BEO Bancorp Announces Dividend for 2011
19 November 2011 - 3:54AM
Business Wire
“I am pleased to announce that the board of directors of BEO
Bancorp (OTCBB:BEOB) voted to declare a $0.40 per share dividend
for 2011. The dividend will be paid to shareholders of record as of
December 1, 2011, payable on or before December 15, 2011,” said
President and CEO, Jeff Bailey.
According to Board Chairman, Brad Anderson, “BEO Bancorp has
paid a dividend 25 of the past 26 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 2010, the board of directors authorized a dividend of $0.20
per share. Being able to double last year’s dividend in 2011 is a
testament to the strides we have made over the past few years in
dealing with the challenges of the economic downturn. The directors
have made decisions over the past three years which have improved
the overall strength of the bank, enhanced our capital levels, and
placed the bank on solid footing as the lasting effects of the
‘great recession’ play out. We continue to be the
highest-capitalized bank in eastern Oregon,” said Bailey. He
concluded by saying, “We are pleased with the support of our
employees, shareholders, and communities. They make it possible for
us to succeed.”
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 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.
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