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 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.

    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

    135

    Origination Dollar Volume (All Markets)

    $52,265,000

    Employee count

    43

    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) 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%
    Bank Of Lexington's top markets include Lexington, Richmond, North Port, Cincinnati, and Frankfort among others.

    Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Florida (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: 375
    Peoples Exchange Bank
    Similarity Rank: 432
    MORTGAGE SUPPLIERS, INC.
    Similarity Rank: 528
    The Monticello Banking Company
    Similarity Rank: 817
    Kentucky Bank
    Similarity Rank: 1067
    Traditional Bank, Inc.
    Similarity Rank: 1128
    The Citizens National Bank of Somerset
    Similarity Rank: 1274
    Central Bank
    Similarity Rank: 1368
    Western Ohio Mortgage Corporation
    Similarity Rank: 1400
    SOUTH CENTRAL BANK, INC.
    Similarity Rank: 1656

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 60 $8,700,000 $145,000 $0 0.00%
    $200k-400k 33 $9,025,000 $273,485 $0 0.00%
    $100,000 or less 16 $1,290,000 $80,625 $0 0.00%
    $600k-1MM 10 $8,010,000 $801,000 $0 0.00%
    $1MM+ 9 $21,735,000 $2,415,000 $0 0.00%
    $400k-600k 7 $3,505,000 $500,714 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 74 $32,500,000 $439,189 $0 0.00%
    White 54 $18,640,000 $345,185 $0 0.00%
    Not provided 3 $505,000 $168,333 $0 0.00%
    Black 3 $485,000 $161,667 $0 0.00%
    Other Asian 1 $135,000 $135,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.13%

    Bank Of Lexington has an average approval rate.

    Pick Rate

    Approvals leading to origination
    45.93%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    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