Towards the end of 2015, NexBank SSB headquartered in Dallas officially announced that it had bought New Jersey-based College Savings Bank of Princeton. The New Jersey bank is a heavyweight when it comes to college-savings programs commonly known as a 529 plan. NexBank did not release any terms of the deal in its press release.
College Savings Bank will retain rights over its name and branding. However, it will operate as a subsidiary of NexBank. According to NexBank, College Savings Bank has specialized in college saving since its inception in 1987. In fact, the New Jersey bank manages prestigious programs including Arizona Family College Savings Program and Indiana CollegeChoice CD 529 Savings Plan.
NexBank SSB is a section of NexBank Capital Inc., a renowned financial services firm that delivers financial solutions to its ever-growing clients. The acquisition of College Savings Bank is part of NexBank growth plan. It is also a strategy for portfolio diversification.
An overview on NexBank Capital
NexBank Capital, Inc. is an established financial services firm that operates in three lines of businesses: Mortgage banking, investment banking, and commercial banking. It offers personalized banking and financial services majorly to premier financial institutions, corporate clients, corporates, and prominent individuals nationwide. The firm leverages commitment to its customers and unparalleled leadership to provide exceptional services at any opportunity. NexBank allows its client to easily access custom-tailored and revolutionary solutions provided by specialists who have vast financial experience and an incredible track of the record.
NexBank started to deliver investment-banking solutions back in 1922. Since then, the company has focused on delivering high-performance solutions that suit its customers’ intricate and specialized needs. NexBank’s executive management team consists of seasoned investors and shrewd entrepreneurs who focus on customizing leading financial solutions. With James Dondero, CEO and Co-founder of Highland Capital Management at the top of the leadership team, NexBank’s directors deliver an unrivaled management and leadership expertise.