Venture Financial Group, Inc., parent company of Venture Bank, which has two branches in Gig Harbor, announced record third quarter net income of $3.30 million, an increase of 100 percent compared to $1.65 million for the third quarter 2002.

Diluted earnings per share were $.72 for the quarter ended Sept. 30, up 97 percent from $.37 for the same quarter in 2002. Net income for the third quarter was up 69 percent compared to second quarter 2003 earnings of $1.95 million.

Net income for the nine months ended Sept. 30 was $7.03 million, an increase of $2.39 million or 52 percent compared to $4.64 million for the same period in 2002.

On a diluted earnings per share basis, net income was $1.53 per share for the nine months ended Sept. 30 compared with $1.04 for the same period a year ago, an increase of 47 percent.