TITLE

Organizing new banks in this economy no easy task

AUTHOR(S)
Edwards, John G.
PUB. DATE
March 2009
SOURCE
Las Vegas Business Press (10712186);3/16/2009, Vol. 26 Issue 11, pP18
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article explains why new banks are finding it difficult to develop in the face of the economic crisis. Cited as examples are Nustar Bank and Nevada Pacific Bank. It says that Nustar bank organizers started out when the subprime mortgage issue had not reached critical levels, but when it got its approval from Nevada's Financial Institutions Division, the real estate market had crashed and capital became unavailable. In the case of Nevada Pacific, organizers are holding off investments and reviewing its plans to move forward.
ACCESSION #
40539002

 

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