Nexbank is a leading financial bank based in Dallas, Texas. The bank was founded in the year 1922 and is renowned for successfully and satisfactorily meeting their clients’ financial needs regarding Mortgage Banking, Commercial Banking, and institutional services. The institution provides its outstanding services to corporations, other financial firms as well as individual clients.
In June 2016, the financial institution declared raising a common equity capital of $24 million. According to NexBank’s Chief Executive Officer and President, John Holt, he stated that they were pleased with the capital raise from their shareholders and the proceeds will be used to spearhead the company’s growth.
During the first half of 2016, NexBank Capital reported a total of $38.1 million in net income. Its ROAE stood at 37.6 percent. By June 2016, the total assets recorded a yearly increase of 61 percent by exceeding $3.5 billion. Also, a yearly increase of 49 percent in total deposits was recorded as the total deposits closed at $2.6 billion.
At the end of the second quarter, Nexbank SSB, a regional-based bank stated having a total of $2.5 billion in gross loans. The figure makes up 72 percent of the Bank’s assets. According to Matt Siekielski, NexBank’s Capital Chief Operating Officer and Executive V.P, the huge capital raise will enable the business to grow and soar high in the financial market.
On December 1, 2015, NexBank made highlights after acquiring College Savings Bank of Princeton, based in New Jersey. The Savings Bank’s major was handling saving programs for about 529 colleges. According to NexBank’s President, John Holt, College Savings Bank would retain its name and continue operation as part of Nexbank. He continues to say that the acquisition is a win-win for both parties. Matt Siekielski, NexBank’s Capital Chief Operating Officer, and Executive V.P revealed that the move would create an opportunity for families to save up for college.