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Legends Bank Review

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Legends Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Legends Bank was founded in 1913 with headquarters located in Linn, Missouri. Legends Bank owns assets of $350 million as well as deposits totaling $298 million, classifying it as a small bank. Legends Bank lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. At a SmartAsset rating of 4.2 out of 5 stars, Legends Bank should be solidly in contention for your choice of bank. Legends Bank has a diversity of 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 offers an option without a maintenance or monthly fee. Locating a bank with no-fee checking, in addition to a high savings APY is the best option for returning the most income on your deposits alongside 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 has a savings rate of 0.15%, which is poor compared to the national average. Legends Bank's one-year CD earns at a rate of 0.60% and the five-year CD has a rate of 1.86%, while its highest-yielding money market account has a rate of 0.25%. Given its poor savings rate, you should consider opting for higher earning savings accounts with other banks.

How Legends Bank's Savings Rates Compare

Legends Bank Savings 0.15 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Legends Bank has typically extremely low fees as compared against the national average. With no monthly fee, Legends Bank's checking account is ideal for people who want a hassle-free checking account. Legends Bank does not refund out-of-network ATM charges, meaning you'll be required to search for a Legends Bank ATM or pay the fee.

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. With mobile and web apps, Legends Bank makes account access convenient, even on the go. Legends Bank's online and mobile banking platforms get positive feedback from customers. The Legends Bank mobile app is rated at 4.7 out of 5 (with 53 ratings on iOS and Android) compared to the national average of 3.8. Legends Bank's mobile app allows you to control your funds by checking account balances, sending and receiving money and accessing support representatives. Legends Bank receives an exceptional consumer satisfaction rating due to relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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 is a small bank and owns $350 million in assets and deposits totaling $298 million. Legends Bank's Texas Ratio is 7.12%, suggesting that Legends Bank is in good financial shape and unlikely to fail. 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 0.15% APY $50
Checking Account 0.2% APY $2500
Certificates of Deposit
  • 12 Month: 0.60% APY
  • 24 Month: 0.75% APY
  • 36 Month: 1.21% APY
  • 48 Month: 1.31% APY
  • 60 Month: 1.86% APY
$1000 for all terms
Money Market Account 0.25% APY $10000

Legends Bank has several deposit products like savings accounts, checking accounts and CDs to give you many options to manage your money. Legends Bank does not have the best savings rate, which means you should think about looking elsewhere 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 compared to the national average.

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Find a Legends Bank Near Me

Legends Bank has 10 locations in the U.S.

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