Chloe Elmquist

 

Legacy Bank & Trust appoints Jeff Stutes as Chief Credit Officer

Springfield, Missouri – November 14, 2023 – Legacy Bank & Trust is proud to announce that Jeff Stutes has been appointed as Chief Credit Officer. With many years of banking experience, Stutes brings a wealth of knowledge that will allow for the expansion of Legacy Bank & Trust’s credit department and further strengthen its position in the financial industry.

As Chief Credit Officer, Jeff Stutes will be responsible for credit risk approval and credit oversight for lending business units in all the Bank’s markets, ensuring sound, profitable, and growing credit related portfolios.

Jeff comes to Legacy with 38 years of experience in credit approval, credit underwriting, and loan policy development in various industries and loan types, making him an indispensable addition to the organization. Stutes has experience working in community, regional, and large financial institution credit risk management structures. He also has five years of regulatory experience with the Federal Deposit Insurance Corporation’s Division of Liquidation. With a varied background in the banking industry, Stutes contributes an in-depth perspective that will provide significant value as Legacy embraces the market and regulatory challenges and opportunities over the next decade and beyond.

“We are thrilled to have Jeff leading our efforts to improve our underwriting and credit decision-making, as well as helping us build our team in Dallas,” said Brett Magers, President of Legacy Bank and Trust.  “Legacy is honored to have a leader with the resume and abilities that Jeff possesses, in addition to his upstanding character. I’m confident that he will continue to lead our credit program with excellence while prioritizing the service to clients that makes Legacy a great bank to work with.”

“What an incredible opportunity to take on this role with a dynamic organization like Legacy Bank & Trust,” said Stutes. “We are very fortunate to have plenty of fertile ground to grow more effective in our lending initiatives, as well as a team dedicated to the service of those we have the privilege of doing business with. I look forward to continuing the work of building on the solid foundation and culture established by this organization over the course of its 116-year history. We will continue to sharpen our strategy and work around being forward-thinking and effective risk managers in an ever-changing industry, while keeping the commitment to continuously be excellent in our methods.”

With this strategic addition to its leadership across the lending department, Legacy Bank and Trust remains committed to its core values of customer satisfaction, innovation, and prudent financial practices. The appointment of Jeff Stutes into this role reflects the Bank’s dedication to excellence in customer service and lending initiatives, as well as the advancement of the mission to provide exceptional banking services to all its clients.

About Legacy Bank and Trust

Legacy is a $1.6 billion community bank founded in 1907 and acquired in 2003 by Ozarks Heritage Financial Group.  Legacy Bank and Trust currently operates branches in Missouri, Oklahoma, and Texas.

Since our first bank opened its doors, our vision has been to surpass standards in banking for our customers as well as local businesses, so they can help our communities thrive.  Legacy Bank and Trust exists to serve as the financial leader in economic and community development by providing financial products and services to underserved populations within our service areas.  As a Community Development Financial Institution, our mission is to provide economic opportunities to underserved communities.

Legacy Bank and Trust is a Missouri-based commercial bank that is led by its Chairman, Chris Harlin, and its CEO, John Everett and President, Brett Magers.

To learn more about Legacy Bank and Trust, visit www.legacybankandtrust.com

For more information regarding this press release please contact:

Brett Magers, President of Legacy Bank and Trust, at bmagers@legacybankandtrust.com or Katrina Sweaney, SVP, Director of Human Resources at ksweaney@legacybankandtrust.com

Springfield, Missouri – September 28, 2023 – Legacy Economic Growth Fund is an affiliate of Legacy Bank & Trust and is a certified Community Development Entity (CDE) with a multi-state service area focus on serving the needs of low-income communities, particularly those in Missouri, Kansas, Illinois, Arkansas, Nebraska, Oklahoma, and Tennessee. Legacy Bank & Trust is a certified Community Development Finance Institution (CDFI) and, through its CDFI activities, has provided over $1.1BB to over 2,700 businesses over the last five years, with 84% of that funding focused specifically on disadvantaged businesses and communities. With this allocation award, Legacy Economic Growth Fund will provide small business loan products and larger equity equivalent loans to facilitate community development in highly disadvantaged neighborhoods, primarily in minor-urban and rural areas within the targeted service area.

The New Markets Tax Credits (NMTC) Program is a powerful federal economic development tool designed to promote development into America’s underserved and distressed communities. NMTCs generate private equity when leveraged with other sources of capital to create flexible financing structures for projects in these areas. Federal data show that for every dollar of allocation provided under the NMTC program, an additional $8 of private investment is leveraged for the economic development of these communities.

“Legacy Economic Growth Fund is honored by the CDFI Fund’s award” said John Everett, Chief Executive Officer of Legacy Bank & Trust. “NMTCs are a crucially important resource, supporting our investments in projects that generate quality, accessible jobs paying living wages, small businesses supporting job creation, commercial office/incubators that stimulate small business development, community health centers and rural health clinics in medically underserved areas that target low-income and uninsured patients in underserved communities in MO, KS, IL, AR, NE, OK and TN.”

In addition, the strategy includes funding a small business loan fund with capital in ranges of $600,000 – $4 million. “This allocation award provides Legacy Economic Growth Fund with significant resources to aid small businesses, particularly those requiring smaller investments, under $4 million that are the backbone of economic growth in our communities as they strive to stabilize and grow,” noted Brandon Taylor, Manager of Legacy Economic Growth Fund.”

 

About Legacy Bank and Trust

Legacy is a $1.6 billion community bank founded in 1907 and acquired in 2003 by Ozarks Heritage Financial Group.  Legacy Bank and Trust currently operates branches in Missouri and Oklahoma.

Since our first bank opened its doors, our vision has been to surpass standards in banking for our customers as well as local businesses, so they can help our communities thrive.  Legacy Bank and Trust exists to serve as the financial leader in economic and community development by providing financial products and services to underserved populations within our service areas.  As a Community Development Financial Institution, our mission is to provide economic opportunities to underserved communities.

Legacy Bank and Trust is a Missouri-based commercial bank that is led by its Chairman, Chris Harlin, and its CEO, John Everett and President, Brett Magers.

To learn more about Legacy Bank and Trust, visit www.legacybankandtrust.com

For more information regarding this press release please contact:

Brett Magers, President of Legacy Bank and Trust, at bmagers@legacybankandtrust.com or Katrina Sweaney, SVP, Director of Human Resources at ksweaney@legacybankandtrust.com

 

 

Legacy Bank and Trust appoints Dustin Royster as Springfield Market President

Springfield, Missouri – August 30, 2023 – Legacy Bank and Trust is proud to announce that Dustin Royster has been appointed as Springfield Market President. Royster brings a robust knowledge of the industry and a strong relational presence to the role reflected in his service to clients across all fronts, whether that be with small business owners, realtors or developers.

As Springfield Market President, Royster will contribute to the advancement of Legacy’s overall mission and vision as he leads all lending activities and deposit production for the Springfield market. Royster’s holistic understanding of the local market dynamics and its potential will bolster Legacy’s efforts to provide our clients with exceptional service in this area.

Prior to beginning his time at Legacy, Royster acquired over 16 years in banking holding various positions across the company. In March of 2018, he accepted the position of Senior Vice President, Senior Lending Officer for commercial lending at Legacy Bank in Springfield. Royster’s contributions include a plethora of knowledge in the sectors of traditional commercial and SBA lending, which has heavily contributed to the building of Legacy’s commercial lending platform in Springfield from its initial efforts post-merger.

“We are excited to have Dustin Royster step into this prominent role to lead our team,” quotes President of Legacy Bank and Trust, Brett Magers. “Dustin has worn many hats throughout our organization and has remained a consistent team player. He has cultivated fantastic relationships with our clients, in our community, and with our staff. He is an excellent lender with a loyal following of major customers, and we’re proud to have him represent us in this new role. We anticipate Dustin leading the Springfield lending department with great success.”

“I am looking forward to continuing to serve our clients here at Legacy in this new role, while getting the opportunity to lead a fantastic team,” said Royster. “We’re headed in an outstanding direction as an organization and to be a part of the growth trajectory in this capacity is a privilege. We plan to expand on our previous success as we grow an ongoing exceptional lending presence here in Springfield and maintain a commitment to prioritize those we do business with at Legacy.”

With this strategic addition to its leadership across the lending department, Legacy Bank and Trust remains committed to its core values of customer satisfaction, innovation, and prudent financial practices. The appointment of Dustin Royster into this role reflects the Bank’s dedication to excellence in customer service and lending initiatives, as well as the advancement of the mission to provide exceptional banking services to all its clients.

About Legacy Bank and Trust

Legacy is a $1.6 billion community bank founded in 1907 and acquired in 2003 by Ozarks Heritage Financial Group.  Legacy Bank and Trust currently operates branches in Missouri and Oklahoma.

Since our first bank opened its doors, our vision has been to surpass standards in banking for our customers as well as local businesses, so they can help our communities thrive.  Legacy Bank and Trust exists to serve as the financial leader in economic and community development by providing financial products and services to underserved populations within our service areas.  As a Community Development Financial Institution, our mission is to provide economic opportunities to underserved communities.

Legacy Bank and Trust is a Missouri-based commercial bank that is led by its Chairman, Chris Harlin, and its CEO, John Everett and President, Brett Magers.

To learn more about Legacy Bank and Trust, visit www.legacybankandtrust.com

For more information regarding this press release please contact:

Brett Magers, President of Legacy Bank and Trust, at bmagers@legacybankandtrust.com or Katrina Sweaney, SVP, Director of Human Resources at ksweaney@legacybankandtrust.com

Springfield, Missouri – June 9, 2022 – Legacy Bank and Trust announced today that its holding company, Ozarks Heritage Financial Group completed a $99 million dollar investment from the US Treasury Department. The Treasury’s investment, made under the Emergency Capital Investment Program (ECIP), is in the form of non-cumulative Senior Perpetual Preferred Stock.

ECIP enables the Treasury to make direct investments in bank and holding companies that are designated as a Community Development Financial Institution (CDFI). Ozarks Heritage Financial Group, Inc. and its   subsidiary, Legacy Bank and Trust have both been designated as certified Community Development Financial Institutions since 2016.  “This injection of capital in Legacy Bank and Trust will enable us to continue to expand our mission of community development and, more specifically, a focus on increasing the availability of affordable housing as well as the creation and retention of living wage jobs across the Midwest,” said Brett Magers, President of Legacy Bank and Trust.

“We are excited to have been approved by the Treasury as a recipient of an ECIP investment. It clearly demonstrates their confidence in our organization and support for our future vision,” said John Everett, Chief Executive Officer of Legacy Bank and Trust. Legacy Bank and Trust, through its CDFI activities, has provided over $307MM to 1,166 businesses over the last five years, with 86% of that funding focused specifically on disadvantaged businesses and communities.

ECIP provides long-term, low-cost equity that is specifically targeted to support low-and-middle income communities. “The addition of $99 million in capital more than doubles our current capital levels and will allow us to expand our services across a wider path of underserved areas that are currently difficult for us to reach due to capital restraints,” noted Brandon Taylor, Chief Financial Officer of Legacy Bank and Trust.

For additional information on the US Treasury’s ECIP investment please visit https://home.treasury.gov/policy-issues/coronavirus/assistance-for-small-businesses/emergency-capital investment-program

About Legacy Bank and Trust:

Since our first bank opened its doors, our vision has been to surpass standards in banking for ourcustomers as well as local businesses so they have the ability to help our communities thrive. Through a dedication to innovation, local growth, and building strong relationships with people like you, we hope to make every customer one for life. Legacy Bank and Trust exists to serve as the financial leader in economic and community development by providing financial products and services to underserved populations within our service area.

More information can be found at: www.legacybankandtrust.com

FOR IMMEDIATE RELEASE CONTACT:
Katrina Sweaney
(417) 823-9600
ksweaney@legacybankandtrust.com

Legacy Bank and Trust adds three key employees to its new Tulsa location

Springfield, MO – March 2022

Nick Wofford, the Market President for Legacy Bank and Trust in Tulsa, is pleased to announce the addition of Eric Gentry, Lindsey Peterson, and Melanie Lawson to the new, fast-growing, banking operation in Tulsa, OK. Eric Gentry and Lindsey Peterson, who will both represent the bank as Senior Vice Presidents of Commercial Lending, have spent their entire commercial banking careers in the Tulsa area. They are very well respected in the community and by their peers. Melanie Lawson, who will represent the bank as a commercial loan assistant, is a seasoned banker and brings a wealth of knowledge, foundation, and dedication to our team. Melanie has worked with the overall team for many years and is instrumental in many aspects to the success of the Tulsa Market Team. All three additions convey a strong, team-first, way of thinking and fit great with our culture, core values, and future success as we continue to expand our footprint in Tulsa.

Eric Gentry, Senior Vice President, has been in banking for over 22 years and worked as a commercial lender in the Tulsa area for the past 17 years. “Eric brings a tremendous amount of diverse lending experience to Legacy Bank and Trust and is a proven community banker that truly cares about the success and outcomes for his customers. I have worked side by side with Eric and saw firsthand that his charismatic skillset is special, and I am extremely excited to have him join our team.”, said Nick Wofford, Tulsa Market President. Eric is a graduate of the University of Central Oklahoma with a degree in Finance. Gentry is active with his local church and various non-profit organizations in the Tulsa Metro area. Gentry added, “I am very excited with this new opportunity to share Legacy Bank’s array of unique products with all my existing relationships and the Tulsa Market.”

Lindsey Peterson, Senior Vice President, joined Legacy Bank and Trust as a commercial lender with over 18 years of banking experience. Nick Wofford added, “I’ve had the pleasure of working with Lindsey for almost a decade and she is one of the best lenders and bankers that I’ve encountered. She brings a plethora of commercial credit experience to our team with strong relationships in the local medical and real estate industries. She is a team-first community banker and I look forward to building Legacy’s presence in the Tulsa market with her”. Lindsey graduated from Oklahoma State University with a degree in Finance. She is involved with the Tulsa Area United Way and the Broken Arrow Chamber of Commerce. Peterson added, “Given the historical success of Legacy Bank in community development and the many lending tools available, I couldn’t wait to provide these opportunities to my Tulsa network. Our team is very versatile, and we are eager to help you achieve your financial goals.”

Melanie Lawson recently joined Legacy as a Commercial Loan Assistant. “Melanie is fantastic at delivering the best customer service while facilitating loan requests and working with both our customers and lenders to ensure that our closings happen in an efficient and timely manner. We all have had the pleasure of working with Melanie for many years and I am grateful that we have the opportunity to continue to do so”, added Nick Wofford.

Legacy Bank and Trust opened its Tulsa office in early February of 2022 at 8211 S. Regal Place, Suite 106. Legacy is currently in the process of selecting a site for the construction of a new permanent facility set to open in the near future.

About Legacy Bank & Trust:

Since our first bank opened its doors, our vision has been to surpass standards in banking for our customers as well as local businesses, so they have the ability to help our communities thrive. Legacy Bank and Trust exists to serve as the financial leader in economic and community development by providing financial products and services to underserved populations within our service areas. As a Community Development Financial Institution, our mission is to provide economic opportunities to underserved communities. Legacy is a $800 million community bank with five locations in southwest Missouri, and now one in Tulsa, OK. It is a commercial bank that focuses on small business, agricultural and affordable housing lending.

Legacy has been recognized by S&P Global Market Intelligence as one of the Top 100 Community Banks in the country in 2018, 2019 and 2020. The ranking is based on six metrics that factor profitability, capital, growth and asset quality. In 2020, Legacy Bank and Trust was ranked #9 out of nearly 4,300 banks in the nation with assets below $3 billion.

Legacy recently announced it holding company (Ozarks Heritage Financial Group, Inc., OHFG, Inc.) was approved for $81.7 million in capital from the Treasury Department through the Emergency Capital Investment Program (ECIP) to increase lending to small businesses, and low- and moderate-income consumers in underserved urban and rural communities. ECIP enables Treasury to make direct investments in bank and holding companies that are designated as a Community Development Financial Institution (CDFI). Ozarks Heritage Financial Group, Inc. and its subsidiary, Legacy Bank & Trust have both designated as certified Community Development Finance Institutions since 2016. Legacy Economic Growth Fund (LEGF) is a Community Development Entity that is also a subsidiary of OHFG, Inc. LEGF recently received an $60 million allocation of New Market Tax Credits.

Legacy Bank & Trust Honored Amongst Top 100 U.S. Community Banks

Legacy Bank and Trust was ranked 16^th in the nation by S&P Global Market Intelligence’s ranking of the top 100 U.S. community banks with assets less than $3 billion for 2018; an honor that positions Legacy within the top 1% of Community Banks in the country.

Legacy was the highest-rated bank on the list headquartered in Missouri and the only bank chartered in Southwest Missouri to be honored. There are 4,619 banks and thrifts eligible for the ranking. The rankings were comprised from a multitude of factors including return on equity, net interest margin, loan growth, and asset quality factors.

“We are proud to be recognized. Management steadily built a strong foundation and dynamic culture through our entire organization that has led to a healthy bank focused on our communities, customers, and employees.”, said John Everett, President, and CEO.

The complete list of the top 100 banks can be found at: https://www.spglobal.com/marketintelligence/en/news-insights/trending/5zt6a8x6w9-uBR3RAAq5xg2

About Legacy Bank and Trust: Legacy Bank and Trust was originally founded in 1907 and is chartered in Rogersville, MO. Legacy employs 75 associates across its seven locations. As of the end of 2018, Legacy had total assets of $252 million. Legacy Bank and Trust is certified by the U.S. Treasury as a Community Financial Development Institution (CDFI).

Press Release

Brent Brown Joins Legacy Bank and Trust Board of DirectorsRogersville, MO – January 16, 2019 – Legacy Bank and Trust is pleased to announce the addition of Brent Brown, CEO of Entrust Property Solutions, to its Board of Directors.

“We are honored and excited to have someone with Brent’s experience, expertise and deep ties to the Springfield community join the Legacy team. Brent’s track record of scaling and managing multiple businesses will make him a real asset as Legacy continues to grow in the region,” said John Everett, President, and CEO of Legacy Bank and Trust.

A Springfield native, Brent graduated from Kickapoo High School in 1991 and earned a BS degree in Mass Communications from Kansas State University in 1995. His family was a pillar of the retail grocery business in the Springfield area for over 40 years and owned and operated both the Smitty’s Supermarket and Summer Fresh Supermarket chains. As President and CEO of Summer Fresh Supermarkets, Brent and his team grew the company to 12 stores and employed 400 people in Kansas and Missouri, with headquarters in Springfield, MO. Upon selling the business in 2012, Brent continued to grow his real estate portfolio through the acquisition and construction of office buildings, retail centers, warehouse/industrial, and multifamily properties in his home state of Missouri along with Arkansas, Florida, and, most recently, Montana. In addition to the development business, he started Entrust Property Solutions, a property management company and boutique real estate brokerage, in 2016. Brent provides leadership both in the industry and in the community as he currently serves on the Springfield Apartment Housing Association board and has participated in Leadership Springfield.

“I am excited to be part of the dynamic and community-oriented team at Legacy Bank &Trust. I’ve had a fantastic experience with Legacy as a customer and investor, and I look forward to participating in the continued growth of the Bank through my service on the Board of Directors,” said Brent Brown.

With the addition of Brown, Legacy’s board of directors consists of 11 members, including; Chris Harlin, Chairman; John Everett, President, and CEO; Brandon Taylor; EVP, CFO/COO; Brett Magers, EVP, CLO, Aaron Buerge, EVP; John Harlin, Pat Funk, Norman Hannaford, Wesley Shrode, and Tom Underwood.

About Legacy Bank and Trust
Legacy Bank and Trust, a community-minded bank with roots dating back to 1907 and was certified by the US Treasury Department as a Community Development Financial Institution (CDFI) in 2016. To learn more about Legacy Bank and Trust, visit www.legacybankandtrust.com. For more information regarding this press release contact: John Everett, President, and CEO, at jeverett@legacybankandtrust.com.

Press Release

Legacy Bank and Trust Announces Merger with First National Bank

Legacy Bank and Trust, a community-minded bank with root dating back to 1907, completed the merger in February of 2018.

Legacy Bank and Trust Company announced Friday that it has completed its merger with First National Bank of Clinton as of February 16, 2018.

“Our associates have worked especially hard over the past twelve months in creating new products and services that will not only benefit our existing customers but also our new customers from First National Bank,” said John Everett, President and CEO of Legacy Bank and Trust.

Legacy Bank and Trust has been in business since 1907 and now has locations in Springfield, Rogersville, Clinton, Sparta, Mountain Grove and Plato. The bank’s assets exceed $230 million and it employs approximately 70 people across the Ozarks.

In completing the merger, both banks look forward to continuing to serve their customers as one entity with a dedication to community-minded banking.

About Legacy Bank and Trust

Legacy Bank and Trust was founded in 1907 and acquired in 2003 by Ozarks Heritage Financial Group. Legacy Bank and Trust is a Rogersville, Missouri-based commercial bank that is led by its Chairman, Chris Harlin, and its CEO and President, John Everett.

About First National Bank of Clinton

Chartered in 1945 by local citizens and businessmen and acquired by the Buerge Family in 1970, First National Bank of Clinton is a Clinton, Mo.-based commercial bank. With two branch locations in Clinton and one branch location in Springfield, the bank has held the tradition of offering premier services to its customers and communities as the only independently owned and managed bank in Clinton.

For more information about Legacy Bank and Trust’s merger with First National Bank, please contact John Everett at jeverett@legacybankandtrust.com. To learn more about Legacy Bank and Trust, visit www.legacybankandtrust.com.

To all our customers and friends,

We are excited to announce that First National Bank recently joined forces with Legacy Bank and Trust to provide an even better banking experience for you. On February 20, 2018, our combined banks began operating as one under the name of Legacy Bank and Trust, with experienced, local ownership and management as well as roots dating back to 1907.

What does this mean to you? Our name may have changed, but rest assured, the things most important to you have not. We are still your hometown community bank with local management, built on the foundation of local decision-making. You still have access to the same convenient Clinton and Springfield locations with the friendly faces you are accustomed to seeing. Additionally, you now have access to even more locations in Rogersville, Sparta, Mountain Grove, and Plato, Missouri—all to serve you.

Together, we now offer a variety of enhanced services and products, including a new lineup of checking accounts and specialized lending products to help you reach your goals. In fact, Legacy Bank and Trust is one of only three banks in the state of Missouri designated as a Community Development Financial Institution (CDFI) by the US Treasury Department. Being a CDFI Bank distinguishes Legacy Bank and Trust as a mission-driven organization that exists to serve as a financial leader in economic and community development in our local communities.

We are grateful for your business and want to be a big part of your financial future. You will be receiving customized communication from us in the coming months on how this transition will impact you and your account(s). Meanwhile, if you have any questions about this news and what it will mean for you, please contact us at any time. Our phone numbers and email addresses are listed below.

Yours truly,

John Everett
President / CEO of Legacy Bank and Trust
(417) 753-4343
jeverett@legacybankandtrust.com

Aaron Buerge
President / CEO of First National Bank
(417) 823-9600
aaron@myfnbonline.com