Legacy Bank Mortgage Rates, Fees & Info

Colwich, KS

LEI: 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, Mcpherson, Hutchinson, and Great Bend among others. We have data for 5 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 an above average pick rate when compared to similar lenders.

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Originations

161

Origination Dollar Volume (All Markets)

$24,135,000

Employee count

98

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
WICHITA, KS (FHA|USDA|VA) 150 $22,930,000 $152,867 $0 0.00%
Outside of Metro Areas 7 $795,000 $113,571 $0 0.00%
McPherson, KS (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
Hutchinson, KS (FHA|USDA|VA) 2 $150,000 $75,000 $0 0.00%
Great Bend, KS (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
Legacy Bank's top markets include Wichita, Mcpherson, Hutchinson, and Great Bend among others.

Their top states include:
  • Kansas (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 161 $24,135,000 $149,907 $0 0.00%

    For 2019, Legacy Bank's most frequently originated type of loan was Conventional, with 161 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 116 $14,390,000 $124,052 $0 0.00%
    Refi 36 $8,940,000 $248,333 $0 0.00%
    Home Improvement 6 $340,000 $56,667 $0 0.00%
    Cash Out Refi 3 $465,000 $155,000 $0 0.00%

    For 2019, Legacy Bank's most frequently cited loan purpose was Home Purchase, with 116 originations. The 2nd most popular reason was Refi, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 161 $24,135,000 $149,907 $0 0.00%

    For 2019, Legacy Bank's most frequently cited loan duration was Other, with 161 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 93 $4,895,000 $52,634 $0 0.00%
    $100k-200k 43 $6,345,000 $147,558 $0 0.00%
    $200k-400k 16 $4,290,000 $268,125 $0 0.00%
    $400k-600k 4 $1,790,000 $447,500 $0 0.00%
    $600k-1MM 3 $2,195,000 $731,667 $0 0.00%
    $1MM+ 2 $4,620,000 $2,310,000 $0 0.00%

    2019 saw Legacy Bank place emphasis on $100,000 or less loans with 93 originations, totaling $4,895,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 18 $2,870,000 $159,444 $0 0.00%
    $150k-250k 11 $1,935,000 $175,909 $0 0.00%
    $50k-75k 7 $525,000 $75,000 $0 0.00%
    $50k or less 7 $555,000 $79,286 $0 0.00%
    $250k+ 4 $710,000 $177,500 $0 0.00%
    $75k-100k 4 $1,140,000 $285,000 $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? $150k-250k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 161 $24,135,000 $149,907 $0 0.00%

    Legacy Bank lent most frequently to those with DTI ratios of Exempt%, with 161 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 107 $16,005,000 $149,579 $0 0.00%
    White 52 $8,030,000 $154,423 $0 0.00%
    Asian 2 $100,000 $50,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.65%

    Legacy Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.06%

    Legacy Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 161 $24,135,000 $149,907

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 9 $6,705,000 $745,000
    Single Family (1-4 Units):Manufactured 1 $55,000 $55,000
    Single Family (1-4 Units):Site-Built 151 $17,375,000 $115,066

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Legacy Bank 1100 East Douglas Avenue Wichita, KS 67214 Full Service B&M $2,676
    Legacy Bank 123 East Chicago Colwich, KS 67030 Full Service B&M $60,239
    Legacy Bank 2055 North Woodlawn Wichita, KS 67208 Full Service B&M $19,700
    Legacy Bank 223 South Main Street Pratt, KS 67124 Full Service B&M $86,027
    Legacy Bank 3711 North Ridge Road Wichita, KS 67205 Full Service B&M $114,047
    Legacy Bank 514 N Commercial Avenue Sedgwick, KS 67135 Full Service B&M $18,170
    Legacy Bank 7555 West 21st Street Wichita, KS 67205 Full Service B&M $22,894
    Legacy Bank 8725 West Central Wichita, KS 67212 Full Service B&M $32,984

    For 2019, Legacy Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $21,531
    Net interest income $17,437
    Total noninterest income $2,688
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $453
    Trading account gains and fees $0
    Additional Noninterest Income $2,235
    Pre-tax net operating income $7,491
    Securities gains (or losses, -) $0
    Income before extraordinary items $5,965
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,965
    Minority interest net income $0
    Net income $5,965
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,965

    Legacy Bank's gross interest income from loans was $21,531,000.
    Legacy Bank's net interest income from loans was $17,437,000.
    Legacy Bank's fee based income from loans was $453,000.
    Legacy Bank's net income from loans was $5,965,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,094
    Provision for credit losses $1,057
    Total noninterest expense $11,577
    Salaries and employee benefits $7,269
    Premises and equipment expense $1,687
    Additional noninterest expense $2,621
    Applicable income taxes $1,526
    Net charge-offs $836
    Cash dividends $2,612

    Legacy Bank's interest expense for loans was $4,094,000.
    Legacy Bank's payroll and benefits expense were $7,269,000.
    Legacy Bank's property, plant and equipment expenses $1,687,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 3.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 6.0%
    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 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $370,759
    Deposits held in domestic offices $370,759
    Deposits by Individuals, partnerships, and corporations $312,794
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $49,617
    Deposits by Commercial banks and other depository institutions in U.S. $8,348
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $139,555
    Demand deposits $90,128
    Nontransaction accounts $231,204
    Money market deposit accounts (MMDAs) $88,514
    Other savings deposits (excluding MMDAs) $33,525
    Total time deposits $109,165
    Total time and savings deposits $280,631
    Noninterest-bearing deposits $82,505
    Interest-bearing deposits $288,254
    Retail deposits $339,213
    IRAs and Keogh plan accounts $8,627
    Brokered deposits $10,692
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $468,066
    Cash & Balances due from depository institutions $9,039
    Interest-bearing balances $1,468
    Total securities $51,316
    Federal funds sold & reverse repurchase $28,865
    Net loans and leases $350,313
    Loan and leases loss allowance $3,983
    Trading account assets $0
    Bank premises and fixed assets $12,225
    Other real estate owned $728
    Goodwill and other intangibles $2,010
    All other assets $13,570

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $468,066
    Total Liabilities $414,681
    Total deposits $370,759
    Interest-bearing deposits $288,254
    Deposits held in domestic offices $370,759
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $40,000
    Subordinated debt $0
    All other liabilities $3,922

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $350,313
    Loan and leases loss allowance $3,983
    Total loans and leases (domestic) $354,296
    All real estate loans $288,573
    Real estate loans in domestic offices $288,573
    Construction and development loans $45,801
    Residential 1-4 family construction $22,446
    Other construction, all land development and other land $23,355
    Loans secured by nonfarm nonresidential properties $118,802
    Nonfarm nonresidential secured by owner-occupied properties $51,686
    Commercial real estate & other non-farm, non-residential $67,116
    Multifamily residential real estate $4,264
    1-4 family residential loans $102,216
    Farmland loans $17,490
    Loans held in foreign offices $0
    Farm loans $20,119
    Commercial and industrial loans $42,447
    To non-U.S. addressees $0
    Loans to individuals $2,462
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $1,128
    Other loans to individuals $1,334
    All other loans & leases $695
    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 $445
    Non 1-4 family restructured loans & leases $115
    Total loans and leases (foreign) $0

    Legacy Bank had $350,313,000 of loans outstanding in 2019. $288,573,000 of loans were in real estate loans. $45,801,000 of loans were in development loans. $4,264,000 of loans were in multifamily mortgage loans. $102,216,000 of loans were in 1-4 family mortgage loans. $20,119,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,128,000 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 137 $31,270 $228,248
    Nonfarm, nonresidential loans - <$100k 26 $1,199 $46,115
    Nonfarm, nonresidential loans - $100-250k 58 $7,182 $123,828
    Nonfarm, nonresidential loans - $250k-1MM 53 $22,889 $431,868
    Commercial & Industrial, US addressed loans - <$1MM 225 $25,006 $111,138
    Commercial & Industrial, US addressed loans - <$100k 126 $3,066 $24,333
    Commercial & Industrial, US addressed loans - $100-250k 53 $5,900 $111,321
    Commercial & Industrial, US addressed loans - $250k-1MM 46 $16,040 $348,696
    Farmland loans - <$1MM 59 $7,457 $126,390
    Farmland loans - <$100k 23 $1,070 $46,522
    Farmland loans - $100-250k 22 $2,719 $123,591
    Farmland loans - $250k-1MM 14 $3,668 $262,000
    Agriculture operations loans - <$1MM 85 $8,581 $100,953
    Agriculture operations loans - <$100k 44 $1,364 $31,000
    Agriculture operations loans - $100-250k 29 $4,016 $138,483
    Agriculture operations loans - $250k-1MM 12 $3,201 $266,750