pacific financial corp (PFLC) Key Developments
Pacific Financial Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014
Feb 2 15
Pacific Financial Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total interest and dividend income of $7,336,000 against $6,814,000 a year ago. Net interest income was $6,800,000 against $6,251,000 a year ago. Income before income taxes was $1,594,000 against $1,051,000 a year ago. Net income applicable to common shareholders was $1,121,000 or $0.11 per basic and diluted share against $789,000 or $0.08 per basic and diluted share a year ago. Return on average equity 0.59% against 0.45% a year ago. Return on average assets was 5.98% against 4.53% a year ago. Tangible book value per common share was $5.69 against $5.26 a year ago. Book value per share was $7.00 against $6.60 a year ago.
For the full year, the company reported total interest and dividend income of $29,158,000 against $26,292,000 a year ago. Net interest income was $27,033,000 against $23,800,000 a year ago. Income before income taxes was $6,657,000 against $4,703,000 a year ago. Net income was $4,927,000 or $0.48 per basic and diluted share against $3,731,000 or $0.37 per basic and diluted share a year ago. Return on average equity 0.68% against 0.55% a year ago. Return on average assets was 6.92% against 5.48% a year ago.
Pacific Financial Corp. Presents at FIG Partners 6th Annual West Coast CEO Forum, Feb-05-2015 08:00 AM
Jan 29 15
Pacific Financial Corp. Presents at FIG Partners 6th Annual West Coast CEO Forum, Feb-05-2015 08:00 AM. Venue: Palace Hotel, San Francisco, California, United States. Speakers: Denise Portmann, Corporate Secretary, Director, Chief Executive Officer of Bank of The Pacific and President of Bank of The Pacific, Dennis A. Long, Chief Executive Officer, President and Director, Douglas A. Biddle, Executive Vice President and CFO, Bank of the Pacific.
Pacific Financial Corp. and Bank Of the Pacific Appoint Kristi Gundersen to its Board of Directors
Jan 26 15
Pacific Financial Corporation announced that Kristi Gundersen has been appointed to its Board of Directors and the Board of Directors of Bank Of the Pacific. She will begin serving her initial one-year term on February 18, 2015. Kristi Gundersen is a partner of Knutzen Farms, LP. Gundersen serves as the Chief Financial Officer and heads up the Sales Division for Knutzen Farms.
Dennis A. Long Retires as President and Chief Executive Officer of Pacific Financial Corporation, Effective June 1, 2015; Declares Cash Dividend, Payable on January 15, 2015
Dec 22 14
On December 17, 2014, Dennis A. Long, President and Chief Executive Officer of Pacific Financial Corporation notified the company of his decision to retire from the company, effective June 1, 2015. While a successor has not been appointed at this time, the company does have a succession plan to ensure there is no business interruption created by any executive departure.
On December 19, 2014, the company announced that its board of directors declared a cash dividend in the amount of $0.21 per share to all shareholders of record as of January 2, 2015, payable on January 15, 2015.
Pacific Financial Corp. Declares Annual Cash Dividend, Payable on January 10, 2015
Dec 19 14
Pacific Financial Corp. announced that its Board of Directors increased the annual cash dividend to $0.21 per share, to holders of common stock. The dividend will be payable on January 10, 2015, to shareholders of record on December 31, 2014.