First National of Ventura Posts 26% Gain in Assets
First National Bank of Ventura reported assets of $44 million for the second quarter, an increase of 26% over the same period in 1995.
Shareholders equity also jumped to $3.1 million, an increase of 19% over the previous year, officials said.
Earnings for the second quarter ending June 30 were $101,000, with year-to-date earnings for the bank totaling $216,545.
The bank also announced the resignation of Robert P. Zingg as president and CEO. He has been replaced by Joseph D. Kreutz, a member of the board of directors.
Bank officials recently hired two new business development officers and continue to review products, services and markets for expansion opportunities, officials said.
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