Nexbank is a

privately-held A privately held company (or simply a private company) is a company whose shares and related rights or obligations are not offered for public subscription or publicly negotiated in the respective listed markets, but rather the company's stock is ...

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

, supervised by the

FDIC The Federal Deposit Insurance Corporation (FDIC) is one of two agencies that supply deposit insurance to depositors in American depository institutions, the other being the National Credit Union Administration, which regulates and insures credi ...

,"NexBank"
Basic Info, US Bank Locations. Retrieved November 30, 2022. that provides financial services in institutional banking,

commercial banking A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with cor ...

, and mortgage banking. It is headquartered in

Dallas, Texas Dallas () is the third largest city in Texas and the largest city in the Dallas–Fort Worth metroplex, the fourth-largest metropolitan area in the United States at 7.5 million people. It is the largest city in and seat of Dallas County w ...

, where it has three branches. Its parent is NexBank Capital, Inc., a

financial services Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, acco ...

company. As of 2022 NexBank had assets of almost $14 billon and was "the largest privately held bank in Texas.""About NexBank"
nexbank.com. Retrieved November 30, 2022.

History

The bank was founded in 1922 as Terrell Federal Savings and Loan Association, a

community bank A community bank is a depository institution that is typically locally owned and operated. Community banks tend to focus on the needs of the businesses and families where the bank holds branches and offices. Lending decisions are made by people w ...

located in

Terrell, Texas Terrell is a city in Kaufman County, Texas, United States. As of the 2020 census, the city population was 17,465. Terrell is located about east of Dallas. History Terrell developed as a railroad town, beginning in 1873 with construction here ...

, and became a

mutual savings bank A mutual savings bank is a financial institution chartered by a central or regional government, without capital stock, owned by its members who subscribe to a common fund. From this fund, claims, loans, etc., are paid. Profits after deductions a ...

in 1999, when it changed its name to Heritage Savings Bank, SSB."NexBank"
History, US Bank Locations. Retrieved November 30, 2022. It became a

stock In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...

savings bank A savings bank is a financial institution whose primary purpose is accepting savings account, savings deposits and paying interest on those deposits. History of banking, They originated in Europe during the 18th century with the aim of providi ...

in 2002 and shortened its name to Heritage Bank, SSB. The bank moved to Dallas in 2004, after it was acquired by partners in Highland Capital, and changed its name to NexBank, SSB, in 2005.Christine Perez (August 28, 2005)
"Banking on a new name, more space"
''

Dallas Business Journal American City Business Journals, Inc. (ACBJ) is an American newspaper publisher based in Charlotte, North Carolina. ACBJ publishes The Business Journals, which contains local business news for 44 markets in the United States, Hemmings Motor News ...

''. It acquired Princeton Savings Bank in Princeton, New Jersey, in 2015 and changed to a

commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with cor ...

in 2020, when it changed its name to NexBank.

References

{{reflist Banks based in Texas American companies established in 1922 Banks established in 1922 1922 establishments in Texas Companies based in Dallas