Venture Financial Group Inc., the parent company of Venture Bank, which has an office in Gig Harbor, has announced near record quarterly earnings of $2.19 million, a 16 percent increase over the same period a year ago. Excluding a third quarter net gain in 2003 those figures represent the largest quarterly profits in the company’s history. Earnings per share were 33 cents.

The earnings announcement follows the completion of a sale of seven Venture branches to Hoquium-based Timberland Bank. Deposits transferred totaled $88 million. The company retained all loans originated through the seven branches will realize an estimated $4 million net gain.