Latest Pacific Financial Corporation (PFLC) Headlines
CUSO Financial Services and Sorrento Pacific Financial Honored by Bank Insurance & Securities Association at its Annual Conference
Business Wire - Mon Mar 10, 10:00AM CDT
The Bank Insurance & Securities Association (BISA) honored sister broker-dealers and Registered Investment Advisers CUSO Financial Services, LP (CFS) and Sorrento Pacific Financial, LLC (SPF) with two awards at its Annual Convention held March 5-7, 2014 in Hollywood, Florida. Executive Vice President Kevin Mummau was inducted into the BISA Circle of Excellence, and the companies' Mobile Scanning App was honored with a Tech Innovation Award.
Denise Portmann and Lori Reece Join Pacific Financial Corporation Board of Directors
GlobeNewswire - Tue Feb 25, 3:01PM CST
Pacific Financial Corporation (OTCQB
FLC), the holding company for Bank of the Pacific, today announced that Denise Portmann and Lori Reece have been appointed to its Board of Directors and the Board of Directors of the Bank of the Pacific, effective February 19, 2014. Both Reece and Portmann will stand for election by shareholders at the upcoming Annual Shareholders' Meeting on April 24, 2014.
Wells Fargo ranked #1 National Campaign by United Way
PR Newswire - Wed Feb 19, 8:15AM CST
Wells Fargo & Company (NYSE: WFC) has been named the largest workplace campaign in the U.S. in 2013, according to United Way Worldwide. This is the fifth consecutive year Wells Fargo has earned this top honor. Wells Fargo contributed $16.4 million to United Way in 2013, and its team members pledged more than $64.9 million during the company's annual giving campaign, bringing the company's United Way campaign total to over $81 million.
Douglas N. Biddle Named EVP and Chief Financial Officer of Bank of the Pacific
GlobeNewswire - Thu Feb 13, 3:00PM CST
Pacific Financial Corporation (OTCQBFLC), the holding company for Bank of the Pacific, today announced that Douglas N. Biddle was named Executive Vice President and Chief Financial Officer of Bank of the Pacific, effective February 10, 2014. Biddle will also serve as Treasurer of the holding company succeeding Denise Portmann, who was recently promoted to President and CEO of the Bank. Portmann will work with Biddle over the next several weeks to transition her current responsibilities.
Broker Dealers CUSO Financial Services and Sorrento Pacific Financial Expand Customer Growth Program, Hire Top Talent
Business Wire - Tue Feb 04, 8:50AM CST
Sister companies CUSO Financial Services, L.P. (CFS) and Sorrento Pacific Financial, LLC (SPF), full-service broker dealers and SEC Registered Investment Advisers providing customized investment and insurance solutions to financial institutions, have taken steps to further enhance the support and management services for their investment program clients. CFS and SPF have promoted Guy Brazell, previously senior vice president (SVP) of business development, to National Sales Manager, and have hired Patrick Connelly as new SVP of business development. Following the broker dealers' mission to help financial institutions build successful investment programs, the two executives will focus on adding new clients to the SPF and CFS client base and on leveraging best practices across hundreds of client institutions in an efficient manner, resulting in greater success for more programs.
Pacific Financial Corporation Posts 13% Loan Growth, 11% Deposit Growth, and NPAs Decline 49% in 2013; Earns $3.7 Million, or $0.37 per Share, in 2013
GlobeNewswire - Fri Jan 31, 3:15PM CST
Pacific Financial Corporation (OTCQBFLC), the holding company for Bank of the Pacific, today reported strong loan and deposit growth with significant improvement in asset quality in 2013, contributing to earnings. Fourth quarter net income totaled $789,000, or $0.08 per diluted share, compared to $909,000, or $0.09 per diluted share for the preceding quarter, and $1.7 million, or $0.16 per diluted share, for the fourth quarter a year ago. For the full year 2013, net income was $3.7 million, or $0.37 per diluted share, compared to $4.8 million, or $0.47 per diluted share in 2012.
Pacific Financial Corporation Declares Cash Dividend of $0.20 Per Share
GlobeNewswire - Mon Dec 23, 10:00AM CST
Pacific Financial Corporation (OTCQBFLC), the holding company for Bank of the Pacific, today announced that its Board of Directors declared a $0.20 per share cash dividend to holders of common stock. The dividend will be paid on January 10, 2014, to shareholders of record as of December 31, 2013.
Denise Portmann Named President and CEO of Bank of the Pacific
GlobeNewswire - Fri Dec 20, 10:00AM CST
Pacific Financial Corporation (OTCQBFLC), the holding company for Bank of the Pacific, today announced that Denise Portmann has been named President and Chief Executive Officer of Bank of the Pacific. She will assume the role of President and CEO on January 1, 2014, succeeding Dennis Long, who will remain President and Chief Executive Officer of Pacific Financial Corporation.
Bank of the Pacific Opens Full-Service Branch in Warrenton, OR.
GlobeNewswire - Wed Nov 13, 3:00PM CST
Bank of the Pacific, a wholly-owned subsidiary of Pacific Financial Corporation (OTCQBFLC), today announced the expansion of its franchise with the grand opening of its full-service branch located at 651 SE Martin Avenue, in Warrenton, Oregon. This new branch will expand Bank of the Pacific's presence in Clatsop County, Oregon, complementing the Seaside and Astoria locations.
Redwood City-Based Pettinelli Financial Partners Chosen to Participate in High Level National Events on Financial Services Best Practices and Service Excellence
Marketwire - Tue Nov 05, 8:49AM CST
Pettinelli Financial Partners, an independent financial services firm based in Redwood City, California, an affiliate of Pacific Financial Partners, a John Hancock Financial Network firm, was recently chosen to participate in three high-level national events focusing on best practices and service excellence in the financial services industry.
Pacific Financial Corporation Earns $2.9 Million Year-To-Date, or $0.29 per Share
GlobeNewswire - Wed Oct 30, 3:00PM CDT
Pacific Financial Corporation (OTCQBFLC), the holding company for Bank of the Pacific, today reported third quarter 2013 net income of $909,000, or $0.09 per diluted share, compared to $1.3 million, or $0.13 per diluted share in the preceding quarter, and $1.0 million, or $0.10 per diluted share, in the third quarter a year ago. The company saw solid core deposit and diverse loan growth, continued favorable credit quality, and a healthy net interest margin, which contributed to profitability in the third quarter and year-to-date. For the first nine months of 2013, net income was $2.9 million, or $0.29 per diluted share, compared to $3.1 million, or $0.31 per diluted share for the like period in 2012.
CUSO Financial Services and Sorrento Pacific Financial Rank as Top 5 Third Party Marketers in List by Bank Investment Consultant Magazine
PR Newswire - Thu Sep 19, 9:58AM CDT
Sister companies, CUSO Financial Services, L.P. (CFS) and Sorrento Pacific Financial, LLC (SPF), full-service broker dealers and SEC Registered Investment Advisers providing customized investment and insurance solutions to financial institutions, together have ranked as number five in Bank Investment Consultant magazine's Top 10 Third-Party Marketers list. The ranking was based on assets under management.
Pacific Financial Corporation 2Q13 Profits Increase 90% from 1Q13; Earns $2.0 Million in First Half of 2013
GlobeNewswire - Wed Jul 31, 3:00PM CDT
Pacific Financial Corporation (OTCQBFLC), the holding company for Bank of the Pacific, today reported second quarter 2013 net profits increased 90% to $1.3 million, or $0.13 per diluted share, from $701,000, or $0.07 per diluted share in the first quarter this year, and grew 24% from $1.1 million, or $0.11 per diluted share in the second quarter a year ago. Steady deposit and loan growth, a stable net interest margin, with improving credit quality, contributed to solid profitability in the second quarter and the first six months of 2013. Year-to-date, net income was $2.0 million, or $0.20 per diluted share, compared to $2.1 million, or $0.21 per diluted share for the first six months of 2012.
CUSO Financial Services and Sorrento Pacific Financial Rebrand and Enhance Institutional Trading Program, Offering Participation in Sales Commissions to Clients
PR Newswire - Tue May 14, 1:58PM CDT
Sister companies, CUSO Financial Services, L.P. (CFS) and Sorrento Pacific Financial, LLC (SPF), full-service broker dealers and SEC Registered Investment Advisers providing customized investment and insurance solutions to financial institutions, have rebranded their institutional trading program as Investment Portfolio Solutions (IPS) and hired industry expert Matt Johnson to direct program sales and marketing. Through participation in the IPS program with CFS and SPF, credit unions and community banks gain direct access to fixed income capital markets that are typically only available to them at retail price levels.
Pacific Financial Corporation Earns $701,000 in First Quarter 2013
GlobeNewswire - Wed Apr 24, 3:00PM CDT
Pacific Financial Corporation (OTCQBFLC), the holding company for Bank of the Pacific, today reported net income of $701,000, or $0.07 per share, for the first quarter of 2013, driven by strong growth in deposits, increased loan demand and improved credit quality. Net income for the first quarter of 2012 was $1.0 million, or $0.10 per share. Fourth quarter 2012 net income was $1.7 million, or $0.16 per share, primarily as a result of recoveries that led to a $1.5 million recapture of credit loss provision during the quarter.
Sterling Pacific Financial Receives Recertification from Monterey Bay Green Business Program
PRWeb - Wed Mar 20, 1:01PM CDT
Sterling Pacific Lending, Inc dba Sterling Pacific Financial, a leading trust deed investment firm based in Santa Cruz County, has recently become recertified as a 'green business' by the Monterey Bay Green Business Program. In order to receive this recognition, Sterling Pacific Financial has met more than 60 different criteria in relation to pollution prevention, waste reduction, energy conservation, and employee education. This distinction comes five years subsequent to an initial certification on November 11th, 2008.
Sterling Financial Corporation Announces Divestiture of Three Retail Branches
Business Wire - Tue Jan 29, 3:00PM CST
Sterling Financial Corporation (NASDAQ:STSA) today announced that its principal operating subsidiary, Sterling Savings Bank ("Sterling"), has entered into a definitive agreement to sell three retail branches to Bank of the Pacific, the principal operating subsidiary of Pacific Financial Corporation. The branches are located in Astoria, Ore., Seaside, Ore., and Aberdeen, Wash.
CUSO Financial Services and Sorrento Pacific Financial Honored by Bank Insurance & Securities Association at its Annual Conference
Business Wire - Mon Mar 10, 10:00AM CDT
The Bank Insurance & Securities Association (BISA) honored sister broker-dealers and Registered Investment Advisers CUSO Financial Services, LP (CFS) and Sorrento Pacific Financial, LLC (SPF) with two awards at its Annual Convention held March 5-7, 2014 in Hollywood, Florida. Executive Vice President Kevin Mummau was inducted into the BISA Circle of Excellence, and the companies' Mobile Scanning App was honored with a Tech Innovation Award.
Denise Portmann and Lori Reece Join Pacific Financial Corporation Board of Directors
GlobeNewswire - Tue Feb 25, 3:01PM CST
Pacific Financial Corporation (OTCQB
FLC), the holding company for Bank of the Pacific, today announced that Denise Portmann and Lori Reece have been appointed to its Board of Directors and the Board of Directors of the Bank of the Pacific, effective February 19, 2014. Both Reece and Portmann will stand for election by shareholders at the upcoming Annual Shareholders' Meeting on April 24, 2014. Wells Fargo ranked #1 National Campaign by United Way
PR Newswire - Wed Feb 19, 8:15AM CST
Wells Fargo & Company (NYSE: WFC) has been named the largest workplace campaign in the U.S. in 2013, according to United Way Worldwide. This is the fifth consecutive year Wells Fargo has earned this top honor. Wells Fargo contributed $16.4 million to United Way in 2013, and its team members pledged more than $64.9 million during the company's annual giving campaign, bringing the company's United Way campaign total to over $81 million.
Douglas N. Biddle Named EVP and Chief Financial Officer of Bank of the Pacific
GlobeNewswire - Thu Feb 13, 3:00PM CST
Pacific Financial Corporation (OTCQB
FLC), the holding company for Bank of the Pacific, today announced that Douglas N. Biddle was named Executive Vice President and Chief Financial Officer of Bank of the Pacific, effective February 10, 2014. Biddle will also serve as Treasurer of the holding company succeeding Denise Portmann, who was recently promoted to President and CEO of the Bank. Portmann will work with Biddle over the next several weeks to transition her current responsibilities. Broker Dealers CUSO Financial Services and Sorrento Pacific Financial Expand Customer Growth Program, Hire Top Talent
Business Wire - Tue Feb 04, 8:50AM CST
Sister companies CUSO Financial Services, L.P. (CFS) and Sorrento Pacific Financial, LLC (SPF), full-service broker dealers and SEC Registered Investment Advisers providing customized investment and insurance solutions to financial institutions, have taken steps to further enhance the support and management services for their investment program clients. CFS and SPF have promoted Guy Brazell, previously senior vice president (SVP) of business development, to National Sales Manager, and have hired Patrick Connelly as new SVP of business development. Following the broker dealers' mission to help financial institutions build successful investment programs, the two executives will focus on adding new clients to the SPF and CFS client base and on leveraging best practices across hundreds of client institutions in an efficient manner, resulting in greater success for more programs.
Pacific Financial Corporation Posts 13% Loan Growth, 11% Deposit Growth, and NPAs Decline 49% in 2013; Earns $3.7 Million, or $0.37 per Share, in 2013
GlobeNewswire - Fri Jan 31, 3:15PM CST
Pacific Financial Corporation (OTCQB
FLC), the holding company for Bank of the Pacific, today reported strong loan and deposit growth with significant improvement in asset quality in 2013, contributing to earnings. Fourth quarter net income totaled $789,000, or $0.08 per diluted share, compared to $909,000, or $0.09 per diluted share for the preceding quarter, and $1.7 million, or $0.16 per diluted share, for the fourth quarter a year ago. For the full year 2013, net income was $3.7 million, or $0.37 per diluted share, compared to $4.8 million, or $0.47 per diluted share in 2012. Pacific Financial Corporation Declares Cash Dividend of $0.20 Per Share
GlobeNewswire - Mon Dec 23, 10:00AM CST
Pacific Financial Corporation (OTCQB
FLC), the holding company for Bank of the Pacific, today announced that its Board of Directors declared a $0.20 per share cash dividend to holders of common stock. The dividend will be paid on January 10, 2014, to shareholders of record as of December 31, 2013. Denise Portmann Named President and CEO of Bank of the Pacific
GlobeNewswire - Fri Dec 20, 10:00AM CST
Pacific Financial Corporation (OTCQB
FLC), the holding company for Bank of the Pacific, today announced that Denise Portmann has been named President and Chief Executive Officer of Bank of the Pacific. She will assume the role of President and CEO on January 1, 2014, succeeding Dennis Long, who will remain President and Chief Executive Officer of Pacific Financial Corporation. Bank of the Pacific Opens Full-Service Branch in Warrenton, OR.
GlobeNewswire - Wed Nov 13, 3:00PM CST
Bank of the Pacific, a wholly-owned subsidiary of Pacific Financial Corporation (OTCQB
FLC), today announced the expansion of its franchise with the grand opening of its full-service branch located at 651 SE Martin Avenue, in Warrenton, Oregon. This new branch will expand Bank of the Pacific's presence in Clatsop County, Oregon, complementing the Seaside and Astoria locations. Redwood City-Based Pettinelli Financial Partners Chosen to Participate in High Level National Events on Financial Services Best Practices and Service Excellence
Marketwire - Tue Nov 05, 8:49AM CST
Pettinelli Financial Partners, an independent financial services firm based in Redwood City, California, an affiliate of Pacific Financial Partners, a John Hancock Financial Network firm, was recently chosen to participate in three high-level national events focusing on best practices and service excellence in the financial services industry.
Pacific Financial Corporation Earns $2.9 Million Year-To-Date, or $0.29 per Share
GlobeNewswire - Wed Oct 30, 3:00PM CDT
Pacific Financial Corporation (OTCQB
FLC), the holding company for Bank of the Pacific, today reported third quarter 2013 net income of $909,000, or $0.09 per diluted share, compared to $1.3 million, or $0.13 per diluted share in the preceding quarter, and $1.0 million, or $0.10 per diluted share, in the third quarter a year ago. The company saw solid core deposit and diverse loan growth, continued favorable credit quality, and a healthy net interest margin, which contributed to profitability in the third quarter and year-to-date. For the first nine months of 2013, net income was $2.9 million, or $0.29 per diluted share, compared to $3.1 million, or $0.31 per diluted share for the like period in 2012. CUSO Financial Services and Sorrento Pacific Financial Rank as Top 5 Third Party Marketers in List by Bank Investment Consultant Magazine
PR Newswire - Thu Sep 19, 9:58AM CDT
Sister companies, CUSO Financial Services, L.P. (CFS) and Sorrento Pacific Financial, LLC (SPF), full-service broker dealers and SEC Registered Investment Advisers providing customized investment and insurance solutions to financial institutions, together have ranked as number five in Bank Investment Consultant magazine's Top 10 Third-Party Marketers list. The ranking was based on assets under management.
Pacific Financial Corporation 2Q13 Profits Increase 90% from 1Q13; Earns $2.0 Million in First Half of 2013
GlobeNewswire - Wed Jul 31, 3:00PM CDT
Pacific Financial Corporation (OTCQB
FLC), the holding company for Bank of the Pacific, today reported second quarter 2013 net profits increased 90% to $1.3 million, or $0.13 per diluted share, from $701,000, or $0.07 per diluted share in the first quarter this year, and grew 24% from $1.1 million, or $0.11 per diluted share in the second quarter a year ago. Steady deposit and loan growth, a stable net interest margin, with improving credit quality, contributed to solid profitability in the second quarter and the first six months of 2013. Year-to-date, net income was $2.0 million, or $0.20 per diluted share, compared to $2.1 million, or $0.21 per diluted share for the first six months of 2012. CUSO Financial Services and Sorrento Pacific Financial Rebrand and Enhance Institutional Trading Program, Offering Participation in Sales Commissions to Clients
PR Newswire - Tue May 14, 1:58PM CDT
Sister companies, CUSO Financial Services, L.P. (CFS) and Sorrento Pacific Financial, LLC (SPF), full-service broker dealers and SEC Registered Investment Advisers providing customized investment and insurance solutions to financial institutions, have rebranded their institutional trading program as Investment Portfolio Solutions (IPS) and hired industry expert Matt Johnson to direct program sales and marketing. Through participation in the IPS program with CFS and SPF, credit unions and community banks gain direct access to fixed income capital markets that are typically only available to them at retail price levels.
Pacific Financial Corporation Earns $701,000 in First Quarter 2013
GlobeNewswire - Wed Apr 24, 3:00PM CDT
Pacific Financial Corporation (OTCQB
FLC), the holding company for Bank of the Pacific, today reported net income of $701,000, or $0.07 per share, for the first quarter of 2013, driven by strong growth in deposits, increased loan demand and improved credit quality. Net income for the first quarter of 2012 was $1.0 million, or $0.10 per share. Fourth quarter 2012 net income was $1.7 million, or $0.16 per share, primarily as a result of recoveries that led to a $1.5 million recapture of credit loss provision during the quarter. Sterling Pacific Financial Receives Recertification from Monterey Bay Green Business Program
PRWeb - Wed Mar 20, 1:01PM CDT
Sterling Pacific Lending, Inc dba Sterling Pacific Financial, a leading trust deed investment firm based in Santa Cruz County, has recently become recertified as a 'green business' by the Monterey Bay Green Business Program. In order to receive this recognition, Sterling Pacific Financial has met more than 60 different criteria in relation to pollution prevention, waste reduction, energy conservation, and employee education. This distinction comes five years subsequent to an initial certification on November 11th, 2008.
Sterling Financial Corporation Announces Divestiture of Three Retail Branches
Business Wire - Tue Jan 29, 3:00PM CST
Sterling Financial Corporation (NASDAQ:STSA) today announced that its principal operating subsidiary, Sterling Savings Bank ("Sterling"), has entered into a definitive agreement to sell three retail branches to Bank of the Pacific, the principal operating subsidiary of Pacific Financial Corporation. The branches are located in Astoria, Ore., Seaside, Ore., and Aberdeen, Wash.
