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 and Refi loans. Legacy Bank has a high proportion of conventional loans. Their top markets by origination volume include: Oklahoma City, Weatherford, Duncan, Mcalester, and Phoenix among others. We have data for 16 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.

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Originations

202

Origination Dollar Volume (All Markets)

$40,550,000

Employee count

154

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)	136	$32,300,000	$237,500	$0	0.00%
Weatherford, OK (FHA\|USDA\|VA)	12	$2,120,000	$176,667	$0	0.00%
Duncan, OK (FHA\|USDA\|VA)	25	$1,425,000	$57,000	$0	0.00%
McAlester, OK (FHA\|USDA\|VA)	2	$1,200,000	$600,000	$0	0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	1	$865,000	$865,000	$0	0.00%
Outside of Metro Areas	9	$595,000	$66,111	$0	0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA\|USDA\|VA)	1	$565,000	$565,000	$0	0.00%
Ardmore, OK (FHA\|USDA\|VA)	3	$305,000	$101,667	$0	0.00%
Dallas-Fort Worth-Arlington, TX (FHA\|USDA\|VA)	1	$295,000	$295,000	$0	0.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA\|USDA\|VA)	2	$230,000	$115,000	$0	0.00%
Elk City, OK (FHA\|USDA\|VA)	2	$160,000	$80,000	$0	0.00%
LAWTON, OK (FHA\|USDA\|VA)	3	$135,000	$45,000	$0	0.00%
Stillwater, OK (FHA\|USDA\|VA)	1	$125,000	$125,000	$0	0.00%
TULSA, OK (FHA\|USDA\|VA)	2	$100,000	$50,000	$0	0.00%
Shawnee, OK (FHA\|USDA\|VA)	1	$85,000	$85,000	$0	0.00%
Pampa, TX (FHA\|USDA\|VA)	1	$45,000	$45,000	$0	0.00%

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

Their top states include:

Oklahoma (FHA|USDA|VA)

Arizona (FHA|USDA|VA)

Texas (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Kansas (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	202	$40,550,000	$200,743	$0	0.00%

For 2020, Legacy Bank's most frequently originated type of loan was Conventional, with 202 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	149	$25,485,000	$171,040	$0	0.00%
Refi	45	$10,975,000	$243,889	$0	0.00%
Home Improvement	5	$3,865,000	$773,000	$0	0.00%
Other	3	$225,000	$75,000	$0	0.00%

For 2020, Legacy Bank's most frequently cited loan purpose was Home Purchase, with 149 originations. The 2nd most popular reason was Refi, with 45 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	202	$40,550,000	$200,743	$0	0.00%

For 2020, Legacy Bank's most frequently cited loan duration was Other, with 202 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	113	$7,075,000	$62,611	$0	0.00%
$100k-200k	56	$7,210,000	$128,750	$0	0.00%
$200k-400k	21	$5,795,000	$275,952	$0	0.00%
$1MM+	5	$16,385,000	$3,277,000	$0	0.00%
$400k-600k	4	$1,880,000	$470,000	$0	0.00%
$600k-1MM	3	$2,205,000	$735,000	$0	0.00%

2020 saw Legacy Bank place emphasis on $100,000 or less loans with 113 originations, totaling $7,075,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	18	$1,730,000	$96,111	$0	0.00%
$75k-100k	13	$1,025,000	$78,846	$0	0.00%
$150k-250k	11	$1,255,000	$114,091	$0	0.00%
$50k-75k	10	$480,000	$48,000	$0	0.00%
$250k+	5	$325,000	$65,000	$0	0.00%
$50k or less	5	$185,000	$37,000	$0	0.00%

Legacy Bank lent most frequently to those with incomes in the $100k-150k range, with 18 originations. The second most popular income band? $75k-100k, with 13 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	202	$40,550,000	$200,743	$0	0.00%

Legacy Bank lent most frequently to those with DTI ratios of Exempt%, with 202 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not applicable	138	$35,150,000	$254,710	$0	0.00%
White	60	$4,930,000	$82,167	$0	0.00%
Asian	1	$275,000	$275,000	$0	0.00%
American Indian	2	$120,000	$60,000	$0	0.00%
Not provided	1	$75,000	$75,000	$0	0.00%

Approval Rates

Total approvals of all applications
89.83%

Legacy Bank has an average approval rate.

Pick Rate

Approvals leading to origination
95.05%

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	202	$40,550,000	$200,743

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	12	$18,110,000	$1,509,167
Single Family (1-4 Units):Manufactured	4	$190,000	$47,500
Single Family (1-4 Units):Site-Built	186	$22,250,000	$119,624

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Legacy Bank	225 West Main Street Binger, OK 73009	Full Service B&M	$26,345
Legacy Bank	1000 North Main Street Blanchard, OK 73010	Full Service B&M	$50,400
Legacy Bank	101 West Main Hinton, OK 73047	Full Service B&M	$51,688
Legacy Bank	13216 N Macarthur Oklahoma City, OK 73142	Full Service B&M	$25,924
Legacy Bank	1401 S. Broadway Marlow, OK 73055	Full Service B&M	$15,754
Legacy Bank	2100 North Highway 81 Duncan, OK 73533	Full Service B&M	$66,852
Legacy Bank	2801 W Memorial Road Oklahoma City, OK 73134	Full Service B&M	$85,973
Legacy Bank	509 Northwest 32nd Street Newcastle, OK 73065	Full Service B&M	$39,059
Legacy Bank	701-723 E. Main Street Weatherford, OK 73096	Full Service B&M	$42,107
Legacy Bank	921 West Third Street Elk City, OK 73644	Full Service B&M	$49,910

For 2020, Legacy Bank had 10 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$30,000
Net interest income	$27,099
Total noninterest income	$3,274
Gross Fiduciary activities income	$39
Service charges on deposit accounts	$1,456
Trading account gains and fees	$0
Additional Noninterest Income	$1,779
Pre-tax net operating income	$7,510
Securities gains (or losses, -)	$15
Income before extraordinary items	$5,353
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$5,353
Minority interest net income	$0
Net income	$5,353
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$5,341

Legacy Bank's gross interest income from loans was $30,000,000.
Legacy Bank's net interest income from loans was $27,099,000.
Legacy Bank's fee based income from loans was $1,456,000.
Legacy Bank's net income from loans was $5,353,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,901
Provision for credit losses	$970
Total noninterest expense	$21,893
Salaries and employee benefits	$13,712
Premises and equipment expense	$2,417
Additional noninterest expense	$5,764
Applicable income taxes	$2,172
Net charge-offs	$-279
Cash dividends	$3,181

Legacy Bank's interest expense for loans was $2,901,000.
Legacy Bank's payroll and benefits expense were $13,712,000.
Legacy Bank's property, plant and equipment expenses $2,417,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	2.0%
Real Estate loans	5.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	9.0%
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	$471,357
Deposits held in domestic offices	$471,357
Deposits by Individuals, partnerships, and corporations	$469,004
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$2,353
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	$56,912
Demand deposits	$34,706
Nontransaction accounts	$414,445
Money market deposit accounts (MMDAs)	$140,607
Other savings deposits (excluding MMDAs)	$230,820
Total time deposits	$43,018
Total time and savings deposits	$436,651
Noninterest-bearing deposits	$136,668
Interest-bearing deposits	$334,689
Retail deposits	$465,339
IRAs and Keogh plan accounts	$9,201
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$792,725
Cash & Balances due from depository institutions	$51,286
Interest-bearing balances	$43,107
Total securities	$63,494
Federal funds sold & reverse repurchase	$0
Net loans and leases	$647,202
Loan and leases loss allowance	$5,968
Trading account assets	$0
Bank premises and fixed assets	$20,052
Other real estate owned	$25
Goodwill and other intangibles	$0
All other assets	$10,666

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$792,725
Total Liabilities	$749,999
Total deposits	$471,357
Interest-bearing deposits	$334,689
Deposits held in domestic offices	$471,357
% insured (estimated)	$88
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$274,115
Subordinated debt	$0
All other liabilities	$4,527

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$647,202
Loan and leases loss allowance	$5,968
Total loans and leases (domestic)	$653,170
All real estate loans	$311,199
Real estate loans in domestic offices	$311,199
Construction and development loans	$43,877
Residential 1-4 family construction	$8,458
Other construction, all land development and other land	$35,419
Loans secured by nonfarm nonresidential properties	$156,039
Nonfarm nonresidential secured by owner-occupied properties	$66,447
Commercial real estate & other non-farm, non-residential	$89,592
Multifamily residential real estate	$9,016
1-4 family residential loans	$76,417
Farmland loans	$25,850
Loans held in foreign offices	$0
Farm loans	$10,452
Commercial and industrial loans	$324,923
To non-U.S. addressees	$0
Loans to individuals	$6,208
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$2,820
Other loans to individuals	$3,388
All other loans & leases	$388
Loans to foreign governments and official institutions	$0
Other loans	$62
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	$11
Non 1-4 family restructured loans & leases	$11
Total loans and leases (foreign)	$0

Legacy Bank had $647,202,000 of loans outstanding in 2020. $311,199,000 of loans were in real estate loans. $43,877,000 of loans were in development loans. $9,016,000 of loans were in multifamily mortgage loans. $76,417,000 of loans were in 1-4 family mortgage loans. $10,452,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,820,000 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	149	$33,140	$222,416
Nonfarm, nonresidential loans - <$100k	30	$1,419	$47,300
Nonfarm, nonresidential loans - $100-250k	54	$6,543	$121,167
Nonfarm, nonresidential loans - $250k-1MM	65	$25,178	$387,354
Commercial & Industrial, US addressed loans - <$1MM	2,148	$198,155	$92,251
Commercial & Industrial, US addressed loans - <$100k	1,676	$41,082	$24,512
Commercial & Industrial, US addressed loans - $100-250k	235	$33,525	$142,660
Commercial & Industrial, US addressed loans - $250k-1MM	237	$123,548	$521,300
Farmland loans - <$1MM	84	$9,196	$109,476
Farmland loans - <$100k	44	$1,524	$34,636
Farmland loans - $100-250k	27	$3,686	$136,519
Farmland loans - $250k-1MM	13	$3,986	$306,615
Agriculture operations loans - <$1MM	140	$5,688	$40,629
Agriculture operations loans - <$100k	120	$2,773	$23,108
Agriculture operations loans - $100-250k	12	$1,257	$104,750
Agriculture operations loans - $250k-1MM	8	$1,658	$207,250