HEPPNER BEO Bancorp and its subsidiary, Bank of Eastern Oregon, announced consolidated year- end 2012 earnings of $2,462,000, up 22.4 percent from 2011.
Basic earnings per share increased 17 percent from $2.18 in 2011 to $2.55 in 2012. Total assets increased 9.4 percent from $260.4 million to $284.8 million. Net loans ended 2012 at $224.8 million, up 12.4 percent year over year. Deposits increased 9.8 percent from $230.3 million to$252.9 million.
We are very pleased with the 2012 results. This is the best year the bank has ever had from a net income perspective, said Jeff Bailey, president and CEO. He cited a strong regional agricultural economy as a factor in the strong showing.
BEO Bancorp is the holding company for Bank of Eastern Oregon, which operates 12 branches in cities including John Day, Prairie City and Burns.