According to a Securities and Exchange Commission filing last week, the $605 million company raised $10 million in a private placement, on top of the $9.9 million it raised in a stock sale in January.
The company has said it intends to use the funds to support future growth, and the Dallas Business Journal reported Thursday that plans are in the works for it to open its third branch sometime in early 2012. The company also recently established a correspondent lending unit to go along with a warehouse lending division in started in 2008.
Like many banks, NexBank has also been beefing up its commercial and industrial loan portfolio while scaling back its real estate lending. At Sept. 30, real estate loans made up 62% of its total loan book, down from 74% a year earlier, while C&I loans accounted for nearly 40% of its total loans, up from 28% a year earlier, according to Federal Deposit Insurance Corp. data.
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