DuPont-based Venture Bank this week reported record net income of $12.7 million for 2007 – $1.6 million, or 14.4 percent, above the figure for 2006.
For the fourth quarter, Venture reported income of $3.2 million, $100,000 above the figure for the same quarter a year before.
Total assets at Venture were $1.2 billion at year-end, up 22.7 percent from the end of 2006.
Non-performing loans as a percentage of total loans were 0.40 percent at year-end, up from 0.10 percent a year before. The allowance for credit losses increased to 1.34 percent from 1.25 percent.