Texas Bankers Discuss Innovation to Grow Business

John Holt is the President and CEO of NexBank Capital, Inc. and was a featured participant in the Texas Bankers Association’s 5th Annual Strategic Opportunities and M&A Conference in New Orleans, Louisiana. He participated in the panel discussion on Reinventing Community Banking: Perspectives on Competing by Innovation.

The conference is a gathering of bankers meeting to discuss opportunities for growth as well as expected challenges in the months ahead. A chief subject driving the conversation is exploring the potential to expand through Mergers and Acquisitions. How to implement ideas for Organic Growth also featured prominently in the discussion. Expanding the number of local branches, known as Branching, was also a relevant topic and is still a reliable avenue of growth for banks.

The Mergers and Acquisitions route for growth is an attractive option. Burdensome regulations are proving to be expensive in the wake of the Great Financial Crisis. M&A offers a viable way for banks to acquire the resources necessary to implement costly rules and compete in a low-interest environment.

Organic growth strategies are also an important way for banks to improve results. Niche Lending could be a possibility here in addition to improving customer service. Providing a personalized, positive banking experience can pay great dividends in growing local business. Staff development can also be a key factor as customers prefer continuity and comfortable relationships to meet their banking needs.

Nexbank is a leading financial services company based in Dallas, Tx. They have three primary platforms in which they provide products and services. Commercial, Mortgage, and Investment banking comprise the bulk of their business. They also engage with Real Estate investors and provide services for all stages of a given project. Their services are custom designed for each client’s specific needs, and their staff has extensive experience in implementation.

Nexbank has assets of $5.3 billion and they are the fourth largest bank in Dallas, Tx. They are the 13th largest bank in Texas. With their vast experience and a wide range of expertise, Nexbank is well positioned to provide quality service to its customers.

Vincent Parascandola:Financial Services Professional With AXA US

Vincent Parascandola is AXA US’ senior executive vice president. He joined the company in 2004. At AXA Parascandola is in charge of management development, sales, recruiting, productivity and retention of financial professionals in the company, both new and experienced. A graduate of the Lubin School of Business at Pace University in the greater New York City area, Parascandola has a bachelor of science degree in computer science. He became involved in the financial services industry in 1987 when he joined Prudential as an agent. Parascandola did so well he was voted Prudential’s National Rookie of the Year.

In 1990 Vincent Parascandola changed jobs and went to MONY Life Insurance Company. While there he held numerous field management positions both locally and nationally. He joined AXA Advisors 14 years later. Since moving to AXA he has worked his way up through the company to the leadership position he holds today. Parascandola was president of the Advantage Group of AXA Equitable from January to December 2008. From 2009 and 2010 he was president of the company’s Northern Division. He then spent three and a half years as president of the Continental Division.

Between January 2013 and October 2014, Parascandola was both president and chief sales officer of AXA Equitable’s Continental Division. Since then Vincent Parascandola has served as senior executive vice president of AXA US and is based in the company’s

Woodbridge, NJ office. In his current role within AXA US, Vincent Parascandola is responsible for helping more than 225 financial professionals based in Central New Jersey to develop and grow. He also continues to recruit and train the firm’s new advisors. Parascandola works to improve the company’s productivity and overall sales growth.

In 2014, Vincent Parascandola was chosen to give the commencement address to the graduating class at his alma mater Pace University. He has given the school a good name by his more than 30 years of positive work in the financial services industry. He has helped AXA US with his work to improve their recruiting, productivity, sales and profitability through their AXA Advisors branch offices throughout the United States.