Citizens

logo for Citizens
Headquarters

1 Citizens Plz
Providence, RI 02903
See all branch locations →

ACH 241070417

Phone 800 922 9999

Notable Rates APY Vs.Others
Savings 0.07% 5.55% →
1-Year CD N.A. 5.60% →
2-Year CD N.A. 4.90% →
5-Year CD N.A. 4.55% →
30-Year Mortgage 6.82% 4.91% →
15-Year Mortgage 6.11% 4.39% →
HELOC N.A. 0.99% →

2024 Overview

General Bank Information

Citizens is an FDIC insured institution located in Providence, RI. It was founded in 2005 and has approximately $221.75 billion in assets. Customers can open an account at one of its 863 branches.

FDIC Insured Yes
FDIC Certificate # 57957
Date Established 2005
Assets $ 221.75 billion
Loans $ 144.90 billion
Deposits $ 180.83 billion
Capital $ 23.29 billion
 

For a more detailed analysis of Citizens's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - April 23, 2024

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Citizens Quest Savings
0.07% $0 - Learn More
Money Market
2.75% $25,000 - Learn More
Money Market
3.00% $250,000 $499,999 Learn More
CD Rates APY MIN MAX
8 Month CD Special
5.00% $25,000 - Learn More
14 Month Online-only CD
2.75% $1,000 - Learn More

Int Checking Rates APY MIN MAX
0.05% $0 - Learn MoreShow Less

Online Only Savings Rates of Citizens

Online Savings Rates APY MIN MAX
Citizens Access Online Savings Account
4.50% $1 - Learn More

Online Only CD Rates of Citizens

Online CD Rates APY MIN MAX
12 Month CD ONLINE
5.00% $5,000 - Learn More
5 Year CD ONLINE
3.45% $5,000 - Learn More
Checking Rates APY MIN FEE
One Deposit Checking from Citizens Bank 0.00% $0 $9.99 Learn MoreShow Less
Citizens Bank Platinum CheckingTM 0.02% $25,000 $25.00 Learn MoreShow Less
Citizens Bank Platinum Plus CheckingTM 0.01% $25,000 $25.00 Learn MoreShow Less

Bank Online Offers

Citizens Access Raises Online Savings Rate to 2.25%
Oct 29, 2018

Citizens Access has raised its online savings rate to 2.25%.   Citizens Access has also raised all of its CD rates today.     BestCashCow has rated Citizens Access's online savings account as a Best Bet for 2019 (read more here).


Citizens Access Raises Savings Rate to 2.35%
Jan 14, 2019

Citizens Access has raised it savings rate to 2.35%.

It has also increased its one-year CD rate to 2.85%.

Both rates are among the most competitive listed on BestCashCow.

 


Citizens Access Drops CD rates
May 3, 2019

CitizensAccess has dropped its 6-month and 1-year CD rates.   The new rates are 2.20% and 2.70%, respectively.   The 1-year rate has gone from being the best CD rate available nationally to being not competitive.  See the best 1-year CD rates here.


Citizens Access Drops Savings Rate to 2.20%; Also Drops CD rates
Jul 3, 2019

Citizens Access has dropped its savings rate by 15 basis points to 2.20%.   It has also lowered all of its CD rates.   See all of Citizens Access's current rates here.   


Citizens Access Drops All Of Its CD Rates Again
Aug 27, 2019

Citizens Access has slashed its CD rates again for the third time in less than two months.   This time all rates have been cut by 25 basis points.  The bank has gone from offering the most attractive CD rates across virtually all maturities to no longer being competitive.   If you are interested in seeing their rates, click here.


Citizens Access Cuts Savings Rate to 2.00%
Sep 10, 2019

Citizens Access has cut its savings rate to 2.00%, effective 9/11.


Citizens Access Cuts Savings Rate to 1.85% APY
Oct 31, 2019

Citizens Access has cut its savings rate to 1.85% APY, effective November 1.   The rate had peaked earlier this year at 2.35%.

It has also lowered all of its CD rates by 15 to 20 basis points.   The Citizens Access one-year CD, for example, now stands at 2.10% APY.   Earlier in 2019, Citizens Access had offered 2.85% on this product.


Citizens Access lowers its Online Savings Rate to 1.70%
Feb 27, 2020

The bank has also lowered all of its CD rates by 15 basis points.


Citizens Access lowers its Online Savings Rate to 1.50%
Apr 15, 2020

Citizens Access has lowered its online savings rate from 1.70% to 1.50%.   The account continues to require a $5,000 minimum balance to earn this rate.


CitizensAccess Lowers All Savings and CD Rates by 20 Basis Points
May 14, 2020

CitizensAccess's online savings rate was lowered from 1.50% to 1.30% APY this morning.  It CD rates were also lowered by 20 basis points.   Its 1-year CD rate now stands at 1.30% APY while its 11-month No Penalty CD now stands at 1.15% APY.


CitizensAccess Lowers Its Online Savings Rate to 1.15% APY
Jun 15, 2020

The rate had been at 1.30% APY immediately prior to this move.


Citizens Access Lowers Online Savings Rate to 1.00% APY
Jun 30, 2020

Citizens Access is lowering its online savings rate to 1.00% APY, effective tomorrow.


CitizensAccess is Lowering Online Savings Rate to 0.60% APY
Sep 24, 2020

CitizensAccess is lowering its online savings rate to 0.60% APY on September 25th.


Citizens Access Lowers Online Savings Rate to 0.50% APY
Nov 13, 2020

Citizens Access is lowering its online savings rate to 0.50% APY this weekend.   The rate had previously stood at 0.60% APY.


Citizens Access to Lower Online Savings Rate to 0.40% APY
Jan 6, 2021

Citizens Access is lowering its online savings rate tomorrow to 0.40% from 0.50% APY.


Citizens Access Finally Raises Its Savings Rate - Going from 0.40% to 0.50% APY
Mar 30, 2022

Citizens Access has finally done what the other major online banks have done - to recognize that interest rates are moving up - and begun to move its online savings rate higher.


Citizens Access Raises Its Savings Rate - Going from 0.50% to 0.75% APY
May 6, 2022

The increase follows an earlier increase from 0.40% to 0.50% APY.


Citizens Is Offering 1-Year CD at 1.75% APY
Jun 1, 2022

Citizens Raises 1-Year Online CD rate to 1.90% APY
Jul 1, 2022

Citizens Raises Online Savings Rate to 1.75% APY
Jul 18, 2022

Citizens Access Savings Is Now at 2.35% APY
Sep 20, 2022

Citizens has raised its online savings rate to 2.35% APY this morning (was 2.10%).


Citizens Raises Access Savings Rate to 3.00% APY
Oct 19, 2022

Citizens has raised its online savings rate to 3.00%.

Its CD products now also offer higher yields, with the 1-year offering 3.25% and th 5-year offering 3.45% APY.

 


Citizens Online Savings Raised to 3.75% APY
Dec 6, 2022

Citizens has raised its online savings rate by 75 basis points to 3.75% APY.   

Citizens' minimum deposit amount is now $1.


Citizens Raises Online Savings Rate to 4.25% APY
Mar 14, 2023

Citizens has raised its online savings rate by 25 basis points.  It has also raised its 1-year online CD rate to 4.75% APY.


Citizens Raises Online Savings to 4.50% and 1-Year CDs to 5.00%
May 2, 2023

Among the handful of most recognized online banks, Citizens now leads in both online savings and one-year CDs.

Compare online savings rates here.

Compare one-year CD rates here.


Citizens' Online 1-Year CD Rate is Now 5.00% APY and Online Savings is 4.50%
Jan 19, 2024

Citizens has lowered its online 1-year CD rate from 5.50% to 5.00% APY.

Its online savings rate remains at 4.50% APY.

 



Loan Rates - April 23, 2024

Your Current Location: Virginia, VA 20146

Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

Citizens branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


Citizens Locations



Climate Policy and Initiatives


Citizens Bank has outlined an extensive plan for its financing of sustainable energy projects.   Additionally, Citizens has put in place a power purchase agreement to source all of its own operations from wind.  It began working with Ørsted's Sunflower wind project in 2022 and is believed to have provided funding to several Ørsted projects, including its offshore wind projects in Massachusetts and New York. It is not known to be a major financier of oil and gas projects.

Citizens acquired an oil and gas lending team in 2015 but it unclear whether it still exists and whether the bank is currently providing any financing to the oil and gas industry.

Updated April 3, 2024


Climate Score: A

Citizens has made real strides in renewable energy lending.


BestCashCow has labeled Citizens Bank, National Association a sustainable bank based on the bank's focus on financing projects in the wind, water, solar and energy storage areas that lessen our dependence on fossil fuels.

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Financial Details

Citizens Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Citizens. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Citizens U.S. Bank Average
7.81% 3.96%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of December 31, 2024, Citizens had $1,971,235,000 in non-current loans and $10,369,000 in owned real estate. To cover these potential losses it had $23,288,619,000 in equity and $2,097,987,000 in loans loss reserves. That gives it a Texas Ratio of 7.81%.

Return on Equity
Citizens U.S. Bank Average
7.4% 12.20%

Citizens has a Return on Equity of 7.4% versus the BestCashCow average of 12.20%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Citizens U.S. Bank Average
10.5% 10.76%

Citizens has a Capitalization of 10.5% versus the BestCashCow average of 10.76. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Citizens Balance Sheet Analysis

As of December 31, 2023, Citizens had assets of $221,750,244,000, loans of $144,895,738,000, and deposits of $180,831,726,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

December 31, 2024
ASSETS
Cash & Balances due from depository institutions $ 12.16 billion
Interest-bearing balances $ 9.99 billion
Total securities $ 39.08 billion
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 144.90 billion
Loan loss allowance $ 2.10 billion
Trading account assets $ 478.82 million
Bank premises and fixed assets N.A.
Other real estate owned $ 10.37 million
Goodwill and other intangibles $ 9.72 billion
All other assets $ 14.13 billion
     Total Assets $ 198.46 billion
LIABILITIES
Total deposits $ 180.83 billion
      Interest-bearing deposits $ 139.73 billion
      Deposits held in domestic offices $ 180.78 billion
      % insured (estimated) 61.83%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities $ 1,557.77 million
Other borrowed funds $ 14.77 billion
Subordinated debt $ 1,125.00 million
All other liabilities $ 3.80 billion
      Total Liabilities $ 198.46 billion
      Shareholders’ Equity $ 23.29 billion

Summary Income Statement

December 31, 2024
INCOME AND EXPENSES
Total Interest Income $ 10.20 billion
Total Interest Expense $ 3.88 billion
Net interest income $ 6.33 billion
Provision for loan and lease losses $ 687.17 million
Total non interest income $ 1,779.35 million
Total non interest expense $ 5.29 billion
Pre-tax Net Operating Income $ 1,077.19 million

Bank Loan Profile?

The top three loan types in Citizens’s loan portfolio are Commercial and Industrial Loans, 1-4 Family Residential Loans, and Commercial Real Estate.

Compared to other banks in Rhode Island, Citizens Bank, National Association has a significantly higher percent of Credit Card Loans, Commercial and Industrial Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 29.49
Multifamily
Mortgages
5.87
Credit Card Loans 1.26
Consumer Auto Loans 8.71
Small Business Loans 0.45
Construction and Development Loans 3.59
Commercial Real Estate 13.14
Commercial and Industrial Loans 32.46
Farm Loans 0.00

Customer Reviews for Citizens


  • March 20, 2016 |

    Good solid bank.


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*Should any logos, images or public notes appear on this page,they do so courtesy of Citizens Bank, National Association and are not subject to approval of BestCashCow. BestCashCow expressly disclaims all responsibility for this content.