BEO BANCORP DECLARES TWO FOR ONE STOCK SPLIT
Contact:
E. George Koffler, President & CEO, (541) 676-0201
Mark Lemmon, EVP & CFO, (541) 676-0201
Heppner, Oregon, (August 1, 2007) -
BEO Bancorp today announced that its Board of
Directors declared a two for one stock split in the form of a
100% stock dividend. The shares will be distributed on
August 20, 2007, to shareholders of record as of August 19,
2007. Shareholders will receive one additional share of
common stock for every share currently owned. BEO Bancorp
has 440,329 shares outstanding and will have 880,658 shares
outstanding after the stock split.
"We are intent on building shareholder value. This move
will seek to improve the liquidity of the stock and increase
our franchise value," said E. George Koffler, President and CEO
of BEO Bancorp and its subsidiary, Bank of Eastern
Oregon. "We continue to post good results and are pleased
to share our good fortune with the loyal group of shareholders
we have," said Koffler.
Late in July, BEO Bancorp reported net income increased 73%
year over year for the first half of 2007 to $1,039,000 and
earning per share improved for the same period from $.81 per
share to $1.32 per share. The loan portfolio grew 9.9%
year over year and total assets grew 7.3% to $196,252,000.
For further information on the Company or to access Internet
banking, please visit our website at http://www.beobank.com.
About BEO Bancorp
BEO Bancorp is the holding company for Bank of Eastern Oregon,
which operates 11 branches and three loan production offices in
nine eastern Oregon counties. Branches are located in
Arlington, Ione, Heppner, Condon, Irrigon, Boardman, Burns,
John Day, Prairie City, Fossil and Moro; loan production
offices are located in Hermiston, Ontario, and
Enterprise. Bank of Eastern Oregon also operates a
mortgage division and offers brokerage services through BEO
Financial Services. Bank of Eastern Oregon's website is
www.beobank.com.
Forward-Looking Statements
The statements contained in this release that are not
historical facts are forward-looking statements based upon
management's current expectations and beliefs concerning future
developments and their potential effect on BEO
Bancorp. There can be no assurances that future
developments affecting BEO Bancorp will be the same as those
anticipated by management.
Actual results may differ from those projected in the
forward-looking statements. These forward-looking
statements involve risks and uncertainties. These risks
and uncertainties include, but are not limited to:
(1) competitive pressures in the
banking and financial industries;
(2) changes in interest rate
environment;
(3) general economic conditions,
nationally, regionally, and in operating markets;
(4) changes in regulatory environment;
(5) changes in business conditions and
inflation;
(6) changes in securities markets; and
(7) future credit loss experience.
