QUARTERLY FINANCIAL RESULTS

President’s Update: End of Year Review

 

Dear Lexicon Bancorp Shareholders,

 

Reflecting on 2025, we are proud to celebrate many significant milestones. This year marked our 6th anniversary, highlighting our remarkable progress since our founding.

Financially, we achieved substantial growth in net income, loans, and deposits while maintaining strong liquidity reserves and capital levels, which produced increases in our returns and book value per share. The following unaudited highlights summarize our operating results and financial position for 2025 compared to 2024:

  • Consolidated Net Income for 2025 was $4.3 million, compared to $2.2 million for 2024, up 95%.
    • Returns on Average Assets and Shareholders’ Equity were 1.08% and 14%, respectively, for 2025,  above 2024 returns of 0.79% and 8%, respectively.
  • Consolidated Total Assets were $433 million at December 31, 2025, compared to $298 million at December 31, 2024, up 45%.
    • Loans were $197 million, compared to $171 million, up 14%. The allowance for credit losses totaled $3.0 million, or 1.55% of total loans, at December 31, 2025.
    • Deposits were $388 million, compared to $256 million, up 53%.
    • Consolidated Shareholders’ Equity was $34 million, compared to $28.6 million last year, reflecting a book value per share of $13.34, compared to $11.21 last year, up 19%
    • Lexicon Bank’s Tier 1 Leverage Ratio was 9.3% at December 31, 2025, above the required regulatory level of 5.0%.
    • On-balance sheet liquidity was $233 million, consisting of cash, cash equivalents, and investment securities, representing 60% of total deposits.

We are executing on our strategic plan through the following key  initiatives:

  • SBA Lending Division 🔗 - Lexicon invested in a specialized Nationwide SBA lending team led by Tony Vahsholtz, Senior Vice President and Director of the SBA Division, dedicated to helping our small and mid-sized business clients grow. This initiative enhances our ability to deliver tailored SBA financing solutions to businesses, deepen client relationships, and support sustainable, long-term growth.
  • Commercial Lending Expansion 🔗 - We also invested in expanding our commercial banking platform by strengthening Commercial Lending and Treasury Management deposit services, under the leadership of Anna Cavalieri, Senior Vice President and Market Executive. This initiative supports scalable growth, enhances client service, and deepens relationships with our commercial clients.
  • Capital - In September 2025, we completed a $7.5 million borrowing under a third-party financing arrangement, further strengthening our capital base and positioning the Bank to strategically deploy resources, expand lending capacity, and continue delivering value to our shareholders.
  • Community Sponsorships - We proudly continued our partnerships with the Las Vegas Desert Dogs professional lacrosse team and the Henderson Silver Knights professional hockey team, further strengthening our brand presence and commitment in the Henderson market. Midway through our second year, these sponsorships are delivering meaningful growth in new client relationships and business activity, fueled by client engagement opportunities at Lee’s Family Forum and enhanced brand visibility throughout Henderson and the larger Southern Nevada community. These ongoing partnerships demonstrate our long-term commitment and investment in community-focused organizations.

Our growth underscores our strength and resilience in a dynamic, changing environment, and we are well-positioned to continue delivering value to our shareholders as well as meeting the needs of our current and future clients and community.

Lexicon has earned a 5-Star Superior rating from BauerFinancial for 16 consecutive quarters, reflecting consistent financial strength and stability across changing economic conditions. This sustained recognition places Lexicon among a select group of banks nationwide that have consistently demonstrated sound capital levels, strong asset quality, and prudent risk management.

In December, we were recognized for the fifth consecutive year in the Las Vegas Review-Journal’s Best of Las Vegas Awards 🔗, earning gold honors for Best Bank, Best Commercial Banking, Best Commercial Lending, Best Finance Customer Service, and adding Best Checking Account in 2025. These recognitions reflect the trust our community places in us and our ongoing commitment to supporting businesses of all sizes across Southern Nevada.

Lexicon’s commitment to the community extends well beyond recognition. Since launching our Community Spotlight program in 2020, we have highlighted 63 local nonprofit organizations, helping amplify the important work they do across Southern Nevada. This dedication to community involvement was further recognized when Lexicon Bank received the Trailblazer Award at the 14th Annual Philanthropy Leaders Summit, honoring our leadership and impact in corporate responsibility. Together, these efforts reflect the meaningful work we do beyond banking.

Our reputation as the premier bank for businesses of all sizes across Southern Nevada continued to strengthen this year, driven by an expanded community presence, strategic initiatives, industry recognition, and sustained financial performance.

I am deeply appreciative of our exceptional team, whose commitment to delivering personalized, high-touch service remains a cornerstone of our success, and of our shareholders, whose continued confidence enables our growth.

Save The Date: We look forward to connecting with you at the 2026 Lexicon Bancorp Annual Shareholder Meeting on Thursday, May 7, 2026, at 6:30 p.m. in the Tivoli Village Piazza Pavilion. More information about the event will be forthcoming.

Thank you for being an integral part of our journey. Together, we reaffirm our position as the “Best Bank for Business” in Southern Nevada.

 

All the best,

Stacy Watkins
President & CEO
Lexicon Bancorp | Lexicon Bank

 

 

ABOUT LEXICON BANCORP

Lexicon Bancorp was established in July 2023 to become the bank holding company for Lexicon Bank.  Founded in 2019, Lexicon Bank is Southern Nevada's community-focused banking partner. Lexicon provides personal, comprehensive banking services to business and individual banking clients, emphasizing creating and nurturing long-term relationships. By providing personalized services to all clients, Lexicon helps to foster Southern Nevada's economy and community—ultimately helping to grow and develop the region's local businesses. The Bank is redefining banking as it should be in Southern Nevada by creating a concierge-like experience for businesses, regardless of size. Lexicon Bank is located in Tivoli Village at 330 S. Rampart Blvd., Suite 150. The Bank is open from 9 A.M. to 5 P.M. Monday through Friday and 9 A.M. to 12 P.M. on Saturdays. Clients can contact us by phone at 702.780.7700 or online at lexiconbank.com. Follow us on Facebook, Instagram, LinkedIn, and X. Lexicon Bank is a member of the FDIC.

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