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DIVIDENDS DECLARED FOR COMMERCIAL BANCORP SHAREHOLDERS

 SALEM, Ore., May 21 /PRNewswire/ -- The board of directors of Commercial Bancorp (NASDAQ: CBOR) announced a quarterly cash dividend for shareholders of $0.075 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 25 with an X-date of June 21.
 "The board of directors are pleased at the continued strong performance of the company," Tibbatts said, "and wishes to share these good results with our shareholders."
 Commercial Bancorp previously announced record 1992 earnings of $2,866,000, a 24-percent increase over the prior year, equivalent to a 1.22-percent return on average assets. First-quarter 1993 earnings were a record $718,000, a 7-percent increase over the first quarter of 1992, representing a 1.24-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, Ore., with an additional branch in North Plains, Ore.
 -0- 5/21/93
 /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-AL -- SE012 -- 1405 05/21/93 20:25 EDT
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Publication:PR Newswire
Date:May 21, 1993
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