The state of Nevada is home to 49 banks that are insured by the federal deposit insurance corporation and that operate within the state. Of this amount, 17 of these banks are headquartered in the state and therefore can be considered Nevada-based banks. Banks operating within the state had in total $50 billion of assets, $40 billion of deposits and $22 billion of loans outstanding as of this writing. Banks in Nevada state currently employ a total of 1,965 people within the state. This amounts to 0.1% of the overall population of the state. In addition, residential mortgages made up 29% of the assets managed by banks operating within the state.

Density of Banks in Nevada

Banks in Nevada currently have a total of 449 branches located within the state. This equates to 1.5 branches per 10,000 people in Nevada.  If we take the data on the banks in Nevada and compare it with the banks operating in other states, we find that on this metric, banks in Nevada rank 51st out of the 52 states and territories. This is ranked in order of most to least branches per capita.  Taking a different approach, let’s look at the physical density of branches within this state. When the total square mileage of a state is factored in, banks in Nevada had on average 0.4 branches per 100 square miles. Therefore, Nevada ranks 48th out of 52 states and territories in terms of the most branches per square mile.

Performance of Banks in Nevada

 

performance-of-banks-in-Nevada

  • Net Interest Margin – banks in this state are on average below the national average on this metric. In total the net interest margin for the banks in Nevada is ranked 44th out of the 52 states and main territories in the country.
  • Return on Assets – in terms of this important return metric, banks in this state are on average higher than the national average. Altogether the Return on Assets for the banks in Nevada is ranked 1st out of the 52 states and main territories in the country.
  • Return on Equity – banks in this state on average have a higher return on equity than the national average. Overall, the Return on Equity for banks in Nevada is ranked 2nd out of the 52 states and main territories in the country.
  • Loan to Deposit – Banks in this state are on average above the national average when it comes to loan to deposit. Loan to deposit ratio is a good way to assess the liquidity of a bank. Lower is better as it means that a bank is funding more of its lending activities with its deposit base. Banks in Nevada are ranked 45th out of the 52 states and main territories in the country when it comes to loan to deposits.
  • Nonperforming Assets – this metric gives us an idea of the quality of a bank’s assets and their performance. Banks in this state are on average worse than the national average when it comes to nonperforming assets. We’re specifically looking at the level of nonperformance among the asset base. A higher figure indicates lower quality. Overall, banks in Nevada are ranked 50th out of the 52 states and main territories in the country when it comes to the percentage of their assets that are nonperforming.

5 Largest Banks in the state of Nevada

 

deposit-market-share-of-banks-in-Nevada

Based on the latest available data, Wells Fargo Bank is the largest bank operating in Nevada based on its deposit share. Wells Fargo Bank currently has a 21% share of deposits within the state. Below is summary information on the top 5 largest banks in Nevada.

Wells Fargo Bank

Wells Fargo Bank currently has the largest share of deposits within the state and has $26.5 billion of deposits. In addition to this the bank also has 103 offices within the state, which represents 2% of its total domestic offices.

Main Office Address: 101 N. Phillips Ave. Sioux Falls, SD 57104

Website: www.wellsfargo.com

Bank of America

Bank of America currently has the second largest share of deposits within the state and has $22.8 billion of deposits. The bank also has 64 offices within the state, which represents 2% of its total domestic offices.

Main Office Address: 100 N Tryon St Charlotte, NC 28202

Website: www.bankofamerica.com

Wells Fargo National Bank West

Wells Fargo National Bank West currently has the third largest share of deposits within the state and has $17.3 billion of deposits. The bank also has 1 office within the state, which represents 100% of its total domestic offices.

Main Office Address: 4455 Spring Mountain Rd. Las Vegas, NV 89102

Website: www.wellsfargo.com

Charles Schwab Trust Bank

Charles Schwab Trust Bank currently has the fourth largest share of deposits within the state and has $10.7 billion of deposits. Further, the bank also has 1 office within the state, which represents 100% of its total domestic offices.

Main Office Address: 2360 Corp Circle, # 400 Henderson, NV 89074

Website: www.schwab.com

U.S. Bank 

U.S. Bank  currently has the fifth largest share of deposits within the state and has $8.6 billion of deposits. In addition, the bank also has 56 offices within the state, which represents 2% of its total domestic offices.

Main Office Address: 425 Walnut St. Cincinnati, OH 45202

Website: www.usbank.com