Moody’s: MyState Bank Baa1

Moody's Investors Service said it assigned to MyState Bank Ltd. long-term/short-term issuer and bank deposits ratings of Baa1/P-2; a baseline credit assessment and an adjusted BCA of baa1; and long-term/short-term counterparty risk assessments of A3(cr)/P-2(cr).

The outlook is stable.

Moody’s said the Baa1 rating is supported by MyState’s very strong asset quality and conservative underwriting. However, the rating is constrained by the bank's geographic concentration, sizeable exposure to wholesale funding and ongoing profitability pressures.

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