Loan totals closing in ‘98 record

Monday, Aug. 16, 1999 | 10:47 a.m.

A robust economy in Nevada boosted Bank of America's statewide commercial loan growth in the first half of the year to more than $275 million.

That's about 70 percent of last year's record loan growth of $390 million.

For the third consecutive year, the bank's commercial loans in 1998 grew, gaining 5 percent from the previous year's $367 million. In 1996, the bank had $298 million in new commercial credits. Commercial loans are credits that typically start at $1 million and go up to the bank's legal lending limit.

With economic growth in Nevada expected to remain strong, the bank's overall loan growth is likely to be healthy for the next 18 months, said George Smith, Nevada president for Bank of America.

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