NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has assigned a senior unsecured debt rating of BBB, subordinated debt rating of BBB-, and a short-term debt rating of K3 for John Marshall Bancorp, Inc. (“JMSB”), a bank holding company headquartered in Reston, Virginia. In addition, KBRA has assigned senior unsecured debt and deposit ratings of BBB+, a subordinated debt rating of BBB, and short-term debt and deposit ratings of K2 for the subsidiary bank, John Marshall Bank (“John Marshall”). The Outlook on all long-term ratings is Stable.
The ratings are supported by John Marshall’s strong historical asset quality and capital ratios, as well as consistent performance in efficiency. Moreover, John Marshall’s experienced management team and defined strategy further support the ratings. The ratings are primarily constrained by JMSB’s high concentrations in both commercial real estate loans and construction & development loans, limited revenue streams, and reliance on noncore funding. The Stable Outlook for long-term ratings reflects an expectation for JMSB’s resilience in earnings and asset quality, as well as KBRA’s favorable view on the executive leadership team of JMSB and the consistent strategy the Bank employs.
The ratings are based on KBRA’s Global Bank and Bank Holding Company Rating Methodology published on February 19, 2016.
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