Profit Grows at Ventura County National Bancorp
Ventura County National Bancorp, the Oxnard parent of Ventura County National Bank and Frontier Bank, said its first-quarter profit increased 120% to $520,000 from $236,000 a year earlier.
“We are beginning to see signs of a stronger economy and an improved business climate,” said William E. McAleer, president and chief executive officer.
For the three months ended March 31, McAleer said the company’s loan charge-offs decreased 58% to $209,000 from $498,000 a year earlier.
The bank’s assets increased 10% to $399.6 million as of March 31, compared with $364.7 million a year earlier.
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