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Banking, finance, and taxes

IPO Filing Alert: Venture Financial Group, Venture Bank

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By Douglas A. McIntyre Published

Venture Financial Group, Inc. has filed to come public via an IPO under the ticker "VNBK" on NASDAQ.  Venture Financial is a bank holding company and parent of Washington state-chartered Venture Bank that operates in the southern Puget Sound region.

The IPO filing is for up to $46 million in securities.  Keefe Bruyette & Woods and D.A.Davidson are the only two underwriters listed in the filing.  This chartered bank has made several acquisitions in the area.  As of march 31 ithad $1.1 Billion in assets with net loans listed as $721.2 million, net deposits as $787.4 million, and shareholders equity at $87.5 million.  It also claims 12-months trailing diluted earnings per share of $1.65 EPS.  Venture Bank was established in 1979 and now operates 18 full-service financial centers located primarily along the Interstate 5 corridor in the Puget Sound region of western Washington.

Jon C. Ogg
July 17, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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