NexBank Capital is a financial services firm that excels in investment banking, commercial banking, and mortgage banking solutions. NexBank SSB is a subsidiary of NexBank Capital. It specializes in personal checking accounts, mobile banking, savings accounts, and commercial lending services. With its headquarters in Dallas, TX, NexBank also provides clients with customized banking and financial services. These services target nationwide corporations, institutional clients, and financial institutions.
In 2016, NexBank Capital completed an equity capital raise valued at $24 million. The money generated from the capital raise was budgeted for the company’s general corporate activities. NexBank attributes most of its success to John Holt, the CEO, and president. According to Holt, the $24 million capital raise is meant for improving NexBank’s development opportunities and continued growth.
In 2016, NexBank Capital recorded an income of $38.1 million during the first six months of the year. This net income had returns on 37.6 percent average equity. Furthermore, the financial institution’s assets were worth over $3.5 billion. The agency also reported that its total deposits exceeded $2.6 billion by mid of 2016. When compared to 2015, NexBank recorded a 61 percent increase in growth of assets. Consequently, the firm recorded a 49 percent increase in total deposits collected.
As a regional bank, NexBank SSB provided clients loans valued at $2.5 billion in the second quarter of 2016. This amount is projected to increase in 2017 as the company is targeting customers who seek margin-based loans. The executive VP and COO of NexBank Capital, Matt Siekielski, is optimistic that the firm’s scalable businesses can grow with better capital raising strategies. He also believes that the 2016 capital raise is a manifestation of NexBank’s commitment to expanding nationwide and globally.
Kroll Bond Rating
NexBank Capital and NexBank SSB both received a high rating from the Kroll Bond Rating Agency. These ratings are a reflection of the earnings, liquidity profile, and capital levels of the two financial institutions. NexBank Capital earned a rating of BBB, which is an improvement from its previous BBB- rating. Consequently, NexBank SSB scored BBB+ that was an improvement from its previous BBB rating.