NexBank Ranks Top 200 in the Country with Successful Raise of $283 Million of Debt and Equity in Just Two Years

Headquartered at Dallas, NexBank is the 10th largest bank in the Texas state. Additionally, it is among top 200 banks in the country. Founded in 1934, it has grown to have 89 employees at 3 locations by 2018. It puts its services into three categories including commercial banking, mortgage banking and institutional services.

In commercial banking segment, NexBank offers support to businesses as well as institutions with customized solutions and seamless delivery of services. Under institutional services, the banking company offers customized solutions to meet the varied needs of its clients. Ultimately, mortgage banking involves empowering clients to connect with broader possibilities leveraging on scale and expertise. It continues making huge deals including the completing of $54 million subordinated debt offering.

About a year ago, NexBank Capital Inc, announced the completion of a $54 million subordinated debt offering. It directed the proceeds from the offering to the general corporate purposes. This one of the major deals the financial service company has ever been involved in raising $283 million of debt as well as equity in total since 2016.

The notes are not callable for five years. The fixed interest rate assigned to the notes is 6.373% for five year. Beyond the five years, the notes bear interest at a floating rate depending on a spread above the then existing three-month LIBOR of 458.5 basis points. The notes have an investment grade rating or BBB. The recent offering of the notes involved Sandler O’Neil & Partners, L.P as the exclusive placement agent.

The financial services company’s corporate management team is made up of executive members with extensive experience and expertise. The banking company’s executive management team leverages industry expertise and a focus on serving their clients to offer unmatched financial services capabilities to institutional, corporate and individual customers. The company’s board of directors is led by James Dondero, the Co-Founder as well as President of Highland Capital Management, L.P. The company’s corporate leadership team has a strong commitment to the success of the company.

Apart from the business endeavors, NexBank Capital is a socially responsible corporation. It looks to make a positive impact on the community it operates in. The Dallas-based financial services company looks to make sustainable changes and promote Dallas community through financial education, loan programs, and economic development. It not only looks to promote the Dallas community, but also build a stronger community in other surrounding counties in the Dallas-Plano-irving metropolitan division.

https://banktracker.investigativereportingworkshop.org/banks/texas/dallas/nexbank-ssb/

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