Arlington, VA (April 27, 2020) National Cooperative Bank (NCB), a leading financial institution dedicated to providing banking solutions to cooperatives and socially responsible institutions nationwide, is pleased to announce the closing of a $30.6 million loan to Brookshire Brothers Holding Company, located in Lufkin, Texas.
As the lead bank, NCB provided a $11.1 million loan, part of an overall $30.6 million commercial real estate financing package. Three additional local Texas based financial institutions were also participants in the transaction.
Founded in 1921, Brookshire Brothers is 100 percent employee-owned company providing jobs and ownership to more than 7,000 employee-owners. The company is a self-distributing retail grocer with approximately 125 outlets predominantly serving rural communities in East Texas, the outskirts of Houston as well as Louisiana. In addition to its grocery stores, the company also operates convenience stores, fueling locations and pharmacy stores.
"Brookshire Brothers has been a NCB customer of since 2006”, stated Senior Vice President Brian Misenheimer. “We are proud to continue our banking partnership with an organization which is not only focused on serving their local community- but their employee owners.”