Legacy National Bank Mortgage Rates, Fees & Info

Springdale, AR

LEI: 549300AR337B2RGP3C69

Tax ID: 20-2282203

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Legacy National Bank is a smaller bank specializing in Home Purchase and Refi loans. Legacy National Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top two markets are Fayetteville and Tulsa .

    Legacy National 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.

    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.

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    Originations

    187

    Origination Dollar Volume (All Markets)

    $58,775,000

    Employee count

    88

    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
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 183 $57,955,000 $316,694 $0 0.00%
    Outside of Metro Areas 3 $595,000 $198,333 $0 0.00%
    TULSA, OK (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
    Legacy National Bank's top markets include Fayetteville and Tulsa among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 152 $49,750,000 $327,303 $0 0.00%
    FHA 19 $3,475,000 $182,895 $0 0.00%
    VA 16 $5,550,000 $346,875 $0 0.00%

    For 2019, Legacy National Bank's most frequently originated type of loan was Conventional, with 152 originations. Their 2nd most popular type was FHA, with 19 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 134 $37,390,000 $279,030 $0 0.00%
    Refi 31 $19,985,000 $644,677 $0 0.00%
    Home Improvement 10 $450,000 $45,000 $0 0.00%
    Other 10 $630,000 $63,000 $0 0.00%
    Cash Out Refi 2 $320,000 $160,000 $0 0.00%

    For 2019, Legacy National Bank's most frequently cited loan purpose was Home Purchase, with 134 originations. The 2nd most popular reason was Refi, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 187 $58,775,000 $314,305 $0 0.00%

    For 2019, Legacy National Bank's most frequently cited loan duration was Other, with 187 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 75 $11,065,000 $147,533 $0 0.00%
    $200k-400k 44 $11,980,000 $272,273 $0 0.00%
    $100,000 or less 38 $2,000,000 $52,632 $0 0.00%
    $400k-600k 18 $8,070,000 $448,333 $0 0.00%
    $1MM+ 7 $21,725,000 $3,103,571 $0 0.00%
    $600k-1MM 5 $3,935,000 $787,000 $0 0.00%

    2019 saw Legacy National Bank place emphasis on $100k-200k loans with 75 originations, totaling $11,065,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 26 $7,990,000 $307,308 $0 0.00%
    $150k-250k 21 $6,185,000 $294,524 $0 0.00%
    $100k-150k 20 $4,240,000 $212,000 $0 0.00%
    $50k-75k 19 $3,525,000 $185,526 $0 0.00%
    $50k or less 17 $2,745,000 $161,471 $0 0.00%
    $75k-100k 15 $2,755,000 $183,667 $0 0.00%

    Legacy National Bank lent most frequently to those with incomes in the $250k+ range, with 26 originations. The second most popular income band? $150k-250k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 187 $58,775,000 $314,305 $0 0.00%

    Legacy National Bank lent most frequently to those with DTI ratios of Exempt%, with 187 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 61 $30,165,000 $494,508 $0 0.00%
    White 114 $26,840,000 $235,439 $0 0.00%
    Not provided 5 $975,000 $195,000 $0 0.00%
    Asian 4 $340,000 $85,000 $0 0.00%
    Black 2 $230,000 $115,000 $0 0.00%
    Other Asian 1 $225,000 $225,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.83%

    Legacy National Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    69.52%

    Legacy National 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 187 $58,775,000 $314,305

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 8 $22,400,000 $2,800,000
    Single Family (1-4 Units):Site-Built 179 $36,375,000 $203,212

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    LEXISNEXIS Other type of mortgage Trouble during payment process 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Legacy National Bank 1325 East Joyce Boulevard Fayetteville, AR 72703 Full Service B&M $52,884
    Legacy National Bank 2081 Butterfield Coach Road Springdale, AR 72764 Full Service B&M $12,860
    Legacy National Bank 2904 South Walton Blvd Bentonville, AR 72712 Full Service B&M $6,404
    Legacy National Bank 3607 South Thompson Street Springdale, AR 72764 Full Service B&M $13,212
    Legacy National Bank 4055 West Sunset Springdale, AR 72762 Full Service B&M $347,442
    Legacy National Bank 4901 W Pauline Whitaker Parkway Rogers, AR 72758 Full Service B&M $35,619

    For 2019, Legacy National Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $24,319
    Net interest income $19,520
    Total noninterest income $2,523
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $258
    Trading account gains and fees $0
    Additional Noninterest Income $2,265
    Pre-tax net operating income $8,257
    Securities gains (or losses, -) $7
    Income before extraordinary items $6,247
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,247
    Minority interest net income $0
    Net income $6,247
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,241

    Legacy National Bank's gross interest income from loans was $24,319,000.
    Legacy National Bank's net interest income from loans was $19,520,000.
    Legacy National Bank's fee based income from loans was $258,000.
    Legacy National Bank's net income from loans was $6,247,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,799
    Provision for credit losses $645
    Total noninterest expense $13,141
    Salaries and employee benefits $7,577
    Premises and equipment expense $1,543
    Additional noninterest expense $4,021
    Applicable income taxes $2,017
    Net charge-offs $-278
    Cash dividends $2,075

    Legacy National Bank's interest expense for loans was $4,799,000.
    Legacy National Bank's payroll and benefits expense were $7,577,000.
    Legacy National Bank's property, plant and equipment expenses $1,543,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 1.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 2.0%
    HELOC loans 0.0%
    All other family 2.0%
    Commercial & industrial loans 2.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 2.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $480,718
    Deposits held in domestic offices $480,718
    Deposits by Individuals, partnerships, and corporations $464,051
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $16,668
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $96,947
    Demand deposits $82,158
    Nontransaction accounts $383,772
    Money market deposit accounts (MMDAs) $246,988
    Other savings deposits (excluding MMDAs) $9,946
    Total time deposits $126,838
    Total time and savings deposits $398,561
    Noninterest-bearing deposits $180,569
    Interest-bearing deposits $300,149
    Retail deposits $436,867
    IRAs and Keogh plan accounts $6,264
    Brokered deposits $10,746
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $547,146
    Cash & Balances due from depository institutions $47,055
    Interest-bearing balances $39,392
    Total securities $18,710
    Federal funds sold & reverse repurchase $2,600
    Net loans and leases $445,619
    Loan and leases loss allowance $8,119
    Trading account assets $0
    Bank premises and fixed assets $18,325
    Other real estate owned $226
    Goodwill and other intangibles $0
    All other assets $14,611

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $547,146
    Total Liabilities $494,473
    Total deposits $480,718
    Interest-bearing deposits $300,149
    Deposits held in domestic offices $480,718
    % insured (estimated) $52
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $11,500
    Subordinated debt $0
    All other liabilities $2,255

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $445,619
    Loan and leases loss allowance $8,119
    Total loans and leases (domestic) $453,738
    All real estate loans $395,798
    Real estate loans in domestic offices $395,798
    Construction and development loans $48,378
    Residential 1-4 family construction $22,357
    Other construction, all land development and other land $26,021
    Loans secured by nonfarm nonresidential properties $136,728
    Nonfarm nonresidential secured by owner-occupied properties $56,974
    Commercial real estate & other non-farm, non-residential $79,754
    Multifamily residential real estate $16,522
    1-4 family residential loans $99,618
    Farmland loans $94,552
    Loans held in foreign offices $0
    Farm loans $1,380
    Commercial and industrial loans $50,843
    To non-U.S. addressees $0
    Loans to individuals $5,717
    Credit card loans $0
    Related Plans $408
    Consumer Auto Loans $1,157
    Other loans to individuals $4,152
    All other loans & leases $0
    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 $132
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $2,961
    Non 1-4 family restructured loans & leases $2,961
    Total loans and leases (foreign) $0

    Legacy National Bank had $445,619,000 of loans outstanding in 2019. $395,798,000 of loans were in real estate loans. $48,378,000 of loans were in development loans. $16,522,000 of loans were in multifamily mortgage loans. $99,618,000 of loans were in 1-4 family mortgage loans. $1,380,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,157,000 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 175 $44,259 $252,909
    Nonfarm, nonresidential loans - <$100k 29 $2,697 $93,000
    Nonfarm, nonresidential loans - $100-250k 50 $6,494 $129,880
    Nonfarm, nonresidential loans - $250k-1MM 96 $35,068 $365,292
    Commercial & Industrial, US addressed loans - <$1MM 407 $33,374 $82,000
    Commercial & Industrial, US addressed loans - <$100k 264 $7,951 $30,117
    Commercial & Industrial, US addressed loans - $100-250k 69 $7,746 $112,261
    Commercial & Industrial, US addressed loans - $250k-1MM 74 $17,677 $238,878
    Farmland loans - <$1MM 104 $13,815 $132,837
    Farmland loans - <$100k 33 $1,476 $44,727
    Farmland loans - $100-250k 34 $4,496 $132,235
    Farmland loans - $250k-1MM 37 $7,843 $211,973
    Agriculture operations loans - <$1MM 30 $1,380 $46,000
    Agriculture operations loans - <$100k 26 $894 $34,385
    Agriculture operations loans - $100-250k 3 $205 $68,333
    Agriculture operations loans - $250k-1MM 1 $281 $281,000