Dallas-based financial services provider NexBank recently announced that it had successfully executed an oversubscribed private placement of its senior unsecured notes. Reopening the initial offer raked in an additional $80 million, taking the total issuance to $155 million.
The notes have an investment grade of BBB and a stable outlook. They bear interest for five years at a fixed rate of 5.50%. After that they pay a floating rate based on a spread above the three-month LIBOR of 435.5 basis points. “The additional funds will allow us to fortify the balance sheet with capital,” said NexBank President and Chief Executive John Holt, “which in turn will allow us to continue to grow and increase our earnings.”
According to Matt Siekielski, Executive Vice President and Chief Operating Officer, the move will provide vital support to NexBank’s core operations. “These funds will provide the capital necessary to continue organic growth in our core businesses and capitalize on strategic opportunities in the future.” Financially, the future of the company seems very strong, according to the most recent information. Click Here for more information.
NexBank’s total assets reached $4.64 billion, a 71% growth rate. Their total deposits exceeded $3.22 billion, a 72% rate of growth, and total loans reached $2.83 billion, a 44% growth rate. Net income exceeded $83 million. Return on average equity (ROAE) was 35.48% and return on average assets (ROAA) was 2.47%.
NexBank’s mission is to provide its clients with exceptional value at every opportunity. It provides customized financial services to financial institutions, corporations, and individuals nationwide. Nexbank offers 3 core services, commercial banking, mortgage banking and institutional services.
It offers solutions ranging from investor relations to personal banking. Nexbank has won recognition for its timely, reliable, and highly customized approach to financial services, a client-centered approach that has distinguished its brand for over 100 years.