Meadows Bank Sees 20% Deposit Growth

Meadows Bank Sees 20% Deposit Growth

Las Vegas, NV, August 06, 2019 –(PR.com)– Meadows Bank, headquartered in Las Vegas, NV, announced today that it posted Net Income After Tax of $8,730,000 in the first half of 2019 which was 14% higher than the $7,629,000 it earned during the same period in 2018.

At June 30, 2019 the bank had Total Loans of $806.8 million which represented a 15% growth or $104.7 million over loans outstanding at June 30, 2018.

“Despite concerns of softening in the national economy, we have experienced strong loan demand through the first half of 2019, which reflects the sustained strength in the local economy,” said Arvind Menon, president & CEO of the bank.

Meanwhile, Total Deposits grew by $137.6 million from June 30, 2018 to $822.3 million at June 30, 2019. As of June 30, 2019, Total Assets grew to $934.4 million and Total Equity Capital grew to $108.1 million.

Published at Tue, 06 Aug 2019 14:12:00 +0000