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 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, Little Rock, Mountain Home, Fort Smith, and Kansas City among others. We have data for 7 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.

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    Originations

    243

    Origination Dollar Volume (All Markets)

    $84,405,000

    Employee count

    118

    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) 231 $82,055,000 $355,216 $0 0.00%
    Outside of Metro Areas 7 $1,735,000 $247,857 $0 0.00%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
    Mountain Home, AR (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
    FORT SMITH, AR-OK (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
    Muskogee, OK (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
    Legacy National Bank's top markets include Fayetteville, Little Rock, Mountain Home, Fort Smith, and Kansas City among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 215 $75,825,000 $352,674 $0 0.00%
    VA 16 $5,990,000 $374,375 $0 0.00%
    FHA 12 $2,590,000 $215,833 $0 0.00%

    For 2021, Legacy National Bank's most frequently originated type of loan was Conventional, with 215 originations. Their 2nd most popular type was VA, with 16 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 172 $54,200,000 $315,116 $0 0.00%
    Refi 55 $28,865,000 $524,818 $0 0.00%
    Other 11 $1,075,000 $97,727 $0 0.00%
    Home Improvement 5 $265,000 $53,000 $0 0.00%

    For 2021, Legacy National Bank's most frequently cited loan purpose was Home Purchase, with 172 originations. The 2nd most popular reason was Refi, with 55 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 243 $84,405,000 $347,346 $0 0.00%

    For 2021, Legacy National Bank's most frequently cited loan duration was Other, with 243 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 84 $23,300,000 $277,381 $0 0.00%
    $100k-200k 74 $11,340,000 $153,243 $0 0.00%
    $100,000 or less 41 $2,485,000 $60,610 $0 0.00%
    $400k-600k 19 $9,225,000 $485,526 $0 0.00%
    $600k-1MM 13 $9,385,000 $721,923 $0 0.00%
    $1MM+ 12 $28,670,000 $2,389,167 $0 0.00%

    2021 saw Legacy National Bank place emphasis on $200k-400k loans with 84 originations, totaling $23,300,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 32 $11,770,000 $367,813 $0 0.00%
    $100k-150k 28 $5,860,000 $209,286 $0 0.00%
    $150k-250k 25 $6,455,000 $258,200 $0 0.00%
    $50k or less 20 $2,530,000 $126,500 $0 0.00%
    $50k-75k 15 $2,425,000 $161,667 $0 0.00%
    $75k-100k 14 $1,860,000 $132,857 $0 0.00%

    Legacy National Bank lent most frequently to those with incomes in the $250k+ range, with 32 originations. The second most popular income band? $100k-150k, with 28 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 243 $84,405,000 $347,346 $0 0.00%

    Legacy National Bank lent most frequently to those with DTI ratios of Exempt%, with 243 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 102 $51,210,000 $502,059 $0 0.00%
    White 113 $26,605,000 $235,442 $0 0.00%
    Asian 12 $3,550,000 $295,833 $0 0.00%
    Not provided 6 $1,650,000 $275,000 $0 0.00%
    Black 4 $650,000 $162,500 $0 0.00%
    American Indian 5 $465,000 $93,000 $0 0.00%
    Asian Indian 1 $275,000 $275,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.59%

    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
    68.31%

    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 243 $84,405,000 $347,346

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    243 $84,405,000 $347,346

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    LEXISNEXIS Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 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 $71,051
    Legacy National Bank 13540 W Highway 72 Hiwasse, AR 72739 Full Service B&M $19,551
    Legacy National Bank 192 East Centerton Boulevard Centerton, AR 72719 Full Service B&M $22,887
    Legacy National Bank 2081 Butterfield Coach Road Springdale, AR 72764 Full Service B&M $15,464
    Legacy National Bank 211 Main St Se Gravette, AR 72736 Full Service B&M $82,302
    Legacy National Bank 2904 South Walton Blvd Bentonville, AR 72712 Full Service B&M $35,248
    Legacy National Bank 3607 South Thompson Street Springdale, AR 72764 Full Service B&M $15,919
    Legacy National Bank 4055 W Sunset Ave Springdale, AR 72762 Full Service B&M $460,517
    Legacy National Bank 4901 W Pauline Whitaker Parkway Rogers, AR 72758 Full Service B&M $57,056

    For 2021, Legacy National Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $32,987
    Net interest income $29,299
    Total noninterest income $4,944
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $437
    Trading account gains and fees $0
    Additional Noninterest Income $4,507
    Pre-tax net operating income $12,328
    Securities gains (or losses, -) $-7
    Income before extraordinary items $9,224
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $9,224
    Minority interest net income $0
    Net income $9,224
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $9,229

    Legacy National Bank's gross interest income from loans was $32,987,000.
    Legacy National Bank's net interest income from loans was $29,299,000.
    Legacy National Bank's fee based income from loans was $437,000.
    Legacy National Bank's net income from loans was $9,224,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,688
    Provision for credit losses $1,725
    Total noninterest expense $20,190
    Salaries and employee benefits $11,185
    Premises and equipment expense $2,686
    Additional noninterest expense $6,319
    Applicable income taxes $3,097
    Net charge-offs $-33
    Cash dividends $2,100

    Legacy National Bank's interest expense for loans was $3,688,000.
    Legacy National Bank's payroll and benefits expense were $11,185,000.
    Legacy National Bank's property, plant and equipment expenses $2,686,000.

    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 1.0%
    Multifamily residential loans 5.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    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 $836,527
    Deposits held in domestic offices $836,527
    Deposits by Individuals, partnerships, and corporations $808,280
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $28,246
    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 $416,774
    Demand deposits $270,420
    Nontransaction accounts $419,752
    Money market deposit accounts (MMDAs) $254,005
    Other savings deposits (excluding MMDAs) $34,726
    Total time deposits $131,021
    Total time and savings deposits $566,106
    Noninterest-bearing deposits $270,420
    Interest-bearing deposits $566,107
    Retail deposits $804,367
    IRAs and Keogh plan accounts $17,695
    Brokered deposits $5,769
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $934,460
    Cash & Balances due from depository institutions $141,733
    Interest-bearing balances $135,851
    Total securities $41,198
    Federal funds sold & reverse repurchase $5,100
    Net loans and leases $690,181
    Loan and leases loss allowance $11,926
    Trading account assets $0
    Bank premises and fixed assets $25,928
    Other real estate owned $0
    Goodwill and other intangibles $6,418
    All other assets $23,902

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $934,460
    Total Liabilities $852,324
    Total deposits $836,527
    Interest-bearing deposits $566,107
    Deposits held in domestic offices $836,527
    % insured (estimated) $51
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $12,500
    Subordinated debt $0
    All other liabilities $3,297

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $690,181
    Loan and leases loss allowance $11,926
    Total loans and leases (domestic) $702,107
    All real estate loans $627,677
    Real estate loans in domestic offices $627,677
    Construction and development loans $86,233
    Residential 1-4 family construction $37,061
    Other construction, all land development and other land $49,172
    Loans secured by nonfarm nonresidential properties $189,294
    Nonfarm nonresidential secured by owner-occupied properties $76,695
    Commercial real estate & other non-farm, non-residential $112,599
    Multifamily residential real estate $18,173
    1-4 family residential loans $151,522
    Farmland loans $182,455
    Loans held in foreign offices $0
    Farm loans $6,450
    Commercial and industrial loans $58,428
    To non-U.S. addressees $0
    Loans to individuals $9,552
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $3,605
    Other loans to individuals $5,947
    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 $0
    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 $690,181,000 of loans outstanding in 2021. $627,677,000 of loans were in real estate loans. $86,233,000 of loans were in development loans. $18,173,000 of loans were in multifamily mortgage loans. $151,522,000 of loans were in 1-4 family mortgage loans. $6,450,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,605,000 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 235 $53,396 $227,217
    Nonfarm, nonresidential loans - <$100k 51 $3,258 $63,882
    Nonfarm, nonresidential loans - $100-250k 69 $8,850 $128,261
    Nonfarm, nonresidential loans - $250k-1MM 115 $41,288 $359,026
    Commercial & Industrial, US addressed loans - <$1MM 496 $38,463 $77,546
    Commercial & Industrial, US addressed loans - <$100k 315 $7,635 $24,238
    Commercial & Industrial, US addressed loans - $100-250k 99 $9,920 $100,202
    Commercial & Industrial, US addressed loans - $250k-1MM 82 $20,908 $254,976
    Farmland loans - <$1MM 227 $34,365 $151,388
    Farmland loans - <$100k 69 $3,990 $57,826
    Farmland loans - $100-250k 93 $11,917 $128,140
    Farmland loans - $250k-1MM 65 $18,458 $283,969
    Agriculture operations loans - <$1MM 107 $3,228 $30,168
    Agriculture operations loans - <$100k 98 $1,813 $18,500
    Agriculture operations loans - $100-250k 5 $515 $103,000
    Agriculture operations loans - $250k-1MM 4 $900 $225,000