VCNB’s Quarterly Loss Narrows to $114,000

Ventura County National Bancorp, the Oxnard-based parent of Ventura County National Bank and Frontier Bank, said it had a loss of $114,000 in its first quarter, compared with a loss of $1.58 million a year earlier.

The company said it set aside $800,000 in loan-loss reserves for the quarter that ended March 31, compared with $4.03 million a year earlier.

However, the company’s non-performing assets--or loans in default and real estate acquired through foreclosure--totaled $24.9 million March 31, up from $6.66 million a year earlier. Assets at the end of the quarter totaled $316.5 million, down 22% from $408.2 million March 31, 1993.