Category Archives: College Saving Bank

Diversifying through Partnerships

NexBank, a Dallas based art of NexBank Capital Inc., financial services company offers banking, mortgage, and investment services to corporations, institutions, and other financial services providers. NexBank has strong earnings, capital base, and liquidity profile. The current value of NexBank assets is 6.4 billion dollars.

The bank acquired College Savings Bank of Princeton, the bank that specialized in 529 plan for college and savings programs. The transaction allows College Savings Bank to run independently as a division of NexBank. College Saving Bank manages savings plans for the Indiana College Choice CD and the Arizona Family College.

Both banks are expected to benefit significantly from the transaction in terms of market share, business operation, growth, and product diversification. NexBank has established its name in general banking market in Dallas while College Saving bank has been in operation for the last thirty years in New Jersey providing unmatched savings solutions. The acquisition allows both banks to cater for diverse market needs while primarily providing excellent services. Families would now have their banking, savings and planning solutions under one roof. The deal also boosts NexBank’s future growth prospects in the long and short term.

In June 2016, NexBank Capital Inc. raised 24 million dollars equity capital to support general corporate purposes and growth and development. By the second quarter of 2016, NexBank Capital the average return on equity was 37.6% net incomes were 38.1 million dollars, and the total deposits grew by 34% to 3.5 billion dollars. The additional capital would further support the growth of their business functions.

NexBank has a diverse executive team that uses its combined expertise to offer excellent financial service that caters for the individual, corporate, and institutional customers. The financial services industry is robust, competitive and differentiated. Today, banks are using technology, customer service, and innovation to grow and diversify.