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Venture posts solid earnings, growth and loan quality

Post by C.R. Roberts / The News Tribune on July 31, 2007 at 3:38 pm with No Comments »
July 31, 2007 3:38 pm

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.

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