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December 7, 2009

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Banks’ earnings improve

Friday, July 18, 1997 | 9:17 a.m.

Two corporations with banking operations in Southern Nevada have reported improved second-quarter earnings performances.

Reno-based Pioneer Citizens Bank of Nevada reported record earnings with a 44 percent increase in after-tax profits and 35 percent asset growth while First Republic Bancorp Inc. of San Francisco reported an increase in net income of 45 percent.

Pioneer reported after-tax net income of $2.9 million (55 cents per share) compared with the 1996 second-quarter total of $2 million (38 cents per share).

First Republic reported net income at $4.4 million (41 cents per share), up from $3 million (33 cents per share) in the second quarter of 1996.

Pioneer operates five branches in Southern Nevada while First Republic has two savings banks that offer loan and deposit services in Las Vegas.

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