Local business

People's Bank of Commerce declares 5% stock dividend

People's Bank of Commerce has declared a 5 percent stock dividend, to be paid on or about April 15 to shareholders of record March 15.

The Medford-based community bank, organized in 1998, reported earnings of $875,000 for 2012, including $199,000 in the fourth quarter.

Home Federal Bank closes branch at 295 E. Barnett Road, Medford

Home Federal Bank has closed its south Medford branch at 295 E. Barnett Road along with three other Oregon offices.

Home Federal Bank, based in Nampa, Idaho, acquired 15 Oregon locations in July 2010 when federal regulators closed Eugene-based Liberty Bank.

Two Bend branches and one in Grants Pass also were closed. Home Federal Bank continues to operate an office on Biddle Road and one in Grants Pass.

Home Federal reported in a Securities and Exchange Commission filing last November it planned to reduce its office count. The bank said it would take a pretax hit of $539,000 during the final quarter of 2012, but reduce expenses by approximately $1.2 million annually going forward.

President and Chief Executive Officer Len Williams attributed the closures to increased electronic banking by customers.

Bank of the Cascades joins MoneyPass ATM network

Bank of the Cascades has joined the MoneyPass ATM network, providing more than 23,000 surcharge-free ATM locations to customers.

MoneyPass Network ATMs are found throughout the Pacific Northwest as well as nationwide. A "MoneyPass Locator" is available online at botc.com and moneypass.com. There also is a smartphone app available.

Bank of Cascades also replaced or upgraded branch ATMs with improved ADA access and options for Oregon Trail cardholders.

Compiled from staff reports

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