HEPPNER, Ore.--(BUSINESS WIRE)--“I am pleased to announce that the Board of Directors of BEO Bancorp has voted to declare a $0.50 per share dividend for 2012. The dividend will be paid to shareholders of record as of December 10, 2012, payable on or before December 15, 2012,” said President and CEO, Jeff Bailey.
According to Board Chairman, Bob Armstrong, “BEO Bancorp has paid a dividend 26 of the past 27 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 $0.50 per share is 25% higher than last year’s dividend of $0.40 per share and is indicative of Bank of Eastern Oregon’s strong capital position. The board of directors and employees of the bank have worked hard during the four year national financial crisis to improve the overall strength of the bank and enhance capital. 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 during a time when many banks have failed. We are pleased to be in a position to provide this dividend to our shareholders.”
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 (OTCBB:BEOB) is the holding company for Bank of Eastern Oregon, which operates 12 branches and four loan production offices in ten 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, and Pendleton. 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.