Pacific Financial Corporation

Pacific Financial Corporation is a bank holding company headquartered in Aberdeen, Washington. The company owns and operates one bank, Bank of the Pacific, which conducts its banking business in western Washington and the north coast of Oregon. Pacific Financial Corporation was incorporated in Washington in February 1997. Bank of the Pacific operates 17 branches located in Grays Harbor, Pacific, Clark, Whatcom, Skagit, and Wahkiakum counties in Washington, and three branches in Clatsop County, Oregon. Additionally, the Bank maintains loan production offices in Burlington and DuPont, Washington, and opened another in Salem, Oregon, in January 2015. The company also has a residential real estate mortgage department. For the year ended December 31, 2014, Pacific Financial Corporation reported total revenue of $35,112 thousand, consisting of $27,033 thousand in net interest income and $8,079 thousand in non-interest income. Net income for 2014 was $4,927 thousand, and total assets were $744,807 thousand. In 2013, total revenue was $33,755 thousand, net income was $3,731 thousand, and total assets were $705,039 thousand. For 2012, total revenue was $33,402 thousand, net income was $4,785 thousand, and total assets were $643,594 thousand. The company's common stock is listed on the OTCQB® exchange under the symbol PFLC.