Pacific Financial Corp
OTCQX US Premier:PFLC

  • LAST PRICE
    11.8000
  • TODAY'S CHANGE (%)
    0.0000 (0.0000%)
  • Bid / Lots
    11.7600/ 2
  • Ask / Lots
    11.9900/ 1
  • Open / Previous Close
    11.8000 / 11.8000
  • Day Range
    11.8000
    11.8000
  • 52 Week Range
    9.2000
    12.0000
  • Volume
    100

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  • Oct 25, 2024

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    • 8:30AM ET on Friday Oct 25, 2024 by Dow Jones
      Companies Mentioned: PFLC
      Borrowings $ 243 $ 242 $ 246 $ 1 0% $ (3) -1% $ 727 $ 682 $ 45 7% Total interest-bearing liabilities $ 2,927 $ 2,600 $ 1,962 $ 327 13% $ 965 49% $ 7,760 $ 4,119 $ 3,641 88% Net interest income $ 11,247 $ 10,810 $ 12,344 $ 437 4% (1,097) -9% $ 33,505 $ 37,740 $ (4,235) -11% Yield / Cost %((1) Yield on portfolio loans 5.99% 5.80% 5.71% 0.19% 0.28% 5.92% 5.57% 0.35% Yield on investment securities 3.53% 3.46% 3.36% 0.07% 0.17% 3.48% 3.26% 0.22% Yield on interest-bearing cash 5.39% 5.46% 5.35% -0.07% 0.04% 5.43% 4.97% 0.46% Cost of interest-bearing deposits 1.74% 1.59% 1.10% 0.15% 0.64% 1.56% 0.73% 0.83% Cost of borrowings 7.21% 7.26% 7.28% -0.05% -0.07% 7.25% 6.80% 0.45% Cost of deposits and borrowings 1.15% 1.05% 0.72% 0.10% 0.43% 1.03% 0.50% 0.53% Yield on interest-earning assets 5.29% 5.15% 5.06% 0.14% 0.23% 5.22% 4.88% 0.34% Cost of interest-bearing liabilities 1.85% 1.72% 1.23% 0.13% 0.62% 1.69% 0.86% 0.83% Net interest spread 3.44% 3.43% 3.83% 0.01% -0.39% 3.53% 4.02% -0.49% Net interest margin 4.19% 4.15% 4.37% 0.04% -0.18% 4.24% 4.40% -0.16% (1) Tax-exempt income has been adjusted to a tax equivalent basis at a rate of 21%. ALLOWANCE FOR CREDIT LOSSES (ACL) (unaudited) Quarter Ended Change From Nine Months Ended Change ----------------- ---------------------------------- ------------------------------------------ --------------------- -------------------- ($ in 000s) Sep 30, Jun 30, Sep 30, Jun 30, 2024 Sep 30, 2023 Sep 30, Sep 30, 2024 2024 2023 $ % $ % 2024 2023 $ % --------- --------- --------- --------- -------- --------- -------- --------- --------- --------- -------- Allowance for Credit Losses Beginning of period balance $8,859 $8,580 $8,223 $ 279 3% $ 636 8% $8,530 $8,236 $ 294 4% Impact of CECL Adoption (ASC 326) - - - - -100% - -100% - (157) 157 -100% Charge-offs (5) (57) (126) 52 -91% 121 -96% (97) (259) 162 -63% Recoveries 16 1 1 15 1500% 15 1500% 19 55 (36) -65% Net (charge-off) recovery 11 (56) (125) 67 -120% 136 -109% (78) (204) 126 -62% ----- ----- ----- ----- ---- ----- ---- ----- ----- ----- ---- Provision (benefit) 27 335 249 (308) -92% (222) -89% 445 472 (27) -6% End of period balance $8,897 $8,859 $8,347 $ 38 0% $ 550 7% $8,897 $8,347 $ 550 7% ===== ===== ===== ===== ==== ===== ==== ===== ===== ===== ==== Net charge-off (recovery) to average portfolio loans -0.01% 0.03% 0.07% -0.04% -0.08% 0.01% 0.04% -0.03% ACL to portfolio loans 1.27% 1.26% 1.24% 0.01% 0.03% 1.27% 1.24% 0.03% Allowance for unfunded loans Beginning of period balance $ 617 $ 648 $ 754 $ (31) -5% $ (137) -18% $ 698 $ 203 $ 495 244% Impact of CECL Adoption (ASC 326) - - - - -100% - -100% - 609 (609) -100% Provision (benefit) (93) (31) (5) (62) 200% (88) 1760% (174) (63) (111) 176% End of period balance $ 524 $ 617 $ 749 $ (93) -15% $ (225) -30% $ 524 $ 749 $ (225) -30% ===== ===== ===== ===== ==== ===== ==== ===== ===== ===== ====

    • 8:30AM ET on Friday Oct 25, 2024 by Dow Jones
      Companies Mentioned: PFLC

  • Oct 24, 2024

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    • 2:27PM ET on Thursday Oct 24, 2024 by Dow Jones
      Companies Mentioned: PFLC

      Synergy by Association Announces Election of Terri McKinnis to Board of Directors

      ABERDEEN, Wash., Oct. 24, 2024 (GLOBE NEWSWIRE) -- The Oregon Bankers Association's (OBA) wholly owned subsidiary, Synergy by Association, Inc. ("Synergy"), is pleased to announce the election of Terri McKinnis as the newest member of its board of directors. McKinnis is the executive vice president and chief operating officer of Bank of the Pacific and brings over four decades of banking experience to the role, with much of that time served in senior management positions in bank operations and treasury management. She is a 2017 honors graduate of Pacific Coast Banking School (PCBS) and holds an executive certificate from the University of Washington Foster School of Business. Since 2018, she has also served as a management report advisor for PCBS.

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