Legacy Bank Mortgage Rates, Fees & Info
Colwich, KSLEI: 549300EB748TPUCF9H23
Tax ID: 48-0435770
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Mortgage Data
Bank 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: Wichita, Key West, Hutchinson, Phoenix, 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 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.
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Originations
144Origination Dollar Volume (All Markets)
$31,480,000Employee count
95Top 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 |
|---|---|---|---|---|---|
| WICHITA, KS (FHA|USDA|VA) | 136 | $30,020,000 | $220,735 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $405,000 | $135,000 | $0 | 0.00% |
| Key West, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
| Hutchinson, KS (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| Winfield, KS (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 144 | $31,480,000 | $218,611 | $0 | 0.00% |
For 2018, Legacy Bank's most frequently originated type of loan was Conventional, with 144 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 106 | $20,450,000 | $192,925 | $0 | 0.00% |
| Refi | 32 | $10,720,000 | $335,000 | $0 | 0.00% |
| Home Improvement | 6 | $310,000 | $51,667 | $0 | 0.00% |
For 2018, Legacy Bank's most frequently cited loan purpose was Home Purchase, with 106 originations. The 2nd most popular reason was Refi, with 32 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 144 | $31,480,000 | $218,611 | $0 | 0.00% |
For 2018, Legacy Bank's most frequently cited loan duration was Other, with 144 originations.
Loan Sizing
2018 saw Legacy Bank place emphasis on $100,000 or less loans with 66 originations, totaling $3,880,000 in origination value.
Applicant Income
Legacy Bank lent most frequently to those with incomes in the $50k-75k range, with 13 originations. The second most popular income band? $100k-150k, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 144 | $31,480,000 | $218,611 | $0 | 0.00% |
Legacy Bank lent most frequently to those with DTI ratios of Exempt%, with 144 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.38%
Legacy Bank has an average approval rate.
Pick Rate
Approvals leading to origination84.03%
Legacy Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 144 | $31,480,000 | $218,611 |
Occupancy Type Mix
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Legacy Bank | 1100 East Douglas Avenue Wichita, KS 67214 | Full Service B&M | $2,007 |
| Legacy Bank | 123 East Chicago Colwich, KS 67030 | Full Service B&M | $58,703 |
| Legacy Bank | 2055 North Woodlawn Wichita, KS 67208 | Full Service B&M | $23,382 |
| Legacy Bank | 3711 North Ridge Road Wichita, KS 67205 | Full Service B&M | $125,409 |
| Legacy Bank | 514 N Commercial Avenue Sedgwick, KS 67135 | Full Service B&M | $16,177 |
| Legacy Bank | 7555 West 21st Street Wichita, KS 67205 | Full Service B&M | $24,343 |
| Legacy Bank | 8725 West Central Wichita, KS 67212 | Full Service B&M | $34,028 |
For 2018, Legacy Bank had 7 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $17,371 |
| Net interest income | $14,273 |
| Total noninterest income | $1,453 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $447 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,006 |
| Pre-tax net operating income | $4,560 |
| Securities gains (or losses, -) | $-26 |
| Income before extraordinary items | $3,475 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $3,475 |
| Minority interest net income | $0 |
| Net income | $3,475 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $3,495 |
Legacy Bank's gross interest income from loans was $17,371,000.
Legacy Bank's net interest income from loans was $14,273,000.
Legacy Bank's fee based income from loans was $447,000.
Legacy Bank's net income from loans was $3,475,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $3,098 |
| Provision for credit losses | $604 |
| Total noninterest expense | $10,562 |
| Salaries and employee benefits | $6,383 |
| Premises and equipment expense | $1,557 |
| Additional noninterest expense | $2,622 |
| Applicable income taxes | $1,059 |
| Net charge-offs | $279 |
| Cash dividends | $462 |
Legacy Bank's interest expense for loans was $3,098,000.
Legacy Bank's payroll and benefits expense were $6,383,000.
Legacy Bank's property, plant and equipment expenses $1,557,000.
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 | 0.0% |
| HELOC loans | 0.0% |
| All other family | 0.0% |
| Commercial & industrial loans | 1.0% |
| 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 | $350,991 |
| Deposits held in domestic offices | $350,991 |
| Deposits by Individuals, partnerships, and corporations | $308,339 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $41,234 |
| Deposits by Commercial banks and other depository institutions in U.S. | $1,418 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $140,618 |
| Demand deposits | $86,661 |
| Nontransaction accounts | $210,373 |
| Money market deposit accounts (MMDAs) | $74,203 |
| Other savings deposits (excluding MMDAs) | $31,798 |
| Total time deposits | $104,372 |
| Total time and savings deposits | $264,330 |
| Noninterest-bearing deposits | $84,922 |
| Interest-bearing deposits | $266,069 |
| Retail deposits | $320,285 |
| IRAs and Keogh plan accounts | $8,814 |
| Brokered deposits | $12,968 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $443,608 |
| Cash & Balances due from depository institutions | $28,444 |
| Interest-bearing balances | $17,734 |
| Total securities | $48,780 |
| Federal funds sold & reverse repurchase | $10,922 |
| Net loans and leases | $328,958 |
| Loan and leases loss allowance | $3,762 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $11,532 |
| Other real estate owned | $483 |
| Goodwill and other intangibles | $2,242 |
| All other assets | $12,247 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $443,608 |
| Total Liabilities | $394,462 |
| Total deposits | $350,991 |
| Interest-bearing deposits | $266,069 |
| Deposits held in domestic offices | $350,991 |
| % insured (estimated) | $79 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $40,000 |
| Subordinated debt | $0 |
| All other liabilities | $3,471 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $328,958 |
| Loan and leases loss allowance | $3,762 |
| Total loans and leases (domestic) | $332,720 |
| All real estate loans | $270,755 |
| Real estate loans in domestic offices | $270,755 |
| Construction and development loans | $37,124 |
| Residential 1-4 family construction | $16,286 |
| Other construction, all land development and other land | $20,838 |
| Loans secured by nonfarm nonresidential properties | $109,542 |
| Nonfarm nonresidential secured by owner-occupied properties | $50,837 |
| Commercial real estate & other non-farm, non-residential | $58,705 |
| Multifamily residential real estate | $2,449 |
| 1-4 family residential loans | $104,337 |
| Farmland loans | $17,303 |
| Loans held in foreign offices | $0 |
| Farm loans | $18,228 |
| Commercial and industrial loans | $40,264 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,619 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $1,154 |
| Other loans to individuals | $1,465 |
| All other loans & leases | $854 |
| 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 | $7,632 |
| Non 1-4 family restructured loans & leases | $7,332 |
| Total loans and leases (foreign) | $0 |
Legacy Bank had $328,958,000 of loans outstanding in 2018. $270,755,000 of loans were in real estate loans. $37,124,000 of loans were in development loans. $2,449,000 of loans were in multifamily mortgage loans. $104,337,000 of loans were in 1-4 family mortgage loans. $18,228,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,154,000 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 | 142 | $32,318 | $227,592 |
| Nonfarm, nonresidential loans - <$100k | 31 | $1,143 | $36,871 |
| Nonfarm, nonresidential loans - $100-250k | 58 | $8,379 | $144,466 |
| Nonfarm, nonresidential loans - $250k-1MM | 53 | $22,796 | $430,113 |
| Commercial & Industrial, US addressed loans - <$1MM | 245 | $23,747 | $96,927 |
| Commercial & Industrial, US addressed loans - <$100k | 147 | $4,053 | $27,571 |
| Commercial & Industrial, US addressed loans - $100-250k | 57 | $6,853 | $120,228 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 41 | $12,841 | $313,195 |
| Farmland loans - <$1MM | 55 | $6,973 | $126,782 |
| Farmland loans - <$100k | 21 | $958 | $45,619 |
| Farmland loans - $100-250k | 21 | $2,579 | $122,810 |
| Farmland loans - $250k-1MM | 13 | $3,436 | $264,308 |
| Agriculture operations loans - <$1MM | 88 | $8,966 | $101,886 |
| Agriculture operations loans - <$100k | 45 | $1,050 | $23,333 |
| Agriculture operations loans - $100-250k | 27 | $3,426 | $126,889 |
| Agriculture operations loans - $250k-1MM | 16 | $4,490 | $280,625 |