Nexbank Completes A Fixed-To-Floating Rate Note Offering

Nexbank, a leading Dallas financial services banking firm made a statement that their offering of fixed-to-floating rate subordinated notes was now complete. This offering raised $54 million in debt and equity holdings that were fixed to the notes and issued to the firm’s high net worth investors. The notes are set to mature in 2027 and are graded with a BBB rating from the Kroll Bond Rating Agency, and they now mark $283 million in total equity raised by Nexbank since 2016.

Nexbank has a variety of commercial banking, mortgage banking and institutional investment services they offer and they’ve been in operation since 1922 in Dallas, TX. They specialize in making commercial loans to businesses of all sizes and also offer credit and treasury management services to attractive companies. They also help clients with mergers and acquisitions, starting public funds, making real estate investments and offering real estate advisory services, and also offers wholesale lending. Nexbank isn’t just a commercial and institutional banking firm, it also offers personal banking for all including online access to savings accounts, checking accounts, money market accounts and certificates of deposit savings. They’re also a certified equal housing lender and have been highly rated by clients.

Nexbank is an affiliate of NexPoint Advisors, a credit strategies management firm, and it’s also connected with Highland Capital, a Dallas private equity firm. James Dondero presides as Chairman over the Board of Directors, and John Holt currently serves as Nexbank’s CEO. Nexbank has supported many philanthropies across Dallas including the Dallas Women’s Foundation to which they matched a $100,000 donation to host a luncheon that focused on advancing programs for women’s economic well-being. They have also contributed to the ReserveAid Texas Foundation, a program that supports military members that are struggling financially and need a little more stability in employment.

Community Banking at its Best

NexBank Capital Incorporation is a Dallas-based financial institution which was chartered back in 1922. It delivers commercial banking, mortgage banking, and institutional services. It has employed approximately two hundred people who are committed to providing financial and banking services to customers nationwide. The bank has two branches in Dallas with its main office located at McKinney Avenue.

The bank exhibited a net income of $55.13 million by the end of March 2016. This shows how successful the bank is and its achievement of a very tangible equity. In August the same year, NexBank announced a $24 million capital raise which meant more opportunity for growth and development. The proceeds from this capital raise would serve this development purpose as well as other corporate purposes.

In the past year, a rating agency, Kroll Bond Rating, termed the institution as having strong capital levels, steady earnings, and a good liquidity profile. The bank, therefore, portrays stability in its outlook.

In 2015, the NexBank Incorporation acquired a bank in Princeton, New Jersey known as College Savings Bank. The Princeton Bank specializes majorly in college savings programs and it retained its operations, branding, and name under the new leadership. College Savings Bank was founded back in 1987.

NexBank, however, does not score very highly in terms of customer interactions. It seems to have failed in terms of timely response to complaints filed against the business. It scores a B- in BBB ratings.

NexBank is a part of the Texas Bankers Association. The bank has been phenomenal in responding towards crisis by giving donations alongside other banks in terms of crisis. This was shown during the July 2016 sniper attack that led to the shooting of several police officers. John Holt, the president of the Bank, donated funds to the families of the officers who had been killed and wounded.