Beal Bank and Beal Bank USA are banks founded by Texas-based entrepreneur D. Andrew Andy Beal. Headquartered in Dallas, TX, Beal Bank was founded in 1988. Headquartered in Las Vegas, NV, Beal Bank USA (formerly Beal Bank Nevada) was founded in 2004. As of September 30, 2016, the banks had combined total assets of more than $7.8 billion and combined total capital of more than $2.8 billion. Both banks are members of and are insured by the Federal Deposit Insurance Corporation (FDIC). The banks offer deposit products to the public including CDs, money market accounts, statement savings accounts, and IRA CD accounts that are insured by the FDIC. The banks are considered wholesale banks because they do not offer consumer loans or checking accounts. Both banks purchase pools of non-agency residential first liens and commercial real estate-secured loans, and also fund commercial loans and participations in loans, through affiliates. With 16 retail branches and online banking, Beal Bank reports capital in excess of $988 million and assets in excess of $2.4 billion as of September 30, 2016. This equals capital of more than 48.55% of assets; the FDIC standard is 5% for a well-capitalized bank.