ReserveAid Raises Record Amount for Texas Troops

Three-Year Total Surpasses $3 Million

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Mar 09, 2010, 12:42 ET

DALLAS, March 9 /PRNewswire/ -- NexBank, on behalf of ReserveAid Texas, a non-profit organization dedicated to providing financial assistance to reserve and active duty military service members and their families, is pleased to announce the Stars & Stripes Dinner held in honor of Texas troops brought in more than $500,000, bringing the three-year total to well over $3 million. NexBank was one of two top donors for the event, at the $50,000+ level. The funds raised from the 2010 dinner will be used to continue to provide financial assistance to reserve and active duty military service members and their families.

"NexBank is a strong and active partner in our community and we as a company remain focused on the many pressing areas in need of our support. ReserveAid does an incredible job on behalf of all of us as citizens, taking responsibility to find solutions that focus on stepping in to help some of the bravest people in our country," said Davis Deadman, president and chief executive officer at NexBank. "As a company, we want to help and be there for soldiers who give selflessly to all of us as they navigate difficult times."

This third annual "Stars & Stripes Dinner" was held on Saturday, February 20, 2010 at the Frontiers of Flight Museum in Dallas, with ReserveAid board members Chris and Kari Mawn serving as event co-chairmen. Other key sponsors included Highland Capital Management, L.P., 7-Eleven, Hayman Capital, L-3 Communications, Credit-Suisse, Equity Appreciation Partners Southwest, Epocal, Inc., Haynes and Boone, LLP, Investment Technology Group, Knight Capital Group, Lackey Hershman, LLP, Lockheed-Martin, Raytheon, Simons Petroleum, Strasburger & Price, LLP and Vought Aircraft.

"Since its beginning three years ago, ReserveAid has helped over 1150 military families from Texas. With this year's effort, we have raised over $3 million," said Chris Mawn, an executive at Highland Capital Management in Dallas. "A lot of these grants address basic needs, such as food, clothing, shelter and transportation, making them vital and so important for our service men and women."

ReserveAid Texas targets gaps in financial support that are not always met when reservists are called to duty. This includes reservists getting activated and their military pay is a fraction of their civilian pay, families whose civilian pay gets cut off and then there is a problem with their military pay starting (amount is wrong, first payment gets delayed, etc.), and veterans who have been injured and are navigating the VA benefits process.

Currently, the law requires that only those called on active duty receive unpaid leave. While Reserve Service Members retain long-term job security, many make significantly less than they would in their civilian lives. Accordingly, nearly 41 percent of Reserve Service Members are impacted by a pay discrepancy between their military and civilian salaries. These financial sacrifices are compounded for the 56 percent of Reserve Service Members that are married, most reporting a loss of income as a result of being called to active duty. ReserveAid Texas works to make sure our brave men and women are not penalized for doing so and their quality of life does not suffer as a result of their commitment to the United States.

For more information about ReserveAid or the 2011 "Stars & Stripes Dinner," please contact Polly Weidenkopf, 972-383-8080 or [email protected].

About ReserveAid:

Reserve Aid is a 501(c)(3) nonprofit organization committed to providing financial support to the families of Reserve and Active Service Members in all five branches of the Armed Forces mobilized in the Global War on Terror. Reserve Aid makes unrestricted, need based grants to military families who have a Service Member on full-time deployment to a combat zone or homeland security position. Our goal is to alleviate the emotional and financial burdens placed on the men and women called to serve our country by supporting their families at home. For more information, visit www.reserveaid.org.

About NexBank:

NexBank, SSB, is headquartered in Dallas in the NexBank Building, Galleria II Tower. Originally founded in 1922, the bank was purchased in 2004 by a group of Dallas-based investors who have refocused the bank to become a sophisticated and capable force in commercial real estate and specialty financing (local) and leader in deposit and savings rates. For more information, visit www.nexbank.com.

SOURCE NexBank