Asset growth reported by several LV banks

Monday, Aug. 16, 1999 | 10:48 a.m.

Several small and midsized banks reported asset growth during the second quarter as they grew with the booming Southern Nevada economy. But profit numbers were mixed.

Business Bank of Nevada reported a pre-tax profit for the second quarter ending June 30 of $897,000. Comparable figures for the year-ago quarter were not disclosed. The bank said assets of $121.7 million were up from $93 million one year ago.

Silver State Bank said it earned $51,000 or 4 cents per share in the quarter, down from $145,000 or 15 cents in the year-ago quarter. The bank blamed the decline on costs for opening a branch and for product expansions.

Nevada First Bank said it earned $403,000 during the first six months of the year. Comparable-period figures were not reported. Commercial, real estate and construction loans stood at $51.2 million at June 30.

Community Bank of Nevada said it earned $678,000 during the second quarter, a 40 percent increase from the year-ago quarter. Assets were $166 million on June 30, up from $121 million a year earlier. Golden State Bancorp of San Francisco, parent of California Federal Bank, said it earned $83.6 million or 59 cents per share in the quarter, down from $287.5 million or $5.07 per share. First Republic Bank of San Francisco reported quarterly earnings of $5.8 million or 57 cents per share in the quarter, up from $4.9 million or 50 cents.

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