Category Archives: Financial Services

Under Tony Petrello’s leadership, Nabors Industries climbs to top of the heap

Few industries are as competitive as the oil extraction business. Since the Texas oil boom of the early 1900s, vast fortunes have been made and lost in the United States oil industry. Only the strongest, most motivated and those possessing the vision to persevere could make it in such a climate of stiff competition.

One of those people is Tony Petrello. Over a career spanning more than 25 years in executive roles, Petrello has taken Nabors Industries from the brink of bankruptcy to become one of the most innovative and strongly positioned oil extraction companies in the entire world. With the largest fleet of land-based drilling equipment of any company on earth, Nabors Industries has set the pace for a profitable extraction of oil and gas resources in both the United States and across the globe.

One of Petrello’s key ideas has been the diversification of Nabors Industries into highly innovative solutions designed to aid the extraction of hard oil resources that are common throughout the North American market. Nowhere has this been more apparent than in the case of the North Dakota fracking field or the Alberta tar sands. In the case of the Bakken Shale formation, Nabors Industries has established itself as the premier provider of all drilling equipment, securing a niche market worth billions of dollars and materially contributing to the total U.S. energy production.

It is through adroit moves like this that Petrello has established himself as one of the greatest oil and gas CEOs in recent history. Through his strong leadership and vision, Petrello will lead Nabors Industries into the 21st century with confidence and skill, securing its position as the top producer in the U.S. oil and gas industry.

 

Donates Funds To The Officer Foundation

On Thursday night, a sniper attack in Downtown Dallas left several Dallas police officers dead and others wounded. Banks and employees in Texas have come together to support the families of those who were killed or wounded. These individuals have donated to the Assist Officer Foundation, an organization run by the Dallas Police Association. In case of death or injury of a police officer, the entity offers immediate financial assistance to the families of such officers. NexBank was among the financial institutions that contributed funds in support of the affected families. The bank’s president and CEO, John Colt, applauded the citizens and companies that joined forces to support the victims. He went on to assert that even though the funds may not eliminate the harm caused, they lessen the pain of victims.

About NexBank Capital

NexBank Capital, Inc. is a Dallas-based company that offers financial services through three major avenues, which are mortgage banking, investment banking and commercial banking. Over the years, the company has been providing customized services to institutional clients, corporations and financial institutions across the world. In August 2016, NexBank announced the completion of $24 million in common equity capital. John Colt said that the raised funds would be used to enhance the company’s growth and development opportunities. He also thanked their shareholders for their continued support. NexBank had a net income of $38.1 million and ROAE of 37.6 percent in the first half of 2016. The total assets amounted to more than $3.5 billion and total deposits stood $2.6 billion at the end of June. This impressive performance marked an increase of 61 percent and 49 percent respectively.

By June, NexBank SSB, a regional bank and a member of the FDIC, had total gross loans of $2.5 billion, which made 72 percent of the bank’s total assets. NexBank Capital, Inc. and NexBank SSB’s strong capital levels, earnings and liquidity profiles have earned them good ratings from Kroll Bond Rating Agency. The senior unsecured debt of NexBank was upgraded from BBB- to BBB while NexBank SSB received a rating of BBB+ on deposit and senior unsecured debt. The executive VP and chief operating officer of Nexbank Capital, Inc, Matt Siekielski said that the raised capital would enable the company to expand its operations.