Income, Shares, Loans All Rise at Bank of Ventura

The Bank of Ventura reported increases in several areas during the fourth quarter of 1997.

The bank reported net income of $111,311, an increase of 72.5% over the same period in 1996. That raised the year-end income for the bank to $501,745, an increase of 26.3% from a year earlier.

The return on shareholder equity was 14.2%, with earnings of $1.33 per average share. The bank also reported assets of $54 million, up 20.9% compared with the end of 1996.

The bank reported an 11.4% increase in loans during the quarter, with loans totaling more than $31.3 million. In response to the improved home-buying market and increased customer demand, the bank has expanded its residential mortgage lending department.

Bank of Ventura is at 5808 E. Telephone Road in Ventura.