According to a recent news feature by the PR Newswire, NexBank Capital completed placing its senior uncensored notes in an oversubscribed private placement. The company made a total issuance of $155 million in the process. The notes are expected to mature by March 2026 and can be called as from March 2021. For the first five years, the notes will attract a fixed interest rate of 5.5 percent, which will later change to a floating rate as from 2022. The proceeds from this offering will be used to strengthen the firm’s balance sheet. Sandler O’Neill & Partners were the placement agents in this process.
Speaking after the placement, NexBank’s President described the development as a demonstration of investors’ confidence in the company. He further expressed the company’s gratitude, following their BBB rating from the prominent Kroll Bond Rating Agency. NexBank C.O.O, on the other hand, was delighted to announce that the firm had raised close to $200 million of debt in just 12 months.
Nexbank Reaps Big In 2016
Further revelations in the feature indicated that by the end of last year, NexBank Capital had total assets of $4.64 billion, which represented a 71 percent growth rate from 2015. Total deposits, on the other hand, increased by 72 percent from 2015, reaching close to $3.22 billion. Total loans in 2016 were $2.83 billion, increasing by 44 percent from 2015. NexBank made a net income in excess of $83 million in 2016.
NexBank SSB plays a key role in the growth of NexBank Capital Inc. The bank is well capitalized making it a leading bank in Dallas. As at 31st December last year, the bank total risk-based capital was at 13.14 percent.
About Nexbank Capital
NexBank Capital Inc. is a Dallas-based financial firm that specializes in corporate services, commercial banking, and mortgage banking. They offer their services to corporates, financial institutions, individuals, and institutional clients. The bank has a wealth of experience in the financial industry, having obtained their charter in 1922.
NexBank is headed by John Holt, the current president and M.D. Their COO is Matt Siekielski, and the CFO is Craig Korbuly. Other executive members include the General Counsel Mr. Dierk Hohman, the Chief Credit Officer Mr. Rhett Miller, and the Senior Managing Director Mr. Craig Campbell.