Legence Bank
- Company typePrivate
- Founded1906
- HeadquartersEldorado, United States
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What Legence Bank does
Legence Bank is a state-chartered, privately held community bank founded in 1906 and headquartered in Eldorado, Illinois. It is an FDIC-insured affiliate of bank holding company First Eldorado Bancshares and operates 12 physical branches plus ATM-only locations across Southern Illinois and the Evansville, Indiana market, serving retail consumers, small and medium-sized businesses, agricultural operations, and a specialized healthcare-professionals vertical. The bank's product set spans personal and business deposit accounts, consumer and commercial loans (including mortgages, HELOCs, auto, solar, CRE, SBA, and FSA-guaranteed loans), agricultural lending (operating lines, livestock, equipment, AgXpress, beginning-farmer, recreational land), equipment/municipal/agriculture leasing, and digital services such as online banking, mobile deposit, SPIN P2P payments, card controls, debit card alerts, Go!Focus budgeting, and mobile wallet integration. Partnerships with American Farm Mortgage, IntraFi, Deluxe, and AudioEye extend mortgage origination, deposit insurance, check ordering, and accessibility capabilities respectively.
Underlying technology is a standard digital banking stack with web and mobile channels, mobile check deposit, card management, and P2P payments; no proprietary AI, model, or data-asset components are disclosed. Legence Leasing extends the operating model into equipment, municipal, and agriculture lease finance alongside traditional lending.
The bank generates revenue primarily through net interest income on its diversified loan portfolio, supplemented by deposit account fees (overdraft, ATM, maintenance), service charges (merchant card services, business cash management, remote deposit), and leasing income. Pricing is not publicly disclosed beyond a published fee schedule; loan pricing is quote-based, while retail deposit products follow tiered monthly subscription-style account structures (Smart Checking, Star Checking, 50 First Select, Stellar Start). Go-to-market is direct-to-consumer through branch, digital, and eBranch contact-center channels, with SBA Preferred Lender status supporting business and agricultural origination.
Legence Bank firmographics
Firmographics- Name
- Legence Bank
- Legal name
- Legence Bank
- Website
- https://legencebank.com
- Company type
- Private
- Founded year
- 1906
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Ownership category
- akta.pro rank
Legence Bank industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (52211), Savings Institutions and Other Depository Credit Intermediation (522180)
- SIC
- State Commercial Banks (6022), Savings Institutions, Not Federally Chartered (6036)
- akta.pro primary industry
- Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)
- akta.pro secondary industries
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), SBA/Government-Backed & Development Finance Loans (FSAKAGAI)
Keywords
Where Legence Bank is headquartered
LocationHeadquarters
- HQ city
- Eldorado
- HQ country
- United States
- HQ region
- North America
Offices13 records
Markets served
Legence Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain, Others
Revenue model
- Interest Income: Primary revenue from interest earned on loan products including personal loans, mortgages, home equity, auto loans, business loans, commercial real estate, agricultural loans, and equipment leasing
- Deposit Account Fees: Fees from checking and savings accounts, including overdraft fees, ATM fees, and account maintenance charges
- Service Charges: Revenue from merchant card services, business cash management, remote deposit, and other banking services
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Smart Checking - Free, no-hassle checking account |
| Subscription | Monthly | Star Checking - Savings, rewards and convenience packaged into one account |
| Subscription | Monthly | 50 First Select Checking - Free account with rewards for life stage achievements |
| Subscription | Monthly | Stellar Start Teen Account - Checking account for teenagers |
| Other | Monthly | Passbook Savings, Young Saver Account, CDs, IRAs, Money Market Accounts |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels8 records
Legence Bank product offering
Product offeringCore offering
Legence Bank is a community bank that provides personal, business, and agricultural banking products and services across Southern Illinois and Evansville, Indiana through 12 physical branch locations and digital banking channels. The bank offers deposit accounts, consumer and commercial loans, agricultural lending, leasing, credit cards, cash management, merchant card services, and SBA/USDA-guaranteed loan programs.
Product overview
Legence Bank is a regional community bank providing a comprehensive suite of personal and business banking products through a unified platform. The bank offers personal checking accounts (Star Checking, Smart Checking, 50 First Select Checking, Stellar Start Teen Account), personal savings products (Passbook Savings, Young Saver Account, First Gold Money Market Account, Christmas Club Savings, CDs, IRAs), personal loans (including home mortgages, HELOCs, auto loans, and solar loans), and personal credit cards. For business customers, Legence Bank provides business checking, savings, money market accounts, CDs, commercial real estate loans, business term loans, lines of credit, SBA Guaranteed Loans, and commercial solar loans. The bank also offers specialized agriculture lending including real estate loans, AgXpress Loans, operating lines of credit, beginning farmer loans, livestock loans, equipment loans, FSA guaranteed loans, and recreational land loans. Digital banking services include online banking, mobile deposit, SPIN P2P payments, card controls, debit card alerts, Go!Focus budgeting tool, and mobile wallet integration. Legence Leasing provides equipment, municipal, and agriculture leasing services. The bank serves healthcare professionals through specialized banking solutions and operates branches across Southern Illinois and Evansville, Indiana.
Differentiator
Problem solved
Functional benefit
Products and services
- Star Checking A checking account offering savings, rewards, and convenience packaged into one account for personal banking customers.
- Smart Checking A free, no-hassle, convenient checking account focused on getting back to what matters for individual consumers.
- 50 First Select Checking A free checking account that rewards customers for their place in life, targeting specific life stage achievements.
- Stellar Start Teen Account A checking account designed for teenagers.
- Passbook Savings Traditional savings account with passbook documentation.
- Young Saver Account Savings account designed for young savers.
- First Gold Money Market Account Money market savings account with competitive rates.
- Christmas Club Savings Savings account for holiday expenses.
- Certificates of Deposit (CDs) Time deposits with fixed terms and guaranteed returns for personal banking customers.
- Individual Retirement Accounts (IRAs) Retirement savings accounts including Traditional and Roth IRA options.
- Personal Credit Cards Credit cards for personal banking customers.
- Personal Loans Installment loans for personal, family, or household purposes.
- Home Mortgage Loans Mortgages for purchasing or refinancing homes.
- Home Equity Lines of Credit (HELOC) Credit lines secured by home equity.
- Solar Loans Financing for residential solar energy systems.
- Auto Loans Financing for vehicle purchases.
- Business Checking Checking accounts for business customers.
- Business Savings Savings accounts for business customers.
- First Gold Business Money Market Account Business money market account with competitive rates.
- Business Certificates of Deposit (CDs) Business time deposits with fixed terms.
- Business Digital Banking Online and mobile banking platform for business customers.
- Cash Management Cash flow and liquidity management services for businesses.
- Remote Deposit Electronic check deposit service for businesses.
- Positive Pay Fraud prevention service for business checking accounts.
- Business Credit Cards Credit cards for business customers.
- Merchant Card Services Payment processing services for business merchants.
- Commercial Real Estate Loans Financing for commercial property purchases and developments.
- Business Term Loans Installment loans for business purposes.
- Business Lines of Credit Revolving credit lines for business needs.
- Commercial Solar Loans Financing for commercial solar energy systems.
- SBA Guaranteed Loans Small Business Administration backed loans with SBA Preferred Lender status.
- Agriculture Real Estate Loans Real estate financing for agricultural operations.
- AgXpress Loans Expedited agricultural lending products.
- Operating Lines of Credit Revolving credit for agricultural operating expenses.
- Beginning Farmer & Rancher Loans Specialized financing for new farmers and ranchers.
- Livestock Loans Financing for livestock purchases.
- Equipment Loans Financing for agricultural equipment.
- FSA Guaranteed Loan Farm Service Agency backed agricultural loans.
- Recreational Land Loans Financing for recreational land purchases.
- Legence Leasing Leasing services including equipment, municipal, and agriculture leasing.
- Healthcare Banking Specialized banking solutions tailored for healthcare professionals including doctors, nurses, and medical staff.
Companies that use Legence Bank
Customer profileNamed customers1 record
Segments4 records
Ideal customer profiles3 records
Legence Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Legence Bank partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- American Farm MortgagecoreLegence Bank partners with American Farm Mortgage, providing mortgage services and agricultural financing solutions for their customers. The partnership extends the bank's agricultural lending capabilities.
Scale indicators1 record
Recent moves6 records
Expansion highlights6 records
Legence Bank competitors and assessment
Company assessmentDirect peers
- Busey Bank: Illinois-headquartered community bank with personal, business, and ag lending across central and southern Illinois, overlapping directly with Legence's core operating geography.
- First Mid Bancshares: Illinois-based community bank holding company operating across central and southern Illinois with comparable personal, business, and agricultural lending products. Most direct geographic and product-line peer.
- First Financial Bancorp: Indiana-based community bank holding company with presence in Illinois border markets, offering commercial, agricultural, and consumer banking products similar to Legence's portfolio.
- First United Corporation: Community bank holding company with significant Southern Illinois/Indiana presence following its acquisition of Banterra Bank, competing directly in the same regional deposit and ag lending markets as Legence.
- InBankshares: Chicago-based community bank holding company serving markets in Illinois and Colorado with comparable community banking, small business lending, and digital banking services.
- German American Bancorp: Jasper, Indiana-based community bank with strong footprint in Southern Indiana and adjacent Illinois markets, offering similar deposit, lending, and ag-banking services to overlapping customer demographics.
Broad incumbents
- Woodforest National Bank: Large branch-heavy community bank with multi-state retail deposit and small business lending footprint, illustrating the kind of scaled, distribution-led model Legence operates but with significantly more branches.
- Old National Bancorp: Large regional bank headquartered in Evansville, IN that directly competes with Legence across the Evansville market and broader Southern Indiana/Illinois region, with overlapping commercial, ag, and retail banking products.
- Cadence Bank: Mid-sized super-community bank offering commercial, small business, and consumer banking products across multiple southern and midwestern states, representing the type of larger competitor Legence faces for SBA and commercial lending.
Emerging players
- Farm Credit Illinois: Farmer-owned agricultural lending cooperative serving Illinois, directly competing with Legence's ag loan portfolio in farmland, equipment, and operating credit across overlapping Southern Illinois counties.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
Legence Bank social profiles
Digital presenceLegence Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Legence Bank leadership team
Management profileNumber of profiles
Profiles1 record
Legence Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Legence Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Legence Bank
What does Legence Bank do?
Legence Bank is a community bank that provides personal, business, and agricultural banking products and services across Southern Illinois and Evansville, Indiana through 12 physical branch locations and digital banking channels. The bank offers deposit accounts, consumer and commercial loans, agricultural lending, leasing, credit cards, cash management, merchant card services, and SBA/USDA-guaranteed loan programs.
Is Legence Bank a public or private company?
Legence Bank is a private company. It is classified as corporate owned and is currently operating.
When was Legence Bank founded?
Legence Bank was founded in 1906. It employs 101 to 250 people.
Where is Legence Bank based?
Legence Bank is headquartered in Eldorado, United States, in the North America region.
How does Legence Bank make money?
Three revenue lines are on record. Interest Income is the primary driver. The others are deposit Account Fees and service Charges.
Who are Legence Bank's main competitors?
Direct peers on record are Busey Bank, First Mid Bancshares, First Financial Bancorp, First United Corporation, InBankshares and German American Bancorp. Broad incumbents are Woodforest National Bank, Old National Bancorp and Cadence Bank. Farm Credit Illinois is listed as an emerging player.
Does Legence Bank have an API?
No public API is recorded for Legence Bank.
What industry is Legence Bank in?
Legence Bank's product category is Community Banking. Its primary akta.pro industry code is FSABAAAE, Branch & In-Person Banking (Teller/ATM Networks), with a secondary code of FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings). Its NAICS code is 52211 and its SIC code is 6022.