Columbia Bancorp Increases Quarterly Cash Dividend 13%.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)--Dec. 19, 2003 Columbia Bancorp (Nasdaq:CBBO) today announced its Board of Directors has declared a $0.09 per share cash dividend. The quarterly dividend is payable January 30, 2004, to shareholders of record January 15, 2004. "This increase in our cash dividend reflects the Board's confidence in our business model and the improving economy in our key markets," said Roger Christensen, President and Chief Executive Officer. "Paying a larger cash dividend is a tangible way for us to share our continued success with our shareholders," added Donald T. Mitchell, Chairman. On October 22, 2003, Columbia reported third quarter net income increased 21% to $3.1 million, or $0.34 per diluted share compared to the corresponding quarter of 2002. Revenues increased 9% to $10.9 million for the quarter, compared to $10.0 million in the same quarter a year earlier. Assets grew 8% to $594.4 million, deposits increased 9% to $506.3 million and loans grew 7% to $460.3 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 Kennewick is a city in Benton County in southeastern Washington. It is the most populous of the three cities collectively referred to as the Tri-Cities (the others being Pasco and Richland). . 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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