Legacy Bank Mortgage Rates, Fees & Info

Hinton, OK

LEI: 549300E76OWAX7HQJX42

Tax ID: 73-0149048

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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 Bank is a smaller bank specializing in Home Purchase and Refi loans. Legacy Bank has a high proportion of conventional loans. Their top markets by origination volume include: Oklahoma City, Duncan, Mcalester, Weatherford, and Elk City among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Legacy Bank has an average approval rate when compared to the average across all lenders. They have an above 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

    116

    Origination Dollar Volume (All Markets)

    $16,250,000

    Employee count

    162

    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
    OKLAHOMA CITY, OK (FHA|USDA|VA) 68 $12,620,000 $185,588 $0 0.00%
    Duncan, OK (FHA|USDA|VA) 24 $1,700,000 $70,833 $0 0.00%
    McAlester, OK (FHA|USDA|VA) 1 $445,000 $445,000 $0 0.00%
    Weatherford, OK (FHA|USDA|VA) 4 $380,000 $95,000 $0 0.00%
    Outside of Metro Areas 5 $365,000 $73,000 $0 0.00%
    Elk City, OK (FHA|USDA|VA) 6 $250,000 $41,667 $0 0.00%
    TULSA, OK (FHA|USDA|VA) 5 $235,000 $47,000 $0 0.00%
    Taos, NM (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
    LAWTON, OK (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
    Altus, OK (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
    Legacy Bank's top markets include Oklahoma City, Duncan, Mcalester, Weatherford, and Elk City among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 116 $16,250,000 $140,086 $0 0.00%

    For 2018, Legacy Bank's most frequently originated type of loan was Conventional, with 116 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 82 $10,240,000 $124,878 $0 0.00%
    Refi 22 $5,150,000 $234,091 $0 0.00%
    Home Improvement 9 $565,000 $62,778 $0 0.00%
    Other 3 $295,000 $98,333 $0 0.00%

    For 2018, Legacy Bank's most frequently cited loan purpose was Home Purchase, with 82 originations. The 2nd most popular reason was Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 116 $16,250,000 $140,086 $0 0.00%

    For 2018, Legacy Bank's most frequently cited loan duration was Other, with 116 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 72 $3,970,000 $55,139 $0 0.00%
    $100k-200k 28 $3,960,000 $141,429 $0 0.00%
    $200k-400k 10 $2,490,000 $249,000 $0 0.00%
    $400k-600k 4 $1,840,000 $460,000 $0 0.00%
    $1MM+ 2 $3,990,000 $1,995,000 $0 0.00%

    2018 saw Legacy Bank place emphasis on $100,000 or less loans with 72 originations, totaling $3,970,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 13 $895,000 $68,846 $0 0.00%
    $50k-75k 10 $640,000 $64,000 $0 0.00%
    $150k-250k 8 $1,610,000 $201,250 $0 0.00%
    $50k or less 6 $350,000 $58,333 $0 0.00%
    $100k-150k 5 $795,000 $159,000 $0 0.00%
    $250k+ 5 $535,000 $107,000 $0 0.00%

    Legacy Bank lent most frequently to those with incomes in the $75k-100k range, with 13 originations. The second most popular income band? $50k-75k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 116 $16,250,000 $140,086 $0 0.00%

    Legacy Bank lent most frequently to those with DTI ratios of Exempt%, with 116 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 68 $11,190,000 $164,559 $0 0.00%
    White 46 $4,930,000 $107,174 $0 0.00%
    American Indian 2 $130,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    73.05%

    Legacy Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    95.69%

    Legacy Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 116 $16,250,000 $140,086

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $4,545,000 $1,515,000
    Single Family (1-4 Units):Manufactured 3 $85,000 $28,333
    Single Family (1-4 Units):Site-Built 110 $11,620,000 $105,636

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Legacy Bank 1000 North Main Street Blanchard, OK 73010 Full Service B&M $52,861
    Legacy Bank 101 West Main Hinton, OK 73047 Full Service B&M $50,961
    Legacy Bank 1289 E 15th, Ste.100 Edmond, OK 73013 Full Service B&M $25,390
    Legacy Bank 13216 N Macarthur Oklahoma City, OK 73142 Full Service B&M $24,263
    Legacy Bank 1401 S. Broadway Marlow, OK 73055 Full Service B&M $15,025
    Legacy Bank 2100 North Highway 81 Duncan, OK 73533 Full Service B&M $58,597
    Legacy Bank 225 West Main Street Binger, OK 73009 Full Service B&M $24,917
    Legacy Bank 2801 W Memorial Road Oklahoma City, OK 73134 Full Service B&M $61,465
    Legacy Bank 509 Northwest 32nd Street Newcastle, OK 73065 Full Service B&M $32,977
    Legacy Bank 701-723 E. Main Street Weatherford, OK 73096 Full Service B&M $36,784
    Legacy Bank 921 West Third Street Elk City, OK 73644 Full Service B&M $45,927

    For 2018, Legacy Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $22,630
    Net interest income $19,871
    Total noninterest income $3,942
    Gross Fiduciary activities income $94
    Service charges on deposit accounts $1,880
    Trading account gains and fees $0
    Additional Noninterest Income $1,968
    Pre-tax net operating income $2,484
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,484
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,484
    Minority interest net income $0
    Net income $2,484
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,484

    Legacy Bank's gross interest income from loans was $22,630,000.
    Legacy Bank's net interest income from loans was $19,871,000.
    Legacy Bank's fee based income from loans was $1,880,000.
    Legacy Bank's net income from loans was $2,484,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,759
    Provision for credit losses $107
    Total noninterest expense $21,222
    Salaries and employee benefits $12,106
    Premises and equipment expense $2,508
    Additional noninterest expense $6,608
    Applicable income taxes $0
    Net charge-offs $-474
    Cash dividends $2,572

    Legacy Bank's interest expense for loans was $2,759,000.
    Legacy Bank's payroll and benefits expense were $12,106,000.
    Legacy Bank's property, plant and equipment expenses $2,508,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    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 $423,109
    Deposits held in domestic offices $423,109
    Deposits by Individuals, partnerships, and corporations $421,268
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $1,841
    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 $50,256
    Demand deposits $27,371
    Nontransaction accounts $372,853
    Money market deposit accounts (MMDAs) $126,845
    Other savings deposits (excluding MMDAs) $197,285
    Total time deposits $48,723
    Total time and savings deposits $395,738
    Noninterest-bearing deposits $102,022
    Interest-bearing deposits $321,087
    Retail deposits $417,028
    IRAs and Keogh plan accounts $9,489
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $463,292
    Cash & Balances due from depository institutions $19,568
    Interest-bearing balances $9,980
    Total securities $88,410
    Federal funds sold & reverse repurchase $0
    Net loans and leases $321,500
    Loan and leases loss allowance $4,977
    Trading account assets $0
    Bank premises and fixed assets $20,348
    Other real estate owned $7,464
    Goodwill and other intangibles $0
    All other assets $6,002

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $463,292
    Total Liabilities $424,316
    Total deposits $423,109
    Interest-bearing deposits $321,087
    Deposits held in domestic offices $423,109
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,207

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $321,500
    Loan and leases loss allowance $4,977
    Total loans and leases (domestic) $326,477
    All real estate loans $266,271
    Real estate loans in domestic offices $266,271
    Construction and development loans $33,935
    Residential 1-4 family construction $8,966
    Other construction, all land development and other land $24,969
    Loans secured by nonfarm nonresidential properties $156,486
    Nonfarm nonresidential secured by owner-occupied properties $82,156
    Commercial real estate & other non-farm, non-residential $74,330
    Multifamily residential real estate $7,504
    1-4 family residential loans $50,345
    Farmland loans $18,001
    Loans held in foreign offices $0
    Farm loans $10,116
    Commercial and industrial loans $45,853
    To non-U.S. addressees $0
    Loans to individuals $3,441
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $1,162
    Other loans to individuals $2,279
    All other loans & leases $796
    Loans to foreign governments and official institutions $0
    Other loans $420
    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 $19
    Non 1-4 family restructured loans & leases $19
    Total loans and leases (foreign) $0

    Legacy Bank had $321,500,000 of loans outstanding in 2018. $266,271,000 of loans were in real estate loans. $33,935,000 of loans were in development loans. $7,504,000 of loans were in multifamily mortgage loans. $50,345,000 of loans were in 1-4 family mortgage loans. $10,116,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,162,000 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 157 $29,708 $189,223
    Nonfarm, nonresidential loans - <$100k 31 $1,188 $38,323
    Nonfarm, nonresidential loans - $100-250k 55 $5,694 $103,527
    Nonfarm, nonresidential loans - $250k-1MM 71 $22,826 $321,493
    Commercial & Industrial, US addressed loans - <$1MM 560 $30,240 $54,000
    Commercial & Industrial, US addressed loans - <$100k 423 $10,798 $25,527
    Commercial & Industrial, US addressed loans - $100-250k 85 $8,099 $95,282
    Commercial & Industrial, US addressed loans - $250k-1MM 52 $11,343 $218,135
    Farmland loans - <$1MM 94 $9,090 $96,702
    Farmland loans - <$100k 51 $1,891 $37,078
    Farmland loans - $100-250k 32 $3,901 $121,906
    Farmland loans - $250k-1MM 11 $3,298 $299,818
    Agriculture operations loans - <$1MM 211 $7,350 $34,834
    Agriculture operations loans - <$100k 176 $3,144 $17,864
    Agriculture operations loans - $100-250k 27 $2,566 $95,037
    Agriculture operations loans - $250k-1MM 8 $1,640 $205,000