COOS BAY, Ore. -- Western Bank declared a special 30-cent cash dividend and announced it is considering a combination of both cash and stock dividends in future periods.
Although Western Bank has annually declared 10% stock dividends during recent years, it has not paid cash dividends since 1981.
The special cash dividend declared Thursday was made "in recognition of the strong earnings performance of the bank during the first three quarters of 1993." For the nine-month period ended Sept. 30, Western Bank reported net income of $6.8 million, or 93 cents a share.
