Welcome to our dedicated page for Pacific Fnl news (Ticker: PFLC), a resource for investors and traders seeking the latest updates and insights on Pacific Fnl stock.
Pacific Financial Corporation (OTCQX: PFLC) is the Aberdeen, Washington-based holding company for Bank of the Pacific, a state chartered and federally insured commercial bank serving small-to-medium sized businesses and professionals in Western Washington and Oregon. This news page collects company-issued updates and market announcements related to PFLC and its banking subsidiary.
Readers can find recurring coverage of quarterly and annual earnings releases, where Pacific Financial reports net income, net interest income, net interest margin, loan and deposit trends, credit quality metrics and capital ratios. These releases often describe how loan growth, deposit mix and funding costs affect the bank’s performance, and they highlight themes such as core deposit composition, allowance for credit losses and noninterest income and expense trends.
The news flow also includes corporate actions such as quarterly cash dividend declarations and authorizations for stock repurchase plans, along with commentary from management on capital management and shareholder returns. Operational updates, for example the closure of the mortgage banking division or the opening of a new commercial banking center in Lake Oswego, Oregon, appear in company announcements as well.
In addition, Pacific Financial and Bank of the Pacific issue releases about branch network developments, technology enhancements and governance matters. Examples include the launch of a redesigned Bank of the Pacific website, the opening of new locations, and appointments to the Pacific Financial and Bank of the Pacific boards of directors.
For investors and observers following PFLC stock, this news page offers a centralized view of how the company describes its financial results, regional banking activities and strategic decisions over time.
Pacific Financial (OTCQX: PFLC), the holding company for Bank of the Pacific, has appointed Peter Dworkin to its Board of Directors. Dworkin, a respected attorney with over 24 years of legal experience, brings expertise in real estate contracts, land use issues, and litigation. He has strong ties to Whatcom County and previously served on the board of Whatcom County Domestic Violence and Sexual Assault Services.
Dworkin holds a bachelor's degree in Political Science from Western Washington University and a juris doctorate from the University of Oregon. Denise Portmann, President and CEO of Pacific Financial , expressed enthusiasm about Dworkin joining the team, citing his diverse skills and legal expertise as valuable additions to the board.
Pacific Financial (OTCQX: PFLC) announced the retirement of Randy Rust from its Board of Directors, effective May 14, 2024. Randy joined the Board in 2003 and has since served in various roles including Chairman of the Information Technology and Building Committees, and member of the Audit and Director Loan Committees. Denise Portmann, President and CEO, lauded Randy's 21 years of dedicated service, leadership, and fiscal responsibility. Prior to his tenure at PFLC, Randy was co-owner of Westport Shipyard until 2000. He holds a Bachelor's degree in History and Political Science from Western Washington University and is a graduate of the Oregon Bankers Association Directors College.
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Pacific Financial Corporation (OTCQX: PFLC) reported net income of $4.7 million ($0.45 per diluted share) for Q4 2022, a 62% increase from Q3 2022. Yearly net income decreased 14% to $10.9 million. Key highlights for Q4 include a 19% increase in net interest income to $12.9 million and a 70 basis points expansion in net interest margin (NIM) to 4.12%. The company declared a quarterly cash dividend of $0.13 per share, payable on February 24, 2023. Despite an annual decrease in net income and core deposits, the bank achieved strong asset quality and capital ratios exceeding regulatory requirements.
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