Category: College Savings

Next bank success

Nexbank is a banking institution that is based in Dallas, Texas. The firm financial deals with the provision of commercial banking services, mortgages and also banks for institutions. Nexbank was founded by James Dondero in 1922. At the time of its creation, the bank was called 2515 McKinney Avenue. The founder created the bank with the aim of making profits through the provision of the basic banking services. Nexbank has rapidly grown over the years, and it now has over 100 employees. According to their latest financial report, the bank had a total of about $6.4 billion. This is an enormous figure considering that the bank was started as a small company by an individual. They have a team of expert executive workers who are responsible for ensuring that the company’s plans are effectively delivered. The executives also ensure that clients are served with the utmost degree of professionalism.

On August 2016, Nexbank announced that it had managed to raise $24million common equity capital. The bank intends to use the generated funds to cater for their general corporate expenses. The president of the institution, Mr. John Holt was quick to thank the company’s shareholders for their concerted efforts in helping to raise funds to run the institution. The CEO revealed that these funds would be used to further advance the development projects that the company had initiated. In the first six months of 2016, the company made a net income of $38.1 million. The total assets owned by the company as at the time of reporting was slightly above $3.5 billion. This was recommendable since the new asset base bettered the one recorded in the previous year by 61 percent. Nexbank also recorded deposits totaling to $2.6billion. This was a 49 percent increase from the previous year’s deposits. Although they made a loss in the second quarter, they still managed to maintain their tier 1 leverage status.