In light of the record profitability experienced during 2000 and in keeping with past experience, the bank holding company's board of directors is declaring an 11-for-10 (10%) split of its common stock. The news shares will be distributed Feb. 23 to shareholders of record by Feb. 2.

According to Centennial president and CEO Ted Winnowski, the increased earnings were achieved "at a time when the costs of obtaining funding were rising significantly." Winnowski adds that technology investments are being made to handle the demands of deposit-intense companies, and that the company's online banking service should operational in April.

During 2000, Centennial Bancorp's total assets increased by 17% to $849.431 million. Total earning assets increased 18%. Centennial Bancorp is a 19-year-old bank holding company for the 20-offiice Centennial Bank that will expand to 22 offices this year. The other Centennial Bancorp subsidiary, Centennial Mortgage Co., has two offices.