Venture Financial Group, parent of DuPont’s Venture Bank, today reported second-quarter earnings up 23.1 percent from the same quarter a year ago. Earnings were $3.2 million, or 44 cents per share. A year ago, per-share earnings stood at 36 cents.
Loan quality continued to improve, with nonperforming loans at 0.09 percent of total loans, down from 0.32 percent a year ago and 0.10 percent at the end of 2006.
Total assets at the end of the quarter came in at $1.083 billion. The bank rose above $1 billion in the first quarter, when earnings also hit $3.2 million, a record quarterly increase of 39.1 percent over the year before.
Venture announced last month that it plans a public offering of its stock some time later this year.