|By PR Newswire||
|August 26, 2014 04:05 PM EDT|
DALLAS, Aug. 26, 2014 /PRNewswire/ -- NexBank Capital, Inc., a fully-integrated financial services company, has announced the completion of the final tranche of a successful $40 million bank term loan from multiple lenders.
The loan closed fully subscribed with commitments received from a group of four leading banks from Texas and Oklahoma. The loan provides capital for NexBank SSB, NexBank Capital, Inc.'s primary operating subsidiary and a leading regional bank, to strengthen its balance sheet and to fund the continued expansion of its operations.
"This debt financing has allowed the bank to grow significantly over the past year," said John Holt, President and CEO of NexBank Capital, Inc. "We are pleased with the support from the participating financial institutions. The strong response demonstrates the confidence these banks have in the financial strength of NexBank and its long-term growth strategy."
Between the initiation and final closing of the loan, NexBank Capital, Inc. reported strong growth. From the second quarter of 2013, total assets increased 43% year-over-year to $1.48 billion. Its return on average equity increased to 16% and its net income levels were $8.41 million through the second quarter of 2014.
NexBank Capital, Inc. recently received senior long-term and short-term debt ratings of BBB- and K3, respectively, and NexBank SSB recently received a long-term rating of BBB and a short-term rating of K2 for its deposits by Kroll Bond Rating Agency. Both ratings have a stable outlook.
About NexBank Capital, Inc.
NexBank Capital, Inc. is a fully-integrated financial services organization that includes a commercial and investment bank. As a leading regional financial services provider, the group delivers commercial banking, mortgage banking, investment banking and corporate advisory services to large corporations, real estate investors, middle-market companies, small businesses and banks, as well as some of the largest institutional clients in the capital markets. (www.NexBank.com)