Combines Growth with Community Involvement

June 5, 2017

NexBank SSB has been a respected member of the Dallas business community for almost a century. This community bank has emerged in recent years as a growth-oriented and highly profitable firm. Originally chartered in 1922, it provides banking services to Dallas and the north Texas region. NexBank has continued a long tradition of support for the community.

NexBank’s financial position in mid-2016 was very positive. The company reported $3.5 billion in assets, which is a 61 percent gain over the same time the year before. Deposit rose 49 percent to $2.6 billion. Profits totaled $38.1 million. This represents a return on equity of 37.6 percent. In addition, NexBank recently completed raising $24 million in new capital to fund continued growth. NexBank SSB acquired the College Savings Bank of New Jersey in 2015 as part of its expansion efforts. CSB is a major provider of managed 529 college savings plans.

The bank is owned by NexBank Capital, Inc. The parent firm is a diversified financial services firm. It primarily serves the banking industry. NexBank Capital describes its core operation as being focused on three areas. These are investment banking, commercial banking and mortgage banking.

NexBank SSB is a strong supporter of the Dallas community. The firm recently joined with other area banks to help the families of five Dallas police officers who were killed in a mass shooting in July, 2016. NexBank donated money through the Assist the Officer Foundation. This organization is run by the Dallas Police Association and gives 100 percent of the money raised to families in need.

NexBank is also a sponsor of the Dallas area Habitat for Humanity organization. It has committed $50 million over a five year period to build affordable homes in the south Dallas area. The program is revitalizing this part of metropolitan Dallas by providing home ownership opportunities to families with limited incomes.

 

Leave a Reply

You must be logged in to post a comment.