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Two groups with ties to Plano-based Beal Bank have opened operations in Las Vegas.
To some degree, both enterprises plan to mimic the same business plan that built Beal into one of Texas' largest private financial institutions.
Beal Bank established Beal Savings Bank, a Nevada-chartered thrift that has the same holding company as Plano's Beal Bank, a privately held Texas savings bank with $7 billion in assets. It makes money buying and selling loans on the secondary market. It also originates commercial loans. Assets of Beal Savings have yet to be reported to federal regulators.
At the same time, Kelly Jones, the former chief financial officer of Beal Bank, put together $12 million in private equity...