Acquisition of College Savings Bank

Acquisition of College Savings Bank

NexBank recently contributed a sum of $100,000 to a Dallas women’s foundation dedicated to promoting women’s economic security. The money was used to finance the group’s 32nd anniversary luncheon held in Dallas. The group is one of Dallas most renowned champions of women’s development and a frontline campaigner for positive economic and social change for women and girls.

This is not the first time NexBank is involved in projects and courses dedicated to progress. The bank has been at the center of several other initiatives since its inception in 1922. It is worth an estimated $6.4 billion and has been offering services such as mortgage banking, commercial banking and institutional banking to its largely Dallas-based clientele.

One of its most notable developments from a business point of view was the acquisition of the College Savings Bank back in 2015. Some of the terms of the agreement were made public by the President and CEO of NexBank who also revealed that College Savings would only register as a division of NexBank and will keep its name and branding as well as stay in control of ongoing operations. He described the acquisition as of importance to both parties and clients of both institutions.

The main motive behind the decision to make College Savings Bank part of the company was to augment NexBank’s facility to serve its customers and keep families prepared for college expenses. College Savings Bank has primarily dealt with college savings services throughout its 30 years of operation. The new NexBank subsidiary has served as a support system to parents with children that are supposed to join college. By acquiring College Savings Bank, NexBank is ensuring parents who are clients of the bank get all their lending services in one place – a move that not only enhances time-effectiveness but also ensures clients deal with people they know and trust.

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