It has recently been announced that Sandler O’Neill and Partners, L.P. served in the capacity of lone placement agent in a massive deal that was just completed by Dallas bank NexBank in regard to a $54 million private placement. This exciting new private placement is in regard to fixed to floating notes that are of a rate subordinated nature. These notes were available to clients such as those with a high net worth as well as NexBank’s extensive institutional client base. These proceeds will be added into a total pool of $283 million that NexBank has raised since the 2016 calendar year. These funds were raised in the area of equity and the area of debt. The plans for this funding is to put it toward important corporate purposes.
According to bizjournals.com, this massive deal from NexBank closed on the 19th of September in 2017 and the non-callable notes will reach their date of maturity on the 30th of September in 2027. The interest rate is set at 6.375 percent. This is for a term of five years. Registration or an exemption of an applicable nature will be required in order to sell or offer these notes.
This new offer that NexBank Capital released is just another example of the firm’s commitment to providing outstanding services to its extensive client base. The firm prides itself in its offering of institutional services as well as top-rate mortgage and commercial banking services. A dedication to its clients in all areas of its business has come to define NexBank over its long history that goes back to 1922.
NexBank has two full-service branches based out of the Dallas, Texas region. These are located at Mckinney Avenue and Luther Lane. Today, the company’s total assets ad up to over $8 billion. This figure was as of the 30th of September for 2018. The prestigious executive team at NexBank consists of CEO John Holt. He also serves in the role of President. Chief Operating Officer is Matt Siekielski and Stacy Hodges serves as the firm’s CFO and CRO. The team is rounded out by its Chief Credit Officer Rhett Miller.