Commercial real estate may not grab the headlines the housing sector claims, but the industry’s fortunes are just as tied to overall economic health. And recent commercial indicators reflect ongoing recovery in both the local economy and the Las Vegas Valley’s retail, industrial and office markets.
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Bank of Nevada has elevated John Guedry to the position of CEO. Guedry follows longtime banking leader Bruce Hendricks in the top role at Bank of Nevada.
First Security Bank of Nevada reported record net income of $2.8 million for the year ended Dec. 31, a gain of $1.3 million, or 84 percent, compared with 2013.
Bank of America Corp. on Wednesday said it reached a $300 million settlement of a lawsuit brought by lenders that helped finance construction of the failed Fontainebleau, which filed for bankruptcy protection in June 2009.
Meadows Bank has announced it posted net income of $6.5 million in 2014 compared to $3.1 million in the prior year — a nearly 110 percent increase.
City National Corp., parent company of wholly owned City National Bank, on Thursday reported record full-year net income of $255.8 million in 2014, up 11 percent from $230 million in 2013.
Royal Bank of Canada said on Thursday it will buy Los Angeles-based City National Corp for $5.4 billion in a deal that targets City’s stable of high-net worth clients. City National serves clients in several large metropolitan areas, including New York, Los Angeles, the San Francisco Bay Area and Orange County, Calif. It has several branch offices throughout the Las Vegas Valley.
Clark County Credit Union posted $1 million in monthly net income for calendar year 2014, officials said Wednesday in a statement. The credit union also ended 2014 with a net worth ratio of 11.77 percent and recorded net income of nearly $12.3 million for the year, the officials’ statement also noted.
T he midterm elections are over and Congress will be firmly under Republican control next month, but what does that mean for the economy and the banking industry?
First American Trust, a wholly owned subsidiary of First American Financial Corp., has expanded into Nevada by opening a new location in Las Vegas, extending its full-service investment management, wealth planning and trust solutions.
Nevada continues to lose bank branches as the industry trims down and services get increasingly electronic.
Confidence has been restored in the past two years in the areas of buying businesses and real estate, expanding existing businesses and establishing startups, said Wells Fargo Vice President Business Development Officer Roger Unger.
Phyllis Gurgevich earned a bachelor’s degree in sociology with a concentration in criminal justice and an English minor from Purdue University. But instead of interviewing criminals or possibly writing true crime novels, she built her career around writing and publishing for trade magazines and running associations.
Las Vegas-based Meadows Bank recently reported third-quarter net income of $1.973 million compared with $1.115 million for the prior quarter.
Data breaches are becoming commonplace, and banks and credit unions are trying to deal with the threat while working with law enforcement officials and federal and state regulators to try and protect consumers.
When Apple Pay was announced at a highly-choreographed launch event in September, industry analysts and experts declared that the mobile payment system had a shot at doing what other digital wallets have so far failed to do: Dethrone plastic credit and debit cards as shoppers’ default way of making a purchase.
A major data breach that recently attacked millions of customers at Home Depot hardware stores across the country has created some hefty work for a local Nevada financial institution.
Following a bonanza $17 billion settlement agreed by Bank of America Corp. this week, Nevada will receive exactly this much of it in cash: Zero. But state officials say that doesn’t mean the Silver State will go home empty-handed.
WASHINGTON — Bank of America has reached a record $17 billion settlement to resolve an investigation into its role in the sale of mortgage-backed securities before the 2008 financial crisis, officials directly familiar with the matter said Wednesday.
As America First Credit Union celebrated the grand opening of its newest Las Vegas location at 6090 S. Durango Drive on Aug. 15, the 75-year-old financial institution also welcomed Matthew Dice as branch manager.
Meadows Bank announced second-quarter earnings Tuesday, reporting a net income of $1.1 million, up $343,000 from the previous year.
Compared to their neighbors in lower income brackets, wealthy Nevadans are more optimistic that the local economy is heading in the right direction, according to Nevada State Bank’s most recent “High Net Worth Report.”
One of Southern Nevada’s largest regional banks on Thursday announced second-quarter earnings, reporting a 12 increase in net income.
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