Legacy Bank Mortgage Rates, Fees & Info

Hinton, OK

LEI: 549300E76OWAX7HQJX42

Tax ID: 73-0149048

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

Review & Overview

Legacy Bank is a smaller bank specializing in Home Purchase loans. Legacy Bank has a high proportion of conventional loans. Their top markets by origination volume include: Oklahoma City, Duncan, Weatherford, Phoenix, and Tulsa among others. We have data for 9 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 average pick rate when compared to similar lenders.

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Originations

152

Origination Dollar Volume (All Markets)

$18,570,000

Employee count

166

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)	91	$12,325,000	$135,440	$0	0.00%
Duncan, OK (FHA\|USDA\|VA)	26	$1,530,000	$58,846	$0	0.00%
Weatherford, OK (FHA\|USDA\|VA)	10	$1,410,000	$141,000	$0	0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	2	$1,350,000	$675,000	$0	0.00%
TULSA, OK (FHA\|USDA\|VA)	8	$760,000	$95,000	$0	0.00%
LAWTON, OK (FHA\|USDA\|VA)	5	$595,000	$119,000	$0	0.00%
Outside of Metro Areas	6	$350,000	$58,333	$0	0.00%
Ardmore, OK (FHA\|USDA\|VA)	2	$160,000	$80,000	$0	0.00%
Elk City, OK (FHA\|USDA\|VA)	2	$90,000	$45,000	$0	0.00%

Legacy Bank's top markets include Oklahoma City, Duncan, Weatherford, Phoenix, and Tulsa among others.

Their top states include:

Oklahoma (FHA|USDA|VA)

Arizona (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	152	$18,570,000	$122,171	$0	0.00%

For 2019, Legacy Bank's most frequently originated type of loan was Conventional, with 152 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	114	$15,040,000	$131,930	$0	0.00%
Refi	26	$2,750,000	$105,769	$0	0.00%
Home Improvement	11	$765,000	$69,545	$0	0.00%
Other	1	$15,000	$15,000	$0	0.00%

For 2019, Legacy Bank's most frequently cited loan purpose was Home Purchase, with 114 originations. The 2nd most popular reason was Refi, with 26 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	152	$18,570,000	$122,171	$0	0.00%

For 2019, Legacy Bank's most frequently cited loan duration was Other, with 152 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	88	$4,740,000	$53,864	$0	0.00%
$100k-200k	36	$5,010,000	$139,167	$0	0.00%
$200k-400k	23	$5,895,000	$256,304	$0	0.00%
$400k-600k	3	$1,375,000	$458,333	$0	0.00%
$600k-1MM	2	$1,550,000	$775,000	$0	0.00%

2019 saw Legacy Bank place emphasis on $100,000 or less loans with 88 originations, totaling $4,740,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$75k-100k	13	$1,005,000	$77,308	$0	0.00%
$250k+	11	$1,195,000	$108,636	$0	0.00%
$150k-250k	10	$1,380,000	$138,000	$0	0.00%
$50k or less	10	$450,000	$45,000	$0	0.00%
$100k-150k	7	$645,000	$92,143	$0	0.00%
$50k-75k	5	$415,000	$83,000	$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? $250k+, with 11 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	152	$18,570,000	$122,171	$0	0.00%

Legacy Bank lent most frequently to those with DTI ratios of Exempt%, with 152 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not applicable	96	$13,480,000	$140,417	$0	0.00%
White	53	$4,775,000	$90,094	$0	0.00%
Asian	1	$255,000	$255,000	$0	0.00%
American Indian	1	$35,000	$35,000	$0	0.00%
Black	1	$25,000	$25,000	$0	0.00%

Approval Rates

Total approvals of all applications
80.60%

Legacy Bank has a below average approval rate.

Pick Rate

Approvals leading to origination
93.42%

Legacy Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	152	$18,570,000	$122,171

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	13	$3,745,000	$288,077
Single Family (1-4 Units):Manufactured	2	$150,000	$75,000
Single Family (1-4 Units):Site-Built	137	$14,675,000	$107,117

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Legacy Bank	1401 S. Broadway Marlow, OK 73055	Full Service B&M	$14,485
Legacy Bank	2100 North Highway 81 Duncan, OK 73533	Full Service B&M	$57,039
Legacy Bank	225 West Main Street Binger, OK 73009	Full Service B&M	$27,987
Legacy Bank	1000 North Main Street Blanchard, OK 73010	Full Service B&M	$49,492
Legacy Bank	101 West Main Hinton, OK 73047	Full Service B&M	$51,133
Legacy Bank	1289 E 15th, Ste.100 Edmond, OK 73013	Full Service B&M	$19,616
Legacy Bank	13216 N Macarthur Oklahoma City, OK 73142	Full Service B&M	$21,135
Legacy Bank	2801 W Memorial Road Oklahoma City, OK 73134	Full Service B&M	$58,731
Legacy Bank	509 Northwest 32nd Street Newcastle, OK 73065	Full Service B&M	$33,086
Legacy Bank	701-723 E. Main Street Weatherford, OK 73096	Full Service B&M	$37,898
Legacy Bank	921 West Third Street Elk City, OK 73644	Full Service B&M	$44,639

For 2019, Legacy Bank had 11 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$22,963
Net interest income	$20,136
Total noninterest income	$4,980
Gross Fiduciary activities income	$54
Service charges on deposit accounts	$1,798
Trading account gains and fees	$0
Additional Noninterest Income	$3,128
Pre-tax net operating income	$3,501
Securities gains (or losses, -)	$5
Income before extraordinary items	$3,506
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$3,506
Minority interest net income	$0
Net income	$3,506
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$3,501

Legacy Bank's gross interest income from loans was $22,963,000.
Legacy Bank's net interest income from loans was $20,136,000.
Legacy Bank's fee based income from loans was $1,798,000.
Legacy Bank's net income from loans was $3,506,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,827
Provision for credit losses	$6
Total noninterest expense	$21,609
Salaries and employee benefits	$12,808
Premises and equipment expense	$2,603
Additional noninterest expense	$6,198
Applicable income taxes	$0
Net charge-offs	$264
Cash dividends	$2,448

Legacy Bank's interest expense for loans was $2,827,000.
Legacy Bank's payroll and benefits expense were $12,808,000.
Legacy Bank's property, plant and equipment expenses $2,603,000.

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	1.0%
HELOC loans	0.0%
All other family	1.0%
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	$400,727
Deposits held in domestic offices	$400,727
Deposits by Individuals, partnerships, and corporations	$398,714
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$2,013
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	$50,519
Demand deposits	$29,620
Nontransaction accounts	$350,208
Money market deposit accounts (MMDAs)	$116,032
Other savings deposits (excluding MMDAs)	$192,124
Total time deposits	$42,052
Total time and savings deposits	$371,107
Noninterest-bearing deposits	$106,422
Interest-bearing deposits	$294,305
Retail deposits	$394,836
IRAs and Keogh plan accounts	$9,448
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$463,748
Cash & Balances due from depository institutions	$9,167
Interest-bearing balances	$240
Total securities	$82,317
Federal funds sold & reverse repurchase	$0
Net loans and leases	$339,834
Loan and leases loss allowance	$4,719
Trading account assets	$0
Bank premises and fixed assets	$20,364
Other real estate owned	$5,831
Goodwill and other intangibles	$0
All other assets	$6,235

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$463,748
Total Liabilities	$423,450
Total deposits	$400,727
Interest-bearing deposits	$294,305
Deposits held in domestic offices	$400,727
% insured (estimated)	$89
Federal funds purchased and repurchase agreements	$807
Trading liabilities	$0
Other borrowed funds	$20,000
Subordinated debt	$0
All other liabilities	$1,916

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$339,834
Loan and leases loss allowance	$4,719
Total loans and leases (domestic)	$344,553
All real estate loans	$275,428
Real estate loans in domestic offices	$275,428
Construction and development loans	$45,485
Residential 1-4 family construction	$10,363
Other construction, all land development and other land	$35,122
Loans secured by nonfarm nonresidential properties	$146,054
Nonfarm nonresidential secured by owner-occupied properties	$70,472
Commercial real estate & other non-farm, non-residential	$75,582
Multifamily residential real estate	$7,259
1-4 family residential loans	$57,517
Farmland loans	$19,113
Loans held in foreign offices	$0
Farm loans	$9,640
Commercial and industrial loans	$52,795
To non-U.S. addressees	$0
Loans to individuals	$5,667
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$2,625
Other loans to individuals	$3,042
All other loans & leases	$1,023
Loans to foreign governments and official institutions	$0
Other loans	$650
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	$15
Non 1-4 family restructured loans & leases	$15
Total loans and leases (foreign)	$0

Legacy Bank had $339,834,000 of loans outstanding in 2019. $275,428,000 of loans were in real estate loans. $45,485,000 of loans were in development loans. $7,259,000 of loans were in multifamily mortgage loans. $57,517,000 of loans were in 1-4 family mortgage loans. $9,640,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,625,000 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	133	$30,940	$232,632
Nonfarm, nonresidential loans - <$100k	23	$1,051	$45,696
Nonfarm, nonresidential loans - $100-250k	49	$5,751	$117,367
Nonfarm, nonresidential loans - $250k-1MM	61	$24,138	$395,705
Commercial & Industrial, US addressed loans - <$1MM	637	$41,027	$64,407
Commercial & Industrial, US addressed loans - <$100k	487	$15,110	$31,027
Commercial & Industrial, US addressed loans - $100-250k	103	$12,046	$116,951
Commercial & Industrial, US addressed loans - $250k-1MM	47	$13,871	$295,128
Farmland loans - <$1MM	85	$9,472	$111,435
Farmland loans - <$100k	43	$1,495	$34,767
Farmland loans - $100-250k	29	$4,125	$142,241
Farmland loans - $250k-1MM	13	$3,852	$296,308
Agriculture operations loans - <$1MM	137	$5,656	$41,285
Agriculture operations loans - <$100k	116	$2,451	$21,129
Agriculture operations loans - $100-250k	15	$1,728	$115,200
Agriculture operations loans - $250k-1MM	6	$1,477	$246,167