Bank Of Lexington Mortgage Rates, Fees & Info

Lexington, KY

LEI: 549300QLZWERAXKGEP54

Tax ID: 20-4238096

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Bank Of Lexington is a smaller bank specializing in Refi and Home Purchase loans. Bank Of Lexington has a high proportion of conventional loans. Their top markets by origination volume include: Lexington, Richmond, Charleston, Tuscaloosa, and Louisville among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bank Of Lexington 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. Bank Of Lexington is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    165

    Origination Dollar Volume (All Markets)

    $29,565,000

    Employee count

    46

    Awards

    Bank of Lexington 30 Year Conventional Loans gold Bank of Lexington 30 Year Conventional Loans gold
    Show all (2) awards

    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
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 155 $27,995,000 $180,613 $1,019 5.10%
    Richmond-Berea, KY (FHA|USDA|VA) 6 $1,060,000 $176,667 $974 5.16%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $255,000 $255,000 $0 5.00%
    TUSCALOOSA, AL (FHA|USDA|VA) 1 $145,000 $145,000 $0 5.25%
    Outside of Metro Areas 1 $75,000 $75,000 $674 5.50%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.25%
    Bank Of Lexington's top markets include Lexington, Richmond, Charleston, Tuscaloosa, and Louisville among others.

    Their top states include:
  • Kentucky (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Bank of Lexington based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Town Square Bank
    Similarity Rank: 90
    City National Bank of West Virginia
    Similarity Rank: 190
    Peoples Exchange Bank
    Similarity Rank: 315
    Bank of Lexington, Inc.
    Similarity Rank: 324
    PARK COMMUNITY CREDIT UNION, INC.
    Similarity Rank: 372
    MEMBERS HERITAGE Credit Union
    Similarity Rank: 396
    COMMONWEALTH
    Similarity Rank: 414
    SOUTH CENTRAL BANK, INC.
    Similarity Rank: 468
    Forcht Bank
    Similarity Rank: 504
    Traditional Bank, Inc.
    Similarity Rank: 611

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 165 $29,565,000 $179,182 $1,006 5.11%

    For 2018, Bank Of Lexington's most frequently originated type of loan was Conventional, with 165 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 90 $17,810,000 $197,889 $757 5.05%
    Home Purchase 69 $11,185,000 $162,101 $1,382 5.08%
    Other 5 $565,000 $113,000 $707 6.00%
    Home Improvement 1 $5,000 $5,000 $243 7.50%

    For 2018, Bank Of Lexington's most frequently cited loan purpose was Refi, with 90 originations. The 2nd most popular reason was Home Purchase, with 69 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 124 $22,680,000 $182,903 $818 5.04%
    30 Year 17 $2,485,000 $146,176 $1,194 5.32%
    1 Year 9 $1,645,000 $182,778 $1,930 5.01%
    Other 6 $1,650,000 $275,000 $536 5.08%
    15 Year 5 $885,000 $177,000 $825 5.98%
    5 Year 3 $155,000 $51,667 $563 5.67%
    20 Year 1 $65,000 $65,000 $638 4.99%

    For 2018, Bank Of Lexington's most frequently cited loan duration was 10 Year, with 124 originations. The 2nd most popular length was 30 Year, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 31 $4,075,000 $131,452
    $1k-2k 1 $455,000 $455,000

    Bank Of Lexington's average total fees were $1,194, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 31 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 102 $21,100,000 $206,863
    5-6% 59 $8,335,000 $141,271
    6-7% 2 $40,000 $20,000
    7-8% 2 $90,000 $45,000

    During 2018, Bank Of Lexington's average interest rate for loans was 5.32%, while their most frequently originated rate bucket for loans was 4-5%, with 102 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 62 $7,840,000 $126,452 $1,185 5.02%
    $100,000 or less 59 $4,095,000 $69,407 $889 5.27%
    $200k-400k 31 $8,225,000 $265,323 $926 5.04%
    $400k-600k 7 $3,115,000 $445,000 $1,456 4.84%
    $600k-1MM 4 $3,590,000 $897,500 $0 5.00%
    $1MM+ 2 $2,700,000 $1,350,000 $0 4.93%

    2018 saw Bank Of Lexington place emphasis on $100k-200k loans with 62 originations, totaling $7,840,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 17 $1,265,000 $74,412 $1,123 5.37%
    $250k+ 14 $4,670,000 $333,571 $979 5.05%
    $75k-100k 14 $3,470,000 $247,857 $977 5.18%
    $150k-250k 11 $1,715,000 $155,909 $956 5.19%
    $100k-150k 10 $1,020,000 $102,000 $944 5.49%
    $50k-75k 10 $990,000 $99,000 $819 5.17%

    Bank Of Lexington lent most frequently to those with incomes in the $50k or less range, with 17 originations. The second most popular income band? $250k+, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 9 $1,405,000 $156,111 $996 5.46%
    <20% 6 $610,000 $101,667 $730 5.29%
    20-30% 6 $1,100,000 $183,333 $1,290 5.52%
    40% 4 $460,000 $115,000 $862 5.88%
    42% 2 $160,000 $80,000 $1,039 5.69%
    36% 2 $350,000 $175,000 $1,040 4.94%
    37% 2 $180,000 $90,000 $623 6.25%
    39% 2 $190,000 $95,000 $1,542 5.38%
    38% 1 $245,000 $245,000 $914 4.99%

    Bank Of Lexington lent most frequently to those with DTI ratios of 30-36%, with 9 originations. The next most common DTI ratio? <20%, with 6 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 83 $15,095,000 $181,867 $0 5.00%
    White 77 $13,655,000 $177,338 $1,007 5.23%
    Asian Indian 1 $455,000 $455,000 $981 4.88%
    Not provided 2 $240,000 $120,000 $0 5.19%
    Asian 1 $85,000 $85,000 $0 5.13%
    Black 1 $35,000 $35,000 $0 4.99%

    Approval Rates

    Total approvals of all applications
    97.09%

    Bank Of Lexington has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    80.61%

    Bank Of Lexington has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 165 $29,565,000 $179,182

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 13 $8,215,000 $631,923
    Single Family (1-4 Units):Site-Built 152 $21,350,000 $140,461

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $2,475,000 $225,000 $1,106 5.31%
    40-60% 37 $5,035,000 $136,081 $844 5.02%
    60-80% 56 $13,260,000 $236,786 $1,044 5.07%
    80-100% 51 $7,745,000 $151,863 $1,347 5.01%
    Under 20% 10 $1,050,000 $105,000 $561 5.89%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 4 14.8%
    BANK OF THE WEST VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 3 11.1%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 5 18.5%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Incorrect information on your report 2 7.4%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 4 14.8%
    BANK OF THE WEST FHA mortgage Closing on a mortgage 1 3.7%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 1 3.7%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 3.7%
    BANK OF THE WEST Conventional home mortgage Closing on a mortgage 2 7.4%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bank of Lexington, Inc. 6409 Polo Club Lane Lexington, KY 40509 Full Service B&M $23,581
    Bank of Lexington, Inc. 761 Corporate Drive Lexington, KY 40503 Full Service B&M $141,912
    Bank of Lexington, Inc. 866 Malabu Drive Lexington, KY 40502 Full Service B&M $38,113

    For 2018, Bank Of Lexington had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,945
    Net interest income $8,516
    Total noninterest income $651
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $79
    Trading account gains and fees $0
    Additional Noninterest Income $572
    Pre-tax net operating income $99
    Securities gains (or losses, -) $0
    Income before extraordinary items $76
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $76
    Minority interest net income $0
    Net income $76
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $76

    Bank Of Lexington's gross interest income from loans was $10,945,000.
    Bank Of Lexington's net interest income from loans was $8,516,000.
    Bank Of Lexington's fee based income from loans was $79,000.
    Bank Of Lexington's net income from loans was $76,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,429
    Provision for credit losses $0
    Total noninterest expense $9,068
    Salaries and employee benefits $6,214
    Premises and equipment expense $1,019
    Additional noninterest expense $1,835
    Applicable income taxes $23
    Net charge-offs $1
    Cash dividends $300

    Bank Of Lexington's interest expense for loans was $2,429,000.
    Bank Of Lexington's payroll and benefits expense were $6,214,000.
    Bank Of Lexington's property, plant and equipment expenses $1,019,000.

    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 1.0%
    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 $206,165
    Deposits held in domestic offices $206,165
    Deposits by Individuals, partnerships, and corporations $180,937
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $1,851
    Deposits by Commercial banks and other depository institutions in U.S. $23,377
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $47,611
    Demand deposits $35,455
    Nontransaction accounts $158,554
    Money market deposit accounts (MMDAs) $28,709
    Other savings deposits (excluding MMDAs) $5,045
    Total time deposits $124,800
    Total time and savings deposits $170,710
    Noninterest-bearing deposits $35,455
    Interest-bearing deposits $170,710
    Retail deposits $152,805
    IRAs and Keogh plan accounts $3,393
    Brokered deposits $44,729
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $249,684
    Cash & Balances due from depository institutions $33,074
    Interest-bearing balances $10,331
    Total securities $10,854
    Federal funds sold & reverse repurchase $0
    Net loans and leases $201,619
    Loan and leases loss allowance $1,854
    Trading account assets $0
    Bank premises and fixed assets $1,772
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $2,365

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $249,684
    Total Liabilities $221,499
    Total deposits $206,165
    Interest-bearing deposits $170,710
    Deposits held in domestic offices $206,165
    % insured (estimated) $91
    Federal funds purchased and repurchase agreements $331
    Trading liabilities $0
    Other borrowed funds $14,000
    Subordinated debt $0
    All other liabilities $1,003

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $201,619
    Loan and leases loss allowance $1,854
    Total loans and leases (domestic) $203,473
    All real estate loans $200,190
    Real estate loans in domestic offices $200,190
    Construction and development loans $16,977
    Residential 1-4 family construction $11,592
    Other construction, all land development and other land $5,385
    Loans secured by nonfarm nonresidential properties $56,772
    Nonfarm nonresidential secured by owner-occupied properties $13,390
    Commercial real estate & other non-farm, non-residential $43,382
    Multifamily residential real estate $6,368
    1-4 family residential loans $117,211
    Farmland loans $2,862
    Loans held in foreign offices $0
    Farm loans $80
    Commercial and industrial loans $3,048
    To non-U.S. addressees $0
    Loans to individuals $262
    Credit card loans $0
    Related Plans $16
    Consumer Auto Loans $60
    Other loans to individuals $186
    All other loans & leases $0
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Bank of Lexington had $201,619,000 of loans outstanding in 2018. $200,190,000 of loans were in real estate loans. $16,977,000 of loans were in development loans. $6,368,000 of loans were in multifamily mortgage loans. $117,211,000 of loans were in 1-4 family mortgage loans. $80,000 of loans were in farm loans. $0 of loans were in credit card loans. $60,000 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 104 $31,614 $303,981
    Nonfarm, nonresidential loans - <$100k 15 $814 $54,267
    Nonfarm, nonresidential loans - $100-250k 29 $3,489 $120,310
    Nonfarm, nonresidential loans - $250k-1MM 60 $27,311 $455,183
    Commercial & Industrial, US addressed loans - <$1MM 87 $3,048 $35,034
    Commercial & Industrial, US addressed loans - <$100k 70 $1,593 $22,757
    Commercial & Industrial, US addressed loans - $100-250k 11 $724 $65,818
    Commercial & Industrial, US addressed loans - $250k-1MM 6 $731 $121,833
    Farmland loans - <$1MM 8 $1,290 $161,250
    Farmland loans - <$100k 3 $218 $72,667
    Farmland loans - $100-250k 3 $534 $178,000
    Farmland loans - $250k-1MM 2 $538 $269,000
    Agriculture operations loans - <$1MM 2 $80 $40,000
    Agriculture operations loans - <$100k 2 $80 $40,000