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State National Raises Capital

FORT WORTH, Texas - State National Companies, a financial services provider to credit union, has raised $7.5 million in capital through the issuance of floating rate trust preferred securities by TBA Statutory Trust. This marks the company's second issuance this year. The floating rate trust preferred securities are redeemable at...

By Staff Writer | Updated on September 02, 2003

FORT WORTH, Texas – State National Companies, a financial services provider to credit union, has raised $7.5 million in capital through the issuance of floating rate trust preferred securities by TBA Statutory Trust. This marks the company’s second issuance this year. The floating rate trust preferred securities are redeemable at par on or after May 15, 2008 and mature on May 15, 2033. State National’s Program Service Division reports an active first half of the year including the addition of 11 new programs.

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