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

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. Their top markets by origination volume include: Florence, Georgetown, Sumter, Myrtle Beach, and Charleston 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 a below average pick rate when compared to similar lenders.

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.

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Originations

277

Origination Dollar Volume (All Markets)

$34,905,000

Employee count

159

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)	122	$14,610,000	$119,754	$0	0.00%
Georgetown, SC (FHA\|USDA\|VA)	29	$6,645,000	$229,138	$0	0.00%
SUMTER, SC (FHA\|USDA\|VA)	54	$4,970,000	$92,037	$0	0.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA\|USDA\|VA)	16	$3,050,000	$190,625	$0	0.00%
Outside of Metro Areas	28	$2,920,000	$104,286	$0	0.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA\|USDA\|VA)	14	$1,160,000	$82,857	$0	0.00%
COLUMBIA, SC (FHA\|USDA\|VA)	8	$1,100,000	$137,500	$0	0.00%
Orangeburg, SC (FHA\|USDA\|VA)	3	$135,000	$45,000	$0	0.00%
Seneca, SC (FHA\|USDA\|VA)	1	$115,000	$115,000	$0	0.00%
Bennettsville, SC (FHA\|USDA\|VA)	1	$115,000	$115,000	$0	0.00%
ASHEVILLE, NC (FHA\|USDA\|VA)	1	$85,000	$85,000	$0	0.00%

The Citizens Bank's top markets include Florence, Georgetown, Sumter, Myrtle Beach, and Charleston 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.

SOUTH CAROLINA FEDERAL CREDIT UNION
Similarity Rank: 374

First Reliance Bank
Similarity Rank: 960

American Security Mortgage Corp.
Similarity Rank: 1184

Mortgage Research Center, LLC
Similarity Rank: 2760

First-Citizens Bank & Trust Company
Similarity Rank: 2808

TD Bank
Similarity Rank: 2831

South State Bank
Similarity Rank: 3240

ATLANTIC BAY MORTGAGE GROUP, L.L.C.
Similarity Rank: 5136

Gateway First Bank
Similarity Rank: 5798

Servion, Inc.
Similarity Rank: 6225

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	277	$34,905,000	$126,011	$0	0.00%

For 2019, The Citizens Bank's most frequently originated type of loan was Conventional, with 277 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	160	$22,010,000	$137,563	$0	0.00%
Refi	102	$11,070,000	$108,529	$0	0.00%
Home Improvement	6	$300,000	$50,000	$0	0.00%
Cash Out Refi	5	$1,385,000	$277,000	$0	0.00%
Other	4	$140,000	$35,000	$0	0.00%

For 2019, The Citizens Bank's most frequently cited loan purpose was Home Purchase, with 160 originations. The 2nd most popular reason was Refi, with 102 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	277	$34,905,000	$126,011	$0	0.00%

For 2019, The Citizens Bank's most frequently cited loan duration was Other, with 277 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	168	$8,130,000	$48,393	$0	0.00%
$100k-200k	49	$6,765,000	$138,061	$0	0.00%
$200k-400k	47	$12,615,000	$268,404	$0	0.00%
$400k-600k	8	$4,040,000	$505,000	$0	0.00%
$600k-1MM	5	$3,355,000	$671,000	$0	0.00%

2019 saw The Citizens Bank place emphasis on $100,000 or less loans with 168 originations, totaling $8,130,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	54	$4,970,000	$92,037	$0	0.00%
$100k-150k	47	$6,325,000	$134,574	$0	0.00%
$50k or less	47	$2,655,000	$56,489	$0	0.00%
$75k-100k	36	$3,900,000	$108,333	$0	0.00%
$150k-250k	27	$5,695,000	$210,926	$0	0.00%
$250k+	12	$3,500,000	$291,667	$0	0.00%

The Citizens Bank lent most frequently to those with incomes in the $50k-75k range, with 54 originations. The second most popular income band? $100k-150k, with 47 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	277	$34,905,000	$126,011	$0	0.00%

The Citizens Bank lent most frequently to those with DTI ratios of Exempt%, with 277 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	218	$26,770,000	$122,798	$0	0.00%
Not applicable	50	$7,530,000	$150,600	$0	0.00%
Black	9	$605,000	$67,222	$0	0.00%

Approval Rates

Total approvals of all applications
96.67%

The Citizens Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
85.56%

The Citizens Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	277	$34,905,000	$126,011

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	2	$530,000	$265,000
Multifamily:Site-Built	5	$1,785,000	$357,000
Single Family (1-4 Units):Manufactured	76	$3,400,000	$44,737
Single Family (1-4 Units):Site-Built	194	$29,190,000	$150,464

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	$12,054
The Citizens Bank	11 Willow Grove Road Lynchburg, SC 29080	Full Service B&M	$7,321
The Citizens Bank	1225 Alice Drive Sumter, SC 29151	Full Service B&M	$31,482
The Citizens Bank	124 East Main Street Olanta, SC 29114	Full Service B&M	$23,884
The Citizens Bank	124 W Main St Olanta, SC 29114	Full Service B&M	$0
The Citizens Bank	127 South Georgetown Highway Johnsonville, SC 29555	Full Service B&M	$24,264
The Citizens Bank	1510 Exhange Street Georgetown, SC 29440	Full Service B&M	$28,693
The Citizens Bank	1600 W. Palmetto Street Florence, SC 29501	Full Service B&M	$14,814
The Citizens Bank	1718 Main Street Turbeville, SC 29162	Full Service B&M	$41,274
The Citizens Bank	1812 Highway 52 Scranton, SC 29591	Full Service B&M	$0
The Citizens Bank	206 South Fifth Street Hartsville, SC 29550	Full Service B&M	$51,578
The Citizens Bank	209 East Main Street Lake City, SC 29560	Full Service B&M	$93,585
The Citizens Bank	2220 W Dekalb St Camden, SC 29020	Full Service B&M	$18,998
The Citizens Bank	3796 Highway 17 Murrells Inlet, SC 29576	Full Service B&M	$7,507
The Citizens Bank	4700 West Palmetto Street Timmonsville, SC 29161	Full Service B&M	$31,231
The Citizens Bank	5 North Williamsburg County Highway Kingstree, SC 29556	Full Service B&M	$8,455
The Citizens Bank	5730 W. Memorial Blvd. Saint George, SC 29477	Full Service B&M	$22,766
The Citizens Bank	7 North Seventh Street Mc Bee, SC 29101	Full Service B&M	$22,751
The Citizens Bank	702 Pamplico Highway Florence, SC 29505	Full Service B&M	$22,357
The Citizens Bank	705 South Walnut Street Pamplico, SC 29583	Full Service B&M	$22,076

For 2019, The Citizens Bank had 20 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$23,311
Net interest income	$20,492
Total noninterest income	$6,489
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$2,620
Trading account gains and fees	$0
Additional Noninterest Income	$3,869
Pre-tax net operating income	$7,541
Securities gains (or losses, -)	$0
Income before extraordinary items	$5,837
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$5,837
Minority interest net income	$0
Net income	$5,837
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$5,837

The Citizens Bank's gross interest income from loans was $23,311,000.
The Citizens Bank's net interest income from loans was $20,492,000.
The Citizens Bank's fee based income from loans was $2,620,000.
The Citizens Bank's net income from loans was $5,837,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,819
Provision for credit losses	$405
Total noninterest expense	$19,035
Salaries and employee benefits	$10,425
Premises and equipment expense	$3,074
Additional noninterest expense	$5,536
Applicable income taxes	$1,704
Net charge-offs	$145
Cash dividends	$1,000

The Citizens Bank's interest expense for loans was $2,819,000.
The Citizens Bank's payroll and benefits expense were $10,425,000.
The Citizens Bank's property, plant and equipment expenses $3,074,000.

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	0.0%
HELOC loans	0.0%
All other family	0.0%
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	$490,697
Deposits held in domestic offices	$490,697
Deposits by Individuals, partnerships, and corporations	$472,683
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$18,014
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	$238,589
Demand deposits	$138,853
Nontransaction accounts	$252,108
Money market deposit accounts (MMDAs)	$88,061
Other savings deposits (excluding MMDAs)	$46,026
Total time deposits	$118,021
Total time and savings deposits	$351,844
Noninterest-bearing deposits	$138,853
Interest-bearing deposits	$351,844
Retail deposits	$472,386
IRAs and Keogh plan accounts	$15,134
Brokered deposits	$1,241
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$577,189
Cash & Balances due from depository institutions	$87,903
Interest-bearing balances	$74,873
Total securities	$71,776
Federal funds sold & reverse repurchase	$0
Net loans and leases	$381,053
Loan and leases loss allowance	$3,577
Trading account assets	$0
Bank premises and fixed assets	$16,162
Other real estate owned	$617
Goodwill and other intangibles	$5,496
All other assets	$14,182

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$577,189
Total Liabilities	$516,109
Total deposits	$490,697
Interest-bearing deposits	$351,844
Deposits held in domestic offices	$490,697
% insured (estimated)	$86
Federal funds purchased and repurchase agreements	$4,692
Trading liabilities	$0
Other borrowed funds	$18,629
Subordinated debt	$0
All other liabilities	$2,091

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$381,053
Loan and leases loss allowance	$3,577
Total loans and leases (domestic)	$384,630
All real estate loans	$310,618
Real estate loans in domestic offices	$310,618
Construction and development loans	$27,515
Residential 1-4 family construction	$10,864
Other construction, all land development and other land	$16,651
Loans secured by nonfarm nonresidential properties	$99,194
Nonfarm nonresidential secured by owner-occupied properties	$52,222
Commercial real estate & other non-farm, non-residential	$46,972
Multifamily residential real estate	$9,530
1-4 family residential loans	$151,912
Farmland loans	$22,467
Loans held in foreign offices	$0
Farm loans	$4,211
Commercial and industrial loans	$44,751
To non-U.S. addressees	$0
Loans to individuals	$23,237
Credit card loans	$0
Related Plans	$734
Consumer Auto Loans	$14,329
Other loans to individuals	$8,174
All other loans & leases	$1,813
Loans to foreign governments and official institutions	$0
Other loans	$1,686
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	$868
Non 1-4 family restructured loans & leases	$91
Total loans and leases (foreign)	$0

The Citizens Bank had $381,053,000 of loans outstanding in 2019. $310,618,000 of loans were in real estate loans. $27,515,000 of loans were in development loans. $9,530,000 of loans were in multifamily mortgage loans. $151,912,000 of loans were in 1-4 family mortgage loans. $4,211,000 of loans were in farm loans. $0 of loans were in credit card loans. $14,329,000 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	420	$63,045	$150,107
Nonfarm, nonresidential loans - <$100k	148	$5,128	$34,649
Nonfarm, nonresidential loans - $100-250k	146	$16,245	$111,267
Nonfarm, nonresidential loans - $250k-1MM	126	$41,672	$330,730
Commercial & Industrial, US addressed loans - <$1MM	1,398	$44,368	$31,737
Commercial & Industrial, US addressed loans - <$100k	1,252	$21,691	$17,325
Commercial & Industrial, US addressed loans - $100-250k	105	$10,623	$101,171
Commercial & Industrial, US addressed loans - $250k-1MM	41	$12,054	$294,000
Farmland loans - <$1MM	180	$14,676	$81,533
Farmland loans - <$100k	105	$3,766	$35,867
Farmland loans - $100-250k	55	$6,133	$111,509
Farmland loans - $250k-1MM	20	$4,777	$238,850
Agriculture operations loans - <$1MM	52	$2,370	$45,577
Agriculture operations loans - <$100k	42	$981	$23,357
Agriculture operations loans - $100-250k	6	$378	$63,000
Agriculture operations loans - $250k-1MM	4	$1,011	$252,750