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, Daphne, Manhattan, Tulsa, and Salina 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
144Origination Dollar Volume (All Markets)
$30,310,000Employee 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) | 134 | $29,170,000 | $217,687 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $0 | 0.00% |
| Outside of Metro Areas | 6 | $370,000 | $61,667 | $0 | 0.00% |
| MANHATTAN, KS (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| TULSA, OK (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Salina, KS (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 144 | $30,310,000 | $210,486 | $0 | 0.00% |
For 2021, 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 | 94 | $18,200,000 | $193,617 | $0 | 0.00% |
| Refi | 43 | $11,625,000 | $270,349 | $0 | 0.00% |
| Home Improvement | 7 | $485,000 | $69,286 | $0 | 0.00% |
For 2021, Legacy Bank's most frequently cited loan purpose was Home Purchase, with 94 originations. The 2nd most popular reason was Refi, with 43 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 144 | $30,310,000 | $210,486 | $0 | 0.00% |
For 2021, Legacy Bank's most frequently cited loan duration was Other, with 144 originations.
Loan Sizing
2021 saw Legacy Bank place emphasis on $100,000 or less loans with 54 originations, totaling $3,450,000 in origination value.
Applicant Income
Legacy Bank lent most frequently to those with incomes in the $50k or less range, with 17 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% | 144 | $30,310,000 | $210,486 | $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 applications94.94%
Legacy Bank has an average approval rate.
Pick Rate
Approvals leading to origination82.64%
Legacy Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 144 | $30,310,000 | $210,486 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Legacy Bank | 1100 East Douglas Avenue Wichita, KS 67214 | Full Service B&M | $9,307 |
| Legacy Bank | 123 East Chicago Colwich, KS 67030 | Full Service B&M | $78,174 |
| Legacy Bank | 223 South Main Street Pratt, KS 67124 | Full Service B&M | $109,024 |
| Legacy Bank | 3711 North Ridge Road Wichita, KS 67205 | Full Service B&M | $165,248 |
| Legacy Bank | 514 N Commercial Avenue Sedgwick, KS 67135 | Full Service B&M | $17,327 |
| Legacy Bank | 7555 West 21st Street Wichita, KS 67205 | Full Service B&M | $28,245 |
| Legacy Bank | 8015 E 22nd St N Wichita, KS 67226 | Full Service B&M | $22,932 |
| Legacy Bank | 8725 West Central Wichita, KS 67212 | Full Service B&M | $50,584 |
For 2021, Legacy Bank had 8 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $19,439 |
| Net interest income | $16,984 |
| Total noninterest income | $2,633 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $399 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,234 |
| Pre-tax net operating income | $6,194 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $4,903 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $4,903 |
| Minority interest net income | $0 |
| Net income | $4,903 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $4,903 |
Legacy Bank's gross interest income from loans was $19,439,000.
Legacy Bank's net interest income from loans was $16,984,000.
Legacy Bank's fee based income from loans was $399,000.
Legacy Bank's net income from loans was $4,903,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,455 |
| Provision for credit losses | $447 |
| Total noninterest expense | $12,976 |
| Salaries and employee benefits | $8,066 |
| Premises and equipment expense | $1,786 |
| Additional noninterest expense | $3,124 |
| Applicable income taxes | $1,291 |
| Net charge-offs | $238 |
| Cash dividends | $3,483 |
Legacy Bank's interest expense for loans was $2,455,000.
Legacy Bank's payroll and benefits expense were $8,066,000.
Legacy Bank's property, plant and equipment expenses $1,786,000.
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 | 3.0% |
| 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 | 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 | $535,276 |
| Deposits held in domestic offices | $535,276 |
| Deposits by Individuals, partnerships, and corporations | $478,669 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $50,911 |
| Deposits by Commercial banks and other depository institutions in U.S. | $5,696 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $214,341 |
| Demand deposits | $152,489 |
| Nontransaction accounts | $320,935 |
| Money market deposit accounts (MMDAs) | $167,835 |
| Other savings deposits (excluding MMDAs) | $59,135 |
| Total time deposits | $93,966 |
| Total time and savings deposits | $382,787 |
| Noninterest-bearing deposits | $142,450 |
| Interest-bearing deposits | $392,826 |
| Retail deposits | $507,091 |
| IRAs and Keogh plan accounts | $8,052 |
| Brokered deposits | $2,724 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $632,415 |
| Cash & Balances due from depository institutions | $135,149 |
| Interest-bearing balances | $127,628 |
| Total securities | $124,943 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $343,847 |
| Loan and leases loss allowance | $4,884 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $13,302 |
| Other real estate owned | $50 |
| Goodwill and other intangibles | $1,546 |
| All other assets | $13,578 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $632,415 |
| Total Liabilities | $574,205 |
| Total deposits | $535,276 |
| Interest-bearing deposits | $392,826 |
| Deposits held in domestic offices | $535,276 |
| % insured (estimated) | $68 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $35,000 |
| Subordinated debt | $0 |
| All other liabilities | $3,929 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $343,847 |
| Loan and leases loss allowance | $4,884 |
| Total loans and leases (domestic) | $348,731 |
| All real estate loans | $281,285 |
| Real estate loans in domestic offices | $281,285 |
| Construction and development loans | $49,673 |
| Residential 1-4 family construction | $23,727 |
| Other construction, all land development and other land | $25,946 |
| Loans secured by nonfarm nonresidential properties | $125,338 |
| Nonfarm nonresidential secured by owner-occupied properties | $47,155 |
| Commercial real estate & other non-farm, non-residential | $78,183 |
| Multifamily residential real estate | $2,822 |
| 1-4 family residential loans | $84,684 |
| Farmland loans | $18,768 |
| Loans held in foreign offices | $0 |
| Farm loans | $18,093 |
| Commercial and industrial loans | $45,931 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,657 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $1,257 |
| Other loans to individuals | $1,400 |
| All other loans & leases | $767 |
| 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 | $576 |
| Non 1-4 family restructured loans & leases | $576 |
| Total loans and leases (foreign) | $0 |
Legacy Bank had $343,847,000 of loans outstanding in 2021. $281,285,000 of loans were in real estate loans. $49,673,000 of loans were in development loans. $2,822,000 of loans were in multifamily mortgage loans. $84,684,000 of loans were in 1-4 family mortgage loans. $18,093,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,257,000 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 | 140 | $31,610 | $225,786 |
| Nonfarm, nonresidential loans - <$100k | 30 | $1,194 | $39,800 |
| Nonfarm, nonresidential loans - $100-250k | 52 | $6,616 | $127,231 |
| Nonfarm, nonresidential loans - $250k-1MM | 58 | $23,800 | $410,345 |
| Commercial & Industrial, US addressed loans - <$1MM | 226 | $25,511 | $112,881 |
| Commercial & Industrial, US addressed loans - <$100k | 119 | $3,195 | $26,849 |
| Commercial & Industrial, US addressed loans - $100-250k | 58 | $5,738 | $98,931 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 49 | $16,578 | $338,327 |
| Farmland loans - <$1MM | 51 | $6,224 | $122,039 |
| Farmland loans - <$100k | 13 | $654 | $50,308 |
| Farmland loans - $100-250k | 26 | $3,011 | $115,808 |
| Farmland loans - $250k-1MM | 12 | $2,559 | $213,250 |
| Agriculture operations loans - <$1MM | 76 | $6,334 | $83,342 |
| Agriculture operations loans - <$100k | 41 | $963 | $23,488 |
| Agriculture operations loans - $100-250k | 23 | $2,745 | $119,348 |
| Agriculture operations loans - $250k-1MM | 12 | $2,626 | $218,833 |