Bank of Ventura Earnings Increase for 3rd Quarter

Bank of Ventura recorded a third-quarter earnings increase of 59% before taxes over the same period in 1996.

For the nine months ended Sept. 30, the bank reported that after-tax earnings rose 15% over the same period a year ago. The bank also reported an asset growth increase of 13%, as compared to the first nine months of 1996.

“We’re proud to report another quarter of strong performance for the bank,” said Joseph D. Kreutz, president and chief executive officer. “We’ve accomplished a great deal during the first nine months of this year, including the move to our new location and changing from a federal to a state chartered bank.”

Bank of Ventura, formerly First National Bank of Ventura, has assets of more than $50 million. Its new headquarters is at 5808 E. Telephone Road near Victoria Avenue.