Bank Of Lexington Mortgage Rates, Fees & Info
Lexington, KYLEI: 549300QLZWERAXKGEP54
Tax ID: 20-4238096
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Mortgage Data
Bank Data
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, North Port, Cincinnati, and Frankfort among others. We have data for 5 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.
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Originations
135Origination Dollar Volume (All Markets)
$52,265,000Employee count
43Top 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) | 127 | $50,545,000 | $397,992 | $0 | 0.00% |
| Richmond-Berea, KY (FHA|USDA|VA) | 5 | $985,000 | $197,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $0 | 0.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Frankfort, KY (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 135 | $52,265,000 | $387,148 | $0 | 0.00% |
For 2021, Bank Of Lexington's most frequently originated type of loan was Conventional, with 135 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 67 | $17,455,000 | $260,522 | $0 | 0.00% |
| Refi | 67 | $34,705,000 | $517,985 | $0 | 0.00% |
| Other | 1 | $105,000 | $105,000 | $0 | 0.00% |
For 2021, Bank Of Lexington's most frequently cited loan purpose was Home Purchase, with 67 originations. The 2nd most popular reason was Refi, with 67 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 135 | $52,265,000 | $387,148 | $0 | 0.00% |
For 2021, Bank Of Lexington's most frequently cited loan duration was Other, with 135 originations.
Loan Sizing
2021 saw Bank Of Lexington place emphasis on $100k-200k loans with 60 originations, totaling $8,700,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 54 | $18,410,000 | $340,926 | $0 | 0.00% |
Bank Of Lexington lent most frequently to those with incomes in the $50k or less range, with 54 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 135 | $52,265,000 | $387,148 | $0 | 0.00% |
Bank Of Lexington lent most frequently to those with DTI ratios of Exempt%, with 135 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.13%
Bank Of Lexington has an average approval rate.
Pick Rate
Approvals leading to origination45.93%
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 | 135 | $52,265,000 | $387,148 |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF THE WEST | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 5 | 16.7% |
| BANK OF THE WEST | VA mortgage | Trouble during payment process | 1 | 3.3% |
| BANK OF THE WEST | Other type of mortgage | Trouble during payment process | 2 | 6.7% |
| BANK OF THE WEST | Other type of mortgage | Struggling to pay mortgage | 1 | 3.3% |
| BANK OF THE WEST | Other type of mortgage | Closing on a mortgage | 1 | 3.3% |
| BANK OF THE WEST | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 3.3% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Trouble during payment process | 3 | 10.0% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 4 | 13.3% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 2 | 6.7% |
| BANK OF THE WEST | FHA mortgage | Trouble during payment process | 1 | 3.3% |
| BANK OF THE WEST | Conventional home mortgage | Struggling to pay mortgage | 2 | 6.7% |
| BANK OF THE WEST | Conventional home mortgage | Closing on a mortgage | 1 | 3.3% |
| BANK OF THE WEST | Conventional home mortgage | Trouble during payment process | 6 | 20.0% |
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 | $29,317 |
| Bank of Lexington, Inc. | 761 Corporate Drive Lexington, KY 40503 | Full Service B&M | $189,308 |
| Bank of Lexington, Inc. | 866 Malabu Drive Lexington, KY 40502 | Full Service B&M | $51,451 |
For 2021, Bank Of Lexington had 3 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $9,221 |
| Net interest income | $8,126 |
| Total noninterest income | $1,721 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $93 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,628 |
| Pre-tax net operating income | $3,133 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $2,372 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $2,372 |
| Minority interest net income | $0 |
| Net income | $2,372 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $2,372 |
Bank Of Lexington's gross interest income from loans was $9,221,000.
Bank Of Lexington's net interest income from loans was $8,126,000.
Bank Of Lexington's fee based income from loans was $93,000.
Bank Of Lexington's net income from loans was $2,372,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,095 |
| Provision for credit losses | $0 |
| Total noninterest expense | $6,714 |
| Salaries and employee benefits | $3,652 |
| Premises and equipment expense | $997 |
| Additional noninterest expense | $2,065 |
| Applicable income taxes | $761 |
| Net charge-offs | $-7 |
| Cash dividends | $1,000 |
Bank Of Lexington's interest expense for loans was $1,095,000.
Bank Of Lexington's payroll and benefits expense were $3,652,000.
Bank Of Lexington's property, plant and equipment expenses $997,000.
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 | $249,637 |
| Deposits held in domestic offices | $249,637 |
| Deposits by Individuals, partnerships, and corporations | $234,311 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $1,340 |
| Deposits by Commercial banks and other depository institutions in U.S. | $13,986 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $112,082 |
| Demand deposits | $91,140 |
| Nontransaction accounts | $137,555 |
| Money market deposit accounts (MMDAs) | $39,715 |
| Other savings deposits (excluding MMDAs) | $9,829 |
| Total time deposits | $88,012 |
| Total time and savings deposits | $158,497 |
| Noninterest-bearing deposits | $91,140 |
| Interest-bearing deposits | $158,497 |
| Retail deposits | $217,822 |
| IRAs and Keogh plan accounts | $3,707 |
| Brokered deposits | $20,460 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $286,948 |
| Cash & Balances due from depository institutions | $55,441 |
| Interest-bearing balances | $19,427 |
| Total securities | $11,478 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $208,400 |
| Loan and leases loss allowance | $1,859 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,306 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $10,323 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $286,948 |
| Total Liabilities | $253,959 |
| Total deposits | $249,637 |
| Interest-bearing deposits | $158,497 |
| Deposits held in domestic offices | $249,637 |
| % insured (estimated) | $71 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $4,000 |
| Subordinated debt | $0 |
| All other liabilities | $322 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $208,400 |
| Loan and leases loss allowance | $1,859 |
| Total loans and leases (domestic) | $210,259 |
| All real estate loans | $207,239 |
| Real estate loans in domestic offices | $207,239 |
| Construction and development loans | $15,380 |
| Residential 1-4 family construction | $2,358 |
| Other construction, all land development and other land | $13,022 |
| Loans secured by nonfarm nonresidential properties | $64,395 |
| Nonfarm nonresidential secured by owner-occupied properties | $16,875 |
| Commercial real estate & other non-farm, non-residential | $47,520 |
| Multifamily residential real estate | $9,681 |
| 1-4 family residential loans | $114,864 |
| Farmland loans | $2,919 |
| Loans held in foreign offices | $0 |
| Farm loans | $70 |
| Commercial and industrial loans | $2,748 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $285 |
| Credit card loans | $0 |
| Related Plans | $1 |
| Consumer Auto Loans | $39 |
| Other loans to individuals | $245 |
| 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 $208,400,000 of loans outstanding in 2021. $207,239,000 of loans were in real estate loans. $15,380,000 of loans were in development loans. $9,681,000 of loans were in multifamily mortgage loans. $114,864,000 of loans were in 1-4 family mortgage loans. $70,000 of loans were in farm loans. $0 of loans were in credit card loans. $39,000 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 | 85 | $22,300 | $262,353 |
| Nonfarm, nonresidential loans - <$100k | 13 | $525 | $40,385 |
| Nonfarm, nonresidential loans - $100-250k | 26 | $2,728 | $104,923 |
| Nonfarm, nonresidential loans - $250k-1MM | 46 | $19,047 | $414,065 |
| Commercial & Industrial, US addressed loans - <$1MM | 50 | $1,687 | $33,740 |
| Commercial & Industrial, US addressed loans - <$100k | 43 | $967 | $22,488 |
| Commercial & Industrial, US addressed loans - $100-250k | 4 | $329 | $82,250 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 3 | $391 | $130,333 |
| Farmland loans - <$1MM | 6 | $917 | $152,833 |
| Farmland loans - <$100k | 1 | $68 | $68,000 |
| Farmland loans - $100-250k | 3 | $289 | $96,333 |
| Farmland loans - $250k-1MM | 2 | $560 | $280,000 |
| Agriculture operations loans - <$1MM | 2 | $70 | $35,000 |
| Agriculture operations loans - <$100k | 2 | $70 | $35,000 |