Southern Nevada is not immune to the turbulence of our national and world markets.
Our local market has been directly impacted by the negative effects of the economy
and it now faces challenges that it has never before experienced.
Despite these challenges, there are opportunities for our banks. As interest rates
hit all time lows, we are witnessing a resurgence of Federal Home Administration
loans for first-time home buyers. The Region is also projected to continue growing
throughout 2009. It is expected that the Region will net approximately 3,000 new
residents each month and new commercial construction continues throughout Las Vegas.
Our Region has experienced many economic downturns but has always come back stronger.
Therefore, we expect nothing but the same performance. Our banks are well-positioned
to embrace new opportunities as they present themselves..