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Profits generally strong for Nevada bank operators

Thursday, April 19, 2001 | 11:37 a.m.

SUN STAFF AND WIRE REPORTS

Several banks operating in or based in Nevada reported generally stronger earnings this week.

As reported Monday and Tuesday, Wells Fargo, the state's largest bank, said its quarterly profit of $1.16 billion or 67 cents a share was up from $1.04 billion or 61 cents in the year-ago quarter. No. 2 Bank of America saw profits fall 17 percent to $1.87 billion or $1.15 a share. Citigroup, operator of Las Vegas Citibank branches and a big call center, said its profit fell 7 percent to $3.66 billion or 71 cents per share.

Other Nevada bank operators reporting results this week:

U.S. Bancorp is the name of the bank created by Firstar Corp.'s $22.5 billion stock purchase of U.S. Bancorp in February. The combined company reported operating income of $797.3 million or 42 cents a share.

Net income rose to $641 million, or $1.15 a share, from $458.5 million, or 83 cents, in the same period in 2000.

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