"Legacy sediment" just means man-caused deposition on top of the original floodplain. It is not limited to agricultural areas. There are many places in "Big Woods Country" where logging boom era dams have caused "legacy sediment" deposits on the floodplains.
I know a place in Clearfield County where a former dam caused deposition of 6 feet of sandy material on top of the original floodplain. The floodplain aggradation continues upstream for about 1 mile.
I don't know what caused the incised, high banks situation on that section of Clarks Creek. But IMHO that was man caused, not a normal geological situation. The banks there are about 5-6 feet high.
I found this article that describes Victoria Furnace, an old iron operation, and says it harnessed the water of Clarks Creek. Those old iron furnaces were water powered and always had dams.
Does anyone where the old dam was?
It's been awhile, but as I recall, Clarks Creek further upstream, near the Appalachian Trail crossing, does not have such high banks. The stream and floodplain looked more normal up there.