Nexbank Continues Its Growth With Bank Purchase
The Dallas, Texas based Nexbank has been growing in importance across the U.S. for a number of years since President and CEO John Holt took personal control of the bank in 2011. The latest move by Nexbank will see the bank enter the arena of college savings with the purchase of a specialist institution based in Princeton, New Jersey; the College Savings Bank has been operating since 1987 and has focused largely on providing services revolving around the 529 college savings plans offered in partnership with state agencies from across the U.S.
The College Savings Bank has been at the forefront of many of the 529 plans offered by various state governments, including those offered by Arizona and Indiana who base their plans on the work of the New Jersey institution. The success of the College Savings Bank has attracted Nexbank to purchase the institution, but no details of the deal for the Princeton based bank have been released to the public. The success of College Saving Bank is reflected in a statement made by Nexbank CEO John Holt who stated no changes would be made to the current operation of the institution would initially be made when the bank becomes part of the Nexbank family.
Nexbank is a major part of the U.S. financial landscape and has seen John Holt lead the company on a major period of growth with the focus of the financial institution being based on the three areas of commercial, investment, and mortgage banking.
The Nexbank family of financial institutions has grown to develop into a series of different areas of success, which include around $3 billion in assets being managed. The charter of Nexbank also provides the opportunity for bank to provide personal savings and checking accounts to individuals from across the U.S.