Bank of Ventura Reports 14% Increase in Assets

The Bank of Ventura posted record earnings and growth during 1998, according to President and CEO Joseph D. Kruetz.

The bank reported a 14% increase in assets, rising to $61.2 million at the end of 1998, compared with $53.8 million as of Dec. 31, 1997.

Net income was $630,534, an increase of 26% over 1997, bank officials said.

The record earnings were credited to the bank’s growth in assets and increase in loan production, Kruetz said.

The bank is at 5808 Telephone Road in Ventura.