Successfully raises senior notes to $155 million

Nexbank has been providing financial services to the residents of Dallas Texas and beyond for the past century. Lately, they have been pursuing initiatives and deals that would improve their performance and at the same time benefit their customers. The initiative that they came up with was the senior unsecured notes. These have been offered publicly and so far, more than $155 million has been issued.

The arrangement states that the notes will mature on the 16th of March 2026, however, the notes will start being callable in the March of 2021. The deal has been created such that for the first five years, the notes will bear interest at a fixed rate of 5.5 percentage points. Then, when the first five years have ended, they will spread the rates over a 3 month period. The spread will be based on a 3 month LIBOR of 435.5 basis points. The better business bureau took time to rate the transaction and deemed it as commendable while the Kroll Bond rating agency approved the deal.

The bank hopes that all the profits that will come from this deal will cover the debts issues of the company with the remainder catering for various other corporate uses. The placement agent who brokered this deal was Sandler O’Neil and partners. John Holt, the CEO of Nexbank stated that this transaction was crucial for the bank as it would help them solidify their balance sheet and attain much needed capital for other investments. John, who also serves as the Chief Operations Officer stated that the move was a great success for the bank because it would really help the development of their organization.

About Nexbank

Nexbank has been serving the citizens of Texas since 1912. They are involved with commercial banking, mortgage banking and many other investment types. They deal with both public and private companies that need their financial services.

 

Texas Bankers Association Look To Nexbank President To Provide Advice For Members

November 2016 saw the Texas Bankers Association call on John Holt, CEO and President of Nexbank to sit on a panel providing information on the way community banking can improve in the state in the coming years. John Holt attended the Texas Bankers Association’s 5th Annual Strategic Opportunities and M&A Conference where he was part of a panel providing their views on “Reinventing Community Banking”.

 

The need for effective mergers and acquisitions strategies have been an area John Holt has become something of an expert in as he has worked extensively in these areas with Nexbank; Holt provided those banking professionals and consultants attending the meeting with his own experiences on how mergers and acquisitions can have a major effect on the growth of community banking experts. The Texas Bankers Association asked John Holt to provide his own views and opinion on how community banking should grow organically and provide the best possible experience for customers of all types through the use of branching as an effective growth strategy.

 

Nexbank has a long history of providing the best possible banking options to business, financial, and individual customers since its charter was established in 1922; the bank has recently been growing as it has looked to develop new strategies for providing financial services for businesses of all sizes and financial institutions across the U.S.

 

Under the leadership of John Holt, Nexbank has not forgotten its history of providing financial services for individuals across the nation, including a growing mortgage sector that has proven a success for many Texas based community members. In many cases, Nexbank is willing to work with their customers to help develop new strategies custom designed to provide the best in financial options to help any individual or group to achieve long term success.