Legend Bank N.a. Mortgage Rates, Fees & Info

Bowie, TX

LEI: 549300GZ7AZQEUEDGU30

Tax ID: 75-0150372

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Legend Bank N.a. is a smaller bank specializing in Home Purchase loans. Legend Bank N.a. has a high proportion of conventional loans. Their top markets by origination volume include: Dallas, Bonham, Wichita Falls, Sherman, and Amarillo among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

Legend Bank N.a. 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

307

Origination Dollar Volume (All Markets)

$70,405,000

Employee count

174

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
Dallas-Fort Worth-Arlington, TX (FHA\|USDA\|VA)	130	$35,590,000	$273,769	$0	0.00%
Bonham, TX (FHA\|USDA\|VA)	36	$8,520,000	$236,667	$0	0.00%
Outside of Metro Areas	39	$6,955,000	$178,333	$0	0.00%
WICHITA FALLS, TX (FHA\|USDA\|VA)	35	$6,495,000	$185,571	$0	0.00%
SHERMAN-DENISON, TX (FHA\|USDA\|VA)	39	$6,485,000	$166,282	$0	0.00%
AMARILLO, TX (FHA\|USDA\|VA)	4	$1,070,000	$267,500	$0	0.00%
Paris, TX (FHA\|USDA\|VA)	6	$1,010,000	$168,333	$0	0.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA\|USDA\|VA)	3	$795,000	$265,000	$0	0.00%
Gainesville, TX (FHA\|USDA\|VA)	4	$610,000	$152,500	$0	0.00%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA\|USDA\|VA)	1	$585,000	$585,000	$0	0.00%
Granbury, TX (FHA\|USDA\|VA)	1	$455,000	$455,000	$0	0.00%
Los Angeles-Long Beach-Anaheim, CA (FHA\|USDA\|VA)	1	$435,000	$435,000	$0	0.00%
SPRINGFIELD, MO (FHA\|USDA\|VA)	1	$345,000	$345,000	$0	0.00%
LONGVIEW, TX (FHA\|USDA\|VA)	1	$275,000	$275,000	$0	0.00%
Vernon, TX (FHA\|USDA\|VA)	2	$250,000	$125,000	$0	0.00%
Ruidoso, NM (FHA\|USDA\|VA)	1	$205,000	$205,000	$0	0.00%
TULSA, OK (FHA\|USDA\|VA)	1	$145,000	$145,000	$0	0.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA\|USDA\|VA)	1	$95,000	$95,000	$0	0.00%
TYLER, TX (FHA\|USDA\|VA)	1	$85,000	$85,000	$0	0.00%

Legend Bank N.a.'s top markets include Dallas, Bonham, Wichita Falls, Sherman, and Amarillo among others.

Their top states include:

Texas (FHA|USDA|VA)

Oklahoma (FHA|USDA|VA)

California (FHA|USDA|VA)

Missouri (FHA|USDA|VA)

New Mexico (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	307	$70,405,000	$229,332	$0	0.00%

For 2021, Legend Bank N.a.'s most frequently originated type of loan was Conventional, with 307 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	198	$49,410,000	$249,545	$0	0.00%
Refi	71	$13,075,000	$184,155	$0	0.00%
Cash Out Refi	25	$5,805,000	$232,200	$0	0.00%
Home Improvement	10	$1,420,000	$142,000	$0	0.00%
Other	3	$695,000	$231,667	$0	0.00%

For 2021, Legend Bank N.a.'s most frequently cited loan purpose was Home Purchase, with 198 originations. The 2nd most popular reason was Refi, with 71 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	307	$70,405,000	$229,332	$0	0.00%

For 2021, Legend Bank N.a.'s most frequently cited loan duration was Other, with 307 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	132	$18,900,000	$143,182	$0	0.00%
$200k-400k	87	$24,285,000	$279,138	$0	0.00%
$100,000 or less	55	$3,785,000	$68,818	$0	0.00%
$400k-600k	24	$11,450,000	$477,083	$0	0.00%
$600k-1MM	5	$3,685,000	$737,000	$0	0.00%
$1MM+	4	$8,300,000	$2,075,000	$0	0.00%

2021 saw Legend Bank N.a. place emphasis on $100k-200k loans with 132 originations, totaling $18,900,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	44	$10,070,000	$228,864	$0	0.00%
$75k-100k	40	$7,920,000	$198,000	$0	0.00%
$50k-75k	36	$5,750,000	$159,722	$0	0.00%
$150k-250k	35	$9,315,000	$266,143	$0	0.00%
$250k+	27	$9,075,000	$336,111	$0	0.00%
$50k or less	27	$3,105,000	$115,000	$0	0.00%

Legend Bank N.a. lent most frequently to those with incomes in the $100k-150k range, with 44 originations. The second most popular income band? $75k-100k, with 40 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	307	$70,405,000	$229,332	$0	0.00%

Legend Bank N.a. lent most frequently to those with DTI ratios of Exempt%, with 307 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	190	$40,660,000	$214,000	$0	0.00%
Not applicable	97	$25,085,000	$258,608	$0	0.00%
Not provided	17	$3,575,000	$210,294	$0	0.00%
Asian	2	$840,000	$420,000	$0	0.00%
American Indian	1	$245,000	$245,000	$0	0.00%

Approval Rates

Total approvals of all applications
94.22%

Legend Bank N.a. has an average approval rate.

Pick Rate

Approvals leading to origination
92.83%

Legend Bank N.a. has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	307	$70,405,000	$229,332

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	307	$70,405,000	$229,332

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Legend Bank, N.A.	1002 E Omega Henrietta, TX 76365	Full Service B&M	$47,500
Legend Bank, N.A.	101 West Tarrant Bowie, TX 76230	Full Service B&M	$203,700
Legend Bank, N.A.	110 Franklin Street Alvord, TX 76225	Full Service B&M	$50,863
Legend Bank, N.A.	115 Clay Street Nocona, TX 76255	Full Service B&M	$103,954
Legend Bank, N.A.	1706 Fm 51 South Decatur, TX 76234	Full Service B&M	$108,890
Legend Bank, N.A.	201 W. Grand Whitewright, TX 75491	Full Service B&M	$35,504
Legend Bank, N.A.	2232 North Center Bonham, TX 75418	Limited, Drive-thru	$0
Legend Bank, N.A.	2500 Highway 82 West Whitesboro, TX 76273	Full Service B&M	$40,320
Legend Bank, N.A.	3001 Western Center Blvd Fort Worth, TX 76131	Full Service B&M	$23,296
Legend Bank, N.A.	3608 Fm 691 Sherman, TX 75090	Full Service B&M	$22,006
Legend Bank, N.A.	3710 Fairway Blvd Wichita Falls, TX 76310	Full Service B&M	$13,574
Legend Bank, N.A.	45 Texas Highway 24 North Cooper, TX 75432	Full Service B&M	$23,192
Legend Bank, N.A.	502 North Center Street Bonham, TX 75418	Full Service B&M	$128,193
Legend Bank, N.A.	6851 Ne Loop 820, Ste 100 North Richland Hills, TX 76180	Full Service B&M	$29,936
Legend Bank, N.A.	910 W Business 380 Decatur, TX 76234	Limited, Administrative	$0

For 2021, Legend Bank N.a. had 15 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$36,128
Net interest income	$35,011
Total noninterest income	$6,621
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$2,421
Trading account gains and fees	$0
Additional Noninterest Income	$4,200
Pre-tax net operating income	$13,986
Securities gains (or losses, -)	$231
Income before extraordinary items	$14,217
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$14,217
Minority interest net income	$0
Net income	$14,217
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$13,986

Legend Bank N.a.'s gross interest income from loans was $36,128,000.
Legend Bank N.a.'s net interest income from loans was $35,011,000.
Legend Bank N.a.'s fee based income from loans was $2,421,000.
Legend Bank N.a.'s net income from loans was $14,217,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,117
Provision for credit losses	$897
Total noninterest expense	$26,749
Salaries and employee benefits	$16,812
Premises and equipment expense	$2,773
Additional noninterest expense	$7,164
Applicable income taxes	$0
Net charge-offs	$-117
Cash dividends	$6,344

Legend Bank N.a.'s interest expense for loans was $1,117,000.
Legend Bank N.a.'s payroll and benefits expense were $16,812,000.
Legend Bank N.a.'s property, plant and equipment expenses $2,773,000.

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	$840,441
Deposits held in domestic offices	$840,441
Deposits by Individuals, partnerships, and corporations	$776,574
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$63,381
Deposits by Commercial banks and other depository institutions in U.S.	$486
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$506,157
Demand deposits	$254,303
Nontransaction accounts	$334,284
Money market deposit accounts (MMDAs)	$103,896
Other savings deposits (excluding MMDAs)	$90,315
Total time deposits	$140,073
Total time and savings deposits	$586,138
Noninterest-bearing deposits	$254,049
Interest-bearing deposits	$586,392
Retail deposits	$813,892
IRAs and Keogh plan accounts	$20,705
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$952,350
Cash & Balances due from depository institutions	$11,019
Interest-bearing balances	$449
Total securities	$256,567
Federal funds sold & reverse repurchase	$24,500
Net loans and leases	$590,066
Loan and leases loss allowance	$8,690
Trading account assets	$0
Bank premises and fixed assets	$21,973
Other real estate owned	$2,373
Goodwill and other intangibles	$12,848
All other assets	$33,004

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$952,350
Total Liabilities	$850,643
Total deposits	$840,441
Interest-bearing deposits	$586,392
Deposits held in domestic offices	$840,441
% insured (estimated)	$76
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$10,202

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$590,066
Loan and leases loss allowance	$8,690
Total loans and leases (domestic)	$598,756
All real estate loans	$420,835
Real estate loans in domestic offices	$420,835
Construction and development loans	$34,111
Residential 1-4 family construction	$18,136
Other construction, all land development and other land	$15,975
Loans secured by nonfarm nonresidential properties	$200,637
Nonfarm nonresidential secured by owner-occupied properties	$104,335
Commercial real estate & other non-farm, non-residential	$96,302
Multifamily residential real estate	$17,101
1-4 family residential loans	$112,983
Farmland loans	$56,003
Loans held in foreign offices	$0
Farm loans	$69,606
Commercial and industrial loans	$88,715
To non-U.S. addressees	$0
Loans to individuals	$6,962
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$2,714
Other loans to individuals	$4,248
All other loans & leases	$12,638
Loans to foreign governments and official institutions	$0
Other loans	$749
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	$3,673
Non 1-4 family restructured loans & leases	$3,512
Total loans and leases (foreign)	$0

Legend Bank N.A. had $590,066,000 of loans outstanding in 2021. $420,835,000 of loans were in real estate loans. $34,111,000 of loans were in development loans. $17,101,000 of loans were in multifamily mortgage loans. $112,983,000 of loans were in 1-4 family mortgage loans. $69,606,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,714,000 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	400	$74,875	$187,188
Nonfarm, nonresidential loans - <$100k	164	$7,568	$46,146
Nonfarm, nonresidential loans - $100-250k	114	$16,082	$141,070
Nonfarm, nonresidential loans - $250k-1MM	122	$51,225	$419,877
Commercial & Industrial, US addressed loans - <$1MM	794	$54,090	$68,123
Commercial & Industrial, US addressed loans - <$100k	637	$16,578	$26,025
Commercial & Industrial, US addressed loans - $100-250k	96	$12,503	$130,240
Commercial & Industrial, US addressed loans - $250k-1MM	61	$25,009	$409,984
Farmland loans - <$1MM	214	$29,311	$136,967
Farmland loans - <$100k	81	$4,128	$50,963
Farmland loans - $100-250k	78	$11,197	$143,551
Farmland loans - $250k-1MM	55	$13,986	$254,291
Agriculture operations loans - <$1MM	671	$32,759	$48,821
Agriculture operations loans - <$100k	572	$13,498	$23,598
Agriculture operations loans - $100-250k	63	$8,319	$132,048
Agriculture operations loans - $250k-1MM	36	$10,942	$303,944