With a 110 plus year tradition of banking, Legence Bank comes as a way of financial solution for the mass community. A hardworking and focused banking strategy makes this financial institution best among others.
Their loyalty to their customer and flexibility for the product is the key to their success. Currently, they are increasing the range of their service. Behind their success, there is a long story and has some ethics.
Before you know the banking system and operations, you must know the history of this bank. Don’t worry, we are here to help you. We tried to deliver more information about this bank in this review. Check it out.
What Is The Legence Bank?
Legence Bank is that type of bank that is perfect for individuals, families, businesses, and communities. It’s established in 1905 and its headquarters are in Eldorado, Illinois. As a medium-sized bank, this one has assets totaling $446 million and deposits totaling $412 million.
It is committed to providing banking services with quality. They care about what you need and ensure a trusted banking experience. Customers say, this bank listened to them and worked hand-in-hand.
As a result, consumers feel not only comfortable with daily banking but also feel secure to manage their money with ease. They have branches in 14 different locations. So it is not that hard to reach them in person.
Assets and liability status can show what’s going on in a bank that’s also related to financial health. Check the chart below and get the overall financial status of this bank.
|Particulars||Q1 2021||Q1 2020|
|Assets||$626.8 MM||$494.7 MM|
|Loans||$351.4 MM||$320.7 MM|
|Deposits||$552.0 MM||$428.6 MM|
|Equity Capital||$66.5 MM||$57.1 MM|
|Loan Loss Allowance||$3.7 MM||$3.5 MM|
|Unbacked Noncurrent Loans||$3.5 MM||$905 K|
|Real Estate Owned||$15.00 K||$3.00 K|
What Are The Core Values of This Bank?
Every bank has separate and specific core values that help them to reach its goal. This bank also has some core values that are not only good for them but also good for their consumers.
- Integrity and Honesty
The management believes honesty and integrity is the key to earn consumers trust. They value what they do. They don’t even think to do anything wrong when no one is watching.
Everyone is a part of a team. To achieve the result and reach the goal, it’s not possible to work individually. So, they work as a team.
- Development and Growth
This team thinks together, not individually. The bank will succeed after the development of the team.
They believe they must get the highest result. It’s only possible through professionalism and hard work.
- Mutual Understanding
Without respecting each other’s uniqueness, it’s not possible to get the best result. So they appreciate others’ uniqueness.
- Community Oriented
Community is the key where the bank can get most of their success through their offered services. It’s important to support the local community with time and available resources.
They also focused on their family not only at home but also at work.
What Types of Service Do They Offer?
Consumers expect different types of financial products and services from this bank. As they required this bank comes with a variety of services and these are.
- Compare Our Accounts
- Kasasa Cash Checking
- Back 2 Basics Checking
- 50 First Select Checking
- Kasasa Saver
- Passbook Savings
- Super Star Savers Club
- First Gold Money Market Account
- Christmas Club Savings
- Certificates of Deposits (CDs)
- Individual Retirement Accounts (IRAs)
- Home Mortgage Loans
- Home Equity Lines of Credit
- Auto Loans
- Personal Loans
- Recreational Land Loans
Personal Credit Cards:
- Smart Business Checking
- Business Savings
- First gold Business Money Market Account
- Business Certificates of Deposit (CDs)
- Commercial Real Estate Loans
- Business Loans
- Business Lines of Credit
- SBA Guaranteed Loan
- USDA Guaranteed Loan
Business Credit Cards:
- Equipment Leasing
- Municipal Leasing
- Agriculture Leasing
- Smart Business Checking
- Smart Cash Management
- Smart Remote Deposits
- Merchant Card Service
- Agriculture Real Estate Loans
- AgXpress Loans
- Operating Lines of Credit
- Livestock Loans
- FSA Guaranteed Loan
What Are The Product Rates?
Increasing the range of services and products cannot draw the attention of people for daily banking. Banks must be flexible with their rate and charges. Let’s see what the rate is for a popular product of Legence Bank.
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.1% APY||$50|
|Certificates of Deposit||12 Month: 0.60% APY24 Month: 0.75% APY36 Month: 1.31% APY48 Month: 1.56% APY60 Month: 1.71% APY||$500 for all terms|
|Money Market Accounts||0.05% APY 0.1% APY||$10000 $15000|
Now it’s time to discuss the main point and that is the service quality of this bank. So, what we generally expect from this bank. A variety of financial products and services as well as lower fees.
This bank comes with a mobile application and web application including online banking to make your complex banking transactions simple. Every person of this bank cares for their client personally and gives the highest attention to detail.
They are not only loyal to their customers but also offer customized financial series. This is the key point where consumers feel the family atmosphere of this bank.
Undoubtedly, Legence Bank goes the extra mile to offer you an outstanding but best banking experience. It is a conventional and technological financial solution where we find everything we need. They are committed to value our needs.
We can easily connect with this bank and its services as well whenever we want. This bank is another name for flexibility. To make our money secure and get extra funds, Legence bank becomes an ultimate option for many people like us.