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, Tulsa, Cañon City, Manhattan, and Hutchinson among others. We have data for 6 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
142Origination Dollar Volume (All Markets)
$40,980,000Employee count
96Top 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) | 127 | $39,465,000 | $310,748 | $0 | 0.00% |
| Outside of Metro Areas | 8 | $530,000 | $66,250 | $0 | 0.00% |
| TULSA, OK (FHA|USDA|VA) | 4 | $480,000 | $120,000 | $0 | 0.00% |
| Cañon City, CO (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
| MANHATTAN, KS (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| Hutchinson, KS (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 142 | $40,980,000 | $288,592 | $0 | 0.00% |
For 2020, Legacy Bank's most frequently originated type of loan was Conventional, with 142 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 93 | $16,315,000 | $175,430 | $0 | 0.00% |
| Refi | 45 | $24,495,000 | $544,333 | $0 | 0.00% |
| Home Improvement | 4 | $170,000 | $42,500 | $0 | 0.00% |
For 2020, Legacy Bank's most frequently cited loan purpose was Home Purchase, with 93 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 | 142 | $40,980,000 | $288,592 | $0 | 0.00% |
For 2020, Legacy Bank's most frequently cited loan duration was Other, with 142 originations.
Loan Sizing
2020 saw Legacy Bank place emphasis on $100,000 or less loans with 69 originations, totaling $3,925,000 in origination value.
Applicant Income
Legacy Bank lent most frequently to those with incomes in the $50k-75k range, with 12 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% | 142 | $40,980,000 | $288,592 | $0 | 0.00% |
Legacy Bank lent most frequently to those with DTI ratios of Exempt%, with 142 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.09%
Legacy Bank has an average approval rate.
Pick Rate
Approvals leading to origination76.76%
Legacy Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 142 | $40,980,000 | $288,592 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 19 | $26,175,000 | $1,377,632 |
| Single Family (1-4 Units):Site-Built | 123 | $14,805,000 | $120,366 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Legacy Bank | 223 South Main Street Pratt, KS 67124 | Full Service B&M | $100,103 |
| Legacy Bank | 1100 East Douglas Avenue Wichita, KS 67214 | Full Service B&M | $6,914 |
| Legacy Bank | 123 East Chicago Colwich, KS 67030 | Full Service B&M | $65,732 |
| Legacy Bank | 3711 North Ridge Road Wichita, KS 67205 | Full Service B&M | $149,491 |
| Legacy Bank | 514 N Commercial Avenue Sedgwick, KS 67135 | Full Service B&M | $20,293 |
| Legacy Bank | 7555 West 21st Street Wichita, KS 67205 | Full Service B&M | $26,218 |
| Legacy Bank | 8015 E 22nd St N Wichita, KS 67226 | Full Service B&M | $22,225 |
| Legacy Bank | 8725 West Central Wichita, KS 67212 | Full Service B&M | $37,654 |
For 2020, Legacy Bank had 8 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $21,442 |
| Net interest income | $17,998 |
| Total noninterest income | $2,791 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $364 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,427 |
| Pre-tax net operating income | $6,902 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $5,309 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $5,309 |
| Minority interest net income | $0 |
| Net income | $5,309 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $5,309 |
Legacy Bank's gross interest income from loans was $21,442,000.
Legacy Bank's net interest income from loans was $17,998,000.
Legacy Bank's fee based income from loans was $364,000.
Legacy Bank's net income from loans was $5,309,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $3,444 |
| Provision for credit losses | $1,388 |
| Total noninterest expense | $12,499 |
| Salaries and employee benefits | $7,540 |
| Premises and equipment expense | $1,698 |
| Additional noninterest expense | $3,261 |
| Applicable income taxes | $1,593 |
| Net charge-offs | $696 |
| Cash dividends | $1,521 |
Legacy Bank's interest expense for loans was $3,444,000.
Legacy Bank's payroll and benefits expense were $7,540,000.
Legacy Bank's property, plant and equipment expenses $1,698,000.
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 | 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 | $472,882 |
| Deposits held in domestic offices | $472,882 |
| Deposits by Individuals, partnerships, and corporations | $418,632 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $45,664 |
| Deposits by Commercial banks and other depository institutions in U.S. | $8,586 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $190,868 |
| Demand deposits | $140,576 |
| Nontransaction accounts | $282,014 |
| Money market deposit accounts (MMDAs) | $129,784 |
| Other savings deposits (excluding MMDAs) | $45,501 |
| Total time deposits | $106,729 |
| Total time and savings deposits | $332,306 |
| Noninterest-bearing deposits | $130,703 |
| Interest-bearing deposits | $342,179 |
| Retail deposits | $441,904 |
| IRAs and Keogh plan accounts | $8,444 |
| Brokered deposits | $5,692 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $579,494 |
| Cash & Balances due from depository institutions | $104,468 |
| Interest-bearing balances | $95,559 |
| Total securities | $58,569 |
| Federal funds sold & reverse repurchase | $32,812 |
| Net loans and leases | $349,723 |
| Loan and leases loss allowance | $4,675 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $11,918 |
| Other real estate owned | $6,653 |
| Goodwill and other intangibles | $1,778 |
| All other assets | $13,573 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $579,494 |
| Total Liabilities | $521,554 |
| Total deposits | $472,882 |
| Interest-bearing deposits | $342,179 |
| Deposits held in domestic offices | $472,882 |
| % insured (estimated) | $72 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $45,000 |
| Subordinated debt | $0 |
| All other liabilities | $3,672 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $349,723 |
| Loan and leases loss allowance | $4,675 |
| Total loans and leases (domestic) | $354,398 |
| All real estate loans | $261,972 |
| Real estate loans in domestic offices | $261,972 |
| Construction and development loans | $36,020 |
| Residential 1-4 family construction | $17,838 |
| Other construction, all land development and other land | $18,182 |
| Loans secured by nonfarm nonresidential properties | $113,413 |
| Nonfarm nonresidential secured by owner-occupied properties | $43,207 |
| Commercial real estate & other non-farm, non-residential | $70,206 |
| Multifamily residential real estate | $3,802 |
| 1-4 family residential loans | $88,843 |
| Farmland loans | $19,894 |
| Loans held in foreign offices | $0 |
| Farm loans | $20,877 |
| Commercial and industrial loans | $68,984 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,265 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $1,006 |
| Other loans to individuals | $1,259 |
| All other loans & leases | $300 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $104 |
| 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 | $382 |
| Non 1-4 family restructured loans & leases | $88 |
| Total loans and leases (foreign) | $0 |
Legacy Bank had $349,723,000 of loans outstanding in 2020. $261,972,000 of loans were in real estate loans. $36,020,000 of loans were in development loans. $3,802,000 of loans were in multifamily mortgage loans. $88,843,000 of loans were in 1-4 family mortgage loans. $20,877,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,006,000 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 | 139 | $30,810 | $221,655 |
| Nonfarm, nonresidential loans - <$100k | 28 | $1,230 | $43,929 |
| Nonfarm, nonresidential loans - $100-250k | 53 | $6,655 | $125,566 |
| Nonfarm, nonresidential loans - $250k-1MM | 58 | $22,925 | $395,259 |
| Commercial & Industrial, US addressed loans - <$1MM | 224 | $25,640 | $114,464 |
| Commercial & Industrial, US addressed loans - <$100k | 114 | $2,813 | $24,675 |
| Commercial & Industrial, US addressed loans - $100-250k | 57 | $5,768 | $101,193 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 53 | $17,059 | $321,868 |
| Farmland loans - <$1MM | 52 | $6,435 | $123,750 |
| Farmland loans - <$100k | 16 | $797 | $49,813 |
| Farmland loans - $100-250k | 26 | $3,174 | $122,077 |
| Farmland loans - $250k-1MM | 10 | $2,464 | $246,400 |
| Agriculture operations loans - <$1MM | 97 | $9,539 | $98,340 |
| Agriculture operations loans - <$100k | 51 | $1,386 | $27,176 |
| Agriculture operations loans - $100-250k | 26 | $3,263 | $125,500 |
| Agriculture operations loans - $250k-1MM | 20 | $4,890 | $244,500 |