NexBank: Taking the Banking Sector to the Next Level

There are many players in the finance industry in the United States. In this article, we are going to explore the background and some recent developments at a Texas-based financial institution called NexBank Capital. It has three portfolios including commercial, mortgage, and institutional banking. Some recent statistics have placed the bank at the 10th position in Texas in terms of its size. It has been in operation since 1934 in various parts of the country.

In late 2018, the number of employees at the institution stood at 89. The increase has been in response to the increased demand for its services. One of the indicators that NexBank is a successful firm is its money market rates which are five times higher than some of the other banks. Its health is placed in category B. Its leadership has played a key role in its growth as it comprises of a team of experienced professionals. It’s headed by James Dondero as the chairman, reports

The businessman has served in many senior positions at different firms including Highland Capital Management. Good customer service is one of its core values. As a result, the customer base has been expanding over the years. It has been recognized for its innovativeness in developing various products. It has an online banking service that allows the clients to access their accounts at any time of the day. The system ensures the safety of the customers’ information and money.

NexBank offers a wide variety of products that are suited for the individual needs of customers. The banking experts at the institution analyze the clients’ financial position to develop personalized strategies to increase their wealth in the long run. The bank partners with different firms to provide warehouse lending services to enable the clients to grow their businesses. The experts at the company conduct market analysis regularly to come up with products suited for the prevailing economic conditions.

In late 2017, NexBank Capital finalized the placement of some of its notes to some clients who included institutions. The initiative was meant to acquire funds to finance its various corporate expenses. By 2016, about $283 million had been raised and included debt and equity. The issued notes were expected to mature in late 2027 and the investors would enjoy a fixed interest rate of 6.375% for five years. After that period, a floating rate would be applied. The issuance was in accordance with relevant regulations.

Bank Extension Projects.

NexBank is a company that majors in financial services. Their services include three main businesses; one Mortgage banking, Commercial banking, and Institutional Services. Nexbank makes sure they provide quality and customized services to institutional clients, financial institutions, corporations and also individuals. A few years ago, Nexbank created a partnership with Dallas neighborhood homes. Dallas homes is a not for profit mortgage organization that has been working hand in hand with Dallas Area Habitat. These two companies in collaboration with Nexbank announced that they are ready to offer an Affordable Housing Program aimed to target the families in the southern part of Dallas.

Nexbank is providing fifty million dollars as loans in order to support the expansion program. This amount is set to last five years. The target market for this project is low-income homebuyers with a limited access to mortgages. The package includes counseling to keep the individuals with an interest in home ownership in the know on what to expect. This package includes an additional two thousand dollars as title fees for all the completed closings per loan. This initiative by Nexbank is going to go a long way in increasing the number of homeowners since Northern Texas has a low ownership rate. The initiative will provide quality homes for a good number of people.

Apart from the Dallas project, Nexbank has also been involved in the acquisition of The College Savings Bank located in Princeton, New Jersey. The bank had specialized in over five hundred savings program. The terms of the acquisition entailed that the bank retains its name, brand, and operations but will be a branch of Nexbank. The Nexbank Chief Executive Officer John Holt termed the transaction as a win-win. This acquisition enables the banks to better serve the clients and easily deal with the broad range of needs.

The College Savings Bank has been in business since 1987 and has since then served as a right-hand partner for parents preparing to cover their children’s’ college future. The acquisition by Nexbank has placed them in a position to enlarge their platform and responsibly work on short and long-term goals.

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