BEO Bancorp Declares Quarterly Cash Dividend
E. George Koffler, President & CEO, (541) 676-020l
Mark Lemmon, EVP & CFO, (541) 676-0201
Joey J. Warmenhoven, McAdams, Wright and Ragan, Market Maker, (866) 662-0351
Henry C. Stockman, Howe Barnes Hoefer & Arnett, Market Maker, (800) 346-5544
(OTC Bulletin Board: BEOB)
Heppner, Oregon (March 21, 2008) - BEO Bancorp, parent company of Bank of Eastern Oregon, today announced that its Board of Directors declared a quarterly cash dividend of $0.15 per share payable on April 11, 2008, to shareholders of record on March 31, 2008. Annualized, this dividend is an increase of 9.1% from the 2007 cash dividend payment of $0.55 per share.
This is the 23rd year in a row the Company has paid cash dividends. This is the first time the organization has paid a quarterly dividend. The board will continue to review its dividend policy. Cash dividends, when and if declared, will typically be paid in April, July, October, and January. The Board will continue to review a wide range of indicators including operating results, retained earnings, capital, and general market conditions in making decisions on future dividends.
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, Enterprise, and Ontario. Bank of Eastern Oregon also operates a mortgage division and offers brokerage services through BEO Financial Services. The bank’s website is www.beobank.com.