HEPPNER — The Bank of Eastern Oregon, a subsidiary of BEO Bancorp, announced consolidated earnings of just over $14.2 million for 2023. Total assets were $860.6 million, net loans were $521.9 million and deposits ended the year at $776.4 million.

Shareholder equity was up by 28.2% over the previous year, with return on average equity of 24.91% and return on average assets of 1.62%. BEO posted earnings per share of $11.75 and paid a dividend of $1.15 per share, the highest dividend ever paid out by the bank, officials said.

Deposits were down 5.2% compared with the end of 2022, which bank officials said was in line with industry trends. Loan volume was up 6.8% for the year, due in part to BEO’s acquisition of Farmington State Bank’s loans and deposits during the third quarter. The bank also converted its Caldwell, Idaho, loan production office into a full-service branch, officials said.

The Bank of Eastern Oregon operates 21 branches in Oregon, Washington and Idaho, including locations in John Day and Prairie City.