First National Bank to Focus on Car, Home Loans

First National Bank of Ventura reported $484,858 in after-tax earnings for 1996.

The bank increased its loan portfolio by 33% in 1996, up $28 million, said Joseph D. Kreutz, president and chief executive officer. As of Dec. 31, the bank’s assets were $47.8 million and shareholders’ equity was more than $3.2 million.

First National officials approved 22 Small Business Administration loans totaling $6.04 million last year, bringing the number of SBA loans to 80, for a total of $24 million.

This year, the bank intends to focus more on auto loans and mortgages, officials said.

The bank’s headquarters will move this spring to 5808 E. Telephone Road in Ventura.

The move is being made to provide customers with a more convenient location with two drive-through windows and twice the space of the current headquarters on Telegraph Road.