Southern Nevada banks show losses in third quarter

Southern Nevada’s 19 state-chartered commercial banks have one thing in common. They all lost money in the third quarter, according to statistics compiled by SNL Financial.

Nevada State Bank, the biggest of the bunch, lost $158 million, almost double the loss in the second quarter.

Its nonperforming assets, which include delinquent loans and foreclosed real estate, grew by 0.9 of a percentage point to 9.91 percent of total assets during the quarter. However, the bank is backed by Zions Bancorporation, a large Salt Lake City-based regional holding company. It also has 19.42 percent in risk-based capital, a form of net worth.

Bank of Nevada also took a hit although not as large in relation to its size. The second-quarter net loss soared to $20.34 million from $3.72 million in the second period. It has 12.09 percent in risk-based capital. Nonperforming assets grew by to 7.26 percent from 4.41 percent in the second quarter.

SouthwestUSA Bank shows some of the biggest bad numbers, relative to its size. The third-quarter loss ballooned to $8.16 million from $121,000 in the second quarter.

Its nonperforming assets bulged by about 3.5 percentage points to 18.92 percent. In other words, almost one-fifth of total assets are delinquent loans or foreclosed real estate. Its risk-based capital was 6.54 percent.

Sun West Bank lost $12.5 million about half a million more than it lost in the second quarter.

It has 6.17 percent in risk-based assets while 15.45 percent of its assets are nonperforming.

Taken as a group, the banks allowed their total outstanding loans to decline 4.64 percent to $7.5 billion during the three months ended Sept. 30. Total deposits at the banks climbed 5.13 percent above the second quarter total to $9.04 billion.

Contact reporter John G. Edwards at jedwards@reviewjournal.com or 702-383-0420.