MEDFORD, Ore.--(BUSINESS WIRE)--The board of directors of People’s Bank of Commerce (OTCBB:PBCO) announced that it has declared a five percent stock dividend. The five percent stock dividend will be paid on or about April 15, 2015 to shareholders of record March 16, 2015.
The locally-owned community bank recently reported earnings of $1,196,000 for 2014, including $323,000 in the quarter ended December 31, 2014.
People’s Bank was organized in 1998 and operates from its main office at the corner of Highland and Barnett in Medford with branch offices in Medford, Ashland, Central Point and Grants Pass, Oregon.
At December 31, 2014, the bank reported an annual growth of 18 percent in total assets to $214.7 million, and an annual growth in total deposits of 20 percent to $190.6 million while maintaining over 10.4 percent capital with total shareholders’ equity of $22.5 million.
Ken Trautman, President and CEO, commented, “It is our privilege to once again recognize and reward the loyalty and support of our shareholders. The success of the bank is due to the tremendous support of the many shareholders and customers who live and work in the Rogue Valley.” Trautman continued, “The end of 2014 marked our twenty-second consecutive quarter of profitability since the recession began. This profitability provides the capital to support growth and allows a well-earned stock dividend to shareholders.”