Great Basin Financial net rises

Great Basin Financial Corp. of Elko said last week it earned $588,710 in the second quarter compared with $311,506 in the same quarter a year earlier.

The parent company of Great Basin Bank operates branches in Fallon and Winnemucca as well as Elko.

For the first half of the year, Great Basin said it earned $921,365, a 44 percent increase from its net of $640,193 in the first half of last year.

Its loans at June 30 stood at $137 million, an increase of 1 percent over year-earlier figures, and total assets grew by 13.5 percent to $233 million.

Terry Sullivan, the company's president, chairman and chief executive officer, said Great Basin Financial expects the earnings growth continue through the remainder of this year.

He said the bank is grabbing market share from competitors in each of the cities in which it operates branches.