Meadows Bank, headquartered in Las Vegas with a branch in Reno, posted a net income after taxes of $8.4 million in 2015. It was a 29 percent increase from the $6.5 million reported in the prior year. The growth resulted primarily from increases of $4.3 million in net interest income and $323,000 in non-interest income offset by $1.1 million in higher operating expenses and $1.3 million in additional income taxes.
Total assets of the bank, which exceeded $500 million for the first time in July 2015, stood at $530.7 million at Dec. 31. The bank’s loan portfolio grew by $88.8 million to $466.1 million while deposits grew by $83.8 million to $457.4 million.
