OTHER NEWS - Jan. 1, 1992

Banks’ Parent Firm to Boost Loan-Loss Reserves: Ventura County National Bancorp, the Oxnard parent of Ventura County National Bank and Frontier Bank, said it would add $1.25 million to its loan-loss reserves, resulting in an operating loss for the fourth quarter. William E. McAleer, president and chief executive, blamed the weak economy for the decision to boost loan-loss allowances. “We cannot ignore the fact that the recession is not winding down as anticipated,” he said in a statement. In the previous quarter, the parent company had record loan charge-offs totaling about $1 million.