Southern Nevada economy: Slump leaves bankers blue
July 6, 2009
By MoneyAisle
According to the Las Vegas Review-Journal, “bankers need to look no further than their first-quarter financial reports for a reminder that Southern Nevada’s economy is in a slow, whining fall.”
The majority of the banks in the state lost money in the first quarter of 2009. However, due to the fact that many of these financial institutions have sufficient amounts of capital or equity, they have been able to “absorb the losses and continue in business.”
Many of the states’ community banks are continuing to give out new loans and attract new deposits.