The Dallas-based bank, Nexbank SSB announced in December 2015 that it had acquired College Savings Bank located in Princeton, New Jersey with no specific terms of the deal released. Nexbank SSB is a member of Nexbank Capital Inc that offers its clients diversified financial services across the US. College Savings Bank just like its name suggests is a banking institution that deals with 529 plan college-savings programs.
Despite the acquisition, the Nexbank directors and executives don’t want to College Savings Bank to lose its identity and customers. The aim is to maintain the integrity of the Princeton-based bank to continue serving its niche clients. Mr. John Holt, the President, and CEO of Nexbank Capital Inc. commented about the acquisition claiming that College Savings Bank would keep its name and branding as well as maintain its current day to day operations as a division of Nexbank Capital Inc.
Nexbank acknowledged that College Savings Bank was built on the foundation of college savings since its formation nearly 30 years ago in 1987. Its executives and directors understand that college savings was the basis of their growth and success and therefore have minimum plans to alter it. College Savings Bank is the fund manager for college savings plans for both the Arizona Family College and Indiana College Choice.
Nexbank Capital Inc. is a banking service provider that offers its customers three financial services that include mortgages, investment banking, and commercial banking. Nexbank excels at providing personalized banking and financial services to individuals, high-net individuals, businesses, corporations, and institutions.
As of June 30, 2016, the banking institution had over $3.5 billion in assets. The executive management team is led by Chairman James Dondero, who is also a Co-Founder and President of Highland Capital. It combines seasoned expertise and strong focus in serving clients to ensure they get the best financial services. The bank’s management and directors are all committed to bringing the company success.