Citizens State Bank Of New Castle Mortgage Rates, Fees & Info

New Castle, IN

LEI: 549300QX5KH5JXXMYU41

Tax ID: 35-0227920

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Citizens State Bank Of New Castle is a smaller bank specializing in Home Purchase loans. Citizens State Bank Of New Castle has a high proportion of conventional loans. Their top markets by origination volume include: Indianapolis, New Castle, Richmond, Fort Wayne, and Bluffton among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Citizens State Bank Of New Castle has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Citizens State Bank Of New Castle 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.

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    Originations

    154

    Origination Dollar Volume (All Markets)

    $18,990,000

    Employee count

    145

    Awards

    Citizens State Bank of New Castle 30 Year Conventional Loans silver Citizens State Bank of New Castle 30 Year Conventional Loans gold Citizens State Bank of New Castle 30 Year Conventional Loans gold Citizens State Bank of New Castle 30 Year Conventional Loans gold
    Show all (4) 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
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 30 $6,310,000 $210,333 $1,920 5.31%
    New Castle, IN (FHA|USDA|VA) 48 $5,210,000 $108,542 $1,829 5.14%
    Outside of Metro Areas 53 $5,195,000 $98,019 $1,905 5.07%
    Richmond, IN (FHA|USDA|VA) 3 $645,000 $215,000 $2,009 4.63%
    FORT WAYNE, IN (FHA|USDA|VA) 2 $290,000 $145,000 $1,935 3.50%
    Bluffton, IN (FHA|USDA|VA) 3 $265,000 $88,333 $1,085 6.04%
    Greenville, OH (FHA|USDA|VA) 6 $230,000 $38,333 $1,738 5.42%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $195,000 $195,000 $1,915 4.25%
    Connersville, IN (FHA|USDA|VA) 1 $195,000 $195,000 $2,414 3.25%
    Marion, IN (FHA|USDA|VA) 3 $135,000 $45,000 $2,150 5.71%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $125,000 $125,000 $2,389 4.38%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $125,000 $125,000 $3,000 3.63%
    MUNCIE, IN (FHA|USDA|VA) 2 $70,000 $35,000 $1,505 6.50%
    Citizens State Bank Of New Castle's top markets include Indianapolis, New Castle, Richmond, Fort Wayne, and Bluffton among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)

    • Similar Lenders

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

    INDIANA UNIVERSITY CREDIT UNION
    Similarity Rank: 434
    Hendricks County Bank and Trust Company
    Similarity Rank: 456
    Victory Community Bank
    Similarity Rank: 480
    VICTORY MORTGAGE, L.L.C.
    Similarity Rank: 1794
    FORUM Credit Union
    Similarity Rank: 1920
    Citizens State Bank of New Castle
    Similarity Rank: 1950
    TUCKER MORTGAGE, LLC
    Similarity Rank: 1962
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 2436
    Stock Yards Bank & Trust Company
    Similarity Rank: 2451
    Centra Credit Union
    Similarity Rank: 2541

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 154 $18,990,000 $123,312 $1,877 5.14%

    For 2019, Citizens State Bank Of New Castle's most frequently originated type of loan was Conventional, with 154 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 51 $8,185,000 $160,490 $1,925 4.40%
    Home Improvement 34 $2,640,000 $77,647 $1,808 5.98%
    Cash Out Refi 23 $2,215,000 $96,304 $1,919 5.02%
    Other 22 $1,940,000 $88,182 $1,793 5.85%
    Refi 21 $3,475,000 $165,476 $1,875 5.10%
    NA 3 $535,000 $178,333 $2,173 4.29%

    For 2019, Citizens State Bank Of New Castle's most frequently cited loan purpose was Home Purchase, with 51 originations. The 2nd most popular reason was Home Improvement, with 34 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 60 $10,990,000 $183,167 $2,095 4.21%
    15 Year 32 $1,550,000 $48,438 $1,858 5.68%
    20 Year 18 $3,510,000 $195,000 $2,062 4.40%
    10 Year 17 $435,000 $25,588 $1,379 6.40%
    Other 14 $2,240,000 $160,000 $2,534 5.85%
    5 Year 13 $265,000 $20,385 $625 6.77%

    For 2019, Citizens State Bank Of New Castle's most frequently cited loan duration was 30 Year, with 60 originations. The 2nd most popular length was 15 Year, with 32 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 124 $14,120,000 $113,871

    Citizens State Bank Of New Castle's average total fees were $2,095, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 124 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 47 $7,985,000 $169,894
    4-5% 38 $5,380,000 $141,579
    6-7% 29 $1,745,000 $60,172
    5-6% 23 $3,465,000 $150,652
    Over 8% 10 $240,000 $24,000
    7-8% 7 $175,000 $25,000

    During 2019, Citizens State Bank Of New Castle's average interest rate for loans was 4.21%, while their most frequently originated rate bucket for loans was 3-4%, with 47 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 97 $4,255,000 $43,866 $1,749 5.56%
    $100k-200k 32 $4,480,000 $140,000 $2,030 4.35%
    $200k-400k 18 $4,950,000 $275,000 $1,995 4.58%
    $600k-1MM 3 $2,165,000 $721,667 $2,772 3.92%
    $1MM+ 2 $2,270,000 $1,135,000 $3,059 4.88%
    $400k-600k 2 $870,000 $435,000 $2,445 4.50%

    2019 saw Citizens State Bank Of New Castle place emphasis on $100,000 or less loans with 97 originations, totaling $4,255,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 44 $3,620,000 $82,273 $1,792 5.22%
    $50k or less 40 $2,230,000 $55,750 $1,848 5.27%
    $100k-150k 18 $2,640,000 $146,667 $1,948 4.59%
    $75k-100k 15 $1,655,000 $110,333 $1,770 5.30%
    $150k-250k 14 $2,510,000 $179,286 $1,953 4.88%
    $250k+ 7 $3,305,000 $472,143 $2,250 4.30%

    Citizens State Bank Of New Castle lent most frequently to those with incomes in the $50k-75k range, with 44 originations. The second most popular income band? $50k or less, with 40 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 42 $2,550,000 $60,714 $1,903 4.55%
    20-30% 31 $2,815,000 $90,806 $1,849 5.13%
    30-36% 15 $1,365,000 $91,000 $1,656 5.07%
    50-60% 6 $1,180,000 $196,667 $1,862 6.44%
    40% 5 $485,000 $97,000 $1,426 5.73%
    37% 5 $615,000 $123,000 $1,615 6.45%
    41% 4 $480,000 $120,000 $1,040 4.38%
    43% 4 $550,000 $137,500 $2,499 4.31%
    39% 4 $490,000 $122,500 $1,743 5.06%
    49% 4 $900,000 $225,000 $2,288 5.25%
    38% 3 $665,000 $221,667 $1,944 4.33%
    46% 2 $1,530,000 $765,000 $2,752 4.25%
    42% 2 $100,000 $50,000 $3,320 7.44%
    47% 1 $115,000 $115,000 $2,419 3.25%
    48% 1 $685,000 $685,000 $3,110 3.88%

    Citizens State Bank Of New Castle lent most frequently to those with DTI ratios of <20%, with 42 originations. The next most common DTI ratio? 20-30%, with 31 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 138 $16,120,000 $116,812 $1,873 5.06%
    Not applicable 14 $2,810,000 $200,714 $0 5.88%
    Not provided 1 $35,000 $35,000 $2,144 4.38%
    Black 1 $25,000 $25,000 $2,136 6.25%

    Approval Rates

    Total approvals of all applications
    71.02%

    Citizens State Bank Of New Castle has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    72.73%

    Citizens State Bank Of New Castle has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 154 $18,990,000 $123,312

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $2,175,000 $435,000
    Single Family (1-4 Units):Manufactured 8 $380,000 $47,500
    Single Family (1-4 Units):Site-Built 141 $16,435,000 $116,560

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $1,500,000 $57,692 $1,828 5.76%
    40-60% 26 $3,540,000 $136,154 $2,061 4.81%
    60-80% 51 $7,495,000 $146,961 $2,060 4.89%
    80-100% 27 $4,435,000 $164,259 $2,065 4.30%
    Over 100% 1 $405,000 $405,000 $0 5.00%
    Under 20% 22 $840,000 $38,182 $1,064 6.48%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 10 4.3%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Closing on a mortgage 6 2.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Incorrect information on your report 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Struggling to pay mortgage 20 8.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Trouble during payment process 81 34.8%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 0.9%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Closing on a mortgage 3 1.3%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Incorrect information on your report 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Struggling to pay mortgage 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Trouble during payment process 13 5.6%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 11 4.7%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 9 3.9%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Struggling to pay mortgage 8 3.4%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 52 22.3%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Closing on a mortgage 4 1.7%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Struggling to pay mortgage 2 0.9%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Trouble during payment process 3 1.3%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Applying for a mortgage or refinancing an existing mortgage 2 0.9%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Struggling to pay mortgage 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Trouble during payment process 2 0.9%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Citizens State Bank of New Castle, Indiana 110 South Main Street Montpelier, IN 47359 Full Service B&M $23,451
    Citizens State Bank of New Castle, Indiana 118 W Main Street Lewisville, IN 47352 Full Service B&M $19,862
    Citizens State Bank of New Castle, Indiana 1238 Broad Street New Castle, IN 47362 Full Service B&M $151,435
    Citizens State Bank of New Castle, Indiana 129 South Pendleton Avenue Pendleton, IN 46064 Full Service B&M $22,150
    Citizens State Bank of New Castle, Indiana 1302 Broad Street New Castle, IN 47362 Limited, Drive-thru $0
    Citizens State Bank of New Castle, Indiana 1515 North Walnut Street Hartford City, IN 47348 Full Service B&M $65,161
    Citizens State Bank of New Castle, Indiana 1726 South Memorial Drive New Castle, IN 47362 Full Service B&M $54,868
    Citizens State Bank of New Castle, Indiana 1802 North Main Street Rushville, IN 46173 Full Service B&M $37,372
    Citizens State Bank of New Castle, Indiana 204 West Oak Street Union City, IN 47390 Full Service B&M $33,260
    Citizens State Bank of New Castle, Indiana 222 West Washington Street Hartford City, IN 47348 Limited, Drive-thru $0
    Citizens State Bank of New Castle, Indiana 475 North Mccullum Street Knightstown, IN 46148 Full Service B&M $43,028
    Citizens State Bank of New Castle, Indiana 714 North Main Street Dunkirk, IN 47336 Full Service B&M $17,758
    Citizens State Bank of New Castle, Indiana 9 Municipal Drive, Suite 5 Fishers, IN 46038 Full Service B&M $9,484
    Citizens State Bank of New Castle, Indiana 902 South Rangeline Road Carmel, IN 46032 Full Service B&M $11,287

    For 2019, Citizens State Bank Of New Castle had 14 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $22,179
    Net interest income $18,828
    Total noninterest income $5,178
    Gross Fiduciary activities income $481
    Service charges on deposit accounts $1,925
    Trading account gains and fees $0
    Additional Noninterest Income $2,772
    Pre-tax net operating income $6,779
    Securities gains (or losses, -) $0
    Income before extraordinary items $5,074
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,074
    Minority interest net income $0
    Net income $5,074
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,074

    Citizens State Bank Of New Castle's gross interest income from loans was $22,179,000.
    Citizens State Bank Of New Castle's net interest income from loans was $18,828,000.
    Citizens State Bank Of New Castle's fee based income from loans was $1,925,000.
    Citizens State Bank Of New Castle's net income from loans was $5,074,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,351
    Provision for credit losses $792
    Total noninterest expense $16,435
    Salaries and employee benefits $9,357
    Premises and equipment expense $1,719
    Additional noninterest expense $5,359
    Applicable income taxes $1,705
    Net charge-offs $310
    Cash dividends $1,290

    Citizens State Bank Of New Castle's interest expense for loans was $3,351,000.
    Citizens State Bank Of New Castle's payroll and benefits expense were $9,357,000.
    Citizens State Bank Of New Castle's property, plant and equipment expenses $1,719,000.

    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 0.6%
    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 $518,232
    Deposits held in domestic offices $518,232
    Deposits by Individuals, partnerships, and corporations $395,804
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $122,428
    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 $52,391
    Demand deposits $17,498
    Nontransaction accounts $465,841
    Money market deposit accounts (MMDAs) $45,753
    Other savings deposits (excluding MMDAs) $365,816
    Total time deposits $54,272
    Total time and savings deposits $500,734
    Noninterest-bearing deposits $17,498
    Interest-bearing deposits $500,734
    Retail deposits $509,141
    IRAs and Keogh plan accounts $9,400
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $577,892
    Cash & Balances due from depository institutions $93,827
    Interest-bearing balances $82,931
    Total securities $91,504
    Federal funds sold & reverse repurchase $12,021
    Net loans and leases $354,735
    Loan and leases loss allowance $5,447
    Trading account assets $0
    Bank premises and fixed assets $8,488
    Other real estate owned $22
    Goodwill and other intangibles $0
    All other assets $17,295

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $577,892
    Total Liabilities $521,504
    Total deposits $518,232
    Interest-bearing deposits $500,734
    Deposits held in domestic offices $518,232
    % insured (estimated) $70
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $3,272

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $354,735
    Loan and leases loss allowance $5,447
    Total loans and leases (domestic) $360,182
    All real estate loans $249,737
    Real estate loans in domestic offices $249,737
    Construction and development loans $17,629
    Residential 1-4 family construction $2,551
    Other construction, all land development and other land $15,078
    Loans secured by nonfarm nonresidential properties $69,629
    Nonfarm nonresidential secured by owner-occupied properties $31,019
    Commercial real estate & other non-farm, non-residential $38,610
    Multifamily residential real estate $8,738
    1-4 family residential loans $130,682
    Farmland loans $23,059
    Loans held in foreign offices $0
    Farm loans $7,370
    Commercial and industrial loans $30,892
    To non-U.S. addressees $0
    Loans to individuals $66,460
    Credit card loans $4,311
    Related Plans $95
    Consumer Auto Loans $30,227
    Other loans to individuals $31,827
    All other loans & leases $5,723
    Loans to foreign governments and official institutions $0
    Other loans $284
    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 $294
    Non 1-4 family restructured loans & leases $294
    Total loans and leases (foreign) $0

    Citizens State Bank of New Castle had $354,735,000 of loans outstanding in 2019. $249,737,000 of loans were in real estate loans. $17,629,000 of loans were in development loans. $8,738,000 of loans were in multifamily mortgage loans. $130,682,000 of loans were in 1-4 family mortgage loans. $7,370,000 of loans were in farm loans. $4,311,000 of loans were in credit card loans. $30,227,000 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 233 $69,628 $298,833
    Nonfarm, nonresidential loans - <$100k 76 $2,902 $38,184
    Nonfarm, nonresidential loans - $100-250k 71 $8,205 $115,563
    Nonfarm, nonresidential loans - $250k-1MM 86 $58,521 $680,477
    Commercial & Industrial, US addressed loans - <$1MM 433 $30,892 $71,344
    Commercial & Industrial, US addressed loans - <$100k 301 $6,782 $22,532
    Commercial & Industrial, US addressed loans - $100-250k 75 $6,374 $84,987
    Commercial & Industrial, US addressed loans - $250k-1MM 57 $17,736 $311,158
    Farmland loans - <$1MM 110 $14,231 $129,373
    Farmland loans - <$100k 42 $1,515 $36,071
    Farmland loans - $100-250k 43 $5,735 $133,372
    Farmland loans - $250k-1MM 25 $6,981 $279,240
    Agriculture operations loans - <$1MM 101 $4,454 $44,099
    Agriculture operations loans - <$100k 84 $2,209 $26,298
    Agriculture operations loans - $100-250k 12 $1,404 $117,000
    Agriculture operations loans - $250k-1MM 5 $841 $168,200