Ventura County National Says Profit Rose 71%

Ventura County National Bancorp, the parent of Ventura County National Bank and Frontier Bank, said its net income for the third quarter that ended Sept. 30 jumped 71% to $1.37 million from $801,000 a year earlier. For the nine-month period, the Ventura-based holding company’s profit increased 37% to $2.91 million from $2.13 million last year.

The company reported total assets on Sept. 30 of $401 million, a 65% increase from $243 million a year before.

Ventura attributed much of its growth in profits to contributions from Frontier Bank, which it acquired in October, 1989, and the deposits of Westco Savings Bank, acquired in the second quarter of 1990.