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Last $6.40 USD
Change Today -0.10 / -1.54%
Volume 4.2K
PFLC On Other Exchanges
Symbol
Exchange
OTC US
As of 8:10 PM 08/3/15 All times are local (Market data is delayed by at least 15 minutes).

pacific financial corp (PFLC) Snapshot

Open
$6.54
Previous Close
$6.50
Day High
$6.60
Day Low
$6.40
52 Week High
12/15/14 - $6.90
52 Week Low
10/15/14 - $6.05
Market Cap
66.4M
Average Volume 10 Days
2.1K
EPS TTM
$0.49
Shares Outstanding
10.4M
EX-Date
12/30/14
P/E TM
13.1x
Dividend
$0.21
Dividend Yield
3.28%
Current Stock Chart for PACIFIC FINANCIAL CORP (PFLC)

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pacific financial corp (PFLC) Details

Pacific Financial Corporation operates as the holding company for Bank of the Pacific that provides banking products and services to small to medium-sized businesses and professionals in the coastal region of western Washington. The company generates various deposit products, including non-interest bearing checking accounts, interest-bearing checking and savings accounts, money market accounts, and certificates of deposits. Its loan portfolio includes commercial and agricultural loans, such as secured revolving operating lines of credit, equipment financing, accounts receivable and inventory financing, and business term loans; commercial real estate and multifamily loans; single-family residential construction loans; single-family residential real estate loans; residential mortgage loans; and consumer and other loans, which comprise new and used auto loans, boat loans, and personal lines of credit. The company also offers services, including sweep accounts, wire services, safety deposit boxes, online banking, mobile banking, cash management, and other treasury management services, as well as provides trust preferred securities. As of March 31, 2015, the company operated 17 branches in the communities of Grays Harbor, Pacific, Whatcom, Skagit, Clark, and Wahkiakum counties in the state of Washington; and 3 branches in Clatsop County, Oregon, as well as loan production offices in the communities of DuPont and Burlington in Washington and Salem, Oregon. The company was founded in 1978 and is headquartered in Aberdeen, Washington.

234 Employees
Last Reported Date: 03/26/15
Founded in 1978

pacific financial corp (PFLC) Top Compensated Officers

Chief Executive Officer, President, Corporate...
Total Annual Compensation: $187.9K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $168.8K
Chief Credit Officer of Bank of The Pacific a...
Total Annual Compensation: $181.6K
Compensation as of Fiscal Year 2014.

pacific financial corp (PFLC) Key Developments

Pacific Financial Corp. Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Net-Charge Off for the Second Quarter Ended June 30, 2015

Pacific Financial Corp. announced unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported profits increased 44% to $1.6 million, or $0.15 per share, for the second quarter of 2015, compared to $1.1 million or $0.11 per share for the first quarter of 2015, and grew 13% from $1.4 million, or $0.14 per share, for the second quarter a year ago. Net interest income grew $366,000, or 5%, to $7.3 million, compared to $6.9 million for the immediate prior quarter, and grew 7% from $6.8 million in the second quarter of 2014. Income before provision for income taxes was $2,193,000 compared to $1,806,000 a year ago. Return on average assets, annualized was 0.82% compared to 0.79% a year ago. Return on average equity, annualized was 8.44% compared to 8.04% a year ago. Book value per common share was $7.25 compared to $6.94 a year ago. For the first six months of 2015, net income increased 10% to $2.7 million, or $0.26 per share, from $2.4 million, or $0.24 per share, for the like period in 2014. Net interest income increased 6% to $14.2 million from the like period in 2014. Income before provision for income taxes was $3,576,000 compared to $3,139,000 a year ago. Return on average assets, annualized was 0.71% compared to 0.69% a year ago. Return on average equity, annualized was 7.27% compared to 7.10% a year ago. For the quarter ended June 30, 2015, the company reported net charge offs negative to $94,000 against $73,000 a year ago.

Pacific Financial Corporation Announces Management Changes, Effective May 1, 2015

Dennis A. Long, the long-time President and Chief Executive Office of Pacific Financial Corporation retired effective as of May 1, 2015. In anticipation of Mr. Long's retirement, on April 29, 2015, the Board of Directors of the Company appointed Denise Portmann as President and Chief Executive Officer, also effective May 1, 2015. This appointment was part of a succession plan initiated last year in connection with the planned retirement of Mr. Long. In connection with her appointment as President and Chief Executive Officer, Ms. Portmann entered into an amended and restated employment agreement with Bank of the Pacific, the Company’s wholly-owned banking subsidiary (the Bank). Ms. Portmann also serves as President and Chief Executive Officer of the Bank.

Pacific Financial Corp. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reports Net Charge-Offs of $129,000 for the First Quarter of 2015

Pacific Financial Corp. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total interest and dividend income of $7,432,000 against $7,085,000 for the same period a year ago. Net interest income was $6,893,000 against $6,555,000 for the same period a year ago. Income before provision for income taxes was $1,382,000 against $1,333,000 for the same period a year ago. Net income applicable to common shareholders was $1,096,000 or $0.10 per diluted share against $1,028,000 or $0.10 per diluted share for the same period a year ago. Book value per share was $7.14 as at March 31, 2015 against $6.74 as at March 31, 2014. Return on average assets, annualized was 0.59% against 0.59% for the same period a year ago. Return on average equity, annualized was 6.05% against 6.12% for the same period a year ago. Tax equivalent net interest income was $7,063,000 against $6,719,000 for the same period a year ago. Net interest income for first quarter 2015 increased from the fourth quarter 2014 and from the first quarter in the prior year. This increase was primarily due to the growth in earning assets. Changes in the balance sheet mix also contributed to increases in net interest income during the period. Loan balances increased due to production generated predominately within the company's primary market area of Western Washington and Oregon. The company reported net charge-offs of $129,000 for the first quarter of 2015 against $71,000 for the same period a year ago.

 

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PFLC

Industry Average

Valuation PFLC Industry Range
Price/Earnings 13.1x
Price/Sales 1.8x
Price/Book 0.9x
Price/Cash Flow 13.0x
TEV/Sales 0.2x
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