BEO Bancorp announces dividend for 2013
Jeff Bailey, President and CEO (541) 676-0201
Mark Lemmon, EVP & CFO, (541) 676-0201
Heppner, Oregon, (November 13, 2013) “I am pleased to announce that the Board of Directors of BEO Bancorp (OTCBB: BEOB) has voted to declare a $0.55 per share dividend for 2013. The dividend will be paid to shareholders of record as of November 29, 2013, payable on or before December 15, 2013,” said President and CEO, Jeff Bailey.
According to Board Chairman, Bob Armstrong, “BEO Bancorp has paid a dividend 27 of the past 28 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.”
“The dividend of $0.55 per share is 10% higher than last year’s dividend of $0.50 per share and is indicative of Bank of Eastern Oregon’s strong capital position. Most of the lingering effects of the prolonged “great recession” are behind us. The board of directors and employees work hard to improve the overall strength of the bank, add value to our shareholders, as well as provide the brand of banking that our customers appreciate and expect from Bank of Eastern Oregon. We continue to look for opportunities to expand our market share in eastern Oregon,” said Bailey. He concluded by saying, “The support of our shareholders, communities, and employees have made it possible for us to succeed. We are pleased to be in a position to provide this dividend to our shareholders."
About BEO Bancorp
BEO Bancorp is the holding company for Bank of Eastern Oregon, which operates 12 branches and five loan production offices in eleven 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, Ontario, Island City, Pendleton, and Lakeview. Bank of Eastern Oregon also operates a mortgage division. The bank’s website is www.beobank.com.