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Ventura County National Bancorp

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BUSINESS
March 3, 1992
Ventura County National Bancorp said its board declared a 6% stock dividend, to be paid March 30 to stockholders of record March 9. The parent of Ventura County National Bank has declared four stock dividends and three stock splits since it was founded in 1982.
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BUSINESS
November 5, 1996 | BARBARA MURPHY
Net income for Ventura County National Bancorp dipped slightly in the third quarter of this year compared to a year ago, officials reported. For the quarter ended Sept. 30, net income was $575,000 or 6 cents a share, compared with $650,000 or 7 cents a share a year earlier. The third-quarter results include costs of $300,000 associated with the forthcoming merger with City National Corp., which is expected to close in early 1997.
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BUSINESS
May 5, 1992
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.
BUSINESS
September 17, 1996 | Times Staff and Wire Reports
City National to Acquire Oxnard-Based Bank: City National Bank said it plans to buy Ventura County National Bancorp for $47 million, merging Ventura County's largest independent bank into the largest independent bank based in Southern California. The sale would bring VCNB stockholders cash, stock or a combination of the two valued at $5.03 per share, or approximately 1.6 times the book value of VCNB as of June 30.
BUSINESS
May 11, 1993 | JILL BETTNER, TIMES STAFF WRITER
William E. McAleer has resigned as president, chief executive and a director of Ventura County National Bancorp and its Ventura County National Bank unit after the company restated its first-quarter results and posted a $1.6-million loss. The loss came after adding $3.3 million to its loan-loss reserves, the Oxnard-based bank holding company said. Previously, it had reported net income of $518,000 for the first quarter.
NEWS
January 4, 1990 | JAMES F. PELTZ, TIMES STAFF WRITER
With the opening of the stock market on Tuesday, shares of Ventura County National Bancorp started trading on the NASDAQ National Market System--the big leagues of over-the-counter market governed by the National Assn. of Securities Dealers. Until now, VCNB, whose main unit is Oxnard-based Ventura County National Bank, had been a "pink-sheet" stock that was thinly traded and virtually ignored by analysts.
BUSINESS
April 20, 1987
Ventura County National Bank named Ronald E. Hanock executive vice president-cashier of its Oxnard-based operations. The bank is a subsidiary of Ventura County National Bancorp.
CALIFORNIA | LOCAL
September 17, 1996 | MACK REED and KATE FOLMAR, SPECIAL TO THE TIMES
Ventura County lost another community bank Monday--a victim of the continuing trend of giant banks gobbling up smaller ones. Beverly Hills-based City National Bank has revealed plans to buy Ventura County National Bancorp for $47 million. The purchase--expected to be completed in early 1997--would merge the county's largest local bank with Southern California's largest independent bank, and add another name to the ranks of vanished Ventura County financial institutions.
BUSINESS
August 13, 1996 | BARBARA MURPHY
Ventura County National Bancorp posted a second-quarter loss of $879,000, equal to 10 cents per share, despite profits at the company's subsidiary banks. The holding company's year-to-date loss now stands at $553,000, or 6 cents per share. A $2.5-million court judgment against the corporation is the reason for the quarterly loss, according to Richard S. Cupp, president and chief executive. The judgment is being appealed, corporation officials said.
BUSINESS
February 27, 1996 | JACK SEARLES
Earnings of Ventura County National Bancorp increased in the final quarter of 1995 over the same period a year earlier, although profits at the company's main unit, Ventura County National Bank, declined. In the three months that ended Dec. 31, Ventura County National Bancorp had net income of $2.3 million, or 30 cents a share. A year earlier, the holding company earned only $50,000, or 1 cent a share.
BUSINESS
December 12, 1995 | JACK SEARLES
Ventura County National Bancorp, Oxnard-based parent of Ventura County National Bank, says it is no longer operating under an agreement imposed since 1993 by the U.S. comptroller of the currency. Richard S. Cupp, president and chief executive of both the holding company and the bank, hailed the announcement as the final step in the bank's return to "solid performance and results." He said capital-to-liability ratios are now well above required levels.
BUSINESS
October 31, 1995 | JACK SEARLES
Ventura County National Bancorp, parent of Oxnard-based Ventura County National Bank, is continuing a strong comeback, producing its highest quarterly profit since 1991 in the three months ended Sept. 30. In its most recent quarter, the holding company netted $650,000, or 7 cents a share, compared with a profit of $566,000, or 9 cents a share, in the same period last year. The per-share profit declined in the latest quarter, because of an increased number of shares outstanding.
BUSINESS
July 25, 1995
Ventura County National Bancorp, an Oxnard bank holding company, said its profit for the second quarter that ended June 30 was $524,000 compared to a loss of $763,000 in the second quarter last year. For the six months of 1995, the profit was $797,000 compared to a loss of $877,000 in the same period a year ago. The bank's total assets were $250,838 at the end of the second quarter, down slightly from $257,755 at the same time last year.
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