Longtime banker and civic leader, Sullivan dies at 60

Jace Radke

Monday, Feb. 21, 2000 | 11:33 a.m.

The former chairman of Valley Bank of Nevada was a major fund-raiser for many Southern Nevada charities, including the Nevada Catholic Welfare Bureau, Variety Club and Bluecoats Inc.

When he wasn't poring over loan applications for Las Vegas developments as chairman of the board at Valley Bank of Nevada, or working for area charities, Ken Sullivan Jr. liked to spend his time at the racetrack.

Sullivan, who at one time owned about 16 thoroughbred racehorses with longtime local developer and entrepreneur Irwin Molasky, liked nothing more than a day at the Del Mar racetrack in San Diego.

But it was what he did as a banker that left a lasting impression on Las Vegas, Molasky said.

"We owned a horse together that won five straight races, and we named it Mr. Integrity," Molasky said. "It was named after Ken. If I had to describe him in one word, that would be it.

"Without Ken's integrity and support, I never would have been able to build Bank of America Plaza downtown (originally Valley Bank Plaza), the Boulevard mall or Sunrise Hospital."

A house Sullivan and his wife, Susan, were building in San Diego would have put him closer to the horses and the races he loved so much, but Sullivan won't see it completed.

The resident of Southern Nevada for 37 years died of natural causes Saturday in his northwest Las Vegas home. He was 60.

Sullivan was born in Salt Lake City on May 22, 1939, and graduated from the University of Notre Dame in 1961.

He worked briefly as a certified public accountant with a Salt Lake City firm before moving to Las Vegas in 1963 to accept a job with the then fledgling Bank of Las Vegas, which would become Valley Bank of Nevada. He was named executive vice president of the bank in 1965. Valley Bank was acquired several years ago by Bank of America.

"He was a young, sharp guy when he came here and Parry Thomas was forming the bank," Molasky said of Sullivan's early days in Las Vegas.

"He was a businessman's dream of what the perfect banker should be. He had a can-do attitude and made decisions based on values, integrity and reputation, and while the balance sheet was still important, it wasn't the most important factor.

"In the '60s and '70s it was very difficult to get financing, but he was there to help so many people like myself and the Fertitta family, who own the Station Casinos."

Sullivan was named chairman of the board of the bank in April 1980 and held the position for a year before leaving the bank to pursue other business ventures. He remained a consultant with the bank through the years.

Along with the bank, charities also occupied a large amount of his time, his wife said.

"He was very involved and spent endless hours working for charities," Susan said. "He was a devout Catholic and was one of the big fund-raisers in town for the church."

The Sullivans were longtime members of the Las Vegas chapter of the Variety Club, a nonprofit organization with 50 chapters in 11 states that raises money for abandoned, sick and disabled children.

Sullivan was active in the Nevada Catholic Welfare Bureau, drug prevention groups and the Bluecoats Inc., an organization that helps widows and children of firemen and police officers killed in the line of duty.

Sullivan had five children with his first wife, Blanche Sullivan, who died in 1991.

Susan Sullivan, who met Ken at Del Mar, said her time with him over the last eight years was like something out of a storybook.

"We were married at St. Peter's in Rome, and then we met the pope," Susan said. "He flew our reverend, Father Richard Rinn from Bishop Gorman, over to conduct the ceremony."

In addition to his wife, Sullivan is survived by three sons, Stephen, John and Kenneth, all of Las Vegas; two daughters, Kathleen of Las Vegas and Margaret Compeggie of Washington; one stepson, Michael Fredericks of Arkansas; one brother, Robert of Reno; two sisters, Barbara of Arizona and Nancy Taylor of South Carolina; nine grandchildren; and one great grandchild.

Visitation is scheduled 5-7 p.m. on Tuesday at the Shrine of the Most Holy Redeemer, 55 Reno Ave. A vigil is scheduled at 7 p.m. on Tuesday and Mass will be held at 10 a.m. on Wednesday at the church.

The family requests donations be made to either the Kenneth J. Sullivan Jr. Memorial Scholarship at Bishop Gorman High School or Nathan Adelson Hospice.

Jace Radke is a reporter for the Las Vegas Sun. He can be reached at (702) 259-2318 or by e-mail at jace@lasvegassun.com.