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.
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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.
The newly released “High Net Worth Report” by the Private Bank of Nevada State Bank, drawing up the BLS Time Use Survey, found higher income individuals get about eight hours and six minutes of sleep each night — about 3.3 percent less than the lower income set.
For Dallas Haun, the economic indicators at his bank are showing that the Southern Nevada market is creeping out of the doldrums and slowly picking up momentum.
George Smith, market president for Bank of America Nevada, oversees companies who bring in a serious chunk of change.
Anna Martini, president of Montreal-based fashion retailer Dynamite, said she hopes the Las Vegas store, which opened May 1 at Fashion Show mall, will be the 30-year-old company’s flagship location.
A tall blue box tucked in the rear of The D casino in downtown Las Vegas could soon shake up the gambling industry. That’s the hope of Derek Stevens and Jordan Kelley, who met Wednesday as they prepared to launch the first Bitcoin ATM in a casino.
Should an economic collapse ever ruin the U.S. dollar, you could still shop for your cataclysmic needs at the Zombie Apocalypse Store. Behind the door protected by wrought-iron bars and near a couple of machetes, black and orange signs read: “Bitcoin accepted here.”
Meadows Bank on Monday reported first-quarter net income of $1.262 million, compared with $335,000 in the same period last year.
Southern Nevada’s credit freeze is thawing, and that means better times for small businesses that need financing. It’s also a boost for the region’s economy, because smaller companies employ most of the local workforce and help spur spending in every industry.
Nevada State Bank, a subsidiary of Zions Bancorp., on Friday reported loan growth of $33.1 million for the first quarter of 2014. The bank’s year-over-year loan growth was $233.9 million, and the company posted a net income of $2.3 million. That extended a positive trend of quarterly earnings since 2010, according to a news release.
First-quarter earnings reported this week have offered varying results for a trio of Southern Nevada’s biggest regional banks.
Zions Bancorp, the parent company of Nevada State Bank, reported that its first quarter earnings fell about 8.6 percent in 2014, as the company worked to meet Federal Reserve stress test standards.
Banker John Guedry’s speech on Wednesday marked the first of what he expected to be many talks with business leaders across the valley through November about a proposed 2 percent margins tax on business that would be earmarked for education.
Technology such as video conferencing is forcing a redesigned blueprint at financial insitutions across the country and throughout Southern Nevada. Tellers are stepping from behind the counter. Even the line at the drive-up window is shorter.
Zions Bancorp, parent company of Nevada State Bank, is alone among 30 major banks to fail a “stress test” by the Federal Reserve.
The Las Vegas Business Press’ Rising Stars of Business Class of 2014 is a tenacious group. Many started on the ground level, climbing the ranks quickly. And as our honorees approach the pinnacle of their careers, they don’t hesitate to help others achieve their goals. Philanthropy and education are common extracurriculars for these professionals.
A less-than-perfect credit score is no longer an obstacle to buying a single-family home or townhouse in Southern Nevada.
Table game provider Galaxy Gaming said it settled its legal issues with Bank of America over a disputed business loan.
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