Nexbank, a Dallas-based financial services company, had embarked on a mission to raise equity capital from their shareholders. The company had targeted to raise $24 million for use in the 2016 financial year. According to recent reports from the organization, the firm had already hit their $24 million equity capital raise target for the month of June 2016. The money raised from the shareholders would be used for general corporate purposes.
John Holt is the CEO and the President of the company. While making his statement, he noted that they appreciated the shareholder’s efforts to raise the capital that would allow for the smooth running of the enterprise. He also pointed out that the capital increase would provide Nexbank with additional finances to support their continued growth strategy by the financial institution.
During the first half of 2016, Nexbank capital recorded a net profit of $38.1 million and Return on average (ROAE) of 37.6%. The company recorded an increase in their total assets which exceeded $3.5 billion. The total customer deposits reached a record high of $2.6 billion as at 30th June 2016. Nexbank SSB, a $3 billion regional bank based in Dallas reported total loans of $2.5 billion during the second quarter of the year, which constituted 72% of the total Bank’s assets. The Bank maintained its status as a well-capitalised bank with a Tier 1 leverage ratio of 9.44% and a total risk-based capital ratio of 12.98%.
As a result of its increased capital levels, liquidity profile and earnings, NexBank SSB and NexBank Capital, Inc, were rated higher with a stable outlook from the Kroll Bond Rating Agency. NexBank Capital Inc unsecured debt rating was upgraded from BBB- to BBB. Additionally, NexBank SSB deposit and senior unsecured debt rating were upgraded from BBB to BBB+.
About NexBank Capita Inc
NexBank is a reputable financial services company based in Dallas. It focuses on providing commercial banking, investment banking, and mortgage banking. The bank also provides customized financial and banking services to financial institutions, institutional clients, and corporations worldwide.