Legacy Bank & Trust Offers Competitive 6-Month CD in MO, OK, and TX


Deal Summary: 6-month High Yield CD, 5.65% APY, $1k minimum opening deposit.

Availability: Missouri, Oklahoma, and Texas residents through online application.

About 18 months ago, Missouri-based Legacy Bank and Trust (Legacy B&T) had the highest 1-year CD APY offered by any U.S. bank. Since then, Legacy B&T CD product line has been unremarkable until now: the 6-month High Yield CD now offers a near rate-leading 5.65% APY. The minimum opening deposit is $1k, with no stated balance cap.

5.65%$1k-Legacy Bank and Trust6 Month High yield CD
Rates as of November 28, 2023.


Headquartered in Mountain Grove, Missouri, Legacy Bank and Trust has a brick-and-mortar presence in the Missouri counties of Christian, Greene, Henry, Texas, and Wright. Also, branches have recently been opened in Tulsa, Oklahoma and Fort Worth, Texas.

According to the Legacy B&T online application, residents of Missouri, Oklahoma, or Texas, who are at least 18 years old with a valid Social Security number, can open an account online.

In addition to opening a 6-month High Yield CD online, the High Yield CD can also be opened at any of six Missouri branches located in Clinton, Mountain Grove, Plato, Sparta, and Springfield (2), at the Tulsa, Oklahoma branch located in the Regal Plaza, or at the Forth Worth, Texas branch located on Tarrant Parkway.

Funding and Other Details

Legacy B&T’s website does not include a Truth-in-Savings disclosure, so the following information is from a conversation with CSR.

  • Funding – Online, ACH; in-branch ACH, wire transfer, check, or internal transfer.
  • Ownership – Individual, joint, or trust.
  • Early Withdrawal Penalty – 90 days interest on the amount being withdrawn, with partial withdrawals allowed.
  • Interest – Compounded daily/credited monthly, can be distributed monthly by check or transferred to a Legacy B&T savings or checking account.
  • Maturing Funds – Cashier’s check to the address on file or transferred to a Legacy B&T savings or checking account.
  • Beneficiaries – Unlimited, with equal shares, Social Security numbers are not required.
  • Grace Period –10 calendar days before automatic renewal.
  • Credit Check – ChexSystems.

Bank Overview

Legacy Bank and Trust has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 0.05% (excellent) based on March 31, 2021 data. In the past year, Legacy B&T has increased its total non-brokered deposits by $310.32 million, an excellent annual growth rate of 46.86%. Please refer to our financial overview of Legacy Bank and Trust (FDIC Certificate # 22319) for more details.

Legacy Bank and Trust is currently the 19th largest bank headquartered in Missouri, with assets in excess of $1.5 billion and more than 16,000 customer accounts. Legacy B&T became FDIC insured in 1976, almost seventy years after the bank’s predecessor opened its doors in Plato, Missouri. (The original four-ton safe is still on display in the current Plato branch location.) Legacy B&T was purchased in 2003 by Ozarks Heritage Financial Group, leading to the acquisitions of The Citizens Bank of Sparta (2005), First National Bank of Clinton (2018), and most recently Crain Mortgage Group, LLC.

According to a press release earlier this year,

Legacy Bank and Trust Co. and its holding company, OHFG, Inc. are excited to announce on January 1st they acquired Crain Mortgage Group, LLC, a Dallas based provider of secondary market FHA/HUD multifamily loans. Effective January 1st, Crain Mortgage Group, LLC will be rebranded to Legacy Capital. This purchase has allowed Legacy to continue to further its platform to provide long term affordable housing and market rate multifamily debt solutions. Legacy has established itself as an affordable housing bridge/construction lender in a multi-state region and seeks the ability to service the current customer base needs for long term fixed rates using government backed solutions. OHFG, Inc./Legacy is creating a one stop shop for affordable housing financing for clients through this acquisition.

How the 6-Month High Yield CD Compares

When compared to similar length-of-term CDs tracked by DepositAccounts.com that are available within the market area and have minimum deposit requirements of $10k or less, only one credit union has a higher rate than currently offered on the Legacy Bank and Trust 6-Month High Yield CD. The following table compares the High Yield CD to the two highest-rate CDs from other banks and the two highest-rate CDs from credit unions.

The above information and rates are accurate as of 9/11/2023.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Kansas City CD rates, Springfield CD rates, Tulsa CD rates, 1-year CD rates

Legacy Bank & Trust (MO) Has Rate-Leading 1-Year CD
Deal Summary: 12-month High Yield CD, 1.25% APY, $1k minimum deposit.

Availability: Missouri residents through online application.

Legacy Bank and Trust (Legacy B&T) is currently offering a 12-month High Yield CD earning an eye-catching 1.25% APY, which is currently the highest 1-year CD rate offered by any bank in the U.S. The minimum opening deposit is $1k, with no stated balance cap.

Legacy B&T’s website does not include a Truth-in-Savings disclosure, so the following information comes from a conversation with a very knowledgeable bank official.

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The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.