BEO Bancorp announces dividend for 2010
Jeff Bailey, President and CEO (541) 676-0201
Mark Lemmon, EVP & CFO, (541) 676-0201
Heppner, Oregon, (November 18, 2010) “I am pleased to announce that the Board of Directors of BEO Bancorp has voted to declare a $0.20 per share dividend for 2010. The dividend will be paid to shareholders of record as of December 6, 2010, payable on or before December 15, 2010,” said president and CEO, Jeff Bailey.
According to Board Chairman, Brad Anderson, “BEO Bancorp has paid a dividend 24 of the past 25 years. Dividends are a reflection of the financial stability and profitability of the bank. We are very happy to be able to provide this dividend to our shareholders.”
“In 2009, the board of directors made the prudent decision to forego payment of dividends during the recent recession. The actions helped to strengthen capital and complimented the successful capital raise of last winter. The board will continue to assess overall economic conditions and make decisions that are in the long term best interest of our shareholders, customers, employees, and communities,” concluded Bailey.
For further information on the company or to access internet banking, please visit our website at www.beobank.com.
About BEO Bancorp
BEO Bancorp is the holding company for Bank of Eastern Oregon, which operates 12 branches and two loan production offices in nine eastern Oregon counties. Branches are located in Arlington, Ione, Heppner, Condon, Irrigon, Boardman, Burns, John Day, Prairie City, Fossil, Moro and Enterprise; loan production offices are located in Hermiston 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.