Henderson bank’s profit up

By Sun Staff (contact)

Thursday, Oct. 9, 2003 | 11:13 a.m.

Henderson-based Silver State Bancorp this morning announced third-quarter net income of $1.3 million, or 99 cents per share.

The company, which operates eight Silver State Bank branches in the Las Vegas Valley, said the results mark an 88 percent increase from net income of $707,000, or 54 cents per share, in the same 2002 quarter.

Tod Little, chief executive of Silver State Bancorp, said the earnings improvement was attributable to growth in the bank's loan portfolio.

"Our loan volume has grown over $100 million since the same period of last year," he said.

The bank said loans and other assets now total $500 million.