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 and Cash Out Refi loans. Citizens Bank has a high proportion of conventional loans. Citizens Bank has an average proportion of conventional loans. Their top markets by origination volume include: Salem, Corvallis, Portland, Eugene, and Albany among others. We have data for 6 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

    58

    Origination Dollar Volume (All Markets)

    $14,740,000

    Employee count

    162

    Awards

    Citizens Bank 30 Year Conventional Loans silver
    Show all (1) 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
    SALEM, OR (FHA|USDA|VA) 17 $4,615,000 $271,471 $5,783 3.82%
    CORVALLIS, OR (FHA|USDA|VA) 16 $3,820,000 $238,750 $5,970 3.85%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 9 $2,565,000 $285,000 $5,595 4.02%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 6 $1,760,000 $293,333 $5,689 4.00%
    ALBANY-LEBANON, OR (FHA|USDA|VA) 9 $1,575,000 $175,000 $4,177 4.38%
    BEND, OR (FHA|USDA|VA) 1 $405,000 $405,000 $7,231 3.88%
    Citizens Bank's top markets include Salem, Corvallis, Portland, Eugene, and Albany 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.

    CENTRAL WILLAMETTE Credit Union
    Similarity Rank: 175
    Citizens Bank
    Similarity Rank: 390
    Yakima Federal Savings and Loan Association
    Similarity Rank: 414
    MARION AND POLK SCHOOLS CREDIT UNION
    Similarity Rank: 420
    INROADS
    Similarity Rank: 549
    iQ Credit Union
    Similarity Rank: 851
    Clackamas Federal Credit Union
    Similarity Rank: 918
    OREGONIANS CREDIT UNION
    Similarity Rank: 948
    CASTPARTS EMPLOYEES
    Similarity Rank: 1170
    Consolidated Federal Credit Union
    Similarity Rank: 1220

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 38 $10,420,000 $274,211 $5,662 3.93%
    Conventional 20 $4,320,000 $216,000 $0 0.00%

    For 2019, Citizens Bank's most frequently originated type of loan was Conventional, with 38 originations. Their 2nd most popular type was Conventional, with 20 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 21 $5,495,000 $261,667 $5,552 4.15%
    Cash Out Refi 21 $5,635,000 $268,333 $6,136 3.97%
    Refi 8 $2,060,000 $257,500 $4,821 3.50%
    Other 7 $1,145,000 $163,571 $5,941 3.63%
    Home Improvement 1 $405,000 $405,000 $0 0.00%

    For 2019, Citizens Bank's most frequently cited loan purpose was Home Purchase, with 21 originations. The 2nd most popular reason was Cash Out Refi, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 27 $7,505,000 $277,963 $5,553 4.14%
    Other 20 $4,320,000 $216,000 $0 0.00%
    15 Year 9 $2,415,000 $268,333 $6,542 3.36%
    20 Year 2 $500,000 $250,000 $3,172 3.75%

    For 2019, Citizens Bank's most frequently cited loan duration was 30 Year, with 27 originations. The 2nd most popular length was Other, with 20 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 9 $1,945,000 $216,111
    $3k-4k 9 $2,335,000 $259,444
    $<1k 6 $1,740,000 $290,000
    $4k-5k 6 $1,800,000 $300,000
    $1k-2k 5 $1,155,000 $231,000
    $5k+ 3 $1,445,000 $481,667

    Citizens Bank's average total fees were $5,553, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 9 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 25 $6,715,000 $268,600
    4-5% 6 $1,730,000 $288,333
    5-6% 5 $1,285,000 $257,000
    2.5-3% 2 $690,000 $345,000

    During 2019, Citizens Bank's average interest rate for loans was 4.14%, while their most frequently originated rate bucket for loans was 3-4%, with 25 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 35 $9,405,000 $268,714 $5,465 3.96%
    $100k-200k 11 $1,555,000 $141,364 $3,946 3.94%
    $400k-600k 8 $3,570,000 $446,250 $8,739 3.83%
    $100,000 or less 4 $210,000 $52,500 $0 0.00%

    2019 saw Citizens Bank place emphasis on $200k-400k loans with 35 originations, totaling $9,405,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 11 $3,095,000 $281,364 $7,028 4.19%
    $100k-150k 8 $2,060,000 $257,500 $5,143 3.93%
    $50k-75k 8 $1,720,000 $215,000 $5,734 3.65%
    $75k-100k 8 $1,660,000 $207,500 $4,726 3.96%
    $150k-250k 4 $1,410,000 $352,500 $6,314 4.41%
    $50k or less 3 $275,000 $91,667 $4,110 4.00%

    Citizens Bank lent most frequently to those with incomes in the $250k+ range, with 11 originations. The second most popular income band? $100k-150k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 20 $4,320,000 $216,000 $0 0.00%
    20-30% 9 $2,785,000 $309,444 $5,674 4.08%
    <20% 9 $2,515,000 $279,444 $6,449 3.82%
    30-36% 6 $1,290,000 $215,000 $4,892 4.04%
    40% 4 $1,180,000 $295,000 $5,163 4.63%
    36% 3 $785,000 $261,667 $4,464 3.50%
    44% 2 $570,000 $285,000 $6,605 3.94%
    38% 1 $485,000 $485,000 $8,614 3.13%
    41% 1 $285,000 $285,000 $7,017 3.38%
    42% 1 $115,000 $115,000 $3,775 3.38%
    43% 1 $285,000 $285,000 $6,432 3.50%
    37% 1 $125,000 $125,000 $3,607 3.88%

    Citizens Bank lent most frequently to those with DTI ratios of Exempt%, with 20 originations. The next most common DTI ratio? 20-30%, with 9 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 43 $11,055,000 $257,093 $5,693 3.90%
    Not applicable 8 $2,240,000 $280,000 $0 0.00%
    Asian 3 $865,000 $288,333 $5,328 3.96%
    Not provided 3 $425,000 $141,667 $6,344 4.50%
    Asian Indian 1 $155,000 $155,000 $4,945 4.50%

    Approval Rates

    Total approvals of all applications
    84.48%

    Citizens Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    63.79%

    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
    Exempt 20 $4,320,000 $216,000
    NA 38 $10,420,000 $274,211

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $780,000 $390,000
    Single Family (1-4 Units):Manufactured 3 $335,000 $111,667
    Single Family (1-4 Units):Site-Built 53 $13,625,000 $257,075

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $205,000 $205,000 $6,855 3.00%
    40-60% 8 $1,840,000 $230,000 $6,069 3.58%
    60-80% 18 $5,300,000 $294,444 $5,507 4.06%
    80-100% 11 $3,075,000 $279,545 $5,511 4.07%

    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 Bank 1224 Main Street Philomath, OR 97370 Full Service B&M $54,327
    Citizens Bank 19245 South Molalla Avenue, Suite 1 Oregon City, OR 97045 Full Service B&M $12,500
    Citizens Bank 2122 S. Santiam Hwy. Lebanon, OR 97355 Full Service B&M $9,442
    Citizens Bank 217 East Main Street Silverton, OR 97381 Full Service B&M $30,910
    Citizens Bank 2230 Pacific Boulevard, S.W. Albany, OR 97321 Full Service B&M $31,320
    Citizens Bank 230 N 3rd St Suite 101 Harrisburg, OR 97446 Full Service B&M $7,651
    Citizens Bank 2315 Se 14th Avenue Albany, OR 97321 Full Service B&M $53,034
    Citizens Bank 2355 Olympic Street Springfield, OR 97477 Full Service B&M $12,842
    Citizens Bank 275 S. W. Third Street Corvallis, OR 97339 Full Service B&M $204,629
    Citizens Bank 333 High Street, Suite 101 Salem, OR 97301 Full Service B&M $3,857
    Citizens Bank 455 Northeast Baker Street Mcminnville, OR 97128 Full Service B&M $47,185
    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 $31,867
    Citizens Bank 8100 Sw Nyberg St, Suite 110 Tualatin, OR 97062 Full Service B&M $9,379
    Citizens Bank 955 Ivy Street, Suite 1 Junction City, OR 97448 Full Service B&M $50,465
    Citizens Bank 978 N.W. Circle Boulevard Corvallis, OR 97330 Full Service B&M $85,843

    For 2019, Citizens Bank had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $30,851
    Net interest income $30,298
    Total noninterest income $2,942
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $837
    Trading account gains and fees $0
    Additional Noninterest Income $2,105
    Pre-tax net operating income $14,055
    Securities gains (or losses, -) $0
    Income before extraordinary items $10,567
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,567
    Minority interest net income $0
    Net income $10,567
    Sale, conversion, retirement of capital stock, net $802
    Net operating income $10,567

    Citizens Bank's gross interest income from loans was $30,851,000.
    Citizens Bank's net interest income from loans was $30,298,000.
    Citizens Bank's fee based income from loans was $837,000.
    Citizens Bank's net income from loans was $10,567,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $553
    Provision for credit losses $625
    Total noninterest expense $18,560
    Salaries and employee benefits $13,248
    Premises and equipment expense $1,452
    Additional noninterest expense $3,860
    Applicable income taxes $3,488
    Net charge-offs $-28
    Cash dividends $3,644

    Citizens Bank's interest expense for loans was $553,000.
    Citizens Bank's payroll and benefits expense were $13,248,000.
    Citizens Bank's property, plant and equipment expenses $1,452,000.

    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 $661,358
    Deposits held in domestic offices $661,358
    Deposits by Individuals, partnerships, and corporations $652,982
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $8,351
    Deposits by Commercial banks and other depository institutions in U.S. $25
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $56,872
    Demand deposits $39,969
    Nontransaction accounts $604,486
    Money market deposit accounts (MMDAs) $216,924
    Other savings deposits (excluding MMDAs) $367,990
    Total time deposits $19,572
    Total time and savings deposits $621,389
    Noninterest-bearing deposits $272,953
    Interest-bearing deposits $388,405
    Retail deposits $657,465
    IRAs and Keogh plan accounts $5,988
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $790,180
    Cash & Balances due from depository institutions $52,150
    Interest-bearing balances $35,820
    Total securities $285,967
    Federal funds sold & reverse repurchase $0
    Net loans and leases $409,621
    Loan and leases loss allowance $5,538
    Trading account assets $0
    Bank premises and fixed assets $12,391
    Other real estate owned $777
    Goodwill and other intangibles $0
    All other assets $29,274

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $790,180
    Total Liabilities $699,906
    Total deposits $661,358
    Interest-bearing deposits $388,405
    Deposits held in domestic offices $661,358
    % insured (estimated) $67
    Federal funds purchased and repurchase agreements $30,848
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $7,700

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $409,621
    Loan and leases loss allowance $5,538
    Total loans and leases (domestic) $415,159
    All real estate loans $323,512
    Real estate loans in domestic offices $323,512
    Construction and development loans $10,352
    Residential 1-4 family construction $1,614
    Other construction, all land development and other land $8,738
    Loans secured by nonfarm nonresidential properties $188,429
    Nonfarm nonresidential secured by owner-occupied properties $111,664
    Commercial real estate & other non-farm, non-residential $76,765
    Multifamily residential real estate $28,700
    1-4 family residential loans $42,241
    Farmland loans $53,790
    Loans held in foreign offices $0
    Farm loans $26,833
    Commercial and industrial loans $54,762
    To non-U.S. addressees $0
    Loans to individuals $3,476
    Credit card loans $0
    Related Plans $25
    Consumer Auto Loans $71
    Other loans to individuals $3,380
    All other loans & leases $6,576
    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 $545
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $47
    Non 1-4 family restructured loans & leases $47
    Total loans and leases (foreign) $0

    Citizens Bank had $409,621,000 of loans outstanding in 2019. $323,512,000 of loans were in real estate loans. $10,352,000 of loans were in development loans. $28,700,000 of loans were in multifamily mortgage loans. $42,241,000 of loans were in 1-4 family mortgage loans. $26,833,000 of loans were in farm loans. $0 of loans were in credit card loans. $71,000 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 315 $83,702 $265,721
    Nonfarm, nonresidential loans - <$100k 35 $1,899 $54,257
    Nonfarm, nonresidential loans - $100-250k 110 $15,502 $140,927
    Nonfarm, nonresidential loans - $250k-1MM 170 $66,301 $390,006
    Commercial & Industrial, US addressed loans - <$1MM 565 $44,910 $79,487
    Commercial & Industrial, US addressed loans - <$100k 369 $10,472 $28,379
    Commercial & Industrial, US addressed loans - $100-250k 124 $11,807 $95,218
    Commercial & Industrial, US addressed loans - $250k-1MM 72 $22,631 $314,319
    Farmland loans - <$1MM 126 $31,490 $249,921
    Farmland loans - <$100k 16 $657 $41,063
    Farmland loans - $100-250k 44 $5,159 $117,250
    Farmland loans - $250k-1MM 66 $25,674 $389,000
    Agriculture operations loans - <$1MM 153 $20,125 $131,536
    Agriculture operations loans - <$100k 80 $2,317 $28,963
    Agriculture operations loans - $100-250k 30 $2,676 $89,200
    Agriculture operations loans - $250k-1MM 43 $15,132 $351,907