Applications / Mortgage Analytics / Lenders / Rhode Island / Citizens Bank
Providence, RI · National bank · OCC · $226 billion assets · 68,902 loans in 2025
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68,902
loans originated, 2025
119,620
applications, 2025
50
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Citizens Bank ranks first in both Boston and Providence, and its originations rose 25% in 2025, faster than nearly nine in ten similar lenders and more than twice the 10% growth of the whole market.
It ranks 1 of 664 lenders in Boston-Cambridge-Newton and 1 of 475 in Providence-Warwick, where its share rose from 6.2% to 7.6%. Similar lenders here are national banks making between an eighth and eight times as many loans; their typical growth was 6%.
Refinances made up 35.8% of its loans and home improvement 26.4%; purchase only 15.9%. Its typical rate of 7.50% was higher than about four in five similar lenders (6.62%); a book heavy in home-improvement and other loans could account for that. It turned down 11.2% of first-lien home-purchase applications on owner-occupied homes and 19.6% of refinance applications, close to the group's 11.5% and 22.1%.
Its 68,902 originations compare with 121,037 in 2021. It also bought 23,650 loans, more than nearly nine in ten similar lenders and up from 17,209. A return to buying loans from others may account for part of its recent rise in activity.
Low- and moderate-income (LMI) borrowers took 30.5% of its loans, higher than about two-thirds of similar lenders and up from 24.0% five years before. Its shares in LMI areas, 13.1%, and in majority-minority areas, 13.8%, were lower than nearly four in five similar lenders. Lending that follows existing owners could explain the difference.
Questions the data can answer next
Similar lenders: same lender type, originations between an eighth and eight times the lender's. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Citizens Bank took 119,620 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Refinance 35.8% · Home improvement 26.4% · Other 21.9% · Purchase 15.9%
Conventional 99.0% · FHA 0.8% · VA 0.2% · of 68,902 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| New York | 11,000 | 16.0% |
| Pennsylvania | 10,441 | 15.2% |
| Massachusetts | 10,235 | 14.9% |
| New Jersey | 7,208 | 10.5% |
| Ohio | 4,732 | 6.9% |
| Rhode Island | 3,762 | 5.5% |
| Michigan | 3,697 | 5.4% |
| New Hampshire | 3,194 | 4.6% |
| Connecticut | 3,030 | 4.4% |
| Florida | 2,297 | 3.3% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| New York-Jersey City-White Plains | 5,431 |
| Providence-Warwick | 4,620 |
| Boston | 3,637 |
| Cambridge-Newton-Framingham | 3,596 |
| Pittsburgh | 3,196 |
| Montgomery County-Bucks County-Chester County | 3,020 |
| Nassau County-Suffolk County | 2,383 |
| Lakewood-New Brunswick | 2,375 |
| Cleveland | 2,228 |
| Warren-Troy-Farmington Hills | 1,893 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | DRMSV1Q0EKMEXLAU1P80 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 3303298 | 2005–2023 |
| Respondent ID (the HMDA filer code before 2018) | 124571 | 2005–2010 |
| Respondent ID (the HMDA filer code before 2018) | 93303298 | 2011–2017 |
Established 13 May 2005. Reported under HMDA 2005-2025.
Mergers, name changes, data editions and corrections: Citizens Bank's data.
Citizens Bank's data
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