NextBank is a Dallas based financial service company. It recently announced the completion of a $54 million private placement of its fixed to floating rate subordinated notes. These notes are for the next five years callable and earn interest at a rate of 6.375% after which the floating rate will be spread to the three month LIBOR of 458.5 basis points. These notes have an investment grade rating BBB and a stable outlook by the Kroll Bond Rating Agency. The offering closed on 19th September 2017 and Sandler O’Neill & Partners, L.P were the sole placement agent. Since the notes are not registered under the Securities Act, they might not be sold to the United States absent registration.
The core service of NextBank is serving its clients through Institutional Services, Mortgage Banking, and Commercial Baking. Some of the commercial services offered by NextBank in the business line are agency services, credit services, commercial lending, and treasury management. The three main personal banking services provided by NextBank are; mortgages, savings, and checking, while the institutional services include investment banking, public funds, real estate advisory, treasury management, and financial institutions.
The leaders of NextBank have strong focus and they put together the industry expertise to serve the company clients offering them financial service for individuals, institutions, and corporate organizations. NextBank is dedicated to creating long-term relationships with its partners and they provide additional warehouse lines so that their clients can fund their loans more adequately. They create customized solutions that meet each client’s unique needs for developing programs that empower their investments.
NextBank provides a variety of funding solutions to meet the needs of mortgage professionals. The company staff are well trained and experienced thus helping their clients to gain a competitive edge in the market. Their representatives are always ready to serve the clients and help them go through the application process successfully. The staff understand the market and so they deliver quick and reliable funding. Their services are personalized and flexible some of which are; Jumbo, Conforming, and Government. Most financial institutions trust NextBank to help them grow, improve their services, and maximize their earnings.