A Focus On NexBank’s Success And Philanthropic Engagements

NexBank is a financial services company, which was founded in 1922. It provides its clients with mortgage banking, institutional solutions, and commercial banking services. It offers customized banking and financial services to financial institutions, corporations, and institutional clients nationwide. The Dallas-based company has nearly 200 employees. Its executive management team strongly focuses on serving its clients by providing them with innovative financial services. The company’s experts use their vast industry experience to offer clients with outstanding services.

Recently, NexBank announced that they had completed raising a common equity capital of $24 million. The corporation intends to use the funds for general corporate purposes. John Holt, NexBank’s CEO said that they were happy with the success of the capital raising initiative and appreciated the encouraging response from the firm’s shareholders. He noted that the raised capital would offer extra support to the bank’s continued expansion and development strategies. NexBank COO and executive vice president, Matt Siekielski posited that the bank is well positioned to continue expanding its businesses around the globe.

As at June 30, 2016, NexBank reported a net income of $38.1 million. The return on average equity was 37.6 percent and the total deposits were $2.6 billion. This good performance marked a year over year rise of 61 percent and 49 percent respectively. The total assets were over $3.5 billion. After the second quarter, NexBank SSB had gross loans of $2.5 billion. These loans make up 72 percent of NexBank’s total assets. The regional bank maintained its capitalized status with a Tier 1 leverage ratio of 9.44 percent. NexBank SSP’s total risk-based ratio was 12.98 percent.

Because of its strong capital levels, earnings, and liquidity profile, Kroll Bond Rating Agency upgraded NexBank’s ratings. Its senior unsecured debt rating improved from BBB- to BBB. Similarly, NexBank SSB’s senior unsecured debt and deposit rating were elevated from BBB to BBB+.

Following the sniper attack in downtown Dallas, NexBank was among the banks that provided help to the affected families via the Texas Bankers Association. The company donated funds to the Assist Officer Foundation, which is run by the Dallas Police Association. Holt asserted that the only thing that people can do during awful times is to come together and assist those that are suffering.