The Citizens Bank Mortgage Rates, Fees & Info

Olanta, SC

LEI: 549300M723MK3TTJ2783

Tax ID: 57-0874845

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    The Citizens Bank is a smaller bank specializing in Home Purchase and Refi loans. The Citizens Bank has a high proportion of conventional loans. The Citizens Bank has a high proportion of conventional loans. Their top markets by origination volume include: Florence, Georgetown, Charleston, Sumter, and Myrtle Beach among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Citizens Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. The Citizens Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    252

    Origination Dollar Volume (All Markets)

    $40,740,000

    Employee count

    145

    Awards

    The Citizens Bank 30 Year Conventional Loans gold The Citizens Bank 30 Year Conventional Loans gold The Citizens Bank 30 Year Conventional Loans gold
    Show all (3) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    FLORENCE, SC (FHA|USDA|VA) 98 $14,130,000 $144,184 $2,091 5.15%
    Georgetown, SC (FHA|USDA|VA) 34 $10,450,000 $307,353 $3,446 4.07%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 21 $5,085,000 $242,143 $2,099 5.47%
    SUMTER, SC (FHA|USDA|VA) 52 $4,790,000 $92,115 $1,562 5.39%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 14 $2,720,000 $194,286 $3,065 4.03%
    Outside of Metro Areas 20 $1,270,000 $63,500 $2,678 5.38%
    COLUMBIA, SC (FHA|USDA|VA) 3 $845,000 $281,667 $3,593 3.75%
    Orangeburg, SC (FHA|USDA|VA) 6 $770,000 $128,333 $0 6.00%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $315,000 $315,000 $2,899 3.50%
    ASHEVILLE, NC (FHA|USDA|VA) 2 $280,000 $140,000 $0 0.00%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
    The Citizens Bank's top markets include Florence, Georgetown, Charleston, Sumter, and Myrtle Beach among others.

    Their top states include:
  • South Carolina (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against The Citizens Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    The Citizens Bank
    Similarity Rank: 44
    SOUTH CAROLINA FEDERAL CREDIT UNION
    Similarity Rank: 294
    American Security Mortgage Corp.
    Similarity Rank: 870
    South State Bank
    Similarity Rank: 1620
    First-Citizens Bank & Trust Company
    Similarity Rank: 1661
    TD Bank
    Similarity Rank: 1728
    USAA Federal Savings Bank
    Similarity Rank: 1808
    Gateway First Bank
    Similarity Rank: 5840
    Truist
    Similarity Rank: 6840
    Bank of America
    Similarity Rank: 8190

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 158 $24,080,000 $152,405 $0 0.00%
    Conventional 94 $16,660,000 $177,234 $2,556 4.97%

    For 2018, The Citizens Bank's most frequently originated type of loan was Conventional, with 158 originations. Their 2nd most popular type was Conventional, with 94 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 138 $23,170,000 $167,899 $3,093 4.78%
    Refi 98 $15,990,000 $163,163 $1,690 5.31%
    Home Improvement 9 $455,000 $50,556 $0 5.58%
    Cash Out Refi 4 $950,000 $237,500 $2,661 4.08%
    Other 3 $175,000 $58,333 $0 0.00%

    For 2018, The Citizens Bank's most frequently cited loan purpose was Home Purchase, with 138 originations. The 2nd most popular reason was Refi, with 98 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 168 $24,990,000 $148,750 $1,692 5.44%
    30 Year 27 $8,575,000 $317,593 $3,024 3.94%
    5 Year 23 $2,775,000 $120,652 $466 5.65%
    15 Year 13 $1,135,000 $87,308 $1,622 5.12%
    10 Year 12 $1,000,000 $83,333 $1,572 5.90%
    1 Year 4 $540,000 $135,000 $0 4.78%
    30+ year 4 $1,600,000 $400,000 $4,834 4.00%
    20 Year 1 $125,000 $125,000 $2,967 4.75%

    For 2018, The Citizens Bank's most frequently cited loan duration was Other, with 168 originations. The 2nd most popular length was 30 Year, with 27 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 42 $9,080,000 $216,190
    $1k-2k 8 $2,730,000 $341,250

    The Citizens Bank's average total fees were $3,024, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 42 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 28 $1,990,000 $71,071
    4-5% 26 $6,620,000 $254,615
    3-4% 25 $7,125,000 $285,000
    6-7% 12 $580,000 $48,333
    7-8% 1 $25,000 $25,000
    Over 8% 1 $15,000 $15,000

    During 2018, The Citizens Bank's average interest rate for loans was 3.94%, while their most frequently originated rate bucket for loans was 5-6%, with 28 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 146 $7,210,000 $49,384 $1,648 5.50%
    $100k-200k 47 $6,505,000 $138,404 $2,650 4.77%
    $200k-400k 41 $11,835,000 $288,659 $2,895 4.07%
    $400k-600k 12 $5,660,000 $471,667 $3,540 4.00%
    $1MM+ 4 $8,060,000 $2,015,000 $4,989 4.13%
    $600k-1MM 2 $1,470,000 $735,000 $5,165 4.50%

    2018 saw The Citizens Bank place emphasis on $100,000 or less loans with 146 originations, totaling $7,210,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 73 $3,895,000 $53,356 $1,862 5.46%
    $50k-75k 42 $3,040,000 $72,381 $1,649 5.46%
    $100k-150k 38 $7,400,000 $194,737 $2,853 4.47%
    $150k-250k 29 $6,655,000 $229,483 $2,685 4.32%
    $75k-100k 25 $2,625,000 $105,000 $2,198 5.02%
    $250k+ 17 $6,695,000 $393,824 $4,074 4.18%

    The Citizens Bank lent most frequently to those with incomes in the $50k or less range, with 73 originations. The second most popular income band? $50k-75k, with 42 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 158 $24,080,000 $152,405 $0 0.00%
    20-30% 16 $2,240,000 $140,000 $1,944 4.88%
    <20% 8 $740,000 $92,500 $2,270 5.41%
    50-60% 7 $2,605,000 $372,143 $3,080 4.61%
    30-36% 7 $1,535,000 $219,286 $3,148 4.93%
    36% 4 $400,000 $100,000 $2,660 4.00%
    44% 3 $1,625,000 $541,667 $2,997 4.33%
    41% 2 $660,000 $330,000 $3,382 3.75%
    42% 2 $310,000 $155,000 $1,819 4.18%
    39% 2 $370,000 $185,000 $3,161 4.63%
    47% 2 $440,000 $220,000 $2,933 4.13%
    37% 2 $370,000 $185,000 $2,845 4.13%
    38% 1 $95,000 $95,000 $2,871 3.75%
    49% 1 $25,000 $25,000 $1,659 5.50%
    40% 1 $315,000 $315,000 $1,957 4.25%
    45% 1 $545,000 $545,000 $3,525 3.75%

    The Citizens Bank lent most frequently to those with DTI ratios of Exempt%, with 158 originations. The next most common DTI ratio? 20-30%, with 16 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 208 $29,590,000 $142,260 $2,589 4.86%
    Not applicable 26 $10,340,000 $397,692 $0 5.29%
    Black 14 $540,000 $38,571 $1,482 6.75%
    Asian 3 $255,000 $85,000 $3,049 3.75%
    Other Asian 1 $15,000 $15,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.62%

    The Citizens Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.27%

    The Citizens Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 158 $24,080,000 $152,405
    NA 94 $16,660,000 $177,234

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $55,000 $55,000
    Multifamily:Site-Built 5 $2,525,000 $505,000
    Single Family (1-4 Units):Manufactured 58 $2,890,000 $49,828
    Single Family (1-4 Units):Site-Built 188 $35,270,000 $187,606

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 13 $1,285,000 $98,846 $1,423 5.37%
    40-60% 14 $1,950,000 $139,286 $2,625 5.15%
    60-80% 43 $6,155,000 $143,140 $2,570 4.96%
    80-100% 22 $7,140,000 $324,545 $3,022 4.61%
    Over 100% 1 $105,000 $105,000 $0 5.50%
    Under 20% 1 $25,000 $25,000 $1,659 5.50%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Citizens Bank 10769 Ocean Highway Pawleys Island, SC 29585 Full Service B&M $12,608
    The Citizens Bank 11 Willow Grove Road Lynchburg, SC 29080 Full Service B&M $8,160
    The Citizens Bank 1225 Alice Drive Sumter, SC 29151 Full Service B&M $30,555
    The Citizens Bank 124 East Main Street Olanta, SC 29114 Full Service B&M $23,936
    The Citizens Bank 127 South Georgetown Highway Johnsonville, SC 29555 Full Service B&M $21,378
    The Citizens Bank 1510 Exhange Street Georgetown, SC 29440 Full Service B&M $24,638
    The Citizens Bank 1718 Main Street Turbeville, SC 29162 Full Service B&M $42,457
    The Citizens Bank 1812 Highway 52 Scranton, SC 29591 Full Service B&M $0
    The Citizens Bank 209 East Main Street Lake City, SC 29560 Full Service B&M $84,855
    The Citizens Bank 311 Revell Drive Florence, SC 29501 Full Service B&M $9,572
    The Citizens Bank 3796 Hwy 17 Bypass Murrells Inlet, SC 29576 Full Service B&M $7,366
    The Citizens Bank 4700 West Palmetto Street Timmonsville, SC 29161 Full Service B&M $29,916
    The Citizens Bank 5 North Williamsburg County Highway Kingstree, SC 29556 Full Service B&M $9,408
    The Citizens Bank 5730 W. Memorial Blvd. Saint George, SC 29477 Full Service B&M $22,424
    The Citizens Bank 702 Pamplico Highway Florence, SC 29505 Full Service B&M $27,380
    The Citizens Bank 705 South Walnut Street Pamplico, SC 29583 Full Service B&M $20,935

    For 2018, The Citizens Bank had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $18,016
    Net interest income $16,675
    Total noninterest income $4,660
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,161
    Trading account gains and fees $0
    Additional Noninterest Income $2,499
    Pre-tax net operating income $5,664
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,300
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,300
    Minority interest net income $0
    Net income $4,300
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,300

    The Citizens Bank's gross interest income from loans was $18,016,000.
    The Citizens Bank's net interest income from loans was $16,675,000.
    The Citizens Bank's fee based income from loans was $2,161,000.
    The Citizens Bank's net income from loans was $4,300,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,341
    Provision for credit losses $100
    Total noninterest expense $15,571
    Salaries and employee benefits $8,663
    Premises and equipment expense $2,259
    Additional noninterest expense $4,649
    Applicable income taxes $1,364
    Net charge-offs $221
    Cash dividends $5,500

    The Citizens Bank's interest expense for loans was $1,341,000.
    The Citizens Bank's payroll and benefits expense were $8,663,000.
    The Citizens Bank's property, plant and equipment expenses $2,259,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $469,525
    Deposits held in domestic offices $469,525
    Deposits by Individuals, partnerships, and corporations $452,449
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $17,076
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $229,922
    Demand deposits $132,895
    Nontransaction accounts $239,603
    Money market deposit accounts (MMDAs) $83,258
    Other savings deposits (excluding MMDAs) $43,457
    Total time deposits $112,888
    Total time and savings deposits $336,630
    Noninterest-bearing deposits $133,895
    Interest-bearing deposits $335,630
    Retail deposits $454,488
    IRAs and Keogh plan accounts $16,309
    Brokered deposits $1,241
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $534,535
    Cash & Balances due from depository institutions $58,971
    Interest-bearing balances $45,994
    Total securities $69,911
    Federal funds sold & reverse repurchase $0
    Net loans and leases $368,637
    Loan and leases loss allowance $3,317
    Trading account assets $0
    Bank premises and fixed assets $16,572
    Other real estate owned $523
    Goodwill and other intangibles $5,948
    All other assets $13,973

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $534,535
    Total Liabilities $480,070
    Total deposits $469,525
    Interest-bearing deposits $335,630
    Deposits held in domestic offices $469,525
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $9,000
    Subordinated debt $0
    All other liabilities $1,545

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $368,637
    Loan and leases loss allowance $3,317
    Total loans and leases (domestic) $371,954
    All real estate loans $300,238
    Real estate loans in domestic offices $300,238
    Construction and development loans $28,314
    Residential 1-4 family construction $9,089
    Other construction, all land development and other land $19,225
    Loans secured by nonfarm nonresidential properties $90,298
    Nonfarm nonresidential secured by owner-occupied properties $58,807
    Commercial real estate & other non-farm, non-residential $31,491
    Multifamily residential real estate $9,171
    1-4 family residential loans $149,778
    Farmland loans $22,677
    Loans held in foreign offices $0
    Farm loans $3,668
    Commercial and industrial loans $44,978
    To non-U.S. addressees $0
    Loans to individuals $22,308
    Credit card loans $0
    Related Plans $234
    Consumer Auto Loans $13,632
    Other loans to individuals $8,442
    All other loans & leases $762
    Loans to foreign governments and official institutions $0
    Other loans $533
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,151
    Non 1-4 family restructured loans & leases $169
    Total loans and leases (foreign) $0

    The Citizens Bank had $368,637,000 of loans outstanding in 2018. $300,238,000 of loans were in real estate loans. $28,314,000 of loans were in development loans. $9,171,000 of loans were in multifamily mortgage loans. $149,778,000 of loans were in 1-4 family mortgage loans. $3,668,000 of loans were in farm loans. $0 of loans were in credit card loans. $13,632,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 431 $63,023 $146,225
    Nonfarm, nonresidential loans - <$100k 155 $5,466 $35,265
    Nonfarm, nonresidential loans - $100-250k 156 $17,295 $110,865
    Nonfarm, nonresidential loans - $250k-1MM 120 $40,262 $335,517
    Commercial & Industrial, US addressed loans - <$1MM 1,404 $44,977 $32,035
    Commercial & Industrial, US addressed loans - <$100k 1,248 $21,375 $17,127
    Commercial & Industrial, US addressed loans - $100-250k 110 $10,553 $95,936
    Commercial & Industrial, US addressed loans - $250k-1MM 46 $13,049 $283,674
    Farmland loans - <$1MM 193 $15,414 $79,865
    Farmland loans - <$100k 111 $3,919 $35,306
    Farmland loans - $100-250k 60 $6,439 $107,317
    Farmland loans - $250k-1MM 22 $5,056 $229,818
    Agriculture operations loans - <$1MM 82 $3,667 $44,720
    Agriculture operations loans - <$100k 70 $2,086 $29,800
    Agriculture operations loans - $100-250k 9 $735 $81,667
    Agriculture operations loans - $250k-1MM 3 $846 $282,000