People’s Bank Declares 5% Stock Dividend
February 25 2015 - 7:12PM
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.”
People’s Bank of CommerceKen Trautman, 541-774-7654President and
CEO
PBCO Financial (PK) (USOTC:PBCO)
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