NexBank completed a deal with investors for their fixed-to-floating notes. These high net worth and institutional investors made the deal for the private placement of these notes for $54 million. The capital that was raised will be used by NexBank for different purposes around the company. In total, the company has managed to raise $283 million since 2016 in debt and equity. The notes are due to mature on September 20, 2027, with a guaranteed interest rate of 6.275% for the first 5 years of the deal.
NexBank features 3 core components of the business. These include mortgage banking, institutional services, and commercial banking. Their main client base consists of institutional clients, financial institutions, individuals, and corporations. They are committed to their clients and making sure that they are able to provide them good value in their business with the company. The solutions that NexBank provides to their clients are created by leaders in the industry with years of experience in their fields. They are a member of the FDIC and have a track record of success as a financial service company.
NexBank was founded in Texas in 2016 and has grown to be worth $8.1 billion in assets as of September 30, 2018. Along with being dedicated to the needs of their clients, they also play an important role in their community. NexBank strives to positively impact their community through a wide variety of services and programs. The changes that NexBank strives to make in their communities are all designed to be sustainable and to continue to positively impact their community for years to come. Their community focus is on Dallas and its surrounding counties overall.
One of the issues that Texans are facing is a low rate of home ownership and a high rate of homelessness. NexBank works with different organizations along with providing their services to borrowers with lower income. So far, they have been able to help around $900 million families achieve their dreams of owning a home. The loan programs that NexBank has created provide the capital as well as covering title and closing costs.