Citizens Bank Mortgage Rates, Fees & Info
Columbia, MSLEI: 549300V7I9AZRM78QT92
Tax ID: 64-0750822
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Bank Data
Review & Overview
Citizens Bank is a smaller bank specializing in Refi and Home Purchase loans. Citizens Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Hattiesburg, Laurel, Mccomb, Gulfport, and Jackson among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)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. 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.80% | 11/21/24 |
| 30 Year Conventional Refi | 6.81% | 11/21/24 |
| 30 Year FHA Purchase | 7.09% | 11/21/24 |
| 30 Year FHA Refi | 7.35% | 11/21/24 |
| 30 Year VA Refi | 6.27% | 11/21/24 |
| 30 Year USDA Purchase | 6.52% | 11/21/24 |
| 15 Year Conventional Purchase | 6.00% | 11/21/24 |
| 15 Year Conventional Refi | 5.94% | 11/21/24 |
| 15 Year Cash-out Refi | 5.94% | 11/21/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
495Origination Dollar Volume (All Markets)
$63,035,000Employee count
127Top 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 |
|---|---|---|---|---|---|
| HATTIESBURG, MS (FHA|USDA|VA) | 154 | $26,590,000 | $172,662 | $0 | 4.17% |
| Outside of Metro Areas | 249 | $24,975,000 | $100,301 | $0 | 4.88% |
| Laurel, MS (FHA|USDA|VA) | 50 | $6,050,000 | $121,000 | $0 | 4.93% |
| McComb, MS (FHA|USDA|VA) | 19 | $1,525,000 | $80,263 | $0 | 5.41% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 6 | $1,290,000 | $215,000 | $0 | 4.16% |
| JACKSON, MS (FHA|USDA|VA) | 4 | $490,000 | $122,500 | $0 | 4.19% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 2.38% |
| HAMMOND, LA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 3.25% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $0 | 4.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 2.88% |
| Picayune, MS (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $0 | 4.44% |
| Branson, MO (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 3.75% |
| Bogalusa, LA (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 6.25% |
| Greenville, MS (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 5.50% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 6.00% |
| Meridian, MS (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 5.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 472 | $60,400,000 | $127,966 | $0 | 4.76% |
| USDA | 17 | $1,805,000 | $106,176 | $0 | 2.52% |
| FHA | 6 | $830,000 | $138,333 | $0 | 2.73% |
For 2021, Citizens Bank's most frequently originated type of loan was Conventional, with 472 originations. Their 2nd most popular type was USDA, with 17 originations.
Loan Reason
For 2021, Citizens Bank's most frequently cited loan purpose was Refi, with 297 originations. The 2nd most popular reason was Home Purchase, with 174 originations.
Loan Duration/Length
For 2021, Citizens Bank's most frequently cited loan duration was Other, with 168 originations. The 2nd most popular length was 30 Year, with 130 originations.
Origination Fees/Closing Costs
Citizens Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 166 originations.
Interest Rates
During 2021, Citizens Bank's average interest rate for loans was 2.82%, while their most frequently originated rate bucket for loans was 5-6%, with 114 originations.
Loan Sizing
2021 saw Citizens Bank place emphasis on $100,000 or less loans with 267 originations, totaling $12,955,000 in origination value.
Applicant Income
Citizens Bank lent most frequently to those with incomes in the $50k or less range, with 110 originations. The second most popular income band? $100k-150k, with 92 originations.
Applicant Debt to Income Ratio
Citizens Bank lent most frequently to those with DTI ratios of 20-30%, with 101 originations. The next most common DTI ratio? 30-36%, with 78 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.53%
Citizens Bank has an average approval rate.
Pick Rate
Approvals leading to origination94.95%
Citizens Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 495 | $63,035,000 | $127,343 |
LTV Distribution
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 Bank | 102 East Main Street Seminary, MS 39479 | Full Service B&M | $29,287 |
| Citizens Bank | 1036 Highway 42 Sumrall, MS 39482 | Full Service B&M | $47,715 |
| Citizens Bank | 105 North Clark Avenue Magnolia, MS 39652 | Full Service B&M | $26,635 |
| Citizens Bank | 1511 West 4th Street Laurel, MS 39440 | Full Service B&M | $10,538 |
| Citizens Bank | 625 Highway 98 By Pass Columbia, MS 39429 | Full Service B&M | $60,178 |
| Citizens Bank | 7119 U. S. Highway 98 Hattiesburg, MS 39402 | Full Service B&M | $36,998 |
| Citizens Bank | 814 Main Street Columbia, MS 39429 | Full Service B&M | $151,994 |
| Citizens Bank | 907 Beulah Avenue Tylertown, MS 39667 | Full Service B&M | $70,964 |
For 2021, Citizens Bank had 8 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $19,148 |
| Net interest income | $17,041 |
| Total noninterest income | $5,876 |
| Gross Fiduciary activities income | $144 |
| Service charges on deposit accounts | $1,610 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $4,122 |
| Pre-tax net operating income | $8,063 |
| Securities gains (or losses, -) | $3 |
| Income before extraordinary items | $8,066 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $8,066 |
| Minority interest net income | $0 |
| Net income | $8,066 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $8,063 |
Citizens Bank's gross interest income from loans was $19,148,000.
Citizens Bank's net interest income from loans was $17,041,000.
Citizens Bank's fee based income from loans was $1,610,000.
Citizens Bank's net income from loans was $8,066,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,107 |
| Provision for credit losses | $900 |
| Total noninterest expense | $13,954 |
| Salaries and employee benefits | $8,390 |
| Premises and equipment expense | $1,539 |
| Additional noninterest expense | $4,025 |
| Applicable income taxes | $0 |
| Net charge-offs | $798 |
| Cash dividends | $4,400 |
Citizens Bank's interest expense for loans was $2,107,000.
Citizens Bank's payroll and benefits expense were $8,390,000.
Citizens Bank's property, plant and equipment expenses $1,539,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 2.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 4.0% |
| 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 | 1.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $412,341 |
| Deposits held in domestic offices | $412,341 |
| Deposits by Individuals, partnerships, and corporations | $392,751 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $19,590 |
| 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 | $134,659 |
| Demand deposits | $81,064 |
| Nontransaction accounts | $277,682 |
| Money market deposit accounts (MMDAs) | $103,915 |
| Other savings deposits (excluding MMDAs) | $39,525 |
| Total time deposits | $134,241 |
| Total time and savings deposits | $331,277 |
| Noninterest-bearing deposits | $111,640 |
| Interest-bearing deposits | $300,701 |
| Retail deposits | $385,443 |
| IRAs and Keogh plan accounts | $26,130 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $465,838 |
| Cash & Balances due from depository institutions | $94,793 |
| Interest-bearing balances | $87,666 |
| Total securities | $50,881 |
| Federal funds sold & reverse repurchase | $1,177 |
| Net loans and leases | $295,262 |
| Loan and leases loss allowance | $4,237 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $8,981 |
| Other real estate owned | $442 |
| Goodwill and other intangibles | $0 |
| All other assets | $14,302 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $465,838 |
| Total Liabilities | $417,442 |
| Total deposits | $412,341 |
| Interest-bearing deposits | $300,701 |
| Deposits held in domestic offices | $412,341 |
| % insured (estimated) | $86 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $2,542 |
| Subordinated debt | $0 |
| All other liabilities | $2,559 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $295,262 |
| Loan and leases loss allowance | $4,237 |
| Total loans and leases (domestic) | $299,499 |
| All real estate loans | $239,836 |
| Real estate loans in domestic offices | $239,836 |
| Construction and development loans | $21,364 |
| Residential 1-4 family construction | $5,350 |
| Other construction, all land development and other land | $16,014 |
| Loans secured by nonfarm nonresidential properties | $76,527 |
| Nonfarm nonresidential secured by owner-occupied properties | $61,952 |
| Commercial real estate & other non-farm, non-residential | $14,575 |
| Multifamily residential real estate | $2,184 |
| 1-4 family residential loans | $82,915 |
| Farmland loans | $56,846 |
| Loans held in foreign offices | $0 |
| Farm loans | $3,976 |
| Commercial and industrial loans | $38,827 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $16,427 |
| Credit card loans | $0 |
| Related Plans | $138 |
| Consumer Auto Loans | $6,170 |
| Other loans to individuals | $10,119 |
| All other loans & leases | $433 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $339 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $124 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $2,378 |
| Non 1-4 family restructured loans & leases | $635 |
| Total loans and leases (foreign) | $0 |
Citizens Bank had $295,262,000 of loans outstanding in 2021. $239,836,000 of loans were in real estate loans. $21,364,000 of loans were in development loans. $2,184,000 of loans were in multifamily mortgage loans. $82,915,000 of loans were in 1-4 family mortgage loans. $3,976,000 of loans were in farm loans. $0 of loans were in credit card loans. $6,170,000 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 | 265 | $41,667 | $157,234 |
| Nonfarm, nonresidential loans - <$100k | 100 | $4,159 | $41,590 |
| Nonfarm, nonresidential loans - $100-250k | 85 | $11,253 | $132,388 |
| Nonfarm, nonresidential loans - $250k-1MM | 80 | $26,255 | $328,188 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,209 | $32,893 | $27,207 |
| Commercial & Industrial, US addressed loans - <$100k | 1,115 | $17,557 | $15,746 |
| Commercial & Industrial, US addressed loans - $100-250k | 59 | $4,825 | $81,780 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 35 | $10,511 | $300,314 |
| Farmland loans - <$1MM | 532 | $29,297 | $55,070 |
| Farmland loans - <$100k | 418 | $14,729 | $35,237 |
| Farmland loans - $100-250k | 93 | $9,701 | $104,312 |
| Farmland loans - $250k-1MM | 21 | $4,867 | $231,762 |
| Agriculture operations loans - <$1MM | 253 | $3,976 | $15,715 |
| Agriculture operations loans - <$100k | 248 | $3,560 | $14,355 |
| Agriculture operations loans - $100-250k | 4 | $156 | $39,000 |
| Agriculture operations loans - $250k-1MM | 1 | $260 | $260,000 |