NexBank


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

NexBank is headquartered in Dallas and is the 14th largest bank in the state of Texas. It is also the 173rd largest bank in the nation. It was established in 1934 and as of June of 2021, it had grown to 90 employees at 3 locations. NexBank's money market rates are 14% higher than the national average, and it has a B+ 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
B+

Health Grade Components

Overall
FDIC Certificate #29209
Year Established1934
Employees90
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.26%
Return on Equity - YTD17.53%
Annual Interest Income$127.0MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$9.27B$8.84B
LoansQ2 2021vs Q2 2020$5.99B$6.12B
DepositsQ2 2021vs Q2 2020$7.27B$7.31B
Equity CapitalQ2 2021vs Q2 2020$696.8MM$526.5MM
Loan Loss AllowanceQ2 2021vs Q2 2020$41.1MM$63.8MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$57.9MM$74.6MM
Real Estate OwnedQ2 2021vs Q2 2020$0$232.00K
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%--Savings Account

NexBank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$25k*-High-Yield Money Market Savings
OTHER TIERS: 0.10% $1k - $5k | 0.15% $5k - $25k

NexBank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%--Platinum One Checking

NexBank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%$10k$240k18 Month CD
0.75%$10k$240k36 Month CD
0.75%$10k$240k48 Month CD
0.75%$10k$240k60 Month CD
0.75%$10k$240k24 Month CD
0.60%$10k$240k12 Month CD
0.45%$10k$240k6 Month CD
0.35%$10k$240k3 Month CD
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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