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Ventura County National Bank

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NEWS
January 6, 1994 | JOSEF WOODARD, SPECIAL TO THE TIMES
Art spaces wax and wane in Ventura County. With that swaying motion go the spirits of resident art observers, alternately swept into feeling as if there's some indigenous cultural groundswell and then left dejected by the blur of sameness. We've seen both extremes in 1993, a best/worst dichotomy if ever there was one. To grab an easy pun, the Ventura Arts Council, that once-vital central nervous system in the art circuit here, lost its Momentum--the gallery, that is.
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BUSINESS
June 3, 1997 | LEO SMITH, TIMES STAFF WRITER
Bob Patterson has worked in the Ventura County banking community for the greater part of the past 25 years. So it would be safe to assume that he has seen countless and dramatic changes in the way the local business community handles its collective finances. Then again, maybe not. "Certain things have changed, but not as much as one would think," Patterson said. "Generally, the business climate is the same as it was 25 years ago.
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BUSINESS
March 1, 1994 | DON LEE, TIMES STAFF WRITER
Ventura County National Bank, trying for the past year to reorganize and get out from under a heap of bad real estate loans, now faces a Sept. 30 federal deadline to shore up its capital levels. In a new consent agreement with the Office of the Comptroller of the Currency, the Oxnard-based bank agreed to meet unusually tough capital requirements or confront harsher measures by regulators, including civil penalties or removal of personnel.
BUSINESS
May 6, 1997 | LEO SMITH, TIMES STAFF WRITER
As bank customers have discovered in recent years, mergers between financial institutions take a little getting used to. But it's not just an awkward period for the customers--the bankers also need time to adjust. Officials of Los Angeles-based City National Bank, which took over Ventura County National Bank this year, are attempting to ease their transition period with the help of an advisory board made up of longtime Ventura County business leaders.
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.
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.
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.
CALIFORNIA | LOCAL
December 27, 1996 | MIGUEL HELFT
The $47-million merger of Ventura County National Bancorp and City National Corp. inched a step further, as bank officials announced this week that they have secured all necessary federal regulatory approvals. The merger is still subject to approval by Ventura County National Bancorp shareholders at a Jan. 14 meeting. If approved, the merger is expected to be completed by Jan. 17.
BUSINESS
July 12, 1994 | JACK SEARLES
Despite the news that Ventura County National Bancorp is discussing a possible merger with an unnamed suitor, there's no assurance that the merger will ever take place. That's the word from Richard S. Cupp, president and chief executive of the company and its chief subsidiary, Ventura County National Bank. "These things are start-and-stop all the time," Cupp says.
CALIFORNIA | LOCAL
December 27, 1996 | MIGUEL HELFT
The $47-million merger of Ventura County National Bancorp and City National Corp. inched a step further, as bank officials announced this week that they have secured all necessary federal regulatory approvals. The merger is still subject to approval by Ventura County National Bancorp shareholders at a Jan. 14 meeting. If approved, the merger is expected to be completed by Jan. 17.
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.
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
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
July 27, 1993
Ventura County National Bancorp in Oxnard, the parent of Ventura County National Bank and Frontier Bank, named Richard S. Cupp its new president and chief executive after posting a $2.7-million loss for its second quarter. The loss for the quarter that ended June 30 came after adding $4.3 million to its loan-loss reserves, the company said, blaming the continued poor performance of Ventura County's economy and a decline in real estate values.
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.
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