Reno bank plans branch in Carson City

Fresh off a year in which it earned $1.18 million, Northern Nevada Bank plans to open a branch in Carson City.

The branch will be the first for the two-year-old bank.

It also plans expansion of its headquarters building at South Virginia and Moana.

The Carson City branch will be in a new 2,500-square-foot building at Highway 50 East and Airport Road, two miles east of the downtown area.

"We think it's an under-served area," said Robert Hemsath, president of Northern Nevada Bank.

"The growth of Carson City is headed toward the east."

The building that will house the branch will be under construction this spring with completion in autumn, Hemsath said last week.

As soon as the bank receives regulatory approval, it will open a Carson City branch in temporary quarters.

The bank plans to lease one office in the building to an outside tenant.

In Reno, meanwhile, Northern Nevada Bank plans a 6,000-square-foot addition to its headquarters at 3490 S.

Virginia.

Hemsath said the two-story addition to the north side of the bank's building will include customer-service space as well as room for a growing staff.

The bank's net income of $1.18 million last year marked a 43 percent increase over its 2002 earnings.

Assets on Dec.

31 stood at $83 million, an increase of 68 percent over year-earlier totals.

Hemsath said the earnings and assets are an indication that the locally owned bank has moved out of the start-up phase.

He said Northern Nevada Bank last year was recognized by the Small Business Administration as its top Section 504 lender in northern

Nevada.