Heppner Gazette-Times, Heppner, Oregon Wednesday, April 18,2012
- THREE
BEO reports 1st qrtr. earnings WYDEN IN BOARDMAN
Bank of Eastern Or
egon, a subsidiary of BEO
Bancorp, announced first
quarter 2012 consolidated
net income o f $675,014
or $0.71 per share, com
pared to $501,438 or $0.54
per share for first quarter
2011. Total assets were
$268.1 million, up 7.4%
year-over-year. Net loans
of $200.2 million were up
4.7% from the same period
in 2011, while deposits
were at $238.2 million, up
7.7% year-over-year.
“ We are pleased
with the first quarter re
sults. Our profitability and
growth trends show steady
improvement year over year
and especially over the past
three years. These trends
are among some of the best
in banking." said President
and CEO Jeff Bailey.
“ Return on aver
age assets is 1.02% and
return on average equity
is 14.93%, compared to
0.80% and 12.60%, re
spectively, year over year,”
said Chief Financial Officer
Mark Lemmon. Lemmon
went on to say, "Our core
earnings are very strong
and bode well for overall
profitability as the economy
improves. Profitability has
helped contribute to share
holders’ equity increasing
15.0% year over year. We
remain the best capitalized
bank in eastern Oregon.”
C hief Operations
O fficer Gary Propheter
BEO
Annual Shareholders’ Meeting
Wednesday, April 25, 2012
American Legion Hall, lone
2:00 p.m.
said, "Our strong growth
trend in deposits continues
even though the low interest
rate environment lingers.
Custom er confidence in
the safety and soundness
of Bank of Eastern Oregon
is gratifying and serves to
reinforce the confidence
we have in our employees
to deliver products and
services that meet the needs
o f our growing customer
base."
"Whileour problem
assets are more manageable
than a year ago, having
shown drastic improvement
over the past two to three
years, we continue to have
occasional surprises. To
combat this, we continue to
fund the loan loss reserve in
a prudent manner. Hie local
economy is heavily reliant
on agriculture and natural
resource-based businesses.
The strength in those sec
tors has had a positive effect
on our agricultural loan
portfolio in recent years and
should continue to support
our local economy in 2012.
Our hope is that the national
and global economy con
tinues to improve and our
regional picture remains
stable,” concluded Bailey.
Senator meets with company leadership to discuss
opportunities for growth in the region
•Continuedfrom PAGE ONE and operating a plant like
in Boardman last week.
Wyden visited the biore
finery to see the facility’s
progress first-hand and
discuss opportunities for
the biorefining industry in
Oregon.
ZeaChem, a devel
oper of biorefineries for the
conversion o f renewable
feedstocks into sustainable
fuels and chemicals, began
operations at the Board-
man facility in January of
this year.
“ I ’m pleased to
see the progress ZeaChem
has made here in Board-
man since my last visit and
proud o f the Oregonians
who helped build and oper
ate this plant,” said Wyden.
“The success of this biore
finery is a perfect example
of how Oregon is helping
to lead our nation towards
less reliance on fossil fuels
while creating jobs in our
rural areas.”
“ We’re happy to
have Senator Wyden back
to our Boardman facility,”
said Jim Imbler, president
and chief executive officer
o f ZeaChem . “ Building
prietary, high-yield core
technology produces inter
mediate chemicals acetic
acid and ethyl acetate, both
valuable building blocks
for products like paints,
lacquers and solvents. The
integrated biorefinery will
begin cellulosic ethanol
production later this year,
and the company plans on
building a commercial plant
based on the successful
operations at the Boardman
facility.
this takes a considerable
amount of planning and
cooperative effort across a
number of leaders in the re
gion. We’re thankful for all
the support we’ve received
from the community and
policy leaders at the local,
state and national level.
They’ve made this area an
ideal location for future
growth in the biorefining
industry.”
Z eaC hem ’s pro
X-Factor tryouts at
Wildhorse
minute to sing a capella.
The top 10 will be allowed
to perform for two minutes
with instrumental accom
paniment. One winning act
will be selected.
The w inner will
receive airfare, hotel and an
audition in front of the X-
Factor producers in Provi
dence, RI at the Dunkin’
Donuts Center on May 10.
Official rules may
be obtained by logging
on to www.myfoxtricities.
com.
Local talent may
get the chance to shine
on the big stage when X-
Factor, a Fox TV reality
singing show, holds audi
tions at Wildhorse Resort
on April 28.
Acts, either solo
singers or groups, are al
lowed to line up no earlier
than 6 a.m. at Cayuse Flail
in Wildhorse Resort. Regis
tration begins at 8 a.m. The
first 100 acts in line will get
to audition beginning at 9
a.m. Each act will have one
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____________ 215 S Court, Heppner____________
Blake's Ranch
$ 129;000
__________ 475 W Morgan, Heppner__________
2 Bedroom 1 bath home on 24.26
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24>26Jacres
325 West D. Street, Lexington
$175,000
2 apartments and shop building for Sale in
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145 E. Main, Lexington
3 B edroom 2 bath hom e in Lexington This
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Auto Repair Business in Heppner, OR This
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Lakeview C t. Heppner
150 E Main. Lexington. OR
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___________ 345 Linden 'Nay, Heppner__________
Phone: (541)676-9228
Cell: (541)980-6674
Fax: (541)676-9211
Phone: (541)276-2152
Cell: (541)215-2274
Fax: (541)278-6051
188 W Willow
P O Box 337
Heppner, OR 97836
Broker
Chris Sykes
d a v td Q s y k e s re a le s ta te . n e t
w w w .s y k e s re a le s ta te . n e t
25 SW Emigrant
Pendleton, OR 97801
c h ris @ s y k e s re e le s ta te . n e t
w w w .p e n d le to n p ro p e rty s . c om
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