Some LV banks to operate on Jan. 1

Customer concerns over Y2K computer glitches are prompting Nevada banks to consider keeping branches open on New Year's Day.

First to announce such plans is San Francisco-based California Federal Bank. The bank plans to keep "somewhere between 70-80 branches" -- including six of its Nevada offices -- open on January 1, 2000. Three as yet undetermined Las Vegas branches will be among those open for business.

Company spokeswoman Mary Rische said the move was prompted by Cal Fed's desire to "reassure customers and provide them greater convenience." The bank operates 16 Nevada branches with total assets of $1.2 billion.

Rische said that most of the Cal Fed branches open on Jan. 1 will be in "residential areas where people will be out and about."

Although Cal Fed is the first major financial institution in Nevada to announce such plans, it may not be the last. A Bank of America spokesman said the nation's largest bank is considering the possibility of keeping its branches open on Jan. 1.

"At this point, we're looking at that possibility (of keeping branches open) but no final decision has been made," said B of A's Paul Stowell. "We're essentially going to gather information from our clients and look at the market to help determine the need to be open for business on New Year's."

Stowell said that competitors' New Year's business plans could influence B of A's decision.

"It's a competitive market, and you always look to see what's happening in the market," he said.

An official with the Nevada Bankers Association said several other banks are at least considering the option of staying open on the first day of the new millennium.

"We recently completed a survey of all 30 banks operating in the state, and CalFed was the only bank that said it would have branches open on New Year's Day," said Ted Wehking, executive vice-president of the Nevada Banking Association. "The only other institution that said it plans to stay open was First National Bank of Marin, which is essentially a credit card operation. However, several banks said they were undecided as to whether they would open branches on Jan. 1st. They told us they wanted to read the temperature of customers and were keeping that option open."

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