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Meadows Bank net income up 21%

Staff Report
December 6, 2019 - 7:00 am
 

Meadows Bank, headquartered in Las Vegas and operating a branch in Pahrump, announced that it posted net income after tax of $13,739,900 in the first nine months of 2019.

That was 21% higher than the $11,368,000 it earned during the same period in 2018.

As of Sept. 30, the bank had total loans of $817.8 million which represented a 12% growth or $85.2 million over loans outstanding at Sept. 30, 2018.

Meanwhile, total deposits grew by $62.6 million from Sept. 30, 2018 to $823.1 million at Sept. 30, 2019. As of Sept. 30, 2019, total assets grew to $950.6 million and total equity capital grew to $113.2 million.

Details were released in a Nov. 7 news release.

Meadows Bank was founded in 2008 in Las Vegas and currently has branches in Las Vegas, Henderson, Reno, Pahrump and Phoenix.

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