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 reports banking developments as the holding company for Bank of the Pacific, with recurring updates centered on quarterly earnings, dividends, and balance-sheet trends. The company’s news commonly discusses net interest income, non-interest income and expenses, credit-loss provisions or recaptures, loan growth, investment securities, and capital levels.
Company updates also describe the bank’s relationship-banking model, commercial lending activity, asset-quality measures, and loan concentrations in Western Washington and Oregon markets. Capital actions such as cash dividends and stock repurchase authorizations are recurring subjects, alongside selected operational updates for Bank of the Pacific’s customer-facing banking services.
Pacific Financial Corporation (OTCQX: PFLC) reported a net income of $2.6 million ($0.25 per diluted share) for Q3 2021, down from $3.9 million in Q3 2020. The year-to-date net income rose 40% to $10.6 million ($1.01 per diluted share), aided by a $3.5 million recapture from loan loss provisions. The board declared a quarterly cash dividend of $0.13 per share, payable on November 25, 2021. Credit quality improved with a decrease in non-impaired loans and minimal non-performing assets at 0.15% of total assets, while total deposits rose by 17% year-over-year to $1.2 billion.
Pacific Financial Corporation (OTCQX: PFLC) reported a significant net income of $3.7 million or $0.36 per diluted share for Q2 2021, up 55% from Q2 2020. Year-to-date net income reached $8.0 million, up 121% year-over-year. The board declared a quarterly cash dividend of $0.13 per share, payable on August 26, 2021. Key highlights include a 17% rise in core deposits, credit quality improvements, and a 2% increase in gross loans, excluding PPP. However, net interest margin decreased to 3.06% from 3.70% the previous year due to low interest rates.
Pacific Financial Corporation (OTCQX: PFLC) reported a substantial increase in net income for Q1 2021, reaching $4.2 million ($0.40 per diluted share), compared to $1.2 million a year prior. The results were bolstered by a loan loss provision recapture of $1.4 million. The board declared a quarterly cash dividend of $0.13 per share, payable on June 2, 2021. Total assets rose by 34% year-over-year to $1.25 billion, with deposits climbing 38% to $1.10 billion, driven by strong growth in non-interest-bearing deposits and ongoing participation in the Paycheck Protection Program (PPP).