Columbia Bancorp Declares $0.09 Quarterly Cash Dividend.Business Editors THE DALLES dalles pl.n. The rapids of a river that runs between the steep precipices of a gorge or narrow valley. [French, pl. of dalle, gutter, from Old French, from Old Norse dæla.] , Ore.--(BUSINESS WIRE)--March 19, 2004 Columbia Bancorp (Nasdaq:CBBO) today announced its Board of Directors has declared a $0.09 per share cash dividend. The quarterly dividend is payable April 30, 2004, to shareholders of record April 15, 2004. "Paying a cash dividend is an effective way for us to reward our shareholders and manage capital," said Roger Christensen, President and Chief Executive Officer. "This represents an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. yield of 2.1% based on the recent stock price." On January 28, 2004, Columbia reported fourth quarter net income grew 29% to $2.9 million, or $0.32 per diluted share, compared to the corresponding quarter of 2002. For the full year 2003, net income increased 5% to $9.8 million, or $1.09 per diluted share, compared to 2002. Revenue for the fourth quarter grew 8% to $10.0 million, compared to $9.3 million in the like quarter a year ago. For the full year of 2003, revenue totaled $40.3 million, a 5% increase from $38.4 million in 2002. Assets grew 7% to $584.1 million, deposits increased 9% to $496.4 million and loans grew 7% to $472.4 million from year ago levels. Columbia Bancorp (www.columbiabancorp.com) is the financial holding company for Columbia River Columbia River River, southwestern Canada and northwestern U.S. Rising in the Canadian Rockies, it flows through Washington state, entering the Pacific Ocean at Astoria, Ore.; it has a total length of 1,240 mi (2,000 km). Bank, which operates 18 branches located in The Dalles (2), Hood River The Hood River is a tributary of the Columbia River in northwestern Oregon in the United States. Approximately 25 mi (40 km) long from its mouth to its farthest headwaters on the East Fork, the river descends from wilderness areas in the Cascade Range on Mount Hood and flows , Bend (3), Madras, Redmond, Pendleton, Hermiston, McMinnville (3), Canby and Newberg, Oregon Newberg is a city in Yamhill County, Oregon, United States. A tradition holds that this town was named by its first postmaster, Sebastian Brutscher, for his former hometown of Neuberg in Germany. One of the current streets, Brutscher Street, is named after him. , and in Goldendale, White Salmon and Kennewick, Washington. In addition to its community banking services, Columbia River Bank also provides mortgage-lending services through its Columbia River Bank Mortgage Group and brokerage services through its affiliations with CRB CRB See: Commodity Research Bureau. Financial Services. |
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