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.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
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 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.
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.
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
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.Back to Overview
Compare Legends Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.25% APY||$50|
|Checking Account||0.2% APY||$2500|
|Certificates of Deposit|| ||$500 for all terms|
|Money Market Accounts||0.3% APY 0.3% APY||$10000 $15000|
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.Back to Overview
Find a Legends Bank Near Me
Legends Bank has 10 physical branches in the U.S.Back to Overview