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Texas-based NexBank converts to a state-chartered bank

Dallas-based NexBank SSB changed its charter to a Texas state-chartered bank from a Texas state savings bank, effective July 1.

The bank converted its charter to more closely align with its longer-term business strategy, according to a news release. NexBank will retain its name but will remove the state savings bank designation.

NexBank had total assets of $9.78 billion as of March 31, according to S&P Global Market Intelligence data.