Exhibit 99.1
 
Nexity Financial Announces Outstanding Second Quarter Performance; Loans Grow to $629.0 Million and Diluted Net Income Per Share is $0.13
 
Birmingham, AL, July 30, 2007 (Business Wire) - Nexity Financial Corporation (NASDAQ: NXTY)
 
Second Quarter 2007 Highlights:
 
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Net income per share of $0.13, down from $0.17 last year primarily due to start-up expenses related to new business lines
 
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Total assets of $923.3 million, up 10.7% from last year’s $834.0 million
 
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Total loans of $629.0 million, up 17.3% from last year and 30.1% annualized from the 1st Quarter
 
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Total deposits of $693.1 million, up 10.3% from last year’s $628.6 million
 
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Strong credit quality with YTD annualized net charge-offs of 0.03% and nonperforming assets of 0.53% of total assets
 
Nexity Financial Corporation (NASDAQ: NXTY) today reported second quarter operating income of $1.14 million, or $0.13 per diluted share compared with $1.41 million, or $0.16 per diluted share for the same period in 2006. The decrease in earnings was primarily related to the costs associated with expansion of the investment division and start-up of our wealth management business. The after-tax cost of these initiatives was approximately $325,000, or $0.037 per diluted share which was right in line with our expectation. Operating income, a non-GAAP financial measure, is net income less after tax non-recurring items and is more indicative of financial performance because it focuses on core earnings. The non-recurring items in each period presented are net gains realized on the sale of investment securities. Net income for the second quarter was $1.14 million, or $0.13 per diluted share compared with $1.56 million, or $0.17 per diluted share for the same period in 2006.
 
 “Loan production and growth in loans outstanding was very strong during the second quarter and was sufficient to overcome a high level of construction and commercial real estate loan payoffs,” said Greg Lee, Chairman and CEO of Nexity Financial Corporation. “Our expansion in the investment division developed nicely during the second quarter and we expect continued progress and increasing revenues during the second half of 2007. We are committed to continuing to invest in people, new markets, and new products and services to provide superior correspondent banking services to community banks.”
 
Return on average assets and return on average equity were 0.51% and 6.91%, respectively, for the second quarter of 2007 compared with 0.75% and 9.62% during the first quarter in 2007 and 0.78% and 10.26% for the second quarter of 2006.
 
For the six months ended June 30, 2007, operating income was $2.71 million or $0.31 per diluted share compared to $2.72 million or $0.30 per diluted share during the same period in 2006. For the six months ended June 30, 2007, Nexity’s net income was $2.71 million or $0.31 per diluted share compared with $2.87 million, or $0.31 per diluted share for the same period in 2006.
 

The following information was filed by Nexity Financial Corp (NXTYQ) on Monday, July 30, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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