Legacy Bank

What Legacy Bank does

Legacy Bank is a privately held, Oklahoma-chartered community bank headquartered in Oklahoma City and operating 11 branches across western and central Oklahoma. Founded in 1902 as Hinton State Bank and renamed Legacy Bank in 1993 to honor the Carmack family that has led the institution for three generations, the bank offers a full suite of retail and commercial banking products including personal checking (Win-Win Money Market, 50+ Interest Checking, Square One Banking, Simple Checking), savings accounts, CDs and Step-Up CDs, IRAs, personal and business VISA credit cards, and a comprehensive lending suite spanning automobile, installment, boat/RV/ATV, commercial real estate, agricultural, and unsecured debt consolidation loans. The bank is an affiliate of Midstate Bancorp, a bank holding company, and holds FDIC Member #4042 status as a federally insured, CRA-regulated Equal Housing Lender.

The technology stack combines proprietary front-ends with vendor infrastructure: a mobile banking app on iOS and Android, a Business eBanking platform with QuickBooks integration, ACH/wire origination, Positive Pay fraud detection, and check imaging, plus Legacy Trust Online for wealth management customers. Card processing is outsourced to Fiserv; merchant services are delivered as a full Clover POS ecosystem (Station, Flex, Go, Mini, Kiosk, FD150); and ATM access is delivered through the MoneyPass network (500+ fee-free ATMs). The bank's distribution blends 11 physical branches with self-serve digital account opening and a Refer-a-Friend acquisition channel.

Revenue is generated primarily through net interest margin on loans and deposits, with fee-based contribution from deposit account charges (overdrafts, monthly maintenance, ACH/wire per-item fees), merchant processing (Clover swipe rates as low as 2.6% + $0.15 per transaction and interchange-plus pricing), and managed services from Legacy Trust. Pricing is published across personal and commercial tiers; commercial checking operates on an analysis system with earnings credit allowance, while consumer products include promotional APYs (up to 7.00% on Win-Win Money Market with card-usage qualifiers) and a seven-day overdraft grace period with no NSF fees on the 50+ Interest Checking account. Customer mix spans retail consumers, small and medium businesses, agricultural operations (leveraging Ag-specific lending software for complex multi-enterprise analysis), commercial enterprises, and vertical-specific niches such as school employees (Bank to School) and corporate employers (Bank & Company).

Name

Legacy Bank

Legal name

Legacy Bank

Website

https://legacybank.com

Company type

Private

Founded year

1902

Operating status

Operating

Headcount range

51–100 employees

Short description

Legacy Bank is an Oklahoma community bank operating 11 branches across western and central Oklahoma, offering personal and business checking, savings, loans, merchant services, and trust products to consumers, SMBs, agricultural operators, and commercial clients.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

Keywords

• Community banking services
• Personal checking accounts
• Commercial lending products
• Merchant payment processing
• Agricultural loan services

Headquarters

HQ city

Oklahoma City

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Interest Income from Lending: Legacy Bank generates primary revenue through interest income on loans including automobile loans, installment loans, boat/RV/ATV loans, commercial loans, agricultural loans, and real estate lending. The bank offers competitive rates on various loan products with terms ranging from 36 to 72 months based on vehicle age.
2. Deposit Account Fees and Charges: Monthly maintenance fees, minimum balance requirements, overdraft fees, and various transaction-based charges across checking and savings accounts. Commercial checking operates on analysis system with per-item fees.
3. Merchant Services: Payment processing revenue through Clover POS systems and FD150 terminals. Fee structure includes monthly equipment fees ($5-$32.95) plus per-transaction fees starting at 2.6% + $0.15 for swipe transactions.
4. Deposit Interest Spreads: The bank pays interest on deposits (e.g., 0.02%-7.00% APY on Win-Win Money Market) and earns higher rates on loans, generating net interest margin spread.
5. Trust and Wealth Management Services: Legacy Trust Online services including Wealth Preservation Trust Act compliance, sweep accounts managed through Legacy Trust division, and IRA account management.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels5 records

Core offering

Legacy Bank is a community bank that provides personal and business banking products and services through 11 branches in western and central Oklahoma. Core offerings include personal checking and savings accounts, certificates of deposit, IRAs, lending products (auto, installment, boat/RV/ATV, commercial, agricultural), commercial checking with cash management, merchant services powered by Clover POS, Remote Deposit Capture, and Legacy Trust wealth management services.

Product overview

Legacy Bank is a community bank offering a comprehensive suite of banking products and services organized as a platform-plus-modules architecture. The core offerings include personal checking (Win/Win Money Market, Square One Banking, 50+ Interest Checking, Simple Checking) and savings accounts (Money Market Savings, Regular Savings, Bear Club Savings), alongside business banking through Commercial Checking, Business Interest Checking, and Simple Business Checking. The bank provides integrated services including Merchant Services powered by Clover POS systems, Business Ebanking with QuickBooks integration, Legacy Trust Online, Remote Deposit, and Cash Management Products. Additional offerings encompass Certificates of Deposit with Step-Up options, IRAs, VISA Credit Cards (personal and business), and various lending products including automobile, installment, boat/RV/ATV, commercial, and agriculture loans. The bank operates 11 branch locations throughout western and central Oklahoma with a mobile banking application available on iOS and Android platforms.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Accounts
• Personal Savings Accounts

Quantifiable outcome

• Customers saving up to $16,119.36 annually by switching to Clover merchant services
• +1 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• Clover (First Data/Clover Network Inc.)coreTechnology or IntegrationLegacy Bank resells Clover POS systems including Station Solo, Station Duo, Flex, Go, Mini, Kiosk, and FD150 terminals for merchant payment processing. Clover merchant services are provided by First Data Merchant Services LLC dba Clover Business Solutions. The bank provides hardware, software, installation, and ongoing support for business customers.
• MoneyPasscoreTechnology or IntegrationLegacy Bank customers have access to fee-free ATM withdrawals at MoneyPass ATMs nationwide through this network partnership. The bank references over 500 fee-free ATMs through this partnership.
• FiservcoreTechnology or IntegrationFiserv provides card processing services for Legacy Bank. The bank routes lost/stolen card reporting after hours to Fiserv for processing.

Scale indicators6 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• BancFirst Corporation: Largest Oklahoma-based state-chartered commercial bank with a similar community banking model across multiple Oklahoma cities; closest direct peer given matching charter, geography, and SMB focus.
• Intrust Bank: Kansas-based community bank with ag lending, treasury, and trust services comparable to Legacy's mix; useful comparable for community-bank economics and ag lending exposure.
• Stock Yards Bank & Trust: Mid-size community bank focused on commercial, wealth, and trust services; comparable business mix with emphasis on local relationship banking and trust fee income.
• S&T Bancorp: Pennsylvania-based community bank holding company with diversified commercial, consumer, and wealth services; comparable community-bank operating model and scale for benchmarking.
• Tompkins Financial: Community-focused bank holding company with similar personal, business, and wealth management mix; useful comparable for community-bank valuation and operating metrics.
• First National Bank of Oklahoma: Oklahoma-based community bank offering personal, business, and agricultural banking with similar rural/small-city footprint and relationship-banking model.

Broad incumbents

• Arvest Bank: Regional community-focused bank with significant Oklahoma presence, offering similar deposit, lending, and merchant services to retail and SMB customers across overlapping geographies.
• BOK Financial: Major Oklahoma-headquartered regional bank holding company with full commercial, wealth, and treasury services; broader incumbent competing with Legacy in the Oklahoma City and statewide markets.
• MidFirst Bank: Oklahoma-based large private bank (owned by Midland Financial) offering consumer, business, mortgage, and wealth services; larger incumbent with overlapping Oklahoma City footprint.

Regional players

• Citizens Bank of Edmond: Oklahoma City-metro community bank offering personal and business banking with strong local decision-making; direct local-market comparable in the Oklahoma City region.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/LegacyBankOK
• Instagraminstagram.com/legacybankok
• LinkedInlinkedin.com/company/legacy-bank-oklahoma
• Xx.com/LegacyBank

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Legacy Bank