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Legends Bank Review

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Legends Bank Savings
0.25% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Legends Bank was founded in 1913 and its headquarters are located in Linn, Missouri. It handles $350 million in assets and deposits totaling $298 million, which makes it a small bank. Legends Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. On the whole, Legends Bank is a solid pick to be your bank, with a rating of 4.2 out of 5 stars from our team. Legends Bank offers numerous product offerings, including savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're looking for a checking account for everyday use, Legends Bank's standard checking account does not carry a monthly fee. Locating a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same institution is the best option for accruing the most income from your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more


SmartAsset Average: 3.5

Legends Bank features a savings rate of 0.25%, which is fair in comparison to the average U.S. bank. Legends Bank's one-year and five-year term lengths CDs earn at a rate of 1.00% and 2.78%, respectively, while its highest-yielding money market account earns at a rate of 0.30%. Given its poor savings rate, you should think about taking a look at other banks for savings accounts.

How Legends Bank's Savings Rates Compare

Legends Bank Savings 0.25 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Legends Bank has generally extremely low fees compared to the national average. With no monthly fee, Legends Bank's checking account is perfect for those who need an easy checking account. Legends Bank unfortunately doesn't refund out-of-network ATM charges, which means you will need to search for a Legends Bank ATM or pay the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Legends Bank is a brick-and-mortar bank, with 10 total bank locations in Missouri. It also offers access to mobile and web apps for straightforward access and banking on the go. Legends Bank's online and mobile banking services receive high praise from users. The Legends Bank mobile app scored a 4.7 out of 5 (with 53 reviews on Apple and Android) compared to the national average of 3.8. You can utilize Legends Bank's app to manage your accounts by monitoring current statements, transferring money as well as reaching support representatives. Legends Bank receives a superb consumer satisfaction score due to relatively few consumer complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Legends Bank ranks as a small bank with $350 million in assets and $298 million in deposits. Legends Bank has a strong Texas Ratio of 7.12%, denoting that Legends Bank is in good financial shape and far from failure. Additionally, Legends Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Legends Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.25% APY $50
Checking Account 0.2% APY $2500
Certificates of Deposit
  • 12 Month: 1.00% APY
  • 24 Month: 1.21% APY
  • 36 Month: 2.57% APY
  • 48 Month: 1.51% APY
  • 60 Month: 2.78% APY
$1000 for all terms
Money Market Account 0.3% APY $10000

Legends Bank has several deposit products like savings accounts, checking accounts and CDs that provide you with many options to manage your money. Legends Bank does not have the best savings rate, which means you should think about other options for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Legends Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a Legends Bank Near Me

Legends Bank has 10 physical branches in the U.S.

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