[5]The Board of Directors of Bank of Eastern Oregon (OTCBB:BEOB) announced Jeff Bailey has been named President of Bank of Eastern Oregon effective July 1, 2008, subject to regulatory approval. Bailey has been at Bank of Eastern Oregon since 1996 and currently serves as Chief Credit Officer and is on the executive management team. He will retain the title of Chief Credit Officer.
The current president of the bank, E. George Koffler, will retain his title of Chief Executive Officer of Bank of Eastern Oregon and President and Chief Executive Officer of BEO Bancorp, the bank’s holding company. This announcement is a planned management succession move coinciding with Koffler’s announcement of a retirement date of March 31, 2009.
“Jeff was a natural choice for the bank. He exemplifies the core values and business ethics the organization has embraced. He is the right person to lead the bank as we continue to grow at a measured pace and build on our excellent profitability of the past few years,” said Chairman of the Board, Linda K. LaRue.
About BEO Bancorp
BEO Bancorp is the holding company for Bank of Eastern Oregon, which operates 11 branches and three loan production offices in nine eastern Oregon counties. Branches are located in Arlington, Ione, Heppner, Condon, Irrigon, Boardman, Burns, John Day, Prairie City, Fossil and Moro; loan production offices are located in Hermiston, Enterprise, 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 [6].