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Bank
FINANCE | Retail Banking
woodforest.com

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Investments

6

Portfolio Exits

3

Funds

1

Partners & Customers

9

About Woodforest National Bank

Woodforest National Bank is a privately held bank headquartered in The Woodlands, Texas.

Woodforest National Bank Headquarter Location

P.O. Box 7889

The Woodlands, Texas, 77387,

United States

877-968-7962

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Latest Woodforest National Bank News

15:00 EDT Woodforest National Bank Invests $2.8 Million to Support Affordable Housing Efforts in Florida with Neighborhood Lendi...

May 26, 2022

News provided by Share this article Share this article THE WOODLANDS, Texas, May 26, 2022 /PRNewswire/ -- Woodforest National Bank® (Woodforest) is participating in the construction and permanent financing of several affordable housing developments in Florida through a $2.8 million guidance line of credit in a Low-Income Housing Tax Credit (LIHTC) pool with Neighborhood Lending Partners, Inc. (NLP). These LIHTC developer loans for single family and multi-family LIHTC projects within the State of Florida help NLP invest in community revitalization and neighborhood preservation, through the financing of affordable housing and other types of community developments. Woodforest National Bank is participating in construction and permanent financing of several affordable housing initiatives through a LIHTC developer loan pool with Neighborhood Lending Partners including the Kelsey Cove development (shown above) located in Brandon, FL which will offer 108 affordable housing units for area families. "I love working with Woodforest National Bank because they are extremely committed to our mission to lift communities and to the Community Reinvestment Act. Woodforest is easy to work with, while they are diligent and detail oriented. My initial contact with Woodforest was with Carmelita Scott from the Bank's Community Development Team. I am deeply saddened by her sudden passing. My heart goes out to her family, friends, and colleagues at Woodforest," said Thais Pepe, Senior Vice President/Senior Lender, NLP. Doug Schaeffer, Executive Vice President, CRA Executive Director, Woodforest National Bank, added, "Woodforest joined other like-minded organizations to help NLP focus on stabilization and redevelopment efforts in low-income neighborhoods which creates affordable homes and local jobs. With impactful projects such as this one with NLP our team continues to honor Carmelita Scott's legacy and the unwavering passion she had to help communities and families who need it most across our footprint." An example of a current development project NLP has underway is Kelsey Cove, located at 1010 E. Brandon Blvd., Brandon, Hillsborough County, FL, 33511. The development will offer 108 units for families earning 30%, 60% and 70% of the area median income. Unit amenities will include fully equipped kitchens, washer and dryer connections, and walk-in closets. Community amenities will include a pool, internet café, Wi-Fi connectivity, a fitness center, and an activity/clubroom. Construction started in October 2021 with anticipated completion September 2022. For affordable housing developments primarily funded by LIHTC equity and other federal programs, NLP combines bank member guidance LOCs to provide both construction and permanent financing. Woodforest is a member of NLP, a Certified Community Development Financial Institution (CDFI), and innovative affordable housing and community development lending consortium with over 30 member banks. Kelsey Cove is one of several affordable housing/community development projects the loan pool with NLP will finance. About Neighborhood Lending Partners, Inc. NLP has been a leading affordable housing lender in the State of Florida since 1993. The organization recently expanded into Georgia with the goal of replicating its work to increase the supply of high quality affordable and work force housing for families, seniors, and veterans. NLP is unique in its structure since it was created in large part to provide high quality community development lending opportunities for banks to participate in directly. Today, NLP has over thirty (30) bank members with representation in Florida and Georgia that participate primarily in NLP's multi-family affordable housing loans. NLP also provides revolving lines of credit to nonprofit and for-profit borrowers to rehab and build new single-family homes to sell to low-to-moderate income buyers. As a nonprofit U.S. Treasury-certified CDFI, NLP has a targeted mission to lift communities. About Woodforest National Bank Celebrating over 40 years of community banking service, Woodforest National Bank has successfully stood among the strongest community banks in the nation, proudly offering outstanding customer service since 1980. Woodforest currently operates over 760 branches in 17 states across the United States and is an Outstanding CRA-rated institution. For more information about Woodforest National Bank, please visit www.woodforest.com . SOURCE Woodforest National Bank

Woodforest National Bank Investments

6 Investments

Woodforest National Bank has made 6 investments. Their latest investment was in Tachus as part of their Line of Credit on January 1, 2022.

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Woodforest National Bank Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/28/2022

Line of Credit

Tachus

Yes

1

8/26/2021

Corporate Minority

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$99M

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10

10/8/2020

Series B

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$99M

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10

7/1/2019

Line of Credit

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$99M

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10

1/4/2019

Series A

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$99M

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10

Date

1/28/2022

8/26/2021

10/8/2020

7/1/2019

1/4/2019

Round

Line of Credit

Corporate Minority

Series B

Line of Credit

Series A

Company

Tachus

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Amount

$99M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

1

10

10

10

10

Woodforest National Bank Portfolio Exits

3 Portfolio Exits

Woodforest National Bank has 3 portfolio exits. Their latest portfolio exit was Finxact on February 07, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

2/7/2022

Acquired

$99M

13

10/22/2021

IPO

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$99M

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10

2/15/2019

Divestiture

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$99M

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10

Date

2/7/2022

10/22/2021

2/15/2019

Exit

Acquired

IPO

Divestiture

Companies

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Valuation

$99M

$99M

$99M

Acquirer

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Sources

13

10

10

Woodforest National Bank Fund History

1 Fund History

Woodforest National Bank has 1 fund, including Woodforest CEI-Boulos Opportunity Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

Woodforest CEI-Boulos Opportunity Fund

$20M

1

Closing Date

Fund

Woodforest CEI-Boulos Opportunity Fund

Fund Type

Status

Amount

$20M

Sources

1

Woodforest National Bank Partners & Customers

9 Partners and customers

Woodforest National Bank has 9 strategic partners and customers. Woodforest National Bank recently partnered with REPAY on October 10, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

10/1/2021

Vendor

United States

Woodforest National Bank picks Repay for clearing, settlement processing

Woodforest National Bank picks Repay for clearing , settlement processing .

2

9/21/2021

Vendor

United States

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10

6/29/2021

Partner

United States

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10

4/6/2021

Vendor

United States

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10

4/6/2021

Vendor

United States

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10

Date

10/1/2021

9/21/2021

6/29/2021

4/6/2021

4/6/2021

Type

Vendor

Vendor

Partner

Vendor

Vendor

Business Partner

Country

United States

United States

United States

United States

United States

News Snippet

Woodforest National Bank picks Repay for clearing, settlement processing

Woodforest National Bank picks Repay for clearing , settlement processing .

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Sources

2

10

10

10

10

Woodforest National Bank Team

5 Team Members

Woodforest National Bank has 5 team members, including former Chief Executive Officer, Cathleen Nash.

Name

Work History

Title

Status

Cathleen Nash

Chief Executive Officer

Former

Derrick Ragland

President

Former

Bob Beggs

Senior Vice President

Former

Kevin Butler

Senior Vice President

Former

Ryan Carley

Senior Vice President

Former

Name

Cathleen Nash

Derrick Ragland

Bob Beggs

Kevin Butler

Ryan Carley

Work History

Title

Chief Executive Officer

President

Senior Vice President

Senior Vice President

Senior Vice President

Status

Former

Former

Former

Former

Former

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