Beal Bank
Encyclopedia
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. 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.
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.
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.
Andrew Beal
D. Andrew "Andy" Beal is a Dallas, Texas-based billionaire businessman who was born and raised in Lansing, Michigan. He made his fortune in banking and real estate and is the founder and chairman of Beal Bank and Beal Aerospace Technologies. Beal is also known for his high-stakes poker games and...
. Headquartered in Dallas, Texas
Dallas, Texas
Dallas is the third-largest city in Texas and the ninth-largest in the United States. The Dallas-Fort Worth Metroplex is the largest metropolitan area in the South and fourth-largest metropolitan area in the United States...
, 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. This equals more than 22% of assets, or more than four times the Federal Deposit Insurance Corporation
Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation is a United States government corporation created by the Glass–Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank. , the FDIC insures deposits at...
(FDIC) standard of 5% for a well-capitalized bank.
The bank is a member of the FDIC and is an Equal Housing Lender
Equal Housing Lender
The terms equal housing lender and equal opportunity lender are synonymous and refer to all banks insured by the Federal Deposit Insurance Corporation in the United States. Such banks are prohibited from discriminating on the basis of race, color, religion, national origin, sex, handicap, or...
. 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
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
, energy, power
Electric power
Electric power is the rate at which electric energy is transferred by an electric circuit. The SI unit of power is the watt.-Circuits:Electric power, like mechanical power, is represented by the letter P in electrical equations...
, gas
Natural gas
Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...
, manufacturing
Manufacturing
Manufacturing is the use of machines, tools and labor to produce goods for use or sale. The term may refer to a range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale...
, timber
Timber
Timber may refer to:* Timber, a term common in the United Kingdom and Australia for wood materials * Timber, Oregon, an unincorporated community in the U.S...
, transportation & distribution, and other tangible assets.
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
Small Business Administration
The Small Business Administration is a United States government agency that provides support to entrepreneurs and small businesses. The mission of the Small Business Administration is "to maintain and strengthen the nation's economy by enabling the establishment and viability of small businesses...
(SBA), and numerous private sellers.