BEO Bancorp Declares Annual Cash Dividend
E. George Koffler, President & CEO, (541) 676-0201
Mark Lemmon, EVP & CFO, (541) 676-0201
(OTC Bulletin Board: BEOB)
Heppner, Oregon (November 26, 2007) - BEO Bancorp, parent company of Bank of Eastern Oregon, today announced that its Board of Directors declared an annual cash dividend on its common stock of 55 cents per share for 2007. The dividend is payable on or before December 14, 2007, to shareholders of record at close of business as of November 30, 2007.
E. George Koffler, President and CEO, commented, "This dividend marks the 22nd year, without interruption, that the company has paid a dividend. The dividend, totaling $484,362, is the largest annual dividend the organization has ever paid and a strong signal of the Board's commitment to shareholder value."
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.
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.