Bank of Ventura Posts Record Earnings, Growth

Bank of Ventura reported record earnings and growth during the third quarter.

The bank reported an 18% increase in assets, rising to $59.6 million on Sept. 30 from $50.6 million a year earlier. Net income before taxes was $164,000, a 40% increase from the same period in 1997.

“Our record earnings are due to the bank’s growth in assets and the contribution of our recently formed mortgage loan department,” said Joseph D. Kreutz, president and CEO.

The bank is at 5808 Telephone Road in Ventura.