DALLAS, Aug. 9, 2017 /PRNewswire/ -- NexBank Capital, Inc., a Dallas-based financial services company, announced that it successfully completed a $20 million common equity capital raise that closed on June 30, 2017. The proceeds from the capital raising effort will be used for general corporate purposes. With this closing, NexBank Capital, Inc. has raised over $220 million of debt and equity since 2016.
"The support from our shareholders provides further validation of NexBank's business plan and strong financial position," said John Holt, President and Chief Executive Officer of NexBank Capital, Inc. "This additional capital will allow us to accelerate growth as we continue to strengthen and enhance NexBank's performance."
"With this capital raise, we will continue to scale NexBank's institutionally-focused businesses," said Matt Siekielski, Executive Vice President and Chief Operating Officer of NexBank Capital, Inc.
NexBank Capital, Inc. recently announced record levels of consolidated assets, loans and deposits. As of June 30, 2017, total assets reached $6.4 billion, compared to $3.5 billion for the same period last year. Total deposits reached $5.8 billion, compared to $2.6 billion for the second quarter of 2016, and total loans reached $3.9 billion, compared to $2.5 billion as of June 30, 2016.
NexBank Capital, Inc. reported net income of $46 million for the first six months of 2017. The return on average equity (ROAE) and return on average assets (ROAA) were 31 percent and 1.7 percent respectively, year-to-date for 2017.
NexBank SSB, a leading regional bank, continues to significantly contribute to NexBank Capital Inc.'s growth while maintaining its well-capitalized status. NexBank SSB's tier 1 leverage ratio and total risk-based capital ratio stood at 8.20 percent and 13.23 percent, respectively, at June 30, 2017.
As a reflection of its strong capital levels, liquidity profile and earnings, the company's investment grade ratings were affirmed by Kroll Bond Rating Agency (KBRA). KBRA affirmed the senior unsecured debt rating of BBB for NexBank Capital, Inc. and the deposit and senior unsecured debt ratings of BBB+ for NexBank SSB. The ratings have a stable outlook.
All financial information presented in this release is unaudited.
About NexBank Capital, Inc.
NexBank Capital, Inc. is a financial services company that serves its clients through three core businesses: Commercial Banking, Mortgage Banking and Institutional Services. It provides customized financial and banking services primarily to institutional clients, financial institutions, and corporations nationwide. www.NexBank.com
NexBank SSB is a member of the FDIC.