Dallas Bank Moves From Strength To Strength

It’s a good time to be Nexbank, not to mention one of its clients. This ambitious and profitable Texas financial institution announced in an early September press release that it was increasing the monetary amount of senior unsecured notes in private placement from $50,000,000 to $75,000,000. The bank intends to use the proceeds from this offering to expand the bank’s growth, and for its general corporate needs. These notes have a stable rating, and indicates strong interest and confidence in the company from both investors and clients. Another indicator of the bank’s strong position is a recent upgrade in its bond rating from “BBB-” to “BBB” by Kroll Bond Rating Agency. These unsecured notes will mature in 2026. Interest will be at a 5.05% fixed rate through 2021, followed by a floating rate to be determined by market.

NexBank Increases Senior Unsecured Notes Offering to $75 Million

In addition to being a strong investment partner, NexBank also provides commercial and mortgage banking services, largely in the business sector. The company acquired a banking charter in 1922, and opened its first bank in 1934 in Terrell, Texas. Called the Terrell Federal Savings and Loan Association, the company offered primarily insured saving accounts to clients. It underwent several name changes over the decades, and finally relocated its offices from Terrell to Dallas in 2004, and officially changed its name to NexBank in 2005 to reflect its growth and changes.

While NexBank has always offered savings and checking accounts in addition to offering loans, this institution also now handles company mergers and acquisitions and treasury management, in addition to corporate banking. Businesses can also rely on NexBank for financial and advisory services and syndicated loan management. It also offers clients customized programs, investment banking opportunities, and land advisory oversight. While primarily in the Dallas area, NexBank recently expanded to the East Coast, with its purchase of College Savings Bank in Princeton, New Jersey.

Given this bank’s great rates, multiple investments opportunities, and safeguards to protect clients’ accounts, placing money with NexBank seems to be a wise decision, as it appears to be an institution with a strong enough foundation to support it and its clients for years to come.

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