Legacy National Bank Mortgage Rates, Fees & Info

Springdale, AR

LEI: 549300AR337B2RGP3C69

Tax ID: 20-2282203

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

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 a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Fayetteville, Crestview, Dallas, and Fort Smith among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    153

    Origination Dollar Volume (All Markets)

    $56,755,000

    Employee count

    98

    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) 143 $52,335,000 $365,979 $0 0.00%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,335,000 $1,335,000 $0 0.00%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $1,085,000 $1,085,000 $0 0.00%
    FORT SMITH, AR-OK (FHA|USDA|VA) 3 $1,035,000 $345,000 $0 0.00%
    Outside of Metro Areas 5 $965,000 $193,000 $0 0.00%
    Legacy National Bank's top markets include Fayetteville, Crestview, Dallas, and Fort Smith among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 131 $50,855,000 $388,206 $0 0.00%
    FHA 13 $2,715,000 $208,846 $0 0.00%
    VA 9 $3,185,000 $353,889 $0 0.00%

    For 2020, Legacy National Bank's most frequently originated type of loan was Conventional, with 131 originations. Their 2nd most popular type was FHA, with 13 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 98 $35,300,000 $360,204 $0 0.00%
    Refi 48 $20,690,000 $431,042 $0 0.00%
    Home Improvement 5 $175,000 $35,000 $0 0.00%
    Cash Out Refi 2 $590,000 $295,000 $0 0.00%

    For 2020, Legacy National Bank's most frequently cited loan purpose was Home Purchase, with 98 originations. The 2nd most popular reason was Refi, with 48 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 153 $56,755,000 $370,948 $0 0.00%

    For 2020, Legacy National Bank's most frequently cited loan duration was Other, with 153 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 49 $13,405,000 $273,571 $0 0.00%
    $100k-200k 45 $6,635,000 $147,444 $0 0.00%
    $100,000 or less 29 $1,595,000 $55,000 $0 0.00%
    $400k-600k 13 $6,675,000 $513,462 $0 0.00%
    $1MM+ 11 $23,515,000 $2,137,727 $0 0.00%
    $600k-1MM 6 $4,930,000 $821,667 $0 0.00%

    2020 saw Legacy National Bank place emphasis on $200k-400k loans with 49 originations, totaling $13,405,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 18 $4,700,000 $261,111 $0 0.00%
    $100k-150k 16 $3,090,000 $193,125 $0 0.00%
    $250k+ 13 $5,505,000 $423,462 $0 0.00%
    $50k-75k 13 $2,425,000 $186,538 $0 0.00%
    $50k or less 10 $770,000 $77,000 $0 0.00%
    $75k-100k 10 $2,020,000 $202,000 $0 0.00%

    Legacy National Bank lent most frequently to those with incomes in the $150k-250k range, with 18 originations. The second most popular income band? $100k-150k, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 153 $56,755,000 $370,948 $0 0.00%

    Legacy National Bank lent most frequently to those with DTI ratios of Exempt%, with 153 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 64 $35,530,000 $555,156 $0 0.00%
    White 82 $18,530,000 $225,976 $0 0.00%
    Asian 5 $2,285,000 $457,000 $0 0.00%
    Not provided 2 $410,000 $205,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    99.07%

    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
    62.75%

    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 153 $56,755,000 $370,948

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 17 $23,865,000 $1,403,824
    Single Family (1-4 Units):Manufactured 3 $285,000 $95,000
    Single Family (1-4 Units):Site-Built 133 $32,605,000 $245,150

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    LEXISNEXIS Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    LEXISNEXIS Conventional home mortgage Trouble during payment process 1 50.0%

    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 $75,123
    Legacy National Bank 2081 Butterfield Coach Road Springdale, AR 72764 Full Service B&M $14,141
    Legacy National Bank 2904 South Walton Blvd Bentonville, AR 72712 Full Service B&M $16,126
    Legacy National Bank 3607 South Thompson Street Springdale, AR 72764 Full Service B&M $15,849
    Legacy National Bank 4055 West Sunset Springdale, AR 72762 Full Service B&M $400,363
    Legacy National Bank 4901 W Pauline Whitaker Parkway Rogers, AR 72758 Full Service B&M $44,041

    For 2020, Legacy National Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $26,012
    Net interest income $21,835
    Total noninterest income $3,274
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $183
    Trading account gains and fees $0
    Additional Noninterest Income $3,091
    Pre-tax net operating income $8,916
    Securities gains (or losses, -) $0
    Income before extraordinary items $6,996
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,996
    Minority interest net income $0
    Net income $6,996
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,996

    Legacy National Bank's gross interest income from loans was $26,012,000.
    Legacy National Bank's net interest income from loans was $21,835,000.
    Legacy National Bank's fee based income from loans was $183,000.
    Legacy National Bank's net income from loans was $6,996,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,177
    Provision for credit losses $1,425
    Total noninterest expense $14,768
    Salaries and employee benefits $8,719
    Premises and equipment expense $1,709
    Additional noninterest expense $4,340
    Applicable income taxes $1,920
    Net charge-offs $80
    Cash dividends $2,276

    Legacy National Bank's interest expense for loans was $4,177,000.
    Legacy National Bank's payroll and benefits expense were $8,719,000.
    Legacy National Bank's property, plant and equipment expenses $1,709,000.

    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 0.0%
    Nonfarm, nonresidential loans 2.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 4.0%
    All other family 1.0%
    Commercial & industrial loans 2.0%
    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 $596,754
    Deposits held in domestic offices $596,754
    Deposits by Individuals, partnerships, and corporations $571,376
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $25,378
    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 $297,153
    Demand deposits $208,529
    Nontransaction accounts $299,601
    Money market deposit accounts (MMDAs) $164,821
    Other savings deposits (excluding MMDAs) $15,371
    Total time deposits $119,409
    Total time and savings deposits $388,225
    Noninterest-bearing deposits $208,529
    Interest-bearing deposits $388,225
    Retail deposits $552,252
    IRAs and Keogh plan accounts $6,499
    Brokered deposits $5,760
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $673,647
    Cash & Balances due from depository institutions $28,328
    Interest-bearing balances $13,166
    Total securities $29,905
    Federal funds sold & reverse repurchase $13,000
    Net loans and leases $568,644
    Loan and leases loss allowance $9,464
    Trading account assets $0
    Bank premises and fixed assets $18,037
    Other real estate owned $53
    Goodwill and other intangibles $0
    All other assets $15,680

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $673,647
    Total Liabilities $616,245
    Total deposits $596,754
    Interest-bearing deposits $388,225
    Deposits held in domestic offices $596,754
    % insured (estimated) $48
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $14,000
    Subordinated debt $0
    All other liabilities $5,491

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $568,644
    Loan and leases loss allowance $9,464
    Total loans and leases (domestic) $578,108
    All real estate loans $495,655
    Real estate loans in domestic offices $495,655
    Construction and development loans $65,726
    Residential 1-4 family construction $26,280
    Other construction, all land development and other land $39,446
    Loans secured by nonfarm nonresidential properties $167,896
    Nonfarm nonresidential secured by owner-occupied properties $72,699
    Commercial real estate & other non-farm, non-residential $95,197
    Multifamily residential real estate $13,197
    1-4 family residential loans $112,312
    Farmland loans $136,524
    Loans held in foreign offices $0
    Farm loans $2,305
    Commercial and industrial loans $73,077
    To non-U.S. addressees $0
    Loans to individuals $7,071
    Credit card loans $0
    Related Plans $366
    Consumer Auto Loans $2,096
    Other loans to individuals $4,609
    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 $170
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Legacy National Bank had $568,644,000 of loans outstanding in 2020. $495,655,000 of loans were in real estate loans. $65,726,000 of loans were in development loans. $13,197,000 of loans were in multifamily mortgage loans. $112,312,000 of loans were in 1-4 family mortgage loans. $2,305,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,096,000 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 187 $48,185 $257,674
    Nonfarm, nonresidential loans - <$100k 27 $1,188 $44,000
    Nonfarm, nonresidential loans - $100-250k 54 $7,181 $132,981
    Nonfarm, nonresidential loans - $250k-1MM 106 $39,816 $375,623
    Commercial & Industrial, US addressed loans - <$1MM 723 $50,536 $69,898
    Commercial & Industrial, US addressed loans - <$100k 515 $13,240 $25,709
    Commercial & Industrial, US addressed loans - $100-250k 118 $12,702 $107,644
    Commercial & Industrial, US addressed loans - $250k-1MM 90 $24,594 $273,267
    Farmland loans - <$1MM 133 $19,282 $144,977
    Farmland loans - <$100k 44 $1,806 $41,045
    Farmland loans - $100-250k 48 $7,157 $149,104
    Farmland loans - $250k-1MM 41 $10,319 $251,683
    Agriculture operations loans - <$1MM 41 $1,430 $34,878
    Agriculture operations loans - <$100k 38 $1,067 $28,079
    Agriculture operations loans - $100-250k 2 $89 $44,500
    Agriculture operations loans - $250k-1MM 1 $274 $274,000