Latest news with #ANB
Yahoo
16-05-2025
- Business
- Yahoo
KBRA Affirms Ratings for The ANB Corporation
NEW YORK, May 16, 2025--(BUSINESS WIRE)--KBRA affirms the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Terrell, Texas-based The ANB Corporation ("the company" or "ANB"). Additionally, KBRA affirms the deposit and senior unsecured debt ratings of BBB+, the subordinated debt rating of BBB, and the short-term deposit and debt ratings of K2 for the lead subsidiary, The American National Bank of Texas ("the bank"). The Outlook for all long-term ratings is Negative. Key Credit Considerations The ratings remain supported by the company's credit quality that has tracked above peers; a trend of asset quality outperformance that we expect to continue. Although partially attributable to the benign credit environment, the company's favorable loss history is reflective of disciplined underwriting practices, solid borrower credit profiles, and robust economies of operation within the Dallas-Forth Worth, Texas MSA. We acknowledge that ANB exhibits some geographic concentration risk, with operations largely based in Texas—typically, a higher-beta market. Moreover, despite a slightly elevated C&D lending exposure, when compared to similarly rated peers (14% of total loans at 1Q25), we positively view the reduction in exposure in recent years (80% of total risk-based capital as of 1Q25). Additionally, despite the moderately elevated C&D concentration, overall investor CRE exposure remains well managed at 230% of total risk-based capital. With regard to 'riskier' loan sectors such as office, hotel, and healthcare and social assistance, the company's exposure is minimal and we take comfort in the disciplined underwriting standards, the granular nature of the portfolio, and its focus on suburban markets, which helps mitigate associated risks. Moreover, KBRA views positively the company's strong track record in terms of credit quality given historically low levels of NPAs and minimal loss content, in addition to loan loss reserves of 1.21% of total loans at 1Q25, covering NPAs by 134%. The maintenance of the Negative Outlook is largely predicated on the company's weakened earnings profile due to a concentration of longer term, low-yielding investment securities book (~33% of assets) and NIM compression due to the competitive deposit market environment causing headwinds to funding costs. Given the company's concentration in time deposits (16% of total deposits) and utilization of wholesale funding sources, funding costs have repriced higher at a faster rate than earning asset yields resulting in ~43 bps of NIM compression since 4Q21. As such, ANB's total funding costs (2.88% at 1Q25) have been negatively impacted by its growth in noncore funding (15% of total funding) to support loan growth as deposit balances have been stable excluding seasonality. However, the ratings are supported by the company's tenured senior management, lower risk earning asset base and a durable branch-based deposit franchise which reflects a lower interest rate sensitivity (1.70% total costs of deposits as of 1Q25), which is aided by noninterest bearing deposits accounting for 35% of the total deposit mix. Moreover, more recently, given the elevated exposure to C&D lending, pricing power in legacy markets and increased loan growth increasing the loans to earning assets ratio (58% in 1Q25), ANB has seen improvements in its margin, expanding 41 bps since, what we believe, was the company's trough at 2.13% at 3Q24. Additionally, ANB has more recently maintained capital levels (2.5% TCE and 9.8% CET1 at 1Q25) well below peer averages due to the large AOCL associated with the aforementioned investment securities portfolio and the increase in risk weighted density - though we note is well contained at 72% at 1Q25 - as the company remixes its earning assets into higher yielding loans to boost the NIM. Given the company's weakened earnings power, internal capital rebuild has been limited, and should a more challenging credit environment arise, lower aggregate loss absorbing capacity – loan loss reserves plus core capital – would provide less of a buffer against potentially rising credit costs. That said, the capital profile is somewhat supported by a solid level of risk-based capital taken in the context of its overall risk profile and strong reserve levels attributable to the company's conservative underwriting. M&A has been a source of growth over the years allowing the company to expand into adjacent markets, though we do not anticipate any potential transactions in the medium term, given the company's current earnings position and the impact a transaction would have on the company's capital base. Rating Sensitivities A revision to a Stable Outlook would require improvement in the company's earnings profile, with earnings that track near 1% ROA and a rebuild of its capital ratios to be more consistent with rated peers, including CET1 near 11%, while maintaining solid credit quality with minimal loss content over time. Conversely, given the Negative Outlook, a rating downgrade is possible in the near to medium term, which could transpire from failure to return to a peer like earnings profile or unexpected deterioration in asset quality further weakening the bank's earnings profile, further erosion in regulatory capital management, or inability to manage the CET1 ratio near 11% and a TCE ratio above 3%. Moreover, the ratings could be negatively impacted if the company begins to take outsized risk in terms of loan underwriting to grow loans. To access ratings and relevant documents, click here. Methodologies Financial Institutions: Bank & Bank Holding Company Global Rating Methodology ESG Global Rating Methodology Disclosures A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at About KBRA Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan's Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S. Doc ID: 1009370 View source version on Contacts Analytical Contacts Hunter Chadwick, Senior Analyst (Lead Analyst)+1 Brian Ropp, Managing Director+1 Ashley Phillips, Managing Director (Rating Committee Chair)+1 Business Development Contact Justin Fuller, Managing Director+1 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
16-05-2025
- Business
- Business Wire
KBRA Affirms Ratings for The ANB Corporation
NEW YORK--(BUSINESS WIRE)--KBRA affirms the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Terrell, Texas-based The ANB Corporation ('the company' or 'ANB'). Additionally, KBRA affirms the deposit and senior unsecured debt ratings of BBB+, the subordinated debt rating of BBB, and the short-term deposit and debt ratings of K2 for the lead subsidiary, The American National Bank of Texas ("the bank"). The Outlook for all long-term ratings is Negative. Key Credit Considerations The ratings remain supported by the company's credit quality that has tracked above peers; a trend of asset quality outperformance that we expect to continue. Although partially attributable to the benign credit environment, the company's favorable loss history is reflective of disciplined underwriting practices, solid borrower credit profiles, and robust economies of operation within the Dallas-Forth Worth, Texas MSA. We acknowledge that ANB exhibits some geographic concentration risk, with operations largely based in Texas—typically, a higher-beta market. Moreover, despite a slightly elevated C&D lending exposure, when compared to similarly rated peers (14% of total loans at 1Q25), we positively view the reduction in exposure in recent years (80% of total risk-based capital as of 1Q25). Additionally, despite the moderately elevated C&D concentration, overall investor CRE exposure remains well managed at 230% of total risk-based capital. With regard to 'riskier' loan sectors such as office, hotel, and healthcare and social assistance, the company's exposure is minimal and we take comfort in the disciplined underwriting standards, the granular nature of the portfolio, and its focus on suburban markets, which helps mitigate associated risks. Moreover, KBRA views positively the company's strong track record in terms of credit quality given historically low levels of NPAs and minimal loss content, in addition to loan loss reserves of 1.21% of total loans at 1Q25, covering NPAs by 134%. The maintenance of the Negative Outlook is largely predicated on the company's weakened earnings profile due to a concentration of longer term, low-yielding investment securities book (~33% of assets) and NIM compression due to the competitive deposit market environment causing headwinds to funding costs. Given the company's concentration in time deposits (16% of total deposits) and utilization of wholesale funding sources, funding costs have repriced higher at a faster rate than earning asset yields resulting in ~43 bps of NIM compression since 4Q21. As such, ANB's total funding costs (2.88% at 1Q25) have been negatively impacted by its growth in noncore funding (15% of total funding) to support loan growth as deposit balances have been stable excluding seasonality. However, the ratings are supported by the company's tenured senior management, lower risk earning asset base and a durable branch-based deposit franchise which reflects a lower interest rate sensitivity (1.70% total costs of deposits as of 1Q25), which is aided by noninterest bearing deposits accounting for 35% of the total deposit mix. Moreover, more recently, given the elevated exposure to C&D lending, pricing power in legacy markets and increased loan growth increasing the loans to earning assets ratio (58% in 1Q25), ANB has seen improvements in its margin, expanding 41 bps since, what we believe, was the company's trough at 2.13% at 3Q24. Additionally, ANB has more recently maintained capital levels (2.5% TCE and 9.8% CET1 at 1Q25) well below peer averages due to the large AOCL associated with the aforementioned investment securities portfolio and the increase in risk weighted density - though we note is well contained at 72% at 1Q25 - as the company remixes its earning assets into higher yielding loans to boost the NIM. Given the company's weakened earnings power, internal capital rebuild has been limited, and should a more challenging credit environment arise, lower aggregate loss absorbing capacity – loan loss reserves plus core capital – would provide less of a buffer against potentially rising credit costs. That said, the capital profile is somewhat supported by a solid level of risk-based capital taken in the context of its overall risk profile and strong reserve levels attributable to the company's conservative underwriting. M&A has been a source of growth over the years allowing the company to expand into adjacent markets, though we do not anticipate any potential transactions in the medium term, given the company's current earnings position and the impact a transaction would have on the company's capital base. Rating Sensitivities A revision to a Stable Outlook would require improvement in the company's earnings profile, with earnings that track near 1% ROA and a rebuild of its capital ratios to be more consistent with rated peers, including CET1 near 11%, while maintaining solid credit quality with minimal loss content over time. Conversely, given the Negative Outlook, a rating downgrade is possible in the near to medium term, which could transpire from failure to return to a peer like earnings profile or unexpected deterioration in asset quality further weakening the bank's earnings profile, further erosion in regulatory capital management, or inability to manage the CET1 ratio near 11% and a TCE ratio above 3%. Moreover, the ratings could be negatively impacted if the company begins to take outsized risk in terms of loan underwriting to grow loans. To access ratings and relevant documents, click here. Methodologies Disclosures A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at About KBRA Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan's Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S. Doc ID: 1009370
Web Release
08-05-2025
- Entertainment
- Web Release
Give Your Child a Chance of a Lifetime at The Arenacross World Tour Finals
Entertainment Web Release Selection By Editor_wr On May 8, 2025 Calling all kids aged between five to seven who love all things two wheels! The Arenacross World Tour presented by PKE is inviting young thrill-seekers to participate in My First Race Abu Dhabi – a once-in-a-lifetime opportunity to race in front of a roaring crowd at the Arenacross World Tour Finals on Saturday, 5th July at Etihad Arena. This thrilling new campaign is designed to give children ages 5-7 years old the chance to experience their very first Arenacross race in front of a live stadium crowd and international broadcast audience. Created especially for young riders who simply love being on two wheels – whether it's on a balance bike, BMX, scooter, or mini moto – My First Race Abu Dhabi offers selected participants the chance to line up on the same dirt track as global motocross superstars, riding under the lights and experiencing the action of a full-scale Arenacross show. Promising to create a powerful memory for young fans and their families alike, c hildren chosen for My First Race Abu Dhabi will receive a fully personalised Arenacross race kit, take part in an exclusive training, exciting media day, and enjoy their own podium moment as they become part of Arenacross history. And the best part? Every child who applies will receive a complimentary ticket to the Arenacross World Tour Finals, whether selected to take part or not, making sure the excitement is shared with all who step forward. All children must be accompanied by a fully paying adult. My First Race Abu Dhabi is made possible thanks to the support from ANB Motorsports, who are providing the bikes for young riders. 'Supporting Arenacross and powering the 'My First Race' in Abu Dhabi is an incredible opportunity for us to inspire the next generation of motocross riders in the UAE,' said Michael Grove, General Manager at ANB. 'There's a perfect synergy between Arenacross and what we stand for at ANB—introducing kids to the thrill of two wheels and creating moments that will fuel a lifelong passion for the sport. Watching these young riders compete under the lights, on the same track as their heroes, will be something truly special. It's going to be an unforgettable night—an epic show for the whole family, and we can't wait to be part of it.' The Arenacross World Tour has seen the fastest and most fearless indoor motocross athletes compete across Europe in a high-stakes race to the World Finals in Abu Dhabi. Delivering an unmissable three-hour live spectacle, the finals will combine competitive indoor motocross and freestyle tricks with flames, pyrotechnics, lasers and a heart-pounding soundtrack inside the state-of-the-art Etihad Arena. Entries for My First Race Abu Dhabi are now open. Register here before the 22nd of May to give your child the chance to start their Arenacross journey in unforgettable style. Tickets for the Arenacross World Tour Finals are available now at and with prices starting at AED 95 and group packages available. Give Your Child a Chance of a Lifetime at The Arenacross World Tour Finals Comments are closed.
Zawya
28-04-2025
- Business
- Zawya
Saudi: ANB's net profits up 5.5% in Q1-25
Riyadh – Arab National Bank (ANB) posted net profits amounting to SAR 1.30 billion in the first quarter (Q1) of 2025, an annual growth of 5.50% from SAR 1.23 billion. Earnings per share (EPS) stood at SAR 0.65 as of 31 March 2025, up year-on-year (YoY) from SAR 0.62, according to the financial results. Assets hiked by 13.64% YoY to SAR 264.65 billion in Q1-25 from SAR 232.88 billion, while the investments grew by 8.16% YoY to SAR 52.31 billion from SAR 48.36 billion. The clients' deposits hit SAR 195.61 billion in Q1-25, higher by 12.07% than SAR 174.54 billion in the first three months (3M) of 2024. Quarterly, the Q1-25 net profits rose by 3.73% from the SAR 1.25 billion generated in Q4-24. At the end of 2024, the lender's profits enlarged by 21.98% YoY to SAR 4.96 billion from SAR 4.07 billion. Source: Mubasher
Zawya
03-04-2025
- Business
- Zawya
SHL Finance renews $509mln Sharia-compliant deal with Saudi's ANB
Riyadh – SHL Finance Company has renewed its SAR 1.91 billion Sharia-compliant credit facilities agreement with Arab National Bank (ANB) for five years, according to a bourse disclosure. The funding, which was obtained on 23 March 2025, aims to support SHL Finance's expansion strategy and boost sales volume, aligning with the company's long-term growth vision. The facilities agreement is secured by a promissory note for the full amount of the funding, in addition to an assignment of receivables covering 105% of the outstanding balance of the facilities. It is worth noting that in 2024, SHL Finance reported a 1,040.50% annual jump in net profit after Zakat and income tax to SAR 26.52 million from SAR 2.32 million. On the other hand, ANB recorded a net profit of SAR 4.96 billion in 2024, reflecting a 21.98% year-on-year (YoY) increase from SAR 4.07 billion. Source: Mubasher
