Legacy Bank of Florida

Headquarters

2300 Glades Road, Suite 120/140 West
Boca Raton, FL 33431
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 1.05% →
1-Year CD 0.80% 0.95% →
2-Year CD 0.95% 1.05% →
5-Year CD 0.95% 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Legacy Bank of Florida is an FDIC insured institution located in Boca Raton, FL. It was founded in 2006 and has approximately $0.46 billion in assets. Customers can open an account at one of its 5 branches.

FDIC Insured Yes
FDIC Certificate # 58247
Date Established 2006
Assets $ 463.05 million
Loans $ 423.23 million
Deposits $ 357.06 million
Capital $ 52.83 million
 

For a more detailed analysis of Legacy Bank of Florida's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - September 22, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Money Market
0.01% $1 $9,999 Learn More
Money Market
0.05% $10,000 $24,999 Learn More
Money Market
0.10% $25,000 $49,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.15% $1 - Learn More
6 Mo CD
0.20% $1 - Learn More
12 Mo CD
0.80% $1 - Learn More
Special: 13 Mo CD
1.00% $1 - Learn More
Special: 18 Mo CD
0.90% $1 - Learn More
18 Mo CD
0.90% $1 - Learn More
24 Mo CD
0.95% $1 - Learn More
30 Mo CD
0.95% $1 - Learn More
36 Mo CD
0.95% $1 - Learn More
48 Mo CD
0.95% $1 - Learn More
60 Mo CD
0.95% $1 - Learn More

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.80% $1 - Learn MoreShow Less
Special: 13 Mo FIRA
1.00% $1 - Learn MoreShow Less
Special: 18 Mo FIRA
0.90% $1 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.02% $1 $1,499 Learn MoreShow Less
Int Ckg
0.05% $1,500 $4,999 Learn MoreShow Less

Loan Rates - September 22, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Legacy Bank of Florida

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Connecticut 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
Rocket Mortgage
NMLS ID: 3030
4.114% 3.990% 1.00 $3,750 $1,193 Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
2.816% 2.750% 0.88 $2,132 $1,021 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
People's United Bank, N.A.
People's United Bank, N.A.
See Table
4.000 %
$0 Learn More
More Info
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.990 %
$0 Learn More
More Info

Note to Legacy Bank of Florida
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Legacy Bank of Florida branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Fairfield,Connecticut


Legacy Bank of Florida Locations


Financial Details

Legacy Bank of Florida Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Legacy Bank of Florida. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Legacy Bank of Florida U.S. Bank Average
3.16% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, Legacy Bank of Florida had $1,751,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $52,832,000 in equity and $2,638,000 in loans loss reserves. That gives it a Texas Ratio of 3.16%.

Return on Equity
Legacy Bank of Florida U.S. Bank Average
9.05% 7.80%

Legacy Bank of Florida has a Return on Equity of 9.05% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Legacy Bank of Florida U.S. Bank Average
11.41% 12.68%

Legacy Bank of Florida has a Capitalization of 11.41% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Legacy Bank of Florida Balance Sheet Analysis

As of March 31, 2020, Legacy Bank of Florida had assets of $463,047,000, loans of $423,225,000, and deposits of $357,061,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 6.20 million
Interest-bearing balances $ 3.58 million
Total securities $ 17.84 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 423.23 million
Loan loss allowance $ 2.64 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 13.70 million
     Total Assets $ 410.22 million
LIABILITIES
Total deposits $ 357.06 million
      Interest-bearing deposits $ 273.65 million
      Deposits held in domestic offices $ 357.06 million
      % insured (estimated) 79.50%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 52.00 million
Subordinated debt N.A.
All other liabilities $ 1.15 million
      Total Liabilities $ 410.22 million
      Shareholders’ Equity $ 52.83 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 5.24 million
Total Interest Expense $ 1.53 million
Net interest income $ 3.71 million
Provision for loan and lease losses $ 0.03 million
Total non interest income $ 0.24 million
Total non interest expense $ 2.50 million
Pre-tax Net Operating Income $ 1.42 million

Bank Loan Profile?

The top three loan types in Legacy Bank of Florida’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Commercial and Industrial Loans.

Compared to other banks in Florida, Legacy Bank of Florida has a significantly higher percent of Commercial Real Estate on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 16.47
Multifamily
Mortgages
1.98
Credit Card Loans 0.00
Consumer Auto Loans 0.01
Small Business Loans 0.00
Construction and Development Loans 6.19
Commercial Real Estate 59.48
Commercial and Industrial Loans 14.12
Farm Loans 0.00

Frequently Asked Questions About Legacy Bank Of Florida

Branches and Savings

Is Legacy Bank Of Florida FDIC insured?

Yes. It is covered under FDIC Certificate #58247.

Why does Legacy Bank Of Florida pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Legacy Bank Of Florida CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Legacy Bank Of Florida a commercial bank?

Yes

Where are Legacy Bank Of Florida locations?

See branch locations nearby.

Is Legacy Bank Of Florida open on Saturdays?

Is Legacy Bank Of Florida open on Sundays?

What time does Legacy Bank Of Florida open?

What time does Legacy Bank Of Florida close?

Are Legacy Bank Of Florida ATMs Open 24/7?

Do Legacy Bank Of Florida ATMs accept cash deposits?

Can Legacy Bank Of Florida customers use other ATMs?

Do Legacy Bank Of Florida branches have notaries?

Will Legacy Bank Of Florida notarize my document?

What address for Legacy Bank Of Florida should I put for incoming ACH transfers?

Will the Legacy Bank Of Florida branch print checks?

Do Legacy Bank Of Florida checks expire?

Does Legacy Bank Of Florida require US citizenship to open account?

Can Legacy Bank Of Florida close my account?

Does Legacy Bank Of Florida Report to credit bureaus?

Does Legacy Bank Of Florida Use Equifax?

What is Legacy Bank Of Florida's ACH Routing Number?

What is Legacy Bank Of Florida's SWIFT code?

Products

Does Legacy Bank Of Florida offer mortgages?

Compare mortgage rates here.

Does Legacy Bank Of Florida offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Legacy Bank Of Florida offer personal loans?

Compare personal loan rates here.

Does Legacy Bank Of Florida offer student loans?

Will Legacy Bank Of Florida cash a check?

Will Legacy Bank Of Florida redeem a savings bond?

Does Legacy Bank Of Florida cash savings bonds?

Will Legacy Bank Of Florida cash money orders?

Can Legacy Bank Of Florida issue a money order?

Does Legacy Bank Of Florida do currency exchange?

Background on The Bank

Who owns Legacy Bank Of Florida?

How long has Legacy Bank Of Florida been around?

Can Legacy Bank Of Florida transfer to other banks?

Does Legacy Bank Of Florida have quick pay?

Does Legacy Bank Of Florida accept rolled coins?

Will Legacy Bank Of Florida accept loose change?

Where is Legacy Bank Of Florida headquarters?

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