In late 2015 Nexbank,a leading regional bank headquartered in the beautiful city of Dallas, TX, took a huge leap of faith and acquired College Savings Bank of Princeton, New Jersey.
Being that College Savings Bank specializes in 529 college saving programs, this acquisition will give Nexbank the ability to better serve their current clientele by making it easier for families to save money for college.
By working with College Savings Bank, Nexbank clients will now be able to take advantage of the tax benefits that come as a result of investing in a 529 college savings plan.
College Savings Bank will not undergo any re-branding. Instead the company will act as a division of Nexbank and continue to maintain is name and current operations. They will continue to provide multiple FDIC-insured CD investment options and high-yield savings accounts as well.
According to Nexbank Capital President and CEO John Holt, acquiring College Savings Bank is a very important move because it helps with the overall funding strategy. It is therefore a win win for both companies.
Executive Vice President and Chief Operating Officer Matt Siekielski said the acquisition is a “unique opportunity to expand our platform responsibly and position us for growth in the short- and long-term.”
To learn more about Nexbank and how they are helping families save for college, visit them online at www.NexBank.com