Overview / Commentary
2515 Mckinney Ave, # 1100
Dallas, TX 75201

NexBank is headquartered in Dallas and is the 11th largest bank in the state of Texas. It is also the 145th largest bank in the nation. It was established in 1934 and as of March of 2022, it had grown to 92 employees at 3 locations. NexBank's CD rates are 2X the national average, and it has an A health rating.

Reviews (3)

Rough Start

Posted by: |

This bank will not assign an account number to you until your initial deposit is fully received. This is problematic as there is no way to check the progress of the account opening. Days are spent waiting for the bank to communicate with you. And nothing occurs.
In my case, two days after my account opened, I finally learned about it after initiating an e-mail.
Poor policy. And poor customer service.

Bad Customer Experience

Posted by: |

(1) Online presence is awkward to use. (2) Opted to establish a "link" to my personal checking account in order to transfer in and out. Applied online and received approval in just a day or two. But, when I tried to transfer out funds upon CD maturity I was told that out-of-state accounts could not be used. (3) In order to withdraw funds I had to send a notarized letter, a ridiculous requirement that only added to the "float" time they benefit from. (4) Trying to speak with anyone at the bank was difficult and you have to leave a message and wait for a return call. Played 'telephone tag.'
Certainly will not patronize this bank again!

WARNING: NO ACH Out Upon CD Maturity

Posted by: |

This bank does NOT send your maturity funds via ACH out. I spoke with a CSR at the bank, and he informed me that you have to send them a letter (probably a notarized letter) requesting closure of the CD account upon maturity and they will MAIL YOU A PHYSICAL CHECK. This is an antiquated and dangerous practice in this day and age. Think about delays in mail delivery or if your check gets misplaced in the mail. Then you have a lot of hoops to go through to get your money back (which you could have invested elsewhere had they sent you via ACH). For a little extra APY, I would NOT go through this hassle. Peace of mind comes first.


Health Grade Components

FDIC Certificate #29209
Year Established1934
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.98%
Return on Equity - YTD25.71%
Annual Interest Income$90.0MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$11.72B$9.08B
LoansQ1 2022vs Q1 2021$6.83B$6.35B
DepositsQ1 2022vs Q1 2021$9.24B$7.57B
Equity CapitalQ1 2022vs Q1 2021$924.1MM$699.3MM
Loan Loss AllowanceQ1 2022vs Q1 2021$44.3MM$45.9MM
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$39.1MM$55.3MM
Real Estate OwnedQ1 2022vs Q1 2021$0$356.00K
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Always verify rates and promotions with the bank or credit union. We are not NexBank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

NexBank Savings Account Rates

0.15%--Savings Account

NexBank Money Market Rates

0.50%*$25k*-High-Yield Money Market Savings
OTHER TIERS: 0.25% $1k - $5k | 0.30% $5k - $25k

NexBank Checking Account Rates

0.50%--Platinum One Checking

NexBank CD Rates

2.20%$250k-12 Month Promotional Online Jumbo CD
2.15%$50k$250k12 Month Promotional Online CD
2.10%$10k$240k12 Month CD
1.50%$10k$240k36 Month CD
1.50%$10k$240k48 Month CD
1.50%$10k$240k60 Month CD
1.50%$10k$240k24 Month CD
1.20%$10k$240k18 Month CD
0.85%$250k-6 Month Promotional Online Jumbo CD
0.80%$50k$250k6 Month Promotional Online CD
0.75%$10k$240k6 Month CD
0.70%$250k-3 Month Promotional Online Jumbo CD
0.65%$50k$250k3 Month Promotional Online CD
0.60%$10k$240k3 Month CD

NexBank Locations
Nexbank, SSB2515 Mckinney Ave, Suite 1100Dallas, TX 75201
Preston Center Branch6121 Luther LaneDallas, TX 75225
Mckinney Branch2515 Mckinney Avenue, Suite 1700Dallas, TX 75201

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