October 28, 1997 |
Bank of Ventura recorded a third-quarter earnings increase of 59% before taxes over the same period in 1996. For the nine months ended Sept. 30, the bank reported that after-tax earnings rose 15% over the same period a year ago. The bank also reported an asset growth increase of 13%, as compared to the first nine months of 1996. "We're proud to report another quarter of strong performance for the bank," said Joseph D. Kreutz, president and chief executive officer.
October 21, 1997 |
They've got the vault, the drive-through window, the ATM machine and the furniture. Now all that officials of California Oaks State Bank need is some money and the final government go-ahead, and they will be open for business. California Oaks State Bank has received preliminary approval from the California Department of Financial Institutions and the FDIC to organize as a corporation to raise at least $5 million through a common stock offering at $10 per share.
October 14, 1997 |
American Commercial Bank of Ventura opened a Camarillo loan production facility in October 1996 with the goal of reaching $3 million in loans. It reached that milestone in a hurry, and now, a year after it first ventured beyond Ventura city limits, the institution is nearing the $6-million mark. Such success has bred confidence in bank officials who recently transformed the Ventura Boulevard loan office into a full-service branch. The bank now has four branches, three in Ventura.
November 22, 1994 |
Legend has it that when Achille Levy, founder in 1882 of Ventura-based Bank of A. Levy, was unsure about making a loan to a farmer, Levy would get up before dawn and drive his carriage to the farmer's house. If the lights were already on, the farmer's work ethic was proven, and he'd get the loan. In a few months, the lights will go out for good at Bank of A. Levy.
November 11, 1994 |
First Interstate Bank, trying to digest its August purchase of Bank of A. Levy in Ventura County, said Thursday that it will close six branch offices in the county, eliminate up to 100 jobs and sell Levy's headquarters building in the city of Ventura. The two banks combined now have 25 offices and employ about 350 people in Ventura County.
August 23, 1994 |
It's less than a month since First Interstate Bancorp, the Los Angeles-based parent of First Interstate Bank, announced plans to acquire the venerable Bank of A. Levy. But two of Levy's small banking rivals are already battling for parts of the business that belonged to Ventura County's largest independent bank. "A big chain bank has swallowed another one of Ventura County's local institutions," laments an advertisement run in local newspapers by Ventura-based American Commercial Bank.