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Bank of Eastern Oregon announces dividend for 2013

Heppner Gazette-Times of Heppner, Oregon

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Bank of Eastern Oregon announced its 2013 shareholder dividend last Wednesday.

"I am pleased to announce that the board of directors of BEO Bancorp has voted to declare a $0.55 per share dividend for 2013. The dividend will be paid to shareholders of record as of Nov. 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 percent higher than last year's dividend of $0.50 per share and is indicative of Bank of Eastern Oregon's strong capital position," said Bailey. "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."

Bailey concluded the announcement 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."

For further information on the company or to access internet banking, visit the website at

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Original Publication Date: November 20, 2013

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