Forty-four years ago, Nevada State Bank (NSB) opened its doors for business, giving it the distinction of being the oldest state-chartered bank in Nevada. Today, the $2.8 billion company is the fourth largest commercial bank in Nevada. It operates 65 branches, 34 of which are full-service banking centers located inside Smith’s Food & Drug Stores serving 18 different Nevada communities. Branches are located in Boulder City, Carson City, Dayton, Elko, Eureka, Fernley, Gardnerville, Henderson, Las Vegas, Lovelock, Mesquite, North Las Vegas, Pahrump, Reno, Sparks, Tonopah, Wells and Wendover.
In addition to small business lending, NSB offers commercial and real estate loans up to $50 million and provides large equipment leasing. “Our clients are able to experience the best of both worlds in the banking industry. We have the quality service of the smaller banks, and at the same time are able to offer the products and specialized services of the large national banks,” stated Bill Martin, Nevada State Bank chairman, president and CEO.
With 46 approved U.S. Small Business Administration (SBA) government-guaranteed loans in Nevada, totaling approximately $12.2 million, Nevada State Bank ranked as the state’s top provider (by volume) of SBA loans to small businesses last year. “We are proud to be the number-one ranked lender in the SBA program for Nevada, focusing on providing small businesses the ability to grow and flourish,” Martin said. Martin added he is equally proud the bank was ranked number one for loans to minority and women-owned businesses during this time period.
Nevada State Bank pioneered supermarket banking in Nevada. Its first supermarket branch was opened at Maryland Parkway and Sahara Avenue in May 1989. The then-revolutionary concept has developed into a system providing a full-service branch inside every Smith’s Food & Drug Store throughout Nevada. “Nevada State Bank strives hard to accommodate our clients by providing extended and weekend hours with the convenience of banking where our clients shop,” Martin said.
The bank has developed a Community Reinvestment Act (CRA) program that extends beyond the basic federal requirements of servicing the needs of low- and moderate-income communities. Nevada State Bank helped fund and support over 260 programs, events, sponsorships and agencies in Nevada in 2002 totaling up to $364,000. All of these programs are essential and important to citizens of Southern and Northern Nevada.
Nevada State Bank is presently the only bank in Nevada to offer a product called Fresh Start Checking, an account geared to the individual who has had a checking account closed because he or she did not know how to reconcile and maintain an account. After meeting certain requirements, customers are eligible to open a Fresh Start account. This innovative product gives a much-needed second chance to those who would not otherwise be able to open a checking account at a financial institution.
Nevada State Bank designed the Assisted Technology Loan Fund (ATLF) to help Nevadans with disabilities. The ATLF loans money to those who cannot get funding from other sources and who qualify under loan guidelines. The Assistive Technology Loan Fund is a cooperative effort between Nevada State Bank, Nevada Community Enrichment Program and State of Nevada Rehabilitation Division.
NSB has over 750 employees, both full and part-time. It was ranked as the friendliest small business bank in Nevada by the Small Business Administration in its eighth annual Small Business Lending in the United States report.