The need for college savings plans has never been more important than they are in the 21st century when college tuition costs continue to grow at alarming rates. One option that has been growing in popularity is the use of 529 plans offered at state levels across the U.S.; one of the top financial institutions providing college savings plans is the College Savings Bank of Princeton, New Jersey that works with state level agencies from across the U.S.
The College Savings Bank has recently been purchased by the Dallas, Texas based Nexbank that offers a range of financial services to its clients under the leadership of President and CEO John Holt. The growth of Nexbank now includes the purchase of College Savings Bank after the company agreed a deal to take control of this specialist in college savings plans. Details of the deal to purchase College Savings Bank have not been released by Nexbank, but John Holt has recently gone on record to state the branding and name of the Princeton, New Jersey based bank will not be changed following Nexbank’s decision to purchase the specialist financial institution.
Nexbank President and CEO John Holt took control in 2011 of the institution with a historic charter dating back to 1922 to create a period of financial growth and success across three key areas of focus. Nexbank has developed its work to take in commercial, mortgage, and investment banking options.
In 2016, Nexbank estimated it was currently handling more than $3 billion in assets for its clients after John Holt took personal control of the financial direction of the bank from its base in Dallas, Texas. Nexbank is also growing in importance as a financial institution across the U.S. as the company develops in importance as a nationally known banking group.