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

New Castle, IN

LEI: 549300QX5KH5JXXMYU41

Tax ID: 35-0227920

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

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, Muncie, Bluffton, and Naples among others. We have data for 15 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.

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Originations

178

Origination Dollar Volume (All Markets)

$34,530,000

Employee count

141

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)	35	$14,685,000	$419,571	$0	0.00%
New Castle, IN (FHA\|USDA\|VA)	63	$7,745,000	$122,937	$0	0.00%
Outside of Metro Areas	54	$7,740,000	$143,333	$0	0.00%
MUNCIE, IN (FHA\|USDA\|VA)	7	$1,075,000	$153,571	$0	0.00%
Bluffton, IN (FHA\|USDA\|VA)	6	$700,000	$116,667	$0	0.00%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	1	$595,000	$595,000	$0	0.00%
FORT WAYNE, IN (FHA\|USDA\|VA)	2	$570,000	$285,000	$0	0.00%
Connersville, IN (FHA\|USDA\|VA)	2	$370,000	$185,000	$0	0.00%
Richmond, IN (FHA\|USDA\|VA)	2	$300,000	$150,000	$0	0.00%
Plymouth, IN (FHA\|USDA\|VA)	1	$195,000	$195,000	$0	0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA\|USDA\|VA)	1	$155,000	$155,000	$0	0.00%
Greensburg, IN (FHA\|USDA\|VA)	1	$135,000	$135,000	$0	0.00%
BLOOMINGTON, IN (FHA\|USDA\|VA)	1	$115,000	$115,000	$0	0.00%
KAHULUI-WAILUKU-LAHAINA, HI (FHA\|USDA\|VA)	1	$95,000	$95,000	$0	0.00%
CINCINNATI, OH-KY-IN (FHA\|USDA\|VA)	1	$55,000	$55,000	$0	0.00%

Citizens State Bank Of New Castle's top markets include Indianapolis, New Castle, Muncie, Bluffton, and Naples among others.

Their top states include:

Indiana (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Hawaii (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.

The Riddell National Bank
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The National Bank of Indianapolis
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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	178	$34,530,000	$193,989	$0	0.00%

For 2021, Citizens State Bank Of New Castle's most frequently originated type of loan was Conventional, with 178 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	67	$19,705,000	$294,104	$0	0.00%
Cash Out Refi	41	$5,175,000	$126,220	$0	0.00%
Home Improvement	25	$2,485,000	$99,400	$0	0.00%
Other	24	$2,700,000	$112,500	$0	0.00%
Refi	21	$4,465,000	$212,619	$0	0.00%

For 2021, Citizens State Bank Of New Castle's most frequently cited loan purpose was Home Purchase, with 67 originations. The 2nd most popular reason was Cash Out Refi, with 41 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	178	$34,530,000	$193,989	$0	0.00%

For 2021, Citizens State Bank Of New Castle's most frequently cited loan duration was Other, with 178 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	80	$4,620,000	$57,750	$0	0.00%
$100k-200k	56	$8,070,000	$144,107	$0	0.00%
$200k-400k	27	$7,215,000	$267,222	$0	0.00%
$400k-600k	7	$3,555,000	$507,857	$0	0.00%
$1MM+	6	$9,700,000	$1,616,667	$0	0.00%
$600k-1MM	2	$1,370,000	$685,000	$0	0.00%

2021 saw Citizens State Bank Of New Castle place emphasis on $100,000 or less loans with 80 originations, totaling $4,620,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	46	$4,840,000	$105,217	$0	0.00%
$50k or less	41	$3,085,000	$75,244	$0	0.00%
$75k-100k	28	$4,710,000	$168,214	$0	0.00%
$100k-150k	27	$4,955,000	$183,519	$0	0.00%
$150k-250k	12	$3,230,000	$269,167	$0	0.00%
$250k+	10	$6,380,000	$638,000	$0	0.00%

Citizens State Bank Of New Castle lent most frequently to those with incomes in the $50k-75k range, with 46 originations. The second most popular income band? $50k or less, with 41 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	178	$34,530,000	$193,989	$0	0.00%

Citizens State Bank Of New Castle lent most frequently to those with DTI ratios of Exempt%, with 178 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	162	$26,040,000	$160,741	$0	0.00%
Not applicable	11	$7,085,000	$644,091	$0	0.00%
Asian	1	$595,000	$595,000	$0	0.00%
Not provided	1	$325,000	$325,000	$0	0.00%
Asian Indian	1	$205,000	$205,000	$0	0.00%
Black	1	$165,000	$165,000	$0	0.00%
American Indian	1	$115,000	$115,000	$0	0.00%

Approval Rates

Total approvals of all applications
80.63%

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

Pick Rate

Approvals leading to origination
73.60%

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

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	178	$34,530,000	$193,989

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	178	$34,530,000	$193,989

Complaints

Bank Name	Product	Issue	2021 CPFB Complaints	% of Total Issues
CITIZENS FINANCIAL GROUP, INC.	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	54	15.6%
CITIZENS FINANCIAL GROUP, INC.	Conventional home mortgage	Closing on a mortgage	22	6.3%
CITIZENS FINANCIAL GROUP, INC.	Conventional home mortgage	Improper use of your report	1	0.3%
CITIZENS FINANCIAL GROUP, INC.	Conventional home mortgage	Incorrect information on your report	6	1.7%
CITIZENS FINANCIAL GROUP, INC.	Conventional home mortgage	Problem with a credit reporting company's investigation into an existing problem	3	0.9%
CITIZENS FINANCIAL GROUP, INC.	Conventional home mortgage	Struggling to pay mortgage	27	7.8%
CITIZENS FINANCIAL GROUP, INC.	Conventional home mortgage	Trouble during payment process	116	33.4%
CITIZENS FINANCIAL GROUP, INC.	FHA mortgage	Applying for a mortgage or refinancing an existing mortgage	7	2.0%
CITIZENS FINANCIAL GROUP, INC.	FHA mortgage	Closing on a mortgage	4	1.2%
CITIZENS FINANCIAL GROUP, INC.	FHA mortgage	Struggling to pay mortgage	15	4.3%
CITIZENS FINANCIAL GROUP, INC.	FHA mortgage	Trouble during payment process	19	5.5%
CITIZENS FINANCIAL GROUP, INC.	Home equity loan or line of credit (HELOC)	Applying for a mortgage or refinancing an existing mortgage	7	2.0%
CITIZENS FINANCIAL GROUP, INC.	Home equity loan or line of credit (HELOC)	Closing on a mortgage	4	1.2%
CITIZENS FINANCIAL GROUP, INC.	Home equity loan or line of credit (HELOC)	Incorrect information on your report	2	0.6%
CITIZENS FINANCIAL GROUP, INC.	Home equity loan or line of credit (HELOC)	Struggling to pay mortgage	2	0.6%
CITIZENS FINANCIAL GROUP, INC.	Home equity loan or line of credit (HELOC)	Trouble during payment process	27	7.8%
CITIZENS FINANCIAL GROUP, INC.	Other type of mortgage	Applying for a mortgage or refinancing an existing mortgage	5	1.4%
CITIZENS FINANCIAL GROUP, INC.	Other type of mortgage	Closing on a mortgage	3	0.9%
CITIZENS FINANCIAL GROUP, INC.	Other type of mortgage	Improper use of your report	1	0.3%
CITIZENS FINANCIAL GROUP, INC.	Other type of mortgage	Incorrect information on your report	1	0.3%
CITIZENS FINANCIAL GROUP, INC.	Other type of mortgage	Struggling to pay mortgage	3	0.9%
CITIZENS FINANCIAL GROUP, INC.	Other type of mortgage	Trouble during payment process	13	3.7%
CITIZENS FINANCIAL GROUP, INC.	VA mortgage	Struggling to pay mortgage	2	0.6%
CITIZENS FINANCIAL GROUP, INC.	VA mortgage	Trouble during payment process	3	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	$27,837
Citizens State Bank of New Castle, Indiana	1238 Broad Street New Castle, IN 47362	Full Service B&M	$235,195
Citizens State Bank of New Castle, Indiana	129 South Pendleton Avenue Pendleton, IN 46064	Full Service B&M	$37,582
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	$83,727
Citizens State Bank of New Castle, Indiana	1726 South Memorial Drive New Castle, IN 47362	Full Service B&M	$72,395
Citizens State Bank of New Castle, Indiana	1802 North Main Street Rushville, IN 46173	Full Service B&M	$47,800
Citizens State Bank of New Castle, Indiana	204 West Oak Street Union City, IN 47390	Full Service B&M	$39,209
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	$55,145
Citizens State Bank of New Castle, Indiana	714 North Main Street Dunkirk, IN 47336	Full Service B&M	$23,416
Citizens State Bank of New Castle, Indiana	9 Municipal Drive, Suite 5 Fishers, IN 46038	Full Service B&M	$36,289
Citizens State Bank of New Castle, Indiana	902 South Rangeline Road Carmel, IN 46032	Full Service B&M	$21,162

For 2021, Citizens State Bank Of New Castle had 13 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$23,707
Net interest income	$23,016
Total noninterest income	$5,472
Gross Fiduciary activities income	$443
Service charges on deposit accounts	$1,516
Trading account gains and fees	$0
Additional Noninterest Income	$3,513
Pre-tax net operating income	$9,613
Securities gains (or losses, -)	$0
Income before extraordinary items	$7,467
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$7,467
Minority interest net income	$0
Net income	$7,467
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$7,467

Citizens State Bank Of New Castle's gross interest income from loans was $23,707,000.
Citizens State Bank Of New Castle's net interest income from loans was $23,016,000.
Citizens State Bank Of New Castle's fee based income from loans was $1,516,000.
Citizens State Bank Of New Castle's net income from loans was $7,467,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$691
Provision for credit losses	$444
Total noninterest expense	$18,431
Salaries and employee benefits	$10,201
Premises and equipment expense	$2,240
Additional noninterest expense	$5,990
Applicable income taxes	$2,146
Net charge-offs	$250
Cash dividends	$1,290

Citizens State Bank Of New Castle's interest expense for loans was $691,000.
Citizens State Bank Of New Castle's payroll and benefits expense were $10,201,000.
Citizens State Bank Of New Castle's property, plant and equipment expenses $2,240,000.

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	0.1%
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	$732,846
Deposits held in domestic offices	$732,846
Deposits by Individuals, partnerships, and corporations	$604,798
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$128,049
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	$490,910
Demand deposits	$184,659
Nontransaction accounts	$241,937
Money market deposit accounts (MMDAs)	$68,305
Other savings deposits (excluding MMDAs)	$134,828
Total time deposits	$38,803
Total time and savings deposits	$548,188
Noninterest-bearing deposits	$184,659
Interest-bearing deposits	$548,187
Retail deposits	$724,607
IRAs and Keogh plan accounts	$10,478
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$803,618
Cash & Balances due from depository institutions	$120,840
Interest-bearing balances	$105,649
Total securities	$300,478
Federal funds sold & reverse repurchase	$4,583
Net loans and leases	$353,729
Loan and leases loss allowance	$7,411
Trading account assets	$0
Bank premises and fixed assets	$8,139
Other real estate owned	$15
Goodwill and other intangibles	$0
All other assets	$15,834

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$803,618
Total Liabilities	$736,531
Total deposits	$732,846
Interest-bearing deposits	$548,187
Deposits held in domestic offices	$732,846
% insured (estimated)	$64
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$3,685

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$353,729
Loan and leases loss allowance	$7,411
Total loans and leases (domestic)	$361,140
All real estate loans	$249,384
Real estate loans in domestic offices	$249,384
Construction and development loans	$22,860
Residential 1-4 family construction	$4,026
Other construction, all land development and other land	$18,834
Loans secured by nonfarm nonresidential properties	$78,320
Nonfarm nonresidential secured by owner-occupied properties	$46,192
Commercial real estate & other non-farm, non-residential	$32,128
Multifamily residential real estate	$7,490
1-4 family residential loans	$122,974
Farmland loans	$17,740
Loans held in foreign offices	$0
Farm loans	$5,611
Commercial and industrial loans	$43,282
To non-U.S. addressees	$0
Loans to individuals	$57,817
Credit card loans	$3,368
Related Plans	$55
Consumer Auto Loans	$33,050
Other loans to individuals	$21,344
All other loans & leases	$5,047
Loans to foreign governments and official institutions	$0
Other loans	$181
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	$176
Non 1-4 family restructured loans & leases	$176
Total loans and leases (foreign)	$0

Citizens State Bank of New Castle had $353,729,000 of loans outstanding in 2021. $249,384,000 of loans were in real estate loans. $22,860,000 of loans were in development loans. $7,490,000 of loans were in multifamily mortgage loans. $122,974,000 of loans were in 1-4 family mortgage loans. $5,611,000 of loans were in farm loans. $3,368,000 of loans were in credit card loans. $33,050,000 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	209	$78,320	$374,737
Nonfarm, nonresidential loans - <$100k	53	$1,778	$33,547
Nonfarm, nonresidential loans - $100-250k	63	$7,708	$122,349
Nonfarm, nonresidential loans - $250k-1MM	93	$68,834	$740,151
Commercial & Industrial, US addressed loans - <$1MM	397	$43,282	$109,023
Commercial & Industrial, US addressed loans - <$100k	232	$4,986	$21,491
Commercial & Industrial, US addressed loans - $100-250k	79	$8,057	$101,987
Commercial & Industrial, US addressed loans - $250k-1MM	86	$30,239	$351,616
Farmland loans - <$1MM	88	$10,543	$119,807
Farmland loans - <$100k	35	$1,352	$38,629
Farmland loans - $100-250k	31	$3,637	$117,323
Farmland loans - $250k-1MM	22	$5,554	$252,455
Agriculture operations loans - <$1MM	73	$2,907	$39,822
Agriculture operations loans - <$100k	57	$1,417	$24,860
Agriculture operations loans - $100-250k	12	$899	$74,917
Agriculture operations loans - $250k-1MM	4	$591	$147,750