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COMMERCIAL BANCORP DECLARES INCREASED DIVIDENDS FOR SHAREHOLDERS

 SALEM, Ore., Feb. 18 /PRNewswire/ -- The board of directors of Commercial Bancorp (NASDAQ: CBOR) has increased its dividend 20 percent to $0.075 per share as a result of continued record earnings, Bancorp President R.B. Tibbatts announced today.
 The dividend is payable April 25 to shareholders of record on March 29.
 Commercial Bancorp previously announced record 1993 earnings of $2,866,000, a 24-percent increase over the prior year and equivalent to a 1.22-percent return on average assets and a 14.39-percent return on average equity. The previous dividend amount was $0.0625 per share adjusted for the two-for-one stock split effective Jan. 25.
 Commercial Bancorp is the holding company for Commercial Bank and Valley Commercial Bank. Commercial Bank had assets of $227 million at Dec. 31, 1992, and employed 200 people in 12 offices in Salem, Keizer, Silverton, Monmouth, Molalla, Newberg and Wilsonville, Ore. Valley Commercial Bank had assets of $14 million at Dec. 31, 1992, and employed eight people in two offices in Forest Grove and North Plains, Ore.
 -0- 2/18/93
 /CONTACT: R.B. Tibbatts, president and chief executive officer, of Commercial Bancorp, 503-399-2946/
 (CBOR)


CO: Commercial Bancorp ST: Oregon IN: FIN SU: DIV

LM-JH -- SE005 -- 7962 02/18/93 14:05 EST
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Publication:PR Newswire
Date:Feb 18, 1993
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