Nexbank is a financial institution that offers banking products and services to individuals, corporates and institutions. The firm serves its customers through three core businesses namely Mortgage Banking, Commercial Banking and Investment Banking. Nexbank was founded in 1922 and has its headquarters in Dallas, Texas with John Holt as the company’s current CEO and President. Nexbank is one of the best performing banks, with more than $6 billion in assets.
On 30th June 2017, Nexbank successfully concluded its $20 million common equity capital raise. This increased the debt and equity of the company to $220 million since 2016. The additional capital will support the general cooperate activities of the firm and accelerate the growth of the firm. The continued support from Nexbank’s shareholders is a clear indication that they have faith in the bank’s financial position and business strategy.
In 2015, Nexbank acquired College Savings Bank of Princeton, New Jersey, a bank that specializes in 529 college savings programs. College Savings Bank operates under its name and branding, but as a division of Nexbank. The acquisition enabled Nexbank to serve the wider needs of its clients by helping families save for college through broader channels and more options.
Nexbank is actively involved in community development by offering financial training to Dallas residents. During the 2016-2017 school year, its financial literacy programs impacted 1,600 Dallas County students and it plans to expand the digital learning programs to new classes in the 2017-2018 school year. Nexbank offers free instructor-led and digital learning courses to 12 public schools and the same to senior-level students at Molina High School. Additionally, the bank offers internship opportunities to the senior students and organizes a career day where they tour Nexbank corporate office as well as Federal Reserve Bank of Dallas. The students hold a Q&A session with senior Nexbank associates where they get to learn more about the financial industry and the career opportunities available.
Nexbank is certainly on an upward trend. It was named as one of the best U.S community banks of 2016 with $1 to $10 billion dollars in assets, ranking at number 10.