Meadows Bank reports 16% rise in net income in 2019 | nnbw.com
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Meadows Bank reports 16% rise in net income in 2019

NNBW staff report

RENO, Nev. — Meadows Bank announced Feb. 4 that in calendar year 2019, the bank’s after-tax net income grew 16% to $18.4 million, up from $15.8 million in calendar year 2018.

The bank’s loan portfolio grew by 7%, or $52.3 million, from $752.9 million to $805.2 million. In addition, total deposits grew from $745.8 million at year end 2018 to $838.2 million at year end 2019.

As of Dec. 31, 2019, total assets of Meadows Bank grew by 12% from the prior year end to $961.2 million from $858.7 million; total equity capital grew to $118.0 million, up 19% from the previous year.

Meadows Bank was founded in 2008 in Las Vegas and has Nevada branches in Las Vegas, Henderson, Pahrump and Reno, as well as one in Phoenix.