BEO Bancorp Declares Two for One Stock Split
August 01 2007 - 12:38PM
Business Wire
BEO Bancorp (OTCBB:BEOB) today announced that its Board of
Directors declared a two for one stock split in the form of a 100%
stock dividend. The shares will be distributed on August 20, 2007,
to shareholders of record as of August 19, 2007. Shareholders will
receive one additional share of common stock for every share
currently owned. BEO Bancorp has 440,329 shares outstanding and
will have 880,658 shares outstanding after the stock split. �We are
intent on building shareholder value. This move will seek to
improve the liquidity of the stock and increase our franchise
value,� said E. George Koffler, President and CEO of BEO Bancorp
and its subsidiary, Bank of Eastern Oregon. �We continue to post
good results and are pleased to share our good fortune with the
loyal group of shareholders we have,� said Koffler. Late in July,
BEO Bancorp reported net income increased 73% year over year for
the first half of 2007 to $1,039,000 and earning per share improved
for the same period from $.81 per share to $1.32 per share. The
loan portfolio grew 9.9% year over year and total assets grew 7.3%
to $196,252,000. 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 11
branches and three loan production offices in nine eastern Oregon
counties. Branches are located in Arlington, Ione, Heppner, Condon,
Irrigon, Boardman, Burns, John Day, Prairie City, Fossil and Moro;
loan production offices are located in Hermiston, Ontario, and
Enterprise. Bank of Eastern Oregon also operates a mortgage
division and offers brokerage services through BEO Financial
Services. Bank of Eastern Oregon�s website is www.beobank.com.
Forward-Looking Statements The statements contained in this release
that are not historical facts are forward-looking statements based
upon management�s current expectations and beliefs concerning
future developments and their potential effect on BEO Bancorp.
There can be no assurances that future developments affecting BEO
Bancorp will be the same as those anticipated by management. Actual
results may differ from those projected in the forward-looking
statements. These forward-looking statements involve risks and
uncertainties. These risks and uncertainties include, but are not
limited to: (1) competitive pressures in the banking and financial
industries; (2) changes in interest rate environment; (3) general
economic conditions, nationally, regionally, and in operating
markets; (4) changes in regulatory environment; (5) changes in
business conditions and inflation; (6) changes in securities
markets; and (7) future credit loss experience.
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