In December of 2015, NexBank bought the New Jersey based bank. This bank had specialized in over 529 plan college-savings programs in New Jersey. NexBank will have full rights to the College Savings Bank and they will continue to run operations with their original name.
The College Savings Bank has been operational since 1987 and has offered many programs to help promote saving for college. The also run the Indiana College Choice CD 529 Savings Plan and the Arizona Family College Savings Program-Bank Plan. Their programs are compabilbe with any college in all 50 states in the country. They only require a $250 minimum to create an account.
Nexbank has been operational since 1922 from Dallas, Texas. Their prior name was Heritage Bank. They focus on the banking services commercial, mortgage, investment banking and are now recently expanding into college savings. They operate under the names NexBank Capital, Inc and NexBank SSB. Their companies assets have rapidly grown since 2012 from roughly $700 million to over $3.5 billion in 2016.
Nexbank SSB offers personal checking accounts, savings accounts, mortgages, and mobile banking for their individual clients. They also offer commercial checking accounts, savings accounts, treasury management and commercial lending services for business and corporate entities.