Nevada State Bank posts six-month earnings of $11.6 million


Nevada State Bank, a subsidiary of Zions Bancorp, on Thursday reported net earnings of $11.6 million for the first six months of 2013, compared with $11.3 million for the same period last year.

“I am pleased with our results for the first six months of 2013, in particular our loan growth of $38 million,” said Dallas Haun, president and CEO of Nevada State Bank. “I am especially encouraged that our loan growth for the first half of 2013 was across all broad categories, with increases in business, commercial real estate and consumer lending.”

Year-to-date, Nevada State Bank has funded $142 million in consumer and small business loans, according to an earnings statement.

“We remain committed to helping these vital segments of our economy,” Haun said.

The Las Vegas-based bank posted net income of $8.4 million in the second quarter. The results also showed continued improvement in asset quality trends, including a year-over-year decrease of 53.9 percent in nonperforming assets.

Nevada State Bank, with $4 billion in assets, operates 50 branches statewide.

Contact reporter Chris Sieroty at csieroty@reviewjournal.com or 702-477-3893. Follow @sierotyfeatures on Twitter.

 

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