Nexbank is one of the oldest banks in Texas that started its operations in 1934. It is known to be one of the most stable and growth-oriented banks in the state offering high quality and customized financial and banking services to its clientele, which consists of institutional clients, large-scale enterprises, and high net value individuals.
The bank recently announced that it has completed placing its stock of senior unsecured notes privately. The bank raised around $80 million in another round of fundraising through the reopening of its initial offering, which made the total issuance stand tall at $155 million. The President and CEO of Nexbank, John Holt, said that the oversubscription in placement reflects upon the trust the bank enjoys of its investors.
Nexbank has maintained a clean and growth oriented image for decades, which showcases the stability the bank has maintained even during the financially turbulent times. The bank has accumulated a bit of debt lately and aims to eliminate it through the fund raised by initial offering. Part of the fund raised would also go towards the growth and expansion of the bank to attract more client, reach out to more customers, make a hold in newer demography and enhance its turnover and revenue.
Nexbank is headquartered in Dallas and is known to be highly popular among the high net individuals and institutional clients because of the flexible approach of the bank and its range of customized services. Nexbank has a total sum of $4.6 Billion in assets under management, which is a sharp increase of 71 percent from the year 2015. It is a statistic that continues to grow at a tremendous speed. It is a capitalized bank and has received A health rating from BBB, which adds yet another feather to its cap.
In 2016‘s first quarter, the bank recorded the total deposits of $3.22 Billion, which showcased a rise of 72 percent from the previous year. The net income in 2016 stood tall at $83 million, which was 53 percent higher from the past year. These are the few factors that clearly signify the growth trend the bank has been witnessing and why it is one of the most trusted banks in the Texas region.