NexBank SSB is part of NexBank Capital, and is a regional bank that has assets of $3.5 billion and a charter that dates all the way back to 1922. The bank provides mortgage banking, commercial banking, as well as institutional services in order to help their clients meet their financial needs. The clients that employ their services are financial institutions, institutional clients, and corporations all across the country.
Besides their operations into the world of finance, NexBank is also known for support of Dallas Neighborhood Homes. Dallas Neighborhood Homes is a non-profit mortgage servicing provider who works in partnership with Dallas Area Habitat for Humanity. The non-profit organization offers the Affordable Housing Loan Program to the families in southern Dallas, with the goal being to provide 100 or more loans every year for low-income residents. NexBank SSB provided up to $50 million in loans in order to support the program, the proceeds being used to lend to homebuyers with low-income and to offer counseling in order to prepare individuals for home ownership. Besides providing mortgage-lending capital, NexBank SSB also took on the responsibility of paying all title fees for closing, and up to $2,000 in closing costs per loan.
The Executive Vice President and Chief Operating Officer of NexBank Capital, Matt Siekielski state that they are proud to partner with Dallas Area Habitat For Humanity and with Dallas Neighborhood Homes, and that both organization have a strong record when it comes to helping lower-income families secure homes within the North Texas community.
NexBank SSB also made headlines when they announced the purchase of New Jersey’s College Savings Bank, which specializes in 529 collegesaving programs. While the terms of the transaction were not disclosed, the organization will keep both its name and branding, and will maintain current operations as NexBank’s division, according to John Holt, the President of NexBank. Matt Siekielski noted that the purchase is advantageous for both parties involved and that it is an important move in NexBank’s overall funding strategy. According to Siekielski, the acquisition will allow NexBank to better serve the broad needs of the bank’s clients and to help families save for college.