UPDATE 1-Nexity Financial files for bankruptcy

* Lists both assets and debt in $10 mln-$50 mln range

* Says bank's daily operations not directly affected

July 22 (Reuters) - Nexity Financial Corp NXTY.PK, the Alabama-based parent of Nexity Bank, filed for bankruptcy protection under a pre-negotiated deal with bondholders that includes a private sale of $175 million of stock.

The company said last week that it would file for Chapter 11, after failing to win enough support from creditors to restructure its debt.

In court papers, Nexity listed both assets and liabilities in the $10 million to $50 million range.

Birmingham-based Nexity had tried to recapitalize itself after the Federal Deposit Insurance Corp ordered the banking unit to bolster capital in March 2009.

It provides capital and support services to community banks and small businesses.

Nexity Bank's daily operations will not be directly affected and deposits will remain insured up to FDIC limits, the company said.

The case is In re: Nexity Financial Corp, U.S. Bankruptcy Court, District of Delaware (Delaware), No: 10-12293. (Reporting by Santosh Nadgir in Bangalore; Editing by Gopakumar Warrier)