Bank of Ventura Reports 26% Rise in Net Income
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The Bank of Ventura reported second-quarter net income of $137,000, a 26% increase over $108,000 for the second quarter of last year.
The bank also reported a 16% return on equity and a 1.2% return on assets as of midyear.
“This income growth reflects an improved net-interest margin and increased core earnings,” said bank president and chief financial officer Joseph D. Kreutz. “Both are key indicators of the bank’s strengthening performance.”
The Bank of Ventura, formerly First National Bank of Ventura, has assets of more than $47 million. The bank recently purchased and moved into the former Bank of A. Levy building at 5808 E. Telephone Road.
An ATM and night depository are still available at the bank’s former location, 3200 Telegraph Road.
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