Nexbank Capital is a Dallas based financial services company that deals with commercial banking, institutional services and mortgage banking. The company caters for its clients by providing them with customized banking and financial services.
The company announced that it managed to raise $20 million in the common equity capital raise that ended on 30th June, 2017. Money received from this capital raising effort will go to corporate purposes. As a result of this closing, NexBank has generated more than $220 million of equity and debt since 2016. In a statement, John Holt, President and Chief Executive Officer of NexBank, said that the support that they received from the shareholders provides a validation of the company’s business plan and a formidable financial position. He also added that the capital will allow NexBank to stimulate growth in an effort to enhance its performance.
In the half-year financial results of 2017, NexBank Capital, Inc is reported to enjoy a net income of $46 million. The return on average assets and the return on average equity were 1.7% and 31% respectively, year-to-date for 2017. At the core of company is the NexBank SSB, a top regional bank that has played a significant role in the growth of the company. In June 30, 2017, the Bank’s tier 1 leverage ratio and the risk-related capital ratio was estimated to be 8.2% and 13.23% respectively.
In 2015, NexBank announced its acquisition of the College Savings Bank of Princeton, which has specialized in 529 college-saving program. Announcing this acquisition, John Holt stated that their main aim was to see College Savings Bank maintain its name and branding under the umbrella of NexBank. Since it was founded in 1987, College Savings Bank’s primary goal has been to focus on college savings. Parents preparing their children for advanced education have continuously partnered with the reputable bank.
The Executive Vice President and Chief Operating Officer, Matt Siekielski, applauded the acquisition stating that it will allow them to cater for their clients and at the same time helping families to save for higher education. The acquisition will help NexBank to expand its platform and speed up growth at the company.