Beal Bank
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Beal Bank is a Texas-based bank founded in 1988 by Andy Beal. Headquartered in Plano, Texas (just north of Dallas), Beal Bank has deposit branches in Texas (Dallas, Houston), California (Los Angeles, Orange County, and San Francisco), Georgia (Atlanta), and Missouri (St. Louis).
Beal Bank has assets of more than $2.4 billion and has “tier one” capital, or net worth, of almost $500 million.[1] This equals more than 20% of assets, or approximately four times the 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, gaming and lodging, energy, power, gas, manufacturing, timber, transportation & distribution, and other tangible assets.
[edit] Affiliates
Affiliated companies include Beal Bank Nevada, MGC Mortgage Inc., CSG Investments, Inc., and Loan Acquisition Corporation.
Beal Mortgage Services originates real estate-related loans of from $2 million to $200 million on income properties and raw land as well as land development and construction loans. Beal Mortgage Services specializes in loans on property types that have circumstances that typically do not qualify for lowest-rate financing, and also provides bridge loans on traditional multifamily, retail and office properties that may need to be turned around before being eligible for conventional loan underwriting.
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.
