Bank of Ventura Reports Record Growth in 1999

The Bank of Ventura achieved record earnings and growth in 1999, with a return on equity of 14.5%.

Net income for 1999 was $744,000, an 18% increase over 1998. Capital increased 14.4% during the year to $5.5 million, assets climbed 10.2% to $67.4 million, and commercial loans grew more than 25% to $41.5 million.

“Our record earnings are the result of the bank’s efficient use of assets and increased loan production,” President and Chief Executive Joseph D. Kreutz said.