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Bank raising capital

Friday, July 30, 2004 | 10:47 a.m.

The long-rumored establishment of Nevada Citizens Bank is moving forward.

The bank's Chief Executive Bill Ferguson, a former Las Vegas banker and regulator, said the bank is now in the process of raising $10 million in start-up capital. The bank's opening is loosely planned for the fall of this year. Key to the bank's strategy is a downtown office location at 201 Las Vegas Blvd. South, Ferguson said this morning.

Chairman of the bank's board will be Las Vegas accountant Ed Wilson. Also on the board is Las Vegas developer Hank Gordon, owner of Laurich Properties.

Nevada Citizens bank originally received regulatory approval to begin raising start-up capital three years ago but was derailed by the economic downturn that followed the Sept. 11, 2001, terrorist attacks.

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