People’s Bank Declares Quarterly Cash Dividend
April 29 2009 - 4:39PM
Business Wire
The board of directors of People�s Bank of Commerce (OTCBB:PBCO)
announced that it has declared a cash dividend of $0.05 per share.
The dividend will be paid on or about June 1, 2009 to shareholders
of record May 15, 2009. This is a 5 cent decrease from prior
quarterly dividends of $0.10 per share.
The board carefully considered all recent economic conditions
affecting our community and the nation and felt it prudent to make
this change based on the bank�s recently reported level of
earnings. The Bank reported earnings for the first quarter of 2009
of $52,000 compared to $76,000 for the first quarter of 2008.
People�s Bank was organized in 1998 and operates from a main
office in Medford, Oregon with branches in Ashland and Central
Point, Oregon.
At March 31, 2009, the bank reported total assets of $86.5
million, total deposits of $72 million and total shareholders�
equity of $11.2 million. Shares are traded in the over-the-counter
bulletin board market under the symbol PBCO.
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