Back

Beal Bank

Beal Financial Corporation
Company typePrivate
IndustryBank
FoundedMarch 10, 1988; 36 years ago (1988-03-10)
FounderAndrew Beal
Headquarters
Plano, Texas
OwnerAndrew Beal
Websitewww.bealbank.com
Footnotes / references
[1][2]
Beal Bank
Number of locations
6
Total assets$4.843 billion (2024)
Footnotes / references
[3]
Beal Bank USA
Company typeBank
FoundedAugust 2, 2004 (2004-08-02)
Headquarters
Las Vegas, Nevada
Number of locations
11
Total assets$18.030 billion (2024)
Footnotes / references
[4]

Beal Financial Corporation is a bank holding company based in Plano, Texas that operates two federally chartered banks: Beal Bank, with 6 branches,[1] and Beal Bank USA, headquartered in Las Vegas, Nevada, with 10 branches and a direct bank.[2] It is on the list of largest banks in the United States. It was founded by and is entirely owned by billionaire Andrew Beal and specializes in acquiring distressed securities at discounted values. It acquires risky loans, but keeps a much higher equity buffer than other banks.[5][6]

  1. ^ a b "Beal Bank". Federal Deposit Insurance Corporation.
  2. ^ a b "Beal Bank USA". Federal Deposit Insurance Corporation.
  3. ^ "View -- Executive Summary Report". Federal Financial Institutions Examination Council.
  4. ^ "View -- Executive Summary Report". Federal Financial Institutions Examination Council.
  5. ^ Cite error: The named reference deposits was invoked but never defined (see the help page).
  6. ^ Vardi, Nathan (April 15, 2015). "The Billionaire Banker Ready to Bet on Oil". Forbes.
From Wikipedia, the free encyclopedia · View on Wikipedia

Developed by Nelliwinne