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November 20, 2013 - Citizens Bancorp Announces Cash Dividend

On November 19th, 2013 the Board of Directors of Citizens Bancorp declared a cash dividend to be paid to all shareholders of record on December 6, 2013. The Company declared a cash dividend equal to $0.40 per share of common stock, and $0.43 per share to holders of preferred stock. This dividend will be paid on or before January 10, 2014.

Bill Humphreys Sr., President/CEO of Citizens Bancorp and Citizens Bank stated, “We are pleased to continue our tradition of paying an annual cash dividend, particularly during this period of economic uncertainty. We are hopeful that the payment of a cash dividend will give some degree of financial assistance to our shareholders, who have been extraordinarily loyal and supportive. The Bank continues to be safe, sound and profitable.”  

To purchase stock or receive additional dividend information, contact Lisa Ladouceur, Stock Transfer Agent, Citizens Bancorp, 541-766-2261.

July 23, 2013 - Citizens Bancorp Announces Stock Repurchase Program

CORVALLIS, Ore., July 23, 2013 - Citizens Bancorp, the holding company of Citizens Bank, today announced that its Board of Directors recently authorized the repurchase of up to 5 percent of the Company’s outstanding common shares, or approximately 237,389 shares.  The Board of Directors also authorized the repurchase of up to 100 percent of the Company’s outstanding series-A preferred stock, or approximately 354,325 shares.  The stock repurchase program will commence on July 26, 2013, and purchases may be made from time-to-time thereafter at the Company’s discretion.

 

The Company will periodically assess Bancorp common and preferred shares available for sale on the open market and may make purchases through open-market transactions.  The number, timing and price of share repurchases will depend on several factors, including but not limited to business and market conditions.  The Company is under no obligation to repurchase a specific number or dollar amount of shares. Bancorp may reevaluate the program periodically and may at any time suspend, limit, modify or terminate its repurchase program without prior notice.

 

At June 30, 2013, the Company had consolidated assets of $500 million and shareholders’ equity of $60.9 million.  Its capital ratio (or Tier-1 leverage ratio) was 12.22% and its book value was $11.94 per share.  The most recently recorded transaction prices for Citizens Bancorp common stock were between $10.00 and $10.75 per share.  The most recently recorded transaction prices for Citizens Bancorp series-A preferred stock were at $12.00 per share.

 

About Citizens Bank:

 

Citizens Bank, the operating subsidiary of Citizens Bancorp, proudly provides comprehensive banking services throughout the Willamette Valley in Oregon.  Since its inception in 1957, the Bank has become one of the area’s premier community banks.  Its employees provide personalized banking services to businesses and individuals at each of its 13 branch offices and its loan production center.

 

For further information contact:

 

Bill Humphreys Sr., President and CEO
or
Cameron R. Howell, Chief Financial Officer

 

Citizens Bank
275 SW 3rd St.
Corvallis, OR 97333
(541) 752-5161

May 22, 2013 - Nine Oregon Bankers Graduate from the Northwest Bank Operations School

SALEM, Ore., May 21, 2013 – The Oregon Bankers Association announced the graduates of the 2013 Northwest Bank Operations School, a program co-sponsored by the Oregon, Idaho, and Washington Bankers Associations.

 
The School provides participants with the opportunity to explore the major issues facing bank operations personnel.  Over an eight month span, participants worked toward strengthening their leadership and management skills and gained an understanding of the interrelatedness of key operations areas and how they contribute to a bank's success.
OBA Chair Mark Stevenson, president and CEO of Capital Pacific Bank, spoke on the importance of industry and community involvement at the graduation ceremony, held Thursday, May 16, 2013 in Salem, Oregon.  Congratulations to the following graduating students:

 

Jolene Cox, Branch Manager
Bank of Eastern Oregon, Enterprise, Oregon

Stephanie Crapser, Operations Supervisor
Siuslaw Bank, Eugene, Oregon

Debra Heilman, AAP, Operations Officer
Citizens Bank, Corvallis, Oregon

Alyssa Lewis, New Accounts Representative
Citizens Bank, Corvallis, Oregon

Justin Miller, Assistant Branch Manager/ Operations Manager
Oregon Pacific Bank, Florence, Oregon

Nicole Oakes, Accounting Officer
The Bank of Oswego, Lake Oswego, Oregon

Lindsey Purtyman, CSR/Lead Operations
First Federal, McMinnville, Oregon

Marcie Quintana, Loan Assistant
Oregon Coast Bank, Newport, Oregon

Monica Tribys-Colombi, CSR/Lead Operations
First Federal, McMinnville, Oregon

The 2014 Northwest Bank Operations School, scheduled to begin in March 2014, will launch a redesigned program that will prepare bank operations personnel for 21st centry challenges in a convenient new format.  Bankers will have the option to register for the full School and receive a graduation diploma upon completion, or they can register for individual sessions to boost their knowledge in specific areas.  No matter the case, participants will leave with an enhanced understanding of their role within their financial institution.

 

 

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