Dallas-based NexBank SSB announced Tuesday that it had acquired College Savings Bank of Princeton, New Jersey.
The New Jersey bank specializes in 529 plan college-savings programs, NexBank said in a news release. No terms of the deal were released.
“College Savings Bank will keep its name and branding, and maintain current operations as a division of NexBank,” John Holt, president and CEO of NexBank Capital Inc., said in the release.
NexBank said that College Savings Bank has concentrated on college savings since it was founded in 1987. It is a program manager for the Indiana CollegeChoice CD 529 Savings Plan and Arizona Family College Savings Program-Bank Plan.
NexBank SSB is a part of NexBank Capital Inc., a diversified financial services company that serves customers across the country through its three core businesses -- commercial banking, mortgage banking and investment banking.
