A Las Vegas bank that had planned to offer accounts to medical marijuana businesses has backed off, citing the astronomical cost of complying with federal regulations.
Subscribe to Banking RSS feed
Bank of Las Vegas is being sold to a Michigan bank holding company. Bank executives say the deal will recapitalize the struggling community lender and allow it to grow for the first time in three years.
Federal government employees that have been furloughed in Southern Nevada due to the ongoing government shutdown are being offered short-term, interest-free loans by several credit unions.
Bank of George is one of seven financial institutions nationwide to be included in priced auctions of preferred stock as the U.S. Department of Treasury winds down its remaining Troubled Asset Relief Program bank investments.
Federal banking regulators have terminated a consent order issued in September 2010 for First Security Bank of Nevada. At the time, the Las Vegas bank was recovering from losses on real estate loans that collapsed when the recession took hold.
The chairman of City National Corp. is stepping down and passing the torch to his son. Bram Goldsmith will become chairman emeritus on Tuesday, the bank holding company announced.
Citigroup Inc. will eliminate 760 jobs in its Las Vegas mortgage unit through layoffs starting in December, the company announced Monday. The cuts will eliminate more than two-thirds of the mortgage unit staff based at 8725 W. Sahara Ave. Work will end for most on Dec. 20.
With the long-ailing Las Vegas economy finally in a sustained recovery, Clark County Credit Union has re-emerged as a profitable financial institution after shedding branches and nonperforming loans, as well as investing in technology.
First Security Bank of Nevada said its net income for the second quarter increased by 583 percent over the same period last year because of strong loan growth.
WASHINGTON — A federal judge has struck down a rule setting a cap on the fees that banks can charge merchants for handling debit card purchases. He said the Federal Reserve didn’t have the authority to set the limit the way it did in 2011, improperly including data that made the cap too high.
As a 17-year-old senior at Chaparral High School, Johanna Blake took a part-time job as a teller with Bank of America. What the Las Vegas native couldn’t imagine was that two decades later, she would be a senior executive with the same company.
Silver State Schools Credit Union posted second-quarter net income of $7.48 million and year-to-date income of $8.65 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.
After a four-month search for a new chief executive, Bank of George said Tuesday it has promoted T. Ryan Sullivan to president and CEO of the Las Vegas-based community bank.
Zions Bancorp, parent company of Nevada State Bank, posted second-quarter earnings Monday that missed Wall Street expectations, as the company’s expenses and total loans increased.
Credit unions first earned their tax-exempt status in 1934 with the passage of the Federal Credit Union Act. The act granted the exemption because “credit unions are mutual or cooperative organizations operated entirely by and for their members.”
Two of the nation’s largest regional banking companies with subsidiaries in Nevada posted second-quarter earnings Thursday that topped Wall Street expectations.
Bank executives who oversee automatic teller machine operations in Las Vegas know that with new technologies, consumers are slowly shifting away from visiting local branches and relying on mobile or ATMs to meet their financial needs.
The Las Vegas region is tied for second when it comes to how much banks and credit unions charge customers for overdrawing their checking account, according to a survey by Moebs Services.
The Nevada Bankers Association has elected its new officers and board of directors for 2013-2014, the Las Vegas-based trade group said Monday.
With just 74 branches, U.S. Bank lacks the street-corner presence that its larger competitors — Wells Fargo & Co. and Bank of America Corp. — have in Nevada. But that’s all right with Lori Soren, whose strategy for the bank with $2.22 billion in local deposits includes mobile banking offerings, smarter ATMs and supermarket branches.
Nevada is expected to benefit economically from its first New Markets Tax Credit allocation. Clearinghouse CDFI, a Lake Forest, Calif.–based financial institution with an office in Las Vegas, recently received an $80 million allocation.
Huntington Capital is a boutique private equity firm with a successful track record of funding small and midsized businesses in the Southwest, including Nevada.