Beal Savings Bank
From Wikipedia, the free encyclopedia
Beal Savings Bank is a Nevada bank chartered in 2004. Its headquarters and deposit location are located in Las Vegas, Nevada. Beal Savings Bank has capital in excess of $1.6 billion and assets in excess of $2.1 billion as of September 30, 2006, and is a subsidiary of Dallas-based Beal Financial Corporation (consolidated capital in excess of $2.3 billion and assets in excess of $3.9 billion as of September 30, 2006). Affiliate companies include Beal Bank, CSG Investments, Inc., Loan Acquisition Corporation, and Beal Mortgage Services.
As a wholesale bank, Beal Savings Bank offers FDIC-insured term deposit accounts through certificates of deposit (CDs), money market accounts, and other products. Beal Savings Bank does not offer such retail services as consumer loans and checking accounts. (Beal Savings Bank is not a branch of Texas-chartered Beal Bank; it is independently chartered in Nevada.)
In conjunction with affiliates CSG Investments, Loan Acquisition Corporation, and Beal Mortgage Services, Beal Savings Bank is active in commercial real estate acquisition and development; individual loan and loan portfolio acquisition; and financing and funding loans and participations in loans secured by tangible assets in such industries as real estate; gaming and lodging; energy, power and gas; manufacturing; timber; and transportation and distribution. In sum, Beal Savings Bank functions primarily as a direct source of debt for large commercial borrowers.
