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SOURCE NexBank Capital, Inc.
DALLAS, June 11, 2014 /PRNewswire/ -- NexBank Capital, Inc., a fully-integrated financial services company, was assigned senior long-term and short-term debt ratings of BBB- and K3, respectively. NexBank SSB was assigned a long-term rating of BBB and a short-term rating of K2 for its deposits. The outlook on all ratings is stable. The ratings were assigned by Kroll Bond Rating Agency (KBRA).
NexBank's strong capital levels, liquidity profile, and earnings metrics supported the ratings. "This announcement reflects the continued growth and performance of the bank; the strength of the management team and our professionals; and our focus on sound financial practices," said John Holt, CEO and President of NexBank Capital, Inc. and the Chairman of the Board for NexBank SSB.
NexBank has achieved significant growth while maintaining its well-capitalized status with strong capital ratios and exceptionally low levels of non-performing assets, which stood at 0.03% at March 31, 2014. The tier 1 and total risk-based capital ratios stood at 9.27% and 13.61%, respectively.
At the end of this year's first quarter, the bank's assets grew to $1.36 billion and deposits exceeded $1.13 billion, a year-over-year increase of 66% and 59%, respectively. In addition, the bank's loan portfolio expanded to $1.07 billion, an increase of 71% from the first quarter of 2013. These increases are primarily related to the growth of NexBank's institutionally-focused product and service offering.
NexBank Capital, Inc. also reported strong growth over the last year. Total assets grew to $1.38 billion, a year-over-year increase of 59% from the first quarter of 2013. Its return on average equity has increased to 16% and its net income levels were $3.86 million for the first quarter of 2014.
NexBank provides commercial, investment and mortgage banking products and services, and is the fifth-largest bank headquartered and operating in Dallas.
About NexBank Capital, Inc.
NexBank Capital, Inc. is a fully-integrated financial services organization that includes a commercial and investment bank. As a leading regional bank, the group provides commercial banking, mortgage banking, investment banking and corporate advisory to large corporations, real estate investors, middle-market companies, small businesses, banks, as well as some of the largest institutional clients in the capital markets. (www.NexBank.com)
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