Nexbank Capital, Inc. is a financial company based in Dallas, Texas. Recently, the company was in the news due to a $54 million offering of subordinated debt that it recently completed. The notes were made as private offerings, with the firm of Sandler O’Neill and Partners, L.P. acting in the role of sole placement agent. The deal was made and announced on September 19.
The notes were offered as subordinated notes with a fixed-to-floating rate. This means that the notes will accrue interest at a set rate for five years. After that, the interest rate will be made based on the current 3-month LIBOR. All these notes of credit cannot be called in for five years, and are set to mature on September 19, 2017.
With the closing of this deal, Nexbank has raised $283 million in debt, loans, and equity since 2016. The loans are not covered under the Securities Act.
Nexbank Capital, Inc. provides its services mostly to corporations and financial institutions, but also to private real estate investors. Their charter was written in 1922. Their four main areas of business are mortgage banking, commercial banking, corporate advisory, and institutional services. They are registered with the FDIC and are routinely rated well. They are the 10th largest bank in Texas, and the 161st largest bank in the United States. Their money market rates are 3 times the national average. The company reports that it has about $7.6 billion in assets as of September 30, 2017.
Although they are a regional bank with only 4 physical locations, they do business all over the USA and elsewhere. Apart from this, they are active in sponsoring a number of community organizations. For example, the company recently announced that it would sponsor the 32nd annual luncheon of the Dallas Women’s Foundation. This is a group that works to secure a greater amount of female leadership, particularly in the financial sector. Nexbank gave them a generous $100,000 to support their goals. They also provide accomodative housing and consumer loans to over 2,200 Texas veterans.
For nearly a century now, they have been making great deals, and helping others to do the same. While the headline of this article may be debatable, it would nevertheless be hard to disprove.