Beal Bank
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Beal Bank is a Texas-based bank founded in 1988 by Andy Beal. Headquartered in Dallas, Texas, Beal Bank has deposit branches in more than 30 major metropolitan areas across the United States.
Beal Bank has assets of more than $3.6 billion and has “tier one” capital, or net worth, of almost $800 million.[1] This equals more than 22% of assets, or more than four times the Federal Deposit Insurance Corporation (FDIC) standard of 5% for a well-capitalized bank.[2]
The bank is a member of the FDIC and is an Equal Housing Lender. It offers FDIC-insured term deposit accounts through certificates of deposit (CDs), money market accounts, and other products. It does not offer such retail banking services as consumer loans and checking accounts.
Through affiliates, Beal Bank is active in commercial real estate acquisition as well as individual loan and loan portfolio acquisition. It also funds loans and participations in loans secured by real estate, energy, power, gas, manufacturing, timber, transportation & distribution, and other tangible assets.
[edit] Affiliates
Affiliated companies include Beal Bank Nevada, CSG Investments, Inc., and Loan Acquisition Corporation.
Loan Acquisition Corporation buys individual loans and loan portfolios and has been an active buyer in the secondary market for mortgage loans (excluding prime residential loans). Since mid-2000, Loan Acquisition Corporation acquired more than $3 billion in loans from different sellers, including the FDIC, the Small Business Administration (SBA), and numerous private sellers.
