Meadows Bank Reports 18.7% Increase in Deposits

Las Vegas, NV, November 18, 2021 --(PR.com)-- Meadows Bank, headquartered in Las Vegas, NV, announced today that it posted Total Deposits of $1.1 billion as of September 30, 2021, which was 18.7% higher than the $933.5 million posted on September 30, 2020.

At September 30, 2021, the Bank had Total Loans of $902.1 million which decreased from the $1.0 billion Total Loans outstanding on September 30, 2020. This decrease was primarily due to refinancing activity in the conventional loan portfolio and the forgiveness of Paycheck Protection Program (PPP) loans by the US Small Business Administration (SBA).

After Tax Net Income for the bank increased 34.6%, from $12.3 million on September 30, 2020 to $16.6 million on September 30, 2021. In addition, as of September 30, 2021, Total Assets increased 12.8% to $1.2 billion and Total Equity Capital grew 10.4% to $ 144.6 million.

About Meadows Bank
Meadows Bank is a full-service community bank committed to valued partnerships with our clients. Our relationship-based approach to banking focuses on making decisions locally, close to our clients. The bank offers a full suite of lending and deposit products and services. Meadows Bank was founded in 2008 in Las Vegas, Nevada and currently has branches in Las Vegas, NV; Henderson, NV; Reno, NV; Pahrump, NV and Phoenix, AZ. Loan production offices are located in Nevada; Arizona; California; Florida; Texas and Utah. For more information on the bank and its products and services please visit our website at www.meadowsbank.bank.

Media Contact: Jennifer Hall, jehall@meadowsbank.bank, (702) 471-2004