Dallas based regional bank, Nexbank placed #8 in the nation of highest performing community bank, based on return on assets averaged and weighted over three years as of December 31, 2017. With a charter dating back to 1922 and assets of 8.4 billion, Nexbank is planted in its community by partnering alongside Dallas Neighborhood Homes and Dallas Habitat for Humanity to make a positive impact. These organizations help lower-income families buy reasonably priced houses in the North Texas area. North Texas has greatly reduced ownership rates in comparison to other cities in the nation. Homeownership enriches the value of families lives while boosting children’s chances for a successful future.
Nexbank has partnered with these organizations since 2016. The plan is to provide more than 100 loans annually for five years and no more than $50 million in backing to promote program expansion over the five-year course. Dallas Neighborhood Homes mission is loaning in the gaps of traditional mortgage lenders making home ownership affordable for the borrower. In addition to providing the mortgage-lending capital, Nexbank pays closing costs up to $2000 for the loan. Dallas Habitat for Humanity transforms families and revitalizes neighborhoods with thousands of volunteers working to break the poverty cycle. They provide potential homeowners counseling in home maintenance and finances.
In 2015, Nexbank purchased College Savings Bank of New Jersey. While each facility maintained their current name and branding, the acquisition offered both institutions the unique chance to increase their program dependably and position them for future growth. Adding to their spectrum of products offered, parents and families organizing their kids’ path for higher education will have expanded options. You can open accounts with as little as $25.00 per month.
While primarily focused as a savings institution, College Savings Bank offers multiple FDIC-insured CD investment options. They also offer high-yield savings account without assessing asset-management fees. The 529 plan, named after Internal revenue code Section 529, are designed to help families save for future higher education expenses while offering potential tax advantages. These family-oriented features round out nicely the financial options Nexbank can offer its clients.