NexBank is a behemoth financial institution with vested interests in mortgage finance and commercial banking, banking and personalized financial services. The bank serves private and public banks, corporations and individual realtor investors. NexBank SSB was reported to hold assets of over $6.4B, as of mid-2017. The executive team at NexBank has done a commendable job of raising finances in the previous years. James Dondero, the Co-Founder, oversaw the raising $24 million in total equity funding in the first round alone. In August 2017, the company shattered all expectations when it succeeded in raising an extra $20 million.
Dondero’s Plans for NexBank SSB
John Holt, the president, and CEO of NexBank spoke to a presser soon after the first successful round of capital raising that netted $24M. Here’s a recap of the CEO’s statement. For starters, he reminded everyone in attendance that the funds raised would get funneled into improving the corporate look of the banking firm. John thanked the shareholders for their continued belief and support in the mortgage specializing company.
Here are the notable financial fact sheets revealed by John Holt at the presser, according to PRN Newswire.com.
- In 2016, NexBank grossed a net income of $38.1M
- Its return on average equity figure stood at 37.6%
- Total assets reported at over $3.5B
- Total deposits in 2016 recorded at $2.6B
- Gross loan obligations to NexBank in 2016 stood at $2.5B
- The bank retained a tier 1 leveraging status with a ratio of 9.44%
NexBank’s Vice President also expressed his optimism at the future prospects of the leading mortgages firm. He remarked how the extra capital would go into facilitating future scalability options for NexBank Capital, Inc.
BBB- to BBB+
NexBank Capital, Inc. was fortunate to secure a higher unsecured debt rating from the distinguished BBB. The company’s debt rating moved from negative to positive credit rating owing to the tremendous accomplishments they’d made in the banking arena of late. They are authorized and accredited to offer its core services by the FDIC.