Eldorado Bancorp OKs Stock Buyback

Directors of Eldorado Bancorp, parent of Eldorado Bank, authorized the company to purchase up to $1 million of its common stock in open-market or negotiated transactions. The company had nearly 3.4 million shares outstanding on Wednesday.

Directors also declared a 10% stock dividend, payable Dec. 26 to shareholders of record Nov. 28. J.B. Crowell, president and chief executive officer of Eldorado Bancorp, said the stock dividend, the first stock payout in nearly six years, “reflects the excellent performance of the company,” which expects to report record earnings for 1995.