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Nevada financial institutions were heading toward a tolerable year, with ups for most and downs for some, according to third-quarter figures released in late January by a national research organization. Local last-minute reports on year-end figures and plans for expansions back up the earlier figures, too.
First Interstate Bank-Nevada reported a record year-end net income of $56.2 million, up 26 percent over 1988. The numbers were out quickly, by January 18, just ahead of the Los Angeles parent company's revelation that it lost $344 million for 1989. Most of that company-wide loss was attributed to real-estate problems in Arizona and Texas.
In Nevada, FIB's return on assets and return on equity ran to 1.58 percent and 23.4 percent, respectively. That placed the bank among "the top 10 percent of peer banks in the country," FIB officials say. Its assets were more than $3.8 billion, up 12 percent from 1988.
Security Pacific Bank Nevada, like most other institutions around Las Vegas, was still...