Meadows Bank reports quarterly net income of $1.973 million

Las Vegas-based Meadows Bank recently reported third-quarter net income of $1.973 million compared with $1.115 million for the prior quarter.

The bank also reported a net income of $4.35 million for the first nine months of 2014, more than double the net income of $2.169 million during the same period nine-ninth period in 2013.

“The jump in net income in 2014 is a direct result of a 27 percent growth in the bank’s net interest income driven by a significant increase in the bank’s loan portfolio,” Arvind Menon, Meadows Banks president and CEO, said in a statement.

Meadows Bank has branches in Pahrump, Reno, and Henderson, with loan production offices in Salt Lake City, Phoenix, Denver, San Antonio and Sacramento, Calif.

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