College Savings Bank of Princeton New Jersey was acquired by NexBank, a Dallas-based bank. College Savings is a New Jersey bank that specializes in more than 500 plan college-saving programs. College Savings Bank will, however, keep its branding and the name but it will maintain operations as a division of NexBank. College Savings Bank was founded in 1987, and it has concentrated on college savings since then. It is also a program manager for the Arizona Family College Savings Program Bank Plan and the Indiana College Choice CD 529 Savings Plan.
Nexbank is a part of NexBank Capital Inc. an expanded financial services organization. NexBank serves its customers through three core businesses – Mortgage Banking, Investment Banking, and Commercial Banking. They strive to deliver exceptional value at every opportunity through industry leadership and a commitment to their clients. Their mission is to provide their customers with unique access to sophisticated and tailored solutions delivered by professionals who are experienced and have a proven track of record success.
NexBank has a mission to provide high quality and performance solutions that meet their customers’ custom tailored and specialized needs. NexBank has its headquarters in Dallas, and it is the 16th largest bank in Texas, and it is the 266th largest bank in the United States. Their money market rates are two times the national average, and it is rated at an A health rating. The bank was established in 1934, and since then, it has served its clients and the whole of the banking community with a charter that dates back to 1922.
The acquisition of College Savings Bank has diversified the balance sheet of NexBank through an additional source of deposits. NexBank has an efficient and profitable platform that has continued to grow over the years. They have significantly increased their earnings every year and also improved their deposit and assets channels. They have also remained focused on their institutional client base and the development of their businesses in the United States.