Texas Witness the Re-emergence of Community Banking in a Big Way

Texas is leading the way in the United States when it comes to paving the way for the re-emergence of community banking. Many banks are taking the initiatives to reach out to the less privileged sections of the society and give them the financial tools to grow and be self-dependent. Nexbank is leading the way in this sector in the state of Texas, and it is evident from the speech given by John Holt, CEO and President of Nexbank at the fifth annual conference organized by the Texas Bankers Association. The conference is held every year to discuss the various challenges, issues, and problems the financial and banking sector faces, and what can be done to resolve the issues and transform hindrances to opportunities.

The theme of the recently held conference was the reinvention of community banking and different perspectives on how to lead the tight competition through the use of innovation. John Holt mentioned in his speech that technology is going to play a huge role in how the community banking can be modernized and allowed to grow beyond its current reach at the moment. He mentioned that Nexbank is leading the way in community banking by loaning the financial institutions that are providing mortgages to the low-income families and by acquiring college savings banks.

He believes that making the community banking system healthy at the lower level would trickle down its positive impact upwards, and empower the entire community financially. Nexbank is one of the oldest banks in the Texas that was set up in 1934 and operates through its three core units, namely mortgage banking, commercial banking, and institutional services. Nexbank aims at making a constructive effort in the field of community banking through the various initiatives it is taking, which would not only help the bank to grow vertically but would also equip the local communities with the financial power it needs to grow.

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