Citizens Bank Mortgage Rates, Fees & Info

Corvallis, OR

LEI: 549300ZRZZ5VMD9PF263

Tax ID: 93-0462799

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
  • 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 Bank is a smaller bank specializing in Home Purchase loans. Citizens Bank has a high proportion of conventional loans. Their top markets by origination volume include: Salem, Albany, Corvallis, Eugene, and Portland among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Citizens Bank 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 Bank is typically an average 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

    70

    Origination Dollar Volume (All Markets)

    $29,460,000

    Employee count

    160

    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
    SALEM, OR (FHA|USDA|VA) 15 $10,405,000 $693,667 $5,675 5.06%
    ALBANY-LEBANON, OR (FHA|USDA|VA) 20 $6,570,000 $328,500 $5,403 5.30%
    CORVALLIS, OR (FHA|USDA|VA) 15 $5,885,000 $392,333 $3,664 5.08%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 4 $2,910,000 $727,500 $4,718 4.90%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 11 $2,595,000 $235,909 $4,743 5.06%
    Newport, OR (FHA|USDA|VA) 2 $610,000 $305,000 $3,298 5.95%
    Outside of Metro Areas 2 $450,000 $225,000 $1,240 6.77%
    BEND, OR (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.09%
    Citizens Bank's top markets include Salem, Albany, Corvallis, Eugene, and Portland among others.

    Their top states include:
  • Oregon (FHA|USDA|VA)

    • Similar Lenders

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

    People's Community Federal Credit Union
    Similarity Rank: 33
    CENTRAL WILLAMETTE Credit Union
    Similarity Rank: 192
    Yakima Federal Savings and Loan Association
    Similarity Rank: 360
    MARION AND POLK SCHOOLS CREDIT UNION
    Similarity Rank: 378
    CASTPARTS EMPLOYEES
    Similarity Rank: 900
    OREGON COMMUNITY
    Similarity Rank: 1159
    Clackamas Federal Credit Union
    Similarity Rank: 1298
    InRoads Federal Credit Union
    Similarity Rank: 1432
    COLUMBIA COMMUNITY CREDIT UNION
    Similarity Rank: 1720
    Mortgage Trust, Inc.
    Similarity Rank: 1778

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 70 $29,460,000 $420,857 $4,798 5.21%

    For 2018, Citizens Bank's most frequently originated type of loan was Conventional, with 70 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 30 $21,050,000 $701,667 $4,741 5.19%
    Cash Out Refi 18 $4,630,000 $257,222 $5,811 5.13%
    Home Improvement 9 $625,000 $69,444 $1,709 5.76%
    Refi 9 $2,075,000 $230,556 $5,921 5.08%
    Other 4 $1,080,000 $270,000 $3,934 4.78%

    For 2018, Citizens Bank's most frequently cited loan purpose was Home Purchase, with 30 originations. The 2nd most popular reason was Cash Out Refi, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 34 $8,460,000 $248,824 $5,415 4.92%
    15 Year 15 $2,495,000 $166,333 $3,831 5.23%
    20 Year 7 $3,105,000 $443,571 $0 5.52%
    10 Year 6 $510,000 $85,000 $434 5.42%
    Other 6 $14,820,000 $2,470,000 $0 5.63%
    5 Year 2 $70,000 $35,000 $1,240 7.13%

    For 2018, Citizens Bank's most frequently cited loan duration was 30 Year, with 34 originations. The 2nd most popular length was 15 Year, with 15 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 13 $3,165,000 $243,462
    $2k-3k 12 $2,160,000 $180,000
    $1k-2k 7 $775,000 $110,714
    $3k-4k 6 $1,250,000 $208,333
    $4k-5k 4 $1,170,000 $292,500
    $5k+ 4 $1,290,000 $322,500

    Citizens Bank's average total fees were $5,415, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 13 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 33 $22,295,000 $675,606
    4-5% 30 $6,520,000 $217,333
    6-7% 5 $455,000 $91,000
    3-4% 1 $165,000 $165,000
    7-8% 1 $25,000 $25,000

    During 2018, Citizens Bank's average interest rate for loans was 4.92%, while their most frequently originated rate bucket for loans was 5-6%, with 33 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 25 $3,795,000 $151,800 $4,518 5.11%
    $200k-400k 21 $5,915,000 $281,667 $5,882 4.95%
    $100,000 or less 10 $520,000 $52,000 $1,764 5.71%
    $400k-600k 7 $3,065,000 $437,857 $7,149 5.31%
    $1MM+ 4 $13,990,000 $3,497,500 $0 5.55%
    $600k-1MM 3 $2,175,000 $725,000 $5,456 5.57%

    2018 saw Citizens Bank place emphasis on $100k-200k loans with 25 originations, totaling $3,795,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 12 $2,250,000 $187,500 $5,119 5.00%
    $100k-150k 9 $2,095,000 $232,778 $5,639 5.49%
    $50k or less 9 $1,195,000 $132,778 $3,619 4.90%
    $150k-250k 8 $2,570,000 $321,250 $5,201 5.11%
    $250k+ 5 $915,000 $183,000 $5,227 5.22%
    $50k-75k 5 $935,000 $187,000 $5,412 4.98%

    Citizens Bank lent most frequently to those with incomes in the $75k-100k range, with 12 originations. The second most popular income band? $100k-150k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 12 $2,150,000 $179,167 $5,136 5.24%
    20-30% 10 $2,420,000 $242,000 $4,160 4.65%
    30-36% 8 $1,890,000 $236,250 $4,472 5.64%
    39% 5 $655,000 $131,000 $4,622 5.00%
    42% 5 $835,000 $167,000 $4,591 5.00%
    38% 3 $465,000 $155,000 $3,821 4.75%
    43% 2 $510,000 $255,000 $4,421 4.38%
    36% 1 $285,000 $285,000 $7,393 4.75%
    41% 1 $235,000 $235,000 $7,066 5.25%
    47% 1 $405,000 $405,000 $10,635 4.50%
    45% 1 $185,000 $185,000 $4,660 4.88%

    Citizens Bank lent most frequently to those with DTI ratios of <20%, with 12 originations. The next most common DTI ratio? 20-30%, with 10 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 17 $18,045,000 $1,061,471 $0 5.61%
    White 46 $10,230,000 $222,391 $4,799 5.11%
    Not provided 4 $830,000 $207,500 $5,672 4.78%
    Asian 3 $355,000 $118,333 $3,613 5.17%

    Approval Rates

    Total approvals of all applications
    88.64%

    Citizens Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    65.71%

    Citizens Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 70 $29,460,000 $420,857

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 11 $16,875,000 $1,534,091
    Single Family (1-4 Units):Manufactured 5 $805,000 $161,000
    Single Family (1-4 Units):Site-Built 54 $11,780,000 $218,148

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $925,000 $102,778 $3,079 5.61%
    40-60% 17 $6,475,000 $380,882 $5,478 4.98%
    60-80% 32 $20,120,000 $628,750 $5,983 5.23%
    80-100% 7 $1,675,000 $239,286 $4,209 4.75%
    Under 20% 4 $220,000 $55,000 $1,544 5.65%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 9 5.3%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Closing on a mortgage 5 2.9%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Improper use of your report 1 0.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Incorrect information on your report 1 0.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 0.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Struggling to pay mortgage 16 9.4%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Trouble during payment process 36 21.1%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 1.2%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Closing on a mortgage 3 1.8%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Struggling to pay mortgage 8 4.7%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Trouble during payment process 3 1.8%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 9 5.3%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 3 1.8%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Struggling to pay mortgage 7 4.1%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 41 24.0%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 1.2%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Closing on a mortgage 3 1.8%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Struggling to pay mortgage 4 2.3%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Trouble during payment process 15 8.8%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Struggling to pay mortgage 1 0.6%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Trouble during payment process 1 0.6%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Citizens Bank 1224 Main Street Philomath, OR 97370 Full Service B&M $54,601
    Citizens Bank 19245 South Molalla Avenue, Suite 1 Oregon City, OR 97045 Full Service B&M $10,258
    Citizens Bank 2122 S. Santiam Hwy. Lebanon, OR 97355 Full Service B&M $10,103
    Citizens Bank 217 East Main Street Silverton, OR 97381 Full Service B&M $31,654
    Citizens Bank 2230 Pacific Boulevard, S.W. Albany, OR 97321 Full Service B&M $31,622
    Citizens Bank 230 N 3rd St Suite 101 Harrisburg, OR 97446 Full Service B&M $8,350
    Citizens Bank 2315 Se 14th Avenue Albany, OR 97321 Full Service B&M $51,439
    Citizens Bank 2355 Olympic Street Springfield, OR 97477 Full Service B&M $13,880
    Citizens Bank 275 S. W. Third Street Corvallis, OR 97339 Full Service B&M $197,416
    Citizens Bank 333 High Street, Suite 101 Salem, OR 97301 Full Service B&M $3,358
    Citizens Bank 455 Northeast Baker Street Mcminnville, OR 97128 Full Service B&M $47,101
    Citizens Bank 5353 Columbus St Se Cottage 5a Albany, OR 97321 Limited, Drive-thru $0
    Citizens Bank 583 Jefferson Street, Se Dallas, OR 97338 Full Service B&M $31,016
    Citizens Bank 8100 Sw Nyberg St, Suite 110 Tualatin, OR 97062 Full Service B&M $7,490
    Citizens Bank 955 Ivy Street, Suite 1 Junction City, OR 97448 Full Service B&M $53,219
    Citizens Bank 978 N.W. Circle Boulevard Corvallis, OR 97330 Full Service B&M $97,498

    For 2018, Citizens Bank had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $28,336
    Net interest income $27,762
    Total noninterest income $3,121
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $978
    Trading account gains and fees $0
    Additional Noninterest Income $2,143
    Pre-tax net operating income $12,567
    Securities gains (or losses, -) $0
    Income before extraordinary items $9,423
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $9,423
    Minority interest net income $0
    Net income $9,423
    Sale, conversion, retirement of capital stock, net $787
    Net operating income $9,423

    Citizens Bank's gross interest income from loans was $28,336,000.
    Citizens Bank's net interest income from loans was $27,762,000.
    Citizens Bank's fee based income from loans was $978,000.
    Citizens Bank's net income from loans was $9,423,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $574
    Provision for credit losses $900
    Total noninterest expense $17,416
    Salaries and employee benefits $12,172
    Premises and equipment expense $1,411
    Additional noninterest expense $3,833
    Applicable income taxes $3,144
    Net charge-offs $575
    Cash dividends $3,031

    Citizens Bank's interest expense for loans was $574,000.
    Citizens Bank's payroll and benefits expense were $12,172,000.
    Citizens Bank's property, plant and equipment expenses $1,411,000.

    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 $651,214
    Deposits held in domestic offices $651,214
    Deposits by Individuals, partnerships, and corporations $642,180
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $9,010
    Deposits by Commercial banks and other depository institutions in U.S. $24
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $64,618
    Demand deposits $49,662
    Nontransaction accounts $586,596
    Money market deposit accounts (MMDAs) $220,567
    Other savings deposits (excluding MMDAs) $342,715
    Total time deposits $23,314
    Total time and savings deposits $601,552
    Noninterest-bearing deposits $264,811
    Interest-bearing deposits $386,403
    Retail deposits $647,310
    IRAs and Keogh plan accounts $6,015
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $771,791
    Cash & Balances due from depository institutions $49,018
    Interest-bearing balances $32,034
    Total securities $277,547
    Federal funds sold & reverse repurchase $0
    Net loans and leases $404,892
    Loan and leases loss allowance $4,886
    Trading account assets $0
    Bank premises and fixed assets $11,688
    Other real estate owned $807
    Goodwill and other intangibles $0
    All other assets $27,839

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $771,791
    Total Liabilities $692,580
    Total deposits $651,214
    Interest-bearing deposits $386,403
    Deposits held in domestic offices $651,214
    % insured (estimated) $69
    Federal funds purchased and repurchase agreements $34,510
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $6,856

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $404,892
    Loan and leases loss allowance $4,886
    Total loans and leases (domestic) $409,778
    All real estate loans $316,189
    Real estate loans in domestic offices $316,189
    Construction and development loans $11,529
    Residential 1-4 family construction $5,176
    Other construction, all land development and other land $6,353
    Loans secured by nonfarm nonresidential properties $189,261
    Nonfarm nonresidential secured by owner-occupied properties $117,422
    Commercial real estate & other non-farm, non-residential $71,839
    Multifamily residential real estate $21,540
    1-4 family residential loans $42,850
    Farmland loans $51,009
    Loans held in foreign offices $0
    Farm loans $27,589
    Commercial and industrial loans $55,090
    To non-U.S. addressees $0
    Loans to individuals $3,821
    Credit card loans $0
    Related Plans $31
    Consumer Auto Loans $16
    Other loans to individuals $3,774
    All other loans & leases $7,089
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $436
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $53
    Non 1-4 family restructured loans & leases $53
    Total loans and leases (foreign) $0

    Citizens Bank had $404,892,000 of loans outstanding in 2018. $316,189,000 of loans were in real estate loans. $11,529,000 of loans were in development loans. $21,540,000 of loans were in multifamily mortgage loans. $42,850,000 of loans were in 1-4 family mortgage loans. $27,589,000 of loans were in farm loans. $0 of loans were in credit card loans. $16,000 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 339 $86,818 $256,100
    Nonfarm, nonresidential loans - <$100k 40 $1,856 $46,400
    Nonfarm, nonresidential loans - $100-250k 126 $16,734 $132,810
    Nonfarm, nonresidential loans - $250k-1MM 173 $68,228 $394,382
    Commercial & Industrial, US addressed loans - <$1MM 696 $37,827 $54,349
    Commercial & Industrial, US addressed loans - <$100k 467 $11,262 $24,116
    Commercial & Industrial, US addressed loans - $100-250k 148 $12,179 $82,291
    Commercial & Industrial, US addressed loans - $250k-1MM 81 $14,386 $177,605
    Farmland loans - <$1MM 133 $31,661 $238,053
    Farmland loans - <$100k 24 $1,072 $44,667
    Farmland loans - $100-250k 42 $4,777 $113,738
    Farmland loans - $250k-1MM 67 $25,812 $385,254
    Agriculture operations loans - <$1MM 190 $17,670 $93,000
    Agriculture operations loans - <$100k 103 $2,552 $24,777
    Agriculture operations loans - $100-250k 41 $3,318 $80,927
    Agriculture operations loans - $250k-1MM 46 $11,800 $256,522