NexBank Reports Third Consecutive Year of Record Results
DALLAS, Feb. 18, 2015 /PRNewswire/ -- NexBank Capital, Inc. a fully-integrated financial services company, has announced financial results for the fourth quarter and full-year of 2014, highlighted by record net income for a third consecutive year. NexBank achieved exceptionally strong returns and a third year of record total assets, deposits and loans, supported by significant growth in its core businesses. NexBank continued to maintain capital ratios above the regulatory requirements at the end of the fourth quarter.
"We continue to achieve consistent, prudent growth and improved returns while maintaining excellent asset quality and capital ratios. With our growth initiatives for 2015, and a firm commitment to support our clients' developing needs, NexBank is on track for another strong year of performance," said John Holt, President and Chief Executive Officer of NexBank Capital, Inc.
NexBank SSB increased its total assets by 42% to $1.81 billion during the twelve months ending December 31, 2014. Total deposits grew to $1.43 billion, a year-over-year increase of 42%. Loan portfolio investments expanded to $1.38 billion, an increase of 45% from the fourth quarter of 2013.
"NexBank has delivered record results for a third consecutive year, reflecting the growth of our core businesses and increasing capital position. We continuously improve the scale and efficiency of our services to strengthen our product offering for our clients, which has advanced our position as a leading provider in the market," said Matt Siekielski, Chief Operating Officer of NexBank Capital, Inc.
At December 31, 2014, the Tier 1 leverage ratio stood at 9.33% and the total risk-based capital ratio stood at 14.10%. The Bank continues to maintain excellent asset quality and had a ratio of nonperforming assets (NPAs) to total assets of 0.09% at December 31, 2014. Its return on equity (ROE) and return on assets (ROA) increased to 31.1% and 2.9%, respectively, for the fourth quarter. The Bank reported net income of $29.04 million for its year ended December 31, 2014, as compared to $13.28 million over the same period in 2013.
"NexBank holds strong principles across all areas, from funding and liquidity to credit and risk management and we remain very well-capitalized. We have achieved balanced growth and have become a leaner and more efficient bank, leaving NexBank well-positioned to capitalize on opportunities and continue to deliver strong returns in 2015," said Joshua Bock, General Counsel for NexBank Capital, Inc.
NexBank Capital, Inc. also reported continued growth. Total assets grew to $1.83 billion, a year-over-year increase of 41%, and return on average equity (ROAE) and return on average assets (ROAA) increased to 23.2% and 1.6%, respectively, year-to-date for 2014. Its return on equity (ROE) and return on assets (ROA) increased to 36.9% and 2.5%, respectively, for the fourth quarter. NexBank Capital, Inc. reported net income of $25.60 million for its year ended December 31, 2014, as compared to $11.66 million over the same period in 2013.
As a reflection of its strong capital levels, liquidity profile and earnings, NexBank Capital, Inc. received senior long-term and short-term debt ratings of BBB- and K3, respectively, and NexBank SSB received a long-term rating of BBB and a short-term rating of K2 for its deposits by Kroll Bond Rating Agency. Both ratings have a stable outlook.
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 financial services provider, the group delivers commercial banking, mortgage banking, investment banking and corporate advisory services to large corporations, real estate investors, middle-market companies, small businesses and banks, as well as some of the largest institutional clients in the capital markets. (www.NexBank.com)
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SOURCE Michael A. Burns & Associates
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