People`s Bank Declares 5% Stock Dividend
MEDFORD, Ore.--(Business Wire)-- The board of directors of People`s Bank of Commerce (OTCBB:PBCO) announced that it had declared a five percent stock dividend - for the eighth year in a row. The five percent stock dividend will be paid on or about April 15, 2009 to shareholders of record March 16, 2009. 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." This is the eighth consecutive year that the bank has paid a five percent stock dividend. In addition to this annual stock dividend, in March, the bank paid a quarterly cash dividend of $0.10. "Combined with the quarterly cash dividends, this 5 percent stock dividend results in a very attractive return to many shareholder investors," said Trautman. At December 31, 2008 People`s Bank reported 16.16% total risk-based capital. This is substantially above the regulatory amount required to be "well capitalized." People`s Bank elected to NOT take TARP funds. People`s Bank of Commerce President and CEO Ken Trautman, 541-774-7654 Copyright Business Wire 2009
