Pacific Financial Corporation (PFLC) 7.4000 $PFLC
Sister Companies CUSO Financial Services and Sorrento Pacific Financial Gain SOC Type 1 Certification
BusinessWire - Tue Aug 16, 2:04PM CDT
Sister broker-dealers, CUSO Financial Services, L.P. (CFS) and Sorrento Pacific Financial, LLC (SPF), have successfully completed the SSAE 16 Type II audit for the SOC Type 1 certification created by the ASB Standards Auditing Board of American Certified Accountants. This certification is another way in which CFS and SPF have expedited and simplified due diligence processes for the financial institutions with which they work.
Sister Companies CUSO Financial Services and Sorrento Pacific Financial Launch FireLight E-Application to Simplify Order Entry Transactions
BusinessWire - Tue May 24, 12:00PM CDT
Sister broker-dealers, CUSO Financial Services, L.P. (CFS) and Sorrento Pacific Financial, LLC (SPF), have launched the FireLight(R) E-Application solution, an online order entry system from Insurance Technologies, LLC, that automates the way insurance and investment product applications are completed and submitted. FireLight enables advisors to capture client data and signatures in a single meeting, on any device. CFS and SPF remain focused on implementing remote delivery tools that expedite and simplify processes for their financial institution advisors, and thus, for their customers.
Pacific Financial Corporation Names Randy Rognlin as Chairman of the Board; Announces Retirement of Gary Forcum
GlobeNewswire - Thu May 19, 1:43PM CDT
Pacific Financial Corporation (OTCQB
FLC), the holding company for Bank of the Pacific today announced that Gary Forcum has retired as Chairman and voting director of both the Bank and the holding company. At the same time, its Board of Directors named Randy Rognlin to serve as Chairman of the Board, succeeding Forcum. This appointment was approved at the recent Annual Meeting of Pacific Financial Corporation. Randy Rognlin has served on the board as Vice-Chairman for 3 years and has served as an independent director for 15 years.
Cascade Bancorp Announces Agreement to Acquire Prime Pacific Financial Services in the Greater Seattle Metro Market
PR Newswire - Tue Apr 26, 7:00PM CDT
Cascade Bancorp (NASDAQ: CACB or "Cascade"
and Prime Pacific Financial Services (OTC PINK: PPFS or "Prime Pacific" today announced that Cascade Bancorp and Prime Pacific have entered into a definitive agreement and plan of merger pursuant to which Cascade will acquire Prime Pacific Financial Services, the holding company of Prime Pacific Bank, a Snohomish county, national banking association with $119.4 million in assets, $94.7 million in net loans, $104.8 million in total deposits at December 31, 2015.
CACB: 6.17 (+0.10)
Pacific Financial Corporation 1Q16 Earnings Increase 26% to $1.4 Million, or $0.13 Per Share, Year-over-Year; Highlighted by Continued Steady Loan Growth, Stable Net Interest Margin and Increased Noninterest Income
GlobeNewswire - Tue Apr 26, 8:00AM CDT
Pacific Financial Corporation (OTCQBFLC), the holding company for Bank of the Pacific today reported net income increased 6% to $1.4 million, or $0.13 per share, for the first quarter of 2016, compared to $1.3 million, or $0.12 per share for the fourth quarter of 2015, and grew 26% from $1.1 million, or $0.11 per share, for the first quarter of 2015. Driving profitability in 2016 was continued loan growth, stable net interest margin and increased noninterest income. All results are unaudited.
Oscar Gastelum -- Area Manager at South Pacific Financial Corporation -- Named 2016 President of the National Association of Hispanic Real Estate Professionals North County San Diego Chapter
PR Newswire - Tue Feb 09, 8:20AM CST
Oscar Gastelum, Area Manager at South Pacific Financial Corporation (SPFC), was named 2016 President of the North County San Diego Chapter of the National Association of Hispanic Real Estate Professionals® (NAHREP).
Pacific Financial Corporation to Participate in FIG Partners West Coast Bank CEO Forum
GlobeNewswire - Mon Feb 01, 3:00PM CST
Pacific Financial Corporation (OTCQBFLC), the holding company for Bank of the Pacific, today announced that Denise J. Portmann, President and CEO, and Douglas N. Biddle, Executive Vice President and CFO, will attend the FIG Partners' 7th Annual West Coast Bank CEO Forum at the Millennium Biltmore Hotel in Los Angeles on February 3 and 4, 2016. Portmann is scheduled to participate on the panel on Pacific Northwest Banks on Thursday, February 4, 2016, at 8:00 a.m. PST.
Pacific Financial Corporation Earnings Increase 22% in Fourth Quarter 2015, Driven by Loan Growth, Solid Net Interest Margin and Increased Noninterest Income; Full Year 2015 Earnings Grow 15%
GlobeNewswire - Fri Jan 22, 8:05AM CST
Pacific Financial Corporation (OTCQBFLC), the holding company for Bank of the Pacific today reported net income of $1.4 million, or $0.13 per share, for the fourth quarter of 2015, compared to $1.6 million, or $0.15 per share for the third quarter of 2015, and grew 22% from $1.1 million, or $0.11 per share, for the fourth quarter a year ago. For the full year 2015, net income increased 15% to $5.6 million, or $0.54 per share, from $4.9 million, or $0.48 per share, for 2014. Driving profitability in 2015 was robust loan growth, solid net interest margin and increased noninterest income.
Pacific Financial Corporation Raises Annual Cash Dividend to $0.22 Per Share
GlobeNewswire - Thu Dec 17, 3:52PM CST
Pacific Financial Corporation (OTCQBFLC), the holding company for Bank of the Pacific, today announced that its Board of Directors declared a cash dividend of $0.22 per share to holders of common stock. The dividend will be payable on January 8, 2016, to shareholders of record on December 31, 2015.
Bank of the Pacific to Close Branches in Ilwaco and Ferndale, WA, Balancing Physical Branch Locations with Enhanced Electronic Banking Channels
GlobeNewswire - Fri Oct 30, 8:00AM CDT
Pacific Financial Corporation (OTCQBFLC), the holding company for Bank of the Pacific, today announced plans to close two branches in Western Washington. One branch is in Ilwaco, three miles south of its Long Beach, Washington branch. The second branch in Ferndale is approximately 9 miles north of its two Bellingham offices and 11 miles southwest of its Lynden office. To assist with customer account transition, the Bank has invested in dynamic online and mobile platforms, enhancing flexibility, convenience and services to customers throughout the markets served.
Pacific Financial Corporation Earnings Increase 17% in Third Quarter 2015, Driven by Loan Growth, Solid Net Interest Margin and Increased Noninterest Income; Year-to-Date 2015 Earnings Grow 12%
GlobeNewswire - Thu Oct 22, 3:00PM CDT
Pacific Financial Corporation (OTCQBFLC), the holding company for Bank of the Pacific today reported net income of $1.6 million, or $0.15 per share, for the third quarter of 2015, compared to $1.6 million, or $0.15 per share for the second quarter of 2015, and grew 17% from $1.4 million, or $0.13 per share, for the third quarter a year ago. Year-to-date, net income increased 12% to $4.3 million, or $0.41 per share, from $3.8 million, or $0.37 per share, for the like period in 2014. Driving profitability in 2015 was robust loan growth, solid net interest margin and increased noninterest income.
CUSO Financial Services and Sorrento Pacific Financial's 17th Annual Conference Focuses on 21st Century Strategies to Meet the Needs of Investment Clients
BusinessWire - Wed Aug 05, 10:30AM CDT
Sister companies, CUSO Financial Services, L.P. (CFS) and Sorrento Pacific Financial, LLC (SPF) recently hosted the CFS/SPF 17th Annual Conference in San Diego for executives, financial advisors and investment program managers at financial institutions across the country. The conference provided more than 600 attendees with the opportunity to learn about and implement new strategies, tools and products to meet their clients' expectations and compete in today's rapidly changing investment marketplace.
Pacific Financial Corporation Earnings Increase 44% in Second Quarter 2015, Driven by Robust Loan Growth, Strong Net Interest Margin and Solid Credit Qualify; Earnings Grow 10% in First Half of 2015
GlobeNewswire - Tue Jul 28, 3:00PM CDT
Pacific Financial Corporation (OTCQBFLC), the holding company for Bank of the Pacific today 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. 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. Driving profitability in 2015 was robust loan growth, strong net interest margin and solid credit quality.
CUSO Financial Services and Sorrento Pacific Financial Find Success in Providing Piggyback Services to Small Bank and Credit Union Broker-Dealers
BusinessWire - Thu May 21, 1:42PM 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 expanded their tri-party clearing, or "piggyback," services due to increased marketplace demand. Piggyback services are appropriate for investment programs within small- to mid-sized banks and credit unions that already have broker-dealer designations. As one of the few third-party marketers to offer piggyback arrangements, CFS/SPF specialists have been invited to speak on the topic during the 2015 FINRA National Conference, May 27-29, 2015 in Washington, DC.
CUSO Financial Services and Sorrento Pacific Financial Expand Remote Delivery Strategy with Award-winning Secure Profiling Tool
BusinessWire - Wed Apr 29, 10:00AM 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 announced a new online profiling tool, BuildMyProfile(TM), for use by investment representatives in financial institutions and their clients. The new profiling tool has been integrated fully into the companies' proprietary dataVISION(R) client and account management system, allowing seamless collection and integration of information throughout the system. This tool expands the suite of remote delivery tools CFS and SPF offer by extending the process to include the initial client profiling so that advisors can interact with clients from start to finish through mobile and online channels to enhance convenience and efficiency.
Pacific Financial Corporation Earnings Increase 7% to $1.1 Million for 1Q15 from 1Q14
GlobeNewswire - Tue Apr 28, 3:00PM CDT
Pacific Financial Corporation (OTCQBFLC), the holding company for Bank of the Pacific today reported profits of $1.1 million for the first quarter of 2015, up 7% compared to $1.0 million for the first quarter a year ago. Profitability was propelled by strong loan growth, ongoing enhancements in credit quality, lower funding costs and an improved net interest margin. All results are unaudited.
CUSO Financial Services and Sorrento Pacific Financial Appoint New National Sales Manager
BusinessWire - Wed Mar 18, 9:00AM 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 hired Mark Hoaglin as national sales manager. A veteran of the financial industry, Hoaglin uses his high-level industry expertise to provide guidance and leadership to CFS and SPF banks and credit unions across the country.
Bank of the Pacific Establishes New Oregon Commercial Lending Team; Ebert, White, Lambert and Toepfer Launch LPO in Salem, Oregon
GlobeNewswire - Thu Jan 29, 10:00AM CST
Bank of the Pacific, a subsidiary of Pacific Financial Corporation (OTCQBFLC), today announced that a new commercial lending team has joined the Bank expanding its presence in Salem, Oregon. Dan Ebert, Senior Vice President and Manager, will lead the commercial lending team joined by Kelly White, Anmarie Lambert and Lynne Toepfer, all seasoned bankers who have previously worked together for approximately 15 years.
Sister Companies CUSO Financial Services and Sorrento Pacific Financial Gain SOC Type 1 Certification
BusinessWire - Tue Aug 16, 2:04PM CDT
Sister broker-dealers, CUSO Financial Services, L.P. (CFS) and Sorrento Pacific Financial, LLC (SPF), have successfully completed the SSAE 16 Type II audit for the SOC Type 1 certification created by the ASB Standards Auditing Board of American Certified Accountants. This certification is another way in which CFS and SPF have expedited and simplified due diligence processes for the financial institutions with which they work.
Sister Companies CUSO Financial Services and Sorrento Pacific Financial Launch FireLight E-Application to Simplify Order Entry Transactions
BusinessWire - Tue May 24, 12:00PM CDT
Sister broker-dealers, CUSO Financial Services, L.P. (CFS) and Sorrento Pacific Financial, LLC (SPF), have launched the FireLight(R) E-Application solution, an online order entry system from Insurance Technologies, LLC, that automates the way insurance and investment product applications are completed and submitted. FireLight enables advisors to capture client data and signatures in a single meeting, on any device. CFS and SPF remain focused on implementing remote delivery tools that expedite and simplify processes for their financial institution advisors, and thus, for their customers.
Pacific Financial Corporation Names Randy Rognlin as Chairman of the Board; Announces Retirement of Gary Forcum
GlobeNewswire - Thu May 19, 1:43PM CDT
Pacific Financial Corporation (OTCQB
FLC), the holding company for Bank of the Pacific today announced that Gary Forcum has retired as Chairman and voting director of both the Bank and the holding company. At the same time, its Board of Directors named Randy Rognlin to serve as Chairman of the Board, succeeding Forcum. This appointment was approved at the recent Annual Meeting of Pacific Financial Corporation. Randy Rognlin has served on the board as Vice-Chairman for 3 years and has served as an independent director for 15 years. Cascade Bancorp Announces Agreement to Acquire Prime Pacific Financial Services in the Greater Seattle Metro Market
PR Newswire - Tue Apr 26, 7:00PM CDT
Cascade Bancorp (NASDAQ: CACB or "Cascade"
and Prime Pacific Financial Services (OTC PINK: PPFS or "Prime Pacific" today announced that Cascade Bancorp and Prime Pacific have entered into a definitive agreement and plan of merger pursuant to which Cascade will acquire Prime Pacific Financial Services, the holding company of Prime Pacific Bank, a Snohomish county, national banking association with $119.4 million in assets, $94.7 million in net loans, $104.8 million in total deposits at December 31, 2015. CACB: 6.17 (+0.10)
Pacific Financial Corporation 1Q16 Earnings Increase 26% to $1.4 Million, or $0.13 Per Share, Year-over-Year; Highlighted by Continued Steady Loan Growth, Stable Net Interest Margin and Increased Noninterest Income
GlobeNewswire - Tue Apr 26, 8:00AM CDT
Pacific Financial Corporation (OTCQB
FLC), the holding company for Bank of the Pacific today reported net income increased 6% to $1.4 million, or $0.13 per share, for the first quarter of 2016, compared to $1.3 million, or $0.12 per share for the fourth quarter of 2015, and grew 26% from $1.1 million, or $0.11 per share, for the first quarter of 2015. Driving profitability in 2016 was continued loan growth, stable net interest margin and increased noninterest income. All results are unaudited. Oscar Gastelum -- Area Manager at South Pacific Financial Corporation -- Named 2016 President of the National Association of Hispanic Real Estate Professionals North County San Diego Chapter
PR Newswire - Tue Feb 09, 8:20AM CST
Oscar Gastelum, Area Manager at South Pacific Financial Corporation (SPFC), was named 2016 President of the North County San Diego Chapter of the National Association of Hispanic Real Estate Professionals® (NAHREP).
Pacific Financial Corporation to Participate in FIG Partners West Coast Bank CEO Forum
GlobeNewswire - Mon Feb 01, 3:00PM CST
Pacific Financial Corporation (OTCQB
FLC), the holding company for Bank of the Pacific, today announced that Denise J. Portmann, President and CEO, and Douglas N. Biddle, Executive Vice President and CFO, will attend the FIG Partners' 7th Annual West Coast Bank CEO Forum at the Millennium Biltmore Hotel in Los Angeles on February 3 and 4, 2016. Portmann is scheduled to participate on the panel on Pacific Northwest Banks on Thursday, February 4, 2016, at 8:00 a.m. PST. Pacific Financial Corporation Earnings Increase 22% in Fourth Quarter 2015, Driven by Loan Growth, Solid Net Interest Margin and Increased Noninterest Income; Full Year 2015 Earnings Grow 15%
GlobeNewswire - Fri Jan 22, 8:05AM CST
Pacific Financial Corporation (OTCQB
FLC), the holding company for Bank of the Pacific today reported net income of $1.4 million, or $0.13 per share, for the fourth quarter of 2015, compared to $1.6 million, or $0.15 per share for the third quarter of 2015, and grew 22% from $1.1 million, or $0.11 per share, for the fourth quarter a year ago. For the full year 2015, net income increased 15% to $5.6 million, or $0.54 per share, from $4.9 million, or $0.48 per share, for 2014. Driving profitability in 2015 was robust loan growth, solid net interest margin and increased noninterest income. Pacific Financial Corporation Raises Annual Cash Dividend to $0.22 Per Share
GlobeNewswire - Thu Dec 17, 3:52PM CST
Pacific Financial Corporation (OTCQB
FLC), the holding company for Bank of the Pacific, today announced that its Board of Directors declared a cash dividend of $0.22 per share to holders of common stock. The dividend will be payable on January 8, 2016, to shareholders of record on December 31, 2015. Bank of the Pacific to Close Branches in Ilwaco and Ferndale, WA, Balancing Physical Branch Locations with Enhanced Electronic Banking Channels
GlobeNewswire - Fri Oct 30, 8:00AM CDT
Pacific Financial Corporation (OTCQB
FLC), the holding company for Bank of the Pacific, today announced plans to close two branches in Western Washington. One branch is in Ilwaco, three miles south of its Long Beach, Washington branch. The second branch in Ferndale is approximately 9 miles north of its two Bellingham offices and 11 miles southwest of its Lynden office. To assist with customer account transition, the Bank has invested in dynamic online and mobile platforms, enhancing flexibility, convenience and services to customers throughout the markets served. Pacific Financial Corporation Earnings Increase 17% in Third Quarter 2015, Driven by Loan Growth, Solid Net Interest Margin and Increased Noninterest Income; Year-to-Date 2015 Earnings Grow 12%
GlobeNewswire - Thu Oct 22, 3:00PM CDT
Pacific Financial Corporation (OTCQB
FLC), the holding company for Bank of the Pacific today reported net income of $1.6 million, or $0.15 per share, for the third quarter of 2015, compared to $1.6 million, or $0.15 per share for the second quarter of 2015, and grew 17% from $1.4 million, or $0.13 per share, for the third quarter a year ago. Year-to-date, net income increased 12% to $4.3 million, or $0.41 per share, from $3.8 million, or $0.37 per share, for the like period in 2014. Driving profitability in 2015 was robust loan growth, solid net interest margin and increased noninterest income. CUSO Financial Services and Sorrento Pacific Financial's 17th Annual Conference Focuses on 21st Century Strategies to Meet the Needs of Investment Clients
BusinessWire - Wed Aug 05, 10:30AM CDT
Sister companies, CUSO Financial Services, L.P. (CFS) and Sorrento Pacific Financial, LLC (SPF) recently hosted the CFS/SPF 17th Annual Conference in San Diego for executives, financial advisors and investment program managers at financial institutions across the country. The conference provided more than 600 attendees with the opportunity to learn about and implement new strategies, tools and products to meet their clients' expectations and compete in today's rapidly changing investment marketplace.
Pacific Financial Corporation Earnings Increase 44% in Second Quarter 2015, Driven by Robust Loan Growth, Strong Net Interest Margin and Solid Credit Qualify; Earnings Grow 10% in First Half of 2015
GlobeNewswire - Tue Jul 28, 3:00PM CDT
Pacific Financial Corporation (OTCQB
FLC), the holding company for Bank of the Pacific today 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. 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. Driving profitability in 2015 was robust loan growth, strong net interest margin and solid credit quality. CUSO Financial Services and Sorrento Pacific Financial Find Success in Providing Piggyback Services to Small Bank and Credit Union Broker-Dealers
BusinessWire - Thu May 21, 1:42PM 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 expanded their tri-party clearing, or "piggyback," services due to increased marketplace demand. Piggyback services are appropriate for investment programs within small- to mid-sized banks and credit unions that already have broker-dealer designations. As one of the few third-party marketers to offer piggyback arrangements, CFS/SPF specialists have been invited to speak on the topic during the 2015 FINRA National Conference, May 27-29, 2015 in Washington, DC.
CUSO Financial Services and Sorrento Pacific Financial Expand Remote Delivery Strategy with Award-winning Secure Profiling Tool
BusinessWire - Wed Apr 29, 10:00AM 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 announced a new online profiling tool, BuildMyProfile(TM), for use by investment representatives in financial institutions and their clients. The new profiling tool has been integrated fully into the companies' proprietary dataVISION(R) client and account management system, allowing seamless collection and integration of information throughout the system. This tool expands the suite of remote delivery tools CFS and SPF offer by extending the process to include the initial client profiling so that advisors can interact with clients from start to finish through mobile and online channels to enhance convenience and efficiency.
Pacific Financial Corporation Earnings Increase 7% to $1.1 Million for 1Q15 from 1Q14
GlobeNewswire - Tue Apr 28, 3:00PM CDT
Pacific Financial Corporation (OTCQB
FLC), the holding company for Bank of the Pacific today reported profits of $1.1 million for the first quarter of 2015, up 7% compared to $1.0 million for the first quarter a year ago. Profitability was propelled by strong loan growth, ongoing enhancements in credit quality, lower funding costs and an improved net interest margin. All results are unaudited. CUSO Financial Services and Sorrento Pacific Financial Appoint New National Sales Manager
BusinessWire - Wed Mar 18, 9:00AM 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 hired Mark Hoaglin as national sales manager. A veteran of the financial industry, Hoaglin uses his high-level industry expertise to provide guidance and leadership to CFS and SPF banks and credit unions across the country.
Bank of the Pacific Establishes New Oregon Commercial Lending Team; Ebert, White, Lambert and Toepfer Launch LPO in Salem, Oregon
GlobeNewswire - Thu Jan 29, 10:00AM CST
Bank of the Pacific, a subsidiary of Pacific Financial Corporation (OTCQB
FLC), today announced that a new commercial lending team has joined the Bank expanding its presence in Salem, Oregon. Dan Ebert, Senior Vice President and Manager, will lead the commercial lending team joined by Kelly White, Anmarie Lambert and Lynne Toepfer, all seasoned bankers who have previously worked together for approximately 15 years. 
