NexBank


Overview / Commentary
972-934-4700
2515 Mckinney Ave, # 1100
Dallas, TX 75201

NexBank is headquartered in Dallas and is the 12th largest bank in the state of Texas. It is also the 166th largest bank in the nation. It was established in 1934 and as of September of 2021, it had grown to 90 employees at 3 locations. NexBank 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

Health Grade Components

Overall
FDIC Certificate #29209
Year Established1934
Employees90
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.34%
Return on Equity - YTD18.25%
Annual Interest Income$203.8MM
Assets and Liabilities
AssetsQ3 2021vs Q3 2020$9.75B$9.04B
LoansQ3 2021vs Q3 2020$5.60B$6.32B
DepositsQ3 2021vs Q3 2020$7.82B$7.36B
Equity CapitalQ3 2021vs Q3 2020$759.9MM$555.4MM
Loan Loss AllowanceQ3 2021vs Q3 2020$39.7MM$74.7MM
Unbacked Noncurrent LoansQ3 2021vs Q3 2020$35.8MM$97.0MM
Real Estate OwnedQ3 2021vs Q3 2020$0$164.00K
Rates

Rates for NexBank are currently being reviewed.

Locations


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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