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Kroll affirms Durant Bancorp debt ratings

Kroll Bond Rating Agency on March 2 affirmed Durant Bancorp Inc.'s senior unsecured debt rating of BBB, subordinated debt rating of BBB- and short-term debt rating of K3.

It also affirmed subsidiary First United Bank and Trust Co.'s deposit and senior unsecured debt ratings of BBB+, subordinated debt rating of BBB and short-term deposit and debt ratings of K2.

The ratings reflect the Durant, Okla.-based company's enterprise risk management framework and its opportunities for both metropolitan and rural expansion, among other factors. The ratings are constrained, however, by its low tangible common equity ratio and its lending portfolio being "heavily collateralized" by construction and development and investor commercial real estate loans.

The outlook on all long-term ratings is "stable."