Brief: Lower profit for Nevada bank owner

Net income for the company in 1998 was $55 million, or 49 cents a share, a 39 percent decrease from 1997.

For the fourth quarter, the company reported a net loss of $4 million, or 4 cents a share.

The bank forecast the weaker performance last month and responded with plans to cut 220 jobs nationwide, close unprofitable branches and sell some supermarket branches.

None of the cuts were planned for Las Vegas. Chief Financial Officer Flake Oakley said the company planned to add a branch in Las Vegas this year.

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