BEO Bancorp Announces Dividend for 2011

“I am pleased to announce that the board of directors of BEO Bancorp (OTCBB:BEOB) voted to declare a $0.40 per share dividend for 2011. The dividend will be paid to shareholders of record as of December 1, 2011, payable on or before December 15, 2011,” said President and CEO, Jeff Bailey.

According to Board Chairman, Brad Anderson, “BEO Bancorp has paid a dividend 25 of the past 26 years. Dividends are a reflection of the financial stability and profitability of the bank. We are very happy to be able to provide this dividend to our shareholders.”

“In 2010, the board of directors authorized a dividend of $0.20 per share. Being able to double last year’s dividend in 2011 is a testament to the strides we have made over the past few years in dealing with the challenges of the economic downturn. The directors have made decisions over the past three years which have improved the overall strength of the bank, enhanced our capital levels, and placed the bank on solid footing as the lasting effects of the ‘great recession’ play out. We continue to be the highest-capitalized bank in eastern Oregon,” said Bailey. He concluded by saying, “We are pleased with the support of our employees, shareholders, and communities. They make it possible for us to succeed.”

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 12 branches and two loan production offices in nine eastern Oregon counties. Branches are located in Arlington, Ione, Heppner, Condon, Irrigon, Boardman, Burns, John Day, Prairie City, Fossil, Moro, and Enterprise; loan production offices are located in Hermiston and Ontario. Bank of Eastern Oregon also operates a mortgage division and offers brokerage services through BEO Financial Services. The bank’s website is www.beobank.com.