Bank Of Lexington Mortgage Rates, Fees & Info

Lexington, KY

LEI: 549300QLZWERAXKGEP54

Tax ID: 20-4238096

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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 Home Purchase and Refi loans. Bank Of Lexington has a high proportion of conventional loans. Their top markets by origination volume include: Lexington, Richmond, and Danville among others. We have data for 4 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.

    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.

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    Originations

    106

    Origination Dollar Volume (All Markets)

    $23,870,000

    Employee count

    49

    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) 101 $23,495,000 $232,624 $0 0.00%
    Richmond-Berea, KY (FHA|USDA|VA) 3 $215,000 $71,667 $0 0.00%
    Danville, KY (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
    Outside of Metro Areas 1 $35,000 $35,000 $0 0.00%
    Bank Of Lexington's top markets include Lexington, Richmond, and Danville among others.

    Their top states include:
  • Kentucky (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.

    COMMONWEALTH
    Similarity Rank: 240
    Peoples Exchange Bank
    Similarity Rank: 344
    MORTGAGE SUPPLIERS, INC.
    Similarity Rank: 578
    MEMBERS HERITAGE Credit Union
    Similarity Rank: 640
    Kentucky Bank
    Similarity Rank: 672
    Guardian Savings Bank, A Federal Savings Bank
    Similarity Rank: 720
    Traditional Bank, Inc.
    Similarity Rank: 962
    PARK COMMUNITY CREDIT UNION, INC.
    Similarity Rank: 1168
    Central Bank
    Similarity Rank: 1200
    City National Bank of West Virginia
    Similarity Rank: 1209

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 106 $23,870,000 $225,189 $0 0.00%

    For 2019, Bank Of Lexington's most frequently originated type of loan was Conventional, with 106 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 59 $10,515,000 $178,220 $0 0.00%
    Refi 43 $13,015,000 $302,674 $0 0.00%
    Home Improvement 2 $320,000 $160,000 $0 0.00%
    Other 2 $20,000 $10,000 $0 0.00%

    For 2019, Bank Of Lexington's most frequently cited loan purpose was Home Purchase, with 59 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 106 $23,870,000 $225,189 $0 0.00%

    For 2019, Bank Of Lexington's most frequently cited loan duration was Other, with 106 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 40 $5,570,000 $139,250 $0 0.00%
    $100,000 or less 30 $2,040,000 $68,000 $0 0.00%
    $200k-400k 27 $7,335,000 $271,667 $0 0.00%
    $400k-600k 4 $1,960,000 $490,000 $0 0.00%
    $600k-1MM 3 $2,235,000 $745,000 $0 0.00%
    $1MM+ 2 $4,730,000 $2,365,000 $0 0.00%

    2019 saw Bank Of Lexington place emphasis on $100k-200k loans with 40 originations, totaling $5,570,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 15 $4,035,000 $269,000 $0 0.00%
    $100k-150k 11 $1,735,000 $157,727 $0 0.00%
    $250k+ 9 $3,185,000 $353,889 $0 0.00%
    $50k-75k 8 $1,160,000 $145,000 $0 0.00%
    $50k or less 6 $880,000 $146,667 $0 0.00%
    $75k-100k 6 $770,000 $128,333 $0 0.00%

    Bank Of Lexington lent most frequently to those with incomes in the $150k-250k range, with 15 originations. The second most popular income band? $100k-150k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 106 $23,870,000 $225,189 $0 0.00%

    Bank Of Lexington lent most frequently to those with DTI ratios of Exempt%, with 106 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 62 $12,780,000 $206,129 $0 0.00%
    Not applicable 41 $10,845,000 $264,512 $0 0.00%
    Asian 3 $245,000 $81,667 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.86%

    Bank Of Lexington has an average approval rate.

    Pick Rate

    Approvals leading to origination
    42.45%

    Bank Of Lexington has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 106 $23,870,000 $225,189

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $6,105,000 $872,143
    Single Family (1-4 Units):Site-Built 99 $17,765,000 $179,444

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 1 7.1%
    BANK OF THE WEST Other type of mortgage Closing on a mortgage 1 7.1%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 2 14.3%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 6 42.9%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 7.1%

    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 $20,696
    Bank of Lexington, Inc. 761 Corporate Drive Lexington, KY 40503 Full Service B&M $191,005
    Bank of Lexington, Inc. 866 Malabu Drive Lexington, KY 40502 Full Service B&M $41,345

    For 2019, Bank Of Lexington had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,365
    Net interest income $8,243
    Total noninterest income $884
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $63
    Trading account gains and fees $0
    Additional Noninterest Income $821
    Pre-tax net operating income $2,618
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,158
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,158
    Minority interest net income $0
    Net income $2,158
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,158

    Bank Of Lexington's gross interest income from loans was $11,365,000.
    Bank Of Lexington's net interest income from loans was $8,243,000.
    Bank Of Lexington's fee based income from loans was $63,000.
    Bank Of Lexington's net income from loans was $2,158,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,122
    Provision for credit losses $0
    Total noninterest expense $6,509
    Salaries and employee benefits $3,794
    Premises and equipment expense $1,027
    Additional noninterest expense $1,688
    Applicable income taxes $460
    Net charge-offs $0
    Cash dividends $0

    Bank Of Lexington's interest expense for loans was $3,122,000.
    Bank Of Lexington's payroll and benefits expense were $3,794,000.
    Bank Of Lexington's property, plant and equipment expenses $1,027,000.

    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 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 $200,818
    Deposits held in domestic offices $200,818
    Deposits by Individuals, partnerships, and corporations $181,366
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $1,451
    Deposits by Commercial banks and other depository institutions in U.S. $18,001
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $48,345
    Demand deposits $33,470
    Nontransaction accounts $152,473
    Money market deposit accounts (MMDAs) $23,775
    Other savings deposits (excluding MMDAs) $5,803
    Total time deposits $122,895
    Total time and savings deposits $167,348
    Noninterest-bearing deposits $33,470
    Interest-bearing deposits $167,348
    Retail deposits $144,513
    IRAs and Keogh plan accounts $3,628
    Brokered deposits $46,580
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $248,225
    Cash & Balances due from depository institutions $26,555
    Interest-bearing balances $4,672
    Total securities $9,508
    Federal funds sold & reverse repurchase $0
    Net loans and leases $204,679
    Loan and leases loss allowance $1,854
    Trading account assets $0
    Bank premises and fixed assets $1,719
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $5,764

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $248,225
    Total Liabilities $217,759
    Total deposits $200,818
    Interest-bearing deposits $167,348
    Deposits held in domestic offices $200,818
    % insured (estimated) $89
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $16,000
    Subordinated debt $0
    All other liabilities $941

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $204,679
    Loan and leases loss allowance $1,854
    Total loans and leases (domestic) $206,533
    All real estate loans $202,389
    Real estate loans in domestic offices $202,389
    Construction and development loans $24,686
    Residential 1-4 family construction $8,214
    Other construction, all land development and other land $16,472
    Loans secured by nonfarm nonresidential properties $57,251
    Nonfarm nonresidential secured by owner-occupied properties $13,242
    Commercial real estate & other non-farm, non-residential $44,009
    Multifamily residential real estate $4,643
    1-4 family residential loans $113,039
    Farmland loans $2,770
    Loans held in foreign offices $0
    Farm loans $125
    Commercial and industrial loans $3,760
    To non-U.S. addressees $0
    Loans to individuals $381
    Credit card loans $0
    Related Plans $117
    Consumer Auto Loans $93
    Other loans to individuals $171
    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 $204,679,000 of loans outstanding in 2019. $202,389,000 of loans were in real estate loans. $24,686,000 of loans were in development loans. $4,643,000 of loans were in multifamily mortgage loans. $113,039,000 of loans were in 1-4 family mortgage loans. $125,000 of loans were in farm loans. $0 of loans were in credit card loans. $93,000 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 114 $33,323 $292,307
    Nonfarm, nonresidential loans - <$100k 20 $923 $46,150
    Nonfarm, nonresidential loans - $100-250k 29 $3,590 $123,793
    Nonfarm, nonresidential loans - $250k-1MM 65 $28,810 $443,231
    Commercial & Industrial, US addressed loans - <$1MM 77 $2,576 $33,455
    Commercial & Industrial, US addressed loans - <$100k 64 $1,400 $21,875
    Commercial & Industrial, US addressed loans - $100-250k 9 $429 $47,667
    Commercial & Industrial, US addressed loans - $250k-1MM 4 $747 $186,750
    Farmland loans - <$1MM 10 $2,770 $277,000
    Farmland loans - <$100k 1 $50 $50,000
    Farmland loans - $100-250k 3 $292 $97,333
    Farmland loans - $250k-1MM 6 $2,428 $404,667
    Agriculture operations loans - <$1MM 3 $125 $41,667
    Agriculture operations loans - <$100k 3 $125 $41,667