InvestmentsMortgage

NexBank raises $20 million to fund growth

Company offers mortgage banking, commercial banking, institutional services

NexBank Capital, a Dallas-based financial services company, announced this week that it recently completed a $20 million common equity capital raise.

NexBank currently offers mortgage banking in the form of warehouse lending, wholesale lending, and correspondent lending; commercial banking; and institutional services.

According to details provided by the company, the capital will be used for “general corporate purposes,” although John Holt, NexBank Capital’s president and CEO, said that the money will be used to fund the company’ growth.

“The support from our shareholders provides further validation of NexBank's business plan and strong financial position,” Holt said. “This additional capital will allow us to accelerate growth as we continue to strengthen and enhance NexBank's performance.”

The company said that this latest capital infusion increases its total capital raised to more than $220 million of debt and equity since 2016.

Recently, the company announced record levels of consolidated assets, loans and deposits. As of June 30, 2017, the company’s total assets reached $6.4 billion, nearly double the $3.5 billion in assets the company had during the same period last year.

Additionally, NexBank’s total deposits hit $5.8 billion, compared to $2.6 billion for the second quarter of 2016, and its total loans reached $3.9 billion, compared to $2.5 billion as of June 30, 2016.

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