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 Refi, Cash Out Refi, and Home Purchase 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: Corvallis, Portland, Albany, Salem, and Eugene among others. We have data for 7 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 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

    92

    Origination Dollar Volume (All Markets)

    $24,670,000

    Employee count

    173

    Awards

    Citizens Bank 30 Year Conventional Loans bronze Citizens Bank 30 Year Conventional Loans gold Citizens Bank 30 Year Conventional Loans gold Citizens Bank 30 Year Conventional Loans silver
    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
    CORVALLIS, OR (FHA|USDA|VA) 25 $6,195,000 $247,800 $4,261 2.89%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 18 $5,660,000 $314,444 $5,201 3.07%
    ALBANY-LEBANON, OR (FHA|USDA|VA) 24 $4,570,000 $190,417 $4,092 2.82%
    SALEM, OR (FHA|USDA|VA) 12 $4,160,000 $346,667 $5,450 2.98%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 8 $2,650,000 $331,250 $4,950 2.57%
    BEND, OR (FHA|USDA|VA) 3 $835,000 $278,333 $4,612 2.46%
    Newport, OR (FHA|USDA|VA) 2 $600,000 $300,000 $6,384 2.63%
    Citizens Bank's top markets include Corvallis, Portland, Albany, Salem, and Eugene 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: 434
    CASTPARTS EMPLOYEES
    Similarity Rank: 524
    CENTRAL WILLAMETTE Credit Union
    Similarity Rank: 594
    OREGONIANS CREDIT UNION
    Similarity Rank: 948
    U S WIDE FINANCIAL LLC
    Similarity Rank: 988
    Pacific NW Federal Credit Union
    Similarity Rank: 1344
    MARION AND POLK SCHOOLS CREDIT UNION
    Similarity Rank: 1380
    Yakima Federal Savings and Loan Association
    Similarity Rank: 1565
    Wauna Federal Credit Union
    Similarity Rank: 1644
    COAST 2 COAST FUNDING GROUP, INC.
    Similarity Rank: 1653

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 79 $19,905,000 $251,962 $4,671 2.87%
    Conventional 13 $4,765,000 $366,538 $0 0.00%

    For 2020, Citizens Bank's most frequently originated type of loan was Conventional, with 79 originations. Their 2nd most popular type was Conventional, with 13 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 32 $8,070,000 $252,188 $4,461 2.69%
    Cash Out Refi 31 $8,735,000 $281,774 $4,656 3.01%
    Home Purchase 24 $7,160,000 $298,333 $5,420 2.93%
    Home Improvement 3 $445,000 $148,333 $3,179 2.94%
    Other 2 $260,000 $130,000 $3,159 3.00%

    For 2020, Citizens Bank's most frequently cited loan purpose was Refi, with 32 originations. The 2nd most popular reason was Cash Out Refi, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 56 $14,540,000 $259,643 $4,912 3.03%
    15 Year 23 $5,365,000 $233,261 $4,085 2.48%
    Other 13 $4,765,000 $366,538 $0 0.00%

    For 2020, Citizens Bank's most frequently cited loan duration was 30 Year, with 56 originations. The 2nd most popular length was 15 Year, with 23 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 37 $9,245,000 $249,865
    $3k-4k 14 $3,460,000 $247,143
    $2k-3k 11 $2,415,000 $219,545
    $1k-2k 10 $2,050,000 $205,000
    $4k-5k 4 $1,400,000 $350,000
    $5k+ 3 $1,335,000 $445,000

    Citizens Bank's average total fees were $4,912, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 37 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 27 $6,995,000 $259,074
    <2.5% 25 $6,245,000 $249,800
    2.5-3% 25 $6,205,000 $248,200
    4-5% 2 $460,000 $230,000

    During 2020, Citizens Bank's average interest rate for loans was 3.03%, while their most frequently originated rate bucket for loans was 3-4%, with 27 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 47 $12,935,000 $275,213 $4,690 2.78%
    $100k-200k 26 $3,960,000 $152,308 $3,830 2.96%
    $400k-600k 11 $4,945,000 $449,545 $7,258 3.11%
    $100,000 or less 5 $395,000 $79,000 $3,202 2.88%
    $600k-1MM 3 $2,435,000 $811,667 $0 0.00%

    2020 saw Citizens Bank place emphasis on $200k-400k loans with 47 originations, totaling $12,935,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 12 $1,940,000 $161,667 $4,042 3.22%
    $250k+ 11 $3,855,000 $350,455 $5,590 2.73%
    $75k-100k 11 $2,925,000 $265,909 $5,548 2.94%
    $150k-250k 10 $3,380,000 $338,000 $5,887 3.14%
    $50k-75k 10 $2,300,000 $230,000 $5,619 3.11%
    $100k-150k 9 $2,125,000 $236,111 $4,790 3.16%

    Citizens Bank lent most frequently to those with incomes in the $50k or less range, with 12 originations. The second most popular income band? $250k+, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 25 $6,275,000 $251,000 $4,410 2.82%
    <20% 22 $5,350,000 $243,182 $4,422 2.73%
    30-36% 17 $4,345,000 $255,588 $5,271 2.87%
    Exempt% 13 $4,765,000 $366,538 $0 0.00%
    41% 4 $830,000 $207,500 $4,760 3.06%
    39% 3 $775,000 $258,333 $4,973 3.38%
    40% 2 $510,000 $255,000 $5,169 3.00%
    38% 2 $650,000 $325,000 $4,466 3.63%
    42% 2 $620,000 $310,000 $3,303 2.75%
    36% 1 $425,000 $425,000 $8,110 2.38%
    37% 1 $125,000 $125,000 $3,908 3.75%

    Citizens Bank lent most frequently to those with DTI ratios of 20-30%, with 25 originations. The next most common DTI ratio? <20%, with 22 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 78 $19,880,000 $254,872 $4,619 2.89%
    Not applicable 4 $2,090,000 $522,500 $0 0.00%
    Not provided 7 $1,625,000 $232,143 $4,295 2.63%
    Asian 2 $730,000 $365,000 $8,126 2.81%
    Native Hawaiian or Islander 1 $345,000 $345,000 $3,632 3.00%

    Approval Rates

    Total approvals of all applications
    90.00%

    Citizens Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.70%

    Citizens Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 13 $4,765,000 $366,538
    NA 79 $19,905,000 $251,962

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $2,435,000 $811,667
    Single Family (1-4 Units):Manufactured 1 $115,000 $115,000
    Single Family (1-4 Units):Site-Built 88 $22,120,000 $251,364

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $2,940,000 $183,750 $4,385 2.71%
    40-60% 24 $4,860,000 $202,500 $4,196 2.88%
    60-80% 30 $9,470,000 $315,667 $4,753 2.91%
    80-100% 7 $2,475,000 $353,571 $7,119 3.18%
    Under 20% 2 $160,000 $80,000 $2,862 2.31%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 35 12.8%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Closing on a mortgage 13 4.7%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Credit monitoring or identity theft protection services 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Incorrect information on your report 5 1.8%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Struggling to pay mortgage 26 9.5%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Trouble during payment process 109 39.8%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 3 1.1%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Struggling to pay mortgage 6 2.2%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Trouble during payment process 7 2.6%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 8 2.9%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 3 1.1%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Struggling to pay mortgage 6 2.2%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 20 7.3%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 7 2.6%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Closing on a mortgage 4 1.5%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Struggling to pay mortgage 2 0.7%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Trouble during payment process 11 4.0%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Struggling to pay mortgage 3 1.1%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Trouble during payment process 4 1.5%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Citizens Bank 1224 Main Street Philomath, OR 97370 Full Service B&M $65,444
    Citizens Bank 19245 South Molalla Avenue, Suite 1 Oregon City, OR 97045 Full Service B&M $16,869
    Citizens Bank 2122 S. Santiam Hwy. Lebanon, OR 97355 Full Service B&M $17,419
    Citizens Bank 217 East Main Street Silverton, OR 97381 Full Service B&M $39,346
    Citizens Bank 2230 Pacific Boulevard, S.W. Albany, OR 97321 Full Service B&M $33,852
    Citizens Bank 230 N 3rd St Suite 101 Harrisburg, OR 97446 Full Service B&M $10,162
    Citizens Bank 2315 Se 14th Avenue Albany, OR 97321 Full Service B&M $60,188
    Citizens Bank 2355 Olympic Street Springfield, OR 97477 Full Service B&M $18,733
    Citizens Bank 275 S. W. Third Street Corvallis, OR 97339 Full Service B&M $250,428
    Citizens Bank 333 High Street, Suite 101 Salem, OR 97301 Full Service B&M $5,005
    Citizens Bank 455 Northeast Baker Street Mcminnville, OR 97128 Full Service B&M $62,454
    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 $42,193
    Citizens Bank 8100 Sw Nyberg St, Suite 110 Tualatin, OR 97062 Full Service B&M $15,007
    Citizens Bank 955 Ivy Street, Suite 1 Junction City, OR 97448 Full Service B&M $64,576
    Citizens Bank 978 N.W. Circle Boulevard Corvallis, OR 97330 Full Service B&M $96,944

    For 2020, Citizens Bank had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $27,927
    Net interest income $27,387
    Total noninterest income $3,022
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $594
    Trading account gains and fees $0
    Additional Noninterest Income $2,428
    Pre-tax net operating income $5,237
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,165
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,165
    Minority interest net income $0
    Net income $4,165
    Sale, conversion, retirement of capital stock, net $728
    Net operating income $4,165

    Citizens Bank's gross interest income from loans was $27,927,000.
    Citizens Bank's net interest income from loans was $27,387,000.
    Citizens Bank's fee based income from loans was $594,000.
    Citizens Bank's net income from loans was $4,165,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $540
    Provision for credit losses $6,860
    Total noninterest expense $18,312
    Salaries and employee benefits $12,522
    Premises and equipment expense $1,377
    Additional noninterest expense $4,413
    Applicable income taxes $1,072
    Net charge-offs $-90
    Cash dividends $2,205

    Citizens Bank's interest expense for loans was $540,000.
    Citizens Bank's payroll and benefits expense were $12,522,000.
    Citizens Bank's property, plant and equipment expenses $1,377,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 1.0%
    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 $833,395
    Deposits held in domestic offices $833,395
    Deposits by Individuals, partnerships, and corporations $825,383
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $7,987
    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 $500,645
    Demand deposits $384,431
    Nontransaction accounts $332,750
    Money market deposit accounts (MMDAs) $247,812
    Other savings deposits (excluding MMDAs) $67,797
    Total time deposits $17,141
    Total time and savings deposits $448,964
    Noninterest-bearing deposits $382,377
    Interest-bearing deposits $451,018
    Retail deposits $830,709
    IRAs and Keogh plan accounts $5,714
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $983,607
    Cash & Balances due from depository institutions $196,073
    Interest-bearing balances $178,346
    Total securities $313,926
    Federal funds sold & reverse repurchase $0
    Net loans and leases $429,088
    Loan and leases loss allowance $12,488
    Trading account assets $0
    Bank premises and fixed assets $12,240
    Other real estate owned $753
    Goodwill and other intangibles $0
    All other assets $31,527

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $983,607
    Total Liabilities $886,776
    Total deposits $833,395
    Interest-bearing deposits $451,018
    Deposits held in domestic offices $833,395
    % insured (estimated) $63
    Federal funds purchased and repurchase agreements $42,564
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $10,817

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $429,088
    Loan and leases loss allowance $12,488
    Total loans and leases (domestic) $441,576
    All real estate loans $297,479
    Real estate loans in domestic offices $297,479
    Construction and development loans $13,938
    Residential 1-4 family construction $223
    Other construction, all land development and other land $13,715
    Loans secured by nonfarm nonresidential properties $176,963
    Nonfarm nonresidential secured by owner-occupied properties $105,375
    Commercial real estate & other non-farm, non-residential $71,588
    Multifamily residential real estate $18,860
    1-4 family residential loans $36,350
    Farmland loans $51,368
    Loans held in foreign offices $0
    Farm loans $35,007
    Commercial and industrial loans $100,792
    To non-U.S. addressees $0
    Loans to individuals $2,838
    Credit card loans $0
    Related Plans $23
    Consumer Auto Loans $50
    Other loans to individuals $2,765
    All other loans & leases $5,460
    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 $360
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $24
    Non 1-4 family restructured loans & leases $24
    Total loans and leases (foreign) $0

    Citizens Bank had $429,088,000 of loans outstanding in 2020. $297,479,000 of loans were in real estate loans. $13,938,000 of loans were in development loans. $18,860,000 of loans were in multifamily mortgage loans. $36,350,000 of loans were in 1-4 family mortgage loans. $35,007,000 of loans were in farm loans. $0 of loans were in credit card loans. $50,000 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 289 $75,200 $260,208
    Nonfarm, nonresidential loans - <$100k 33 $1,603 $48,576
    Nonfarm, nonresidential loans - $100-250k 96 $13,185 $137,344
    Nonfarm, nonresidential loans - $250k-1MM 160 $60,412 $377,575
    Commercial & Industrial, US addressed loans - <$1MM 1,101 $82,778 $75,184
    Commercial & Industrial, US addressed loans - <$100k 745 $22,421 $30,095
    Commercial & Industrial, US addressed loans - $100-250k 232 $24,366 $105,026
    Commercial & Industrial, US addressed loans - $250k-1MM 124 $35,991 $290,250
    Farmland loans - <$1MM 121 $32,147 $265,678
    Farmland loans - <$100k 16 $810 $50,625
    Farmland loans - $100-250k 37 $4,604 $124,432
    Farmland loans - $250k-1MM 68 $26,733 $393,132
    Agriculture operations loans - <$1MM 219 $22,405 $102,306
    Agriculture operations loans - <$100k 121 $3,596 $29,719
    Agriculture operations loans - $100-250k 47 $3,266 $69,489
    Agriculture operations loans - $250k-1MM 51 $15,543 $304,765