First National Bank of Ventura turned its highest profit ever in 1995 and is expected to reach its goal of $50 million in assets by the end of this year, shareholders were told at their ninth annual meeting.
Net income was up 137% over the same period a year earlier, officials said.
"We are excited about the bank's future in Ventura County," Robert Zingg, president and CEO, told shareholders. "While competition is fierce, loan demand is increasing and the economy appears to be stabilizing."
The bank earned its "certified lender" status from the Small Business Administration in 1995 and has added to its business development staff in an effort to continue its growth in the small business market. Already, a record number of loans have been made in the first two quarters of 1996, Zingg said.
The following individuals were reelected to the board of directors: Chairman J. Roger Myers, a partner in the law firm Myers, Widders, Gibson & Long; Vice Chairman William W. Wilson, a citrus and avocado grower; Dr. Brian D. Brantner; William W. Crew, a Burger King franchise owner; Joseph D. Kreutz, a mortgage banker with Golden Oaks Financial Corp.; Wendy C. Lascher, a partner in the law firm Lascher & Lascher; Leonard B. Ortiz, owner of Ortiz Brothers Trucking and Ortiz Ranches; Donald W. Pyne, a partner with Pyne, Morrel & Waltrip CPAs; and Zingg.