NexBank is a group of companies located in Dallas, Texas that strive to help commercial clients with their banking needs. We provide Institutional services including short and long term lending programs, capital raising options and treasury management services. We help customers of all shapes and sizes accomplish their business expansion and growth.
NexBank also provides depository services and special accounts for financial
institutions, mortgage services, asset managers and commercial businesses. Our goal is to help businesses optimize their daily cash flow and interest earning options.
We serve corporations, financial institutions and middle market companies and real estate investors with a number of lending options and deposit methods. Our professional staff help organizations develop the best cash flow operations for their businesses. We help businesses with liquidity issues, deposits and lending.
Our Mortgage Banking group works with wholesale and correspondent banking as well as warehouse lines of credit for mortgage brokers. NexBank is an FDIC insured bank. We are the 4th largest bank in Dallas, and the 13th largest in the state of Texas. We have a lending limit of $87.7 million , but we have syndication opportunities. Our mortgage banking reached $3.5 billion in 2015 and $5 billion in 2016.
In June of 2016 we completed a $24 million equity capital offering. The proceeds will be used for general purposes. The funds will help us continue our growth and expansion. In the first half of 2016 the bank had net income of $38.1 million. This was a return on average equity of 37.6 percent. Our total assets at the time was more than $3.5 billion. Total deposits were $2.6 billion. This was a 61% and 49 percent increase over the previous year.
We expect to continue our stellar growth in assets and income in the coming months. We received a recent upgrade in our rating from BBB- to BBB with a stable outlook, from Kroll Bond Rating Agency.