NexBank Capital, Inc is a successful financial services institution based in Dallas, Texas. The institution completed a private placement of its fixed-to-floating rate subordinated notes worth $54 million to high-value investors.
The notes come with a fixed interest rate for the first five years of 6.375% followed by a floating interest rate. The floating rate is determined by the spread above the then existing three-month London Interbank Offered Rate plus 458.5 basis points. The Institute purposes to use the earnings for the ordinary corporate causes.
The notes, which were placed by Sandler O’Neill & Partners, L.P. on behalf of NexBank Capital, Inc, were assigned a BBB grade rating by Kroll Bond Rating Agency under the applicable capital regulations. This rating qualified the offering as NexBank’s Tier 2 capital. This private offering closed on 19th September 2017.
About NexBank Capital, Inc.
This financial institute, established in 1934, holds the tenth place in Texas’s largest banks and is the 158th largest bank in the U.S. NexBank Capital core businesses include commercial and mortgage banking as well as Institutional Services. NetBank is ranked at the top of institutions which have grew to be most profitable organizations in the world within a very short time
NexBank Capital, Inc. primarily serves individuals, financial institutions, real estate investors, institutional clients, and corporations with customized financial and banking services. The institution has three divisions: NexBank Securities In, NexBank SSB, NexBank Title Inc., and NexWash LLC.
As of 30th September 2018, NexBank had $8.1billion in assets. The institute has a legal lending limit of $168 million, and its money market rates are five times the national average.
Their mission is to deliver unique value to each client and be a leader in the financial industry. They strive to offer sophisticated and personalized solutions provided through professional staff with a proven track record.
The Chairman, James Dondero, leads this financial giant. The experienced Directors are firmly committed to NexBank’s success.
NexBank Capital, Inc is socially responsible and aims at positively impacting the community in which it operates. The financial institution provides loan programs, economic development, financial education, and community services to not just the Dallas community, but the neighboring counties as well in the Dallas-Plano-Irving metropolitan division.
According to Banknews, the financial institution has provided affordable loans to more than 2,200 Texas Veterans and over 900 Texas’s families. It supports the GrowSouth Fund, The Real Estate Council Community Fund, and Impact Dallas Capital. NexBank Capital Inc is sponsoring eight public schools in financial literacy courses.