NexBank Completes $54 Million Subordinated Debt Offering

DALLAS, Sept. 29, 2017 /PRNewswire/ -- NexBank Capital, Inc., a Dallas-based financial services company, announced the successful completion of a $54 million private placement of its fixed-to-floating rate subordinated notes to certain institutional and high net worth investors. NexBank Capital, Inc. intends to use the proceeds of the offering for general corporate purposes. With this closing, NexBank Capital, Inc. has raised $283 million of debt and equity since 2016.

The notes are non-callable for five years and have a stated maturity of September 30, 2027. The notes bear interest at a fixed rate of 6.375% for five years, and thereafter at a floating rate based on a spread above the then current three-month LIBOR of 458.5 basis points. The notes have been assigned an investment grade rating of BBB- with a stable outlook by Kroll Bond Rating Agency and qualify as Tier 2 capital under applicable capital regulations.

Sandler O'Neill & Partners, L.P. acted as the sole placement agent for the private offering of the notes. The offering closed on September 19, 2017.

The notes are not registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

About NexBank Capital, Inc.

NexBank Capital, Inc. is a financial services company that serves its clients through three core businesses: Commercial Banking, Mortgage Banking and Institutional Services. It provides customized financial and banking services primarily to institutional clients, financial institutions, and corporations nationwide. www.NexBank.com

NexBank SSB is a member of the FDIC.

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