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DIVIDENDS DECLARED FOR COMMERCIAL BANCORP SHAREHOLDERS

 DIVIDENDS DECLARED FOR COMMERCIAL BANCORP SHAREHOLDERS
 SALEM, Ore., May 28 /PRNewswire/ -- The board of directors of Commercial Bancorp (NASDAQ: CBOR) announced a quarterly cash dividend for shareholders of $0.125 per share as a result of continued strong earnings, Bancorp President R.B. Tibbatts announced today.
 The cash dividend will be paid on July 25 to shareholders of record on June 29, with an X-date of June 23. This X-date is different from that which was previously announced.
 "The board of directors is pleased at the continued strong performance of the company," Tibbatts said, "and wishes to share these good results with our shareholders."
 The board of directors of Commercial Bancorp also declared a 5-percent stock dividend on its common stock payable on Aug. 13 to stockholders of record as of June 30, with an X-date of June 24. This X-date is also different from that which was previously announced.
 Commercial Bancorp previously announced record 1991 earnings of $2,304,000, an 18-percent increase over the prior year, equivalent to a 1.10-percent return on average assets. First-quarter 1992 earnings were a record $673,000, an 18-percent increase over the first quarter of 1991, representing a 1.18-percent return on average assets.
 Commercial Bancorp is the parent company of Commercial Bank, headquartered in Salem, with 12 branches throughout the mid-Willamette Valley, and Valley Commercial Bank, headquartered in Forest Grove, with additional branches in North Plains and Vernonia.
 -0- 5/28/92
 /CONTACT: R.B. Tibbatts of Commercial Bancorp, 503-399-2946/
 (CBOR) CO: Commercial Bancorp ST: Oregon IN: FIN SU: DIV


SC-LM -- SE013 -- 4999 05/28/92 18:39 EDT
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Publication:PR Newswire
Date:May 28, 1992
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