A Look At The Popular Texan Bank

NexBank Capital, Inc. is a company in the financial industry that offers commercial banking, mortgage banking, and institutional services. NexBank was founded in 1922 in Dallas, Texas, and has clients across the United States. The company has grown to have $4.6 billion in assets and counts as its clients small, medium, and large sized companies, real estate investors, as well as financial and institutional organizations.

The head of NexBank is John Holt who serves as the President and Chief Executive Officer. Since he joined NexBank in 2011 the company has experienced strong growth and performance. Holt also serves a member of the Board of Directors for the Texas Bankers Association. He additionally serves this association as a member of its Investment Committee as well as the Audit and Finance Committee. Another executive at NexBank, Senior Vice President of National Warehouse Lending Mary Pirrello, is the President of the Texas Mortgage Bankers Association (TMBA). She has been involved with TMBA since 2007 where she has served roles on their board and committees.

NexBank grew substantially in 2015 when it acquired College Savings Bank. This bank, located in Princeton, New Jersey, specializes in 529 college-savings plans. In a statement about the purchase, John Holt said that College Savings Bank would retain its name, branding, and location. College Savings Bank manages the 529 plans for both Arizona and Indiana.

In order to fund further growth, in August 2016 NexBank raised $24 million through a common equity capital raise. Holt released a statement that said shareholders were positive in their comments about the raise of capital. He went on to say that the money raised would help with continued growth and opportunities.

Reflective of the strong growth of NexBank, it had reported a net income of $38.1 million for the first half of 2016. The company’s return on average equity was 37.6%. The total assets of the company as of June 2016 was $3.5 billion and total deposits that it held was $2.6 billion.