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  4. Pacific Financial Corp Earns $2.7 Million, or $0.27 per Diluted Share for Second Quarter 2025;听Loan Growth Supports Net Interest Margin Expansion;听Declares Quarterly Cash Dividend of $0.14 per Share

Pacific Financial Corp Earns $2.7 Million, or $0.27 per Diluted Share for Second Quarter 2025;听Loan Growth Supports Net Interest Margin Expansion;听Declares Quarterly Cash Dividend of $0.14 per Share

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Pacific Financial Corporation (OTCQX: PFLC) reported strong Q2 2025 results with net income of $2.7 million, or $0.27 per diluted share, up from $2.4 million in Q1 2025 and $2.1 million in Q2 2024. The company declared a quarterly cash dividend of $0.14 per share.

Key highlights include a 6% loan growth to $746.5 million, improved net interest margin of 4.23%, and strong asset quality with non-performing assets at just 0.04% of total assets. The company maintains a robust deposit base with 40% non-interest-bearing deposits and 88% core deposits. Return on average assets (ROAA) improved to 0.89%, while return on average equity (ROAE) reached 9.14%.

The bank's capital position remains strong with an estimated leverage ratio of 10.9% and total risk-based capital ratio of 16.9%. Tangible book value per share increased to $10.53, up from $9.82 year-over-year.

Pacific Financial Corporation (OTCQX: PFLC) ha riportato risultati solidi nel secondo trimestre 2025 con un utile netto di 2,7 milioni di dollari, pari a 0,27 dollari per azione diluita, in aumento rispetto ai 2,4 milioni del primo trimestre 2025 e ai 2,1 milioni del secondo trimestre 2024. La societ脿 ha dichiarato un dividendo trimestrale in contanti di 0,14 dollari per azione.

I punti salienti includono una crescita dei prestiti del 6% che ha raggiunto 746,5 milioni di dollari, un margine di interesse netto migliorato al 4,23% e una solida qualit脿 degli attivi con attivit脿 non performanti pari a solo lo 0,04% del totale degli attivi. L'azienda mantiene una base di depositi robusta con il 40% di depositi senza interessi e l'88% di depositi core. Il ritorno sugli attivi medi (ROAA) 猫 salito allo 0,89%, mentre il ritorno sul capitale medio (ROAE) ha raggiunto il 9,14%.

La posizione patrimoniale della banca resta solida con un rapporto di leva stimato al 10,9% e un rapporto totale di capitale basato sul rischio del 16,9%. Il valore contabile tangibile per azione 猫 aumentato a 10,53 dollari, rispetto ai 9,82 dollari dell'anno precedente.

Pacific Financial Corporation (OTCQX: PFLC) report贸 s贸lidos resultados en el segundo trimestre de 2025 con un ingreso neto de 2.7 millones de d贸lares, o 0.27 d贸lares por acci贸n diluida, un aumento respecto a los 2.4 millones del primer trimestre de 2025 y 2.1 millones del segundo trimestre de 2024. La compa帽铆a declar贸 un dividendo trimestral en efectivo de 0.14 d贸lares por acci贸n.

Los aspectos destacados incluyen un crecimiento de pr茅stamos del 6% hasta 746.5 millones de d贸lares, un margen neto de inter茅s mejorado del 4.23% y una fuerte calidad de activos con activos no productivos en solo el 0.04% del total de activos. La empresa mantiene una base s贸lida de dep贸sitos con 40% de dep贸sitos sin intereses y 88% de dep贸sitos n煤cleo. El retorno sobre activos promedio (ROAA) mejor贸 a 0.89%, mientras que el retorno sobre el capital promedio (ROAE) alcanz贸 el 9.14%.

La posici贸n de capital del banco sigue siendo fuerte con una ratio de apalancamiento estimada del 10.9% y una ratio total de capital basado en riesgos del 16.9%. El valor tangible en libros por acci贸n aument贸 a 10.53 d贸lares, desde 9.82 d贸lares a帽o tras a帽o.

Pacific Financial Corporation (OTCQX: PFLC)電� 2025雲� 2攵勱赴鞐� 靾滌澊鞚� 270毵� 雼煬毳� 旮半頃橂┌ 臧曤牓頃� 鞁れ爜鞚� 氚滍憸頄堨姷雼堧嫟. 頋劃 欤茧嫻靾滌澊鞚奠潃 0.27雼煬搿�, 2025雲� 1攵勱赴 240毵� 雼煬 氚� 2024雲� 2攵勱赴 210毵� 雼煬鞐愳劀 歃濌皜頄堨姷雼堧嫟. 須岇偓電� 攵勱赴氤� 順勱笀 氚半嫻旮堨溂搿� 欤茧嫻 0.14雼煬毳� 靹犾柛頄堨姷雼堧嫟.

欤检殧 雮挫毄鞙茧電� 雽�於滌澊 6% 靹膘灔頃橃棳 7鞏� 4,650毵� 雼煬鞐� 霃勲嫭頄堨溂氅�, 靾滌澊鞛愲歆勳澊 4.23%搿� 臧滌劆霅橁碃, 攵�鞁れ瀽靷� 牍勳湪鞚� 齑濎瀽靷办潣 雼� 0.04%搿� 鞖办垬頃� 鞛愳偘 瓯挫爠靹膘潉 鞙犾頄堨姷雼堧嫟. 須岇偓電� 牍勳澊鞛愳槇旮� 40% 氚� 88%鞚� 頃奠嫭鞓堦笀鞚� 韽暔頃� 瓴碃頃� 鞓堦笀 旮半皹鞚� 鞙犾頃橁碃 鞛堨姷雼堧嫟. 韽夑窢鞛愳偘靾橃澋毳�(ROAA)鞚� 0.89%搿�, 韽夑窢鞛愱赴鞛愲掣靾橃澋毳�(ROAE)鞚� 9.14%鞐� 雼枅鞀惦媹雼�.

鞚�頄夓潣 鞛愲掣 靸來儨電� 於旍爼 霠堧矂毽 牍勳湪 10.9% 氚� 齑� 鞙勴棙旮半皹 鞛愲掣 牍勳湪 16.9%搿� 瓴碃頃橁矊 鞙犾霅橁碃 鞛堨姷雼堧嫟. 欤茧嫻 鞙犿槙鞛愳偘鞛ル秬臧�旃橂姅 鞝勲厔 雽�牍� 9.82雼煬鞐愳劀 10.53雼煬搿� 歃濌皜頄堨姷雼堧嫟.

Pacific Financial Corporation (OTCQX : PFLC) a annonc茅 de solides r茅sultats pour le deuxi猫me trimestre 2025, avec un b茅n茅fice net de 2,7 millions de dollars, soit 0,27 dollar par action dilu茅e, en hausse par rapport 脿 2,4 millions au premier trimestre 2025 et 2,1 millions au deuxi猫me trimestre 2024. La soci茅t茅 a d茅clar茅 un dividende trimestriel en esp猫ces de 0,14 dollar par action.

Les points forts comprennent une croissance des pr锚ts de 6% pour atteindre 746,5 millions de dollars, une marge d'int茅r锚t nette am茅lior茅e 脿 4,23%, et une qualit茅 d'actifs solide avec des actifs non performants repr茅sentant seulement 0,04% du total des actifs. La soci茅t茅 maintient une base de d茅p么ts robuste avec 40% de d茅p么ts sans int茅r锚ts et 88% de d茅p么ts de base. Le rendement des actifs moyens (ROAA) s'est am茅lior茅 脿 0,89%, tandis que le rendement des capitaux propres moyens (ROAE) a atteint 9,14%.

La position en capital de la banque reste solide avec un ratio d'effet de levier estim茅 脿 10,9% et un ratio total de capital bas茅 sur les risques de 16,9%. La valeur comptable tangible par action a augment茅 脿 10,53 dollars, contre 9,82 dollars d'une ann茅e sur l'autre.

Pacific Financial Corporation (OTCQX: PFLC) meldete starke Ergebnisse f眉r das zweite Quartal 2025 mit einem Nettogewinn von 2,7 Millionen US-Dollar bzw. 0,27 US-Dollar je verw盲sserter Aktie, was eine Steigerung gegen眉ber 2,4 Millionen im ersten Quartal 2025 und 2,1 Millionen im zweiten Quartal 2024 darstellt. Das Unternehmen erkl盲rte eine viertelj盲hrliche Bardividende von 0,14 US-Dollar je Aktie.

Wichtige Highlights sind ein 6%iges Kreditwachstum auf 746,5 Millionen US-Dollar, eine verbesserte Nettozinsmarge von 4,23% sowie eine starke Verm枚gensqualit盲t mit notleidenden Krediten von nur 0,04% der Gesamtaktiva. Das Unternehmen verf眉gt 眉ber eine robuste Einlagenbasis mit 40% zinsfreien Einlagen und 88% Kern-Einlagen. Die Rendite auf das durchschnittliche Verm枚gen (ROAA) verbesserte sich auf 0,89%, w盲hrend die Eigenkapitalrendite (ROAE) 9,14% erreichte.

Die Kapitalausstattung der Bank bleibt mit einer gesch盲tzten Verschuldungsquote von 10,9% und einer Gesamtkapitalquote auf risikobasierter Basis von 16,9% solide. Der materielle Buchwert je Aktie stieg im Jahresvergleich von 9,82 auf 10,53 US-Dollar.

Positive
  • None.
Negative
  • Total deposits decreased $3.8 million quarter-over-quarter
  • Provision for credit losses increased to $387,000 from $83,000 in previous quarter
  • Non-interest expenses increased to $9.7 million from $9.4 million in previous quarter

ABERDEEN, Wash., July 25, 2025 (GLOBE NEWSWIRE) -- Pacific Financial Corporation (OTCQX: PFLC), (鈥淧acific Financial鈥�) or (the 鈥淐ompany鈥�), the holding company for Bank of the Pacific (the 鈥淏ank鈥�), reported net income of $2.7 million, or $0.27 per diluted share for the second quarter of 2025, compared to $2.4 million, or $0.24 per diluted share for the first quarter of 2025, and $2.1 million, or $0.21 per diluted share for the second quarter of 2024. The current quarter鈥檚 net income relative to the prior quarter reflects an increase in net interest income and higher non-interest income, partially offset by an increase in non-interest expenses. Except for year-end December 31, 2024 financials, all results are unaudited.

The Board of Directors of Pacific Financial declared a quarterly cash dividend of $0.14 per share on July 16, 2025. The dividend will be payable on August 22, 2025 to shareholders of record on August 8, 2025.

鈥淲e are pleased with the strategic execution of loan growth initiatives throughout our network. Loan balances grew 6% in the second quarter, enabling us to convert cash into higher yielding loans. Loan demand improved compared to the first quarter, which had been tempered by economic uncertainty. This loan growth during the current quarter combined with a continued decrease in our deposit cost of funds resulted in an 11 basis point increase in our net interest margin. Our funding base continues to benefit from a large balance of non-interest bearing deposits which account for 40% of total deposits,鈥� said Denise Portmann, President and Chief Executive Officer.

鈥淎sset quality continues to remain pristine with non-performing assets totaling only 0.04% of total assets, or less than $500,000. We remain focused on delivering strong returns to our shareholders through our operations and managing our capital to support growth and enhance shareholder value," said Portmann.

Second Quarter 2025 Financial Highlights:

  • Return on average assets (鈥淩OAA鈥�) improved to 0.89%, compared to 0.81% for the first quarter 2025, and 0.76% for the second quarter 2024.
  • Return on average equity (鈥淩OAE鈥�) was 9.14%, compared to 8.48% from the preceding quarter, and 7.47% from the second quarter a year earlier.
  • Net interest income was $11.9 million, compared to $11.3 million for the first quarter of 2025, and $10.8 million for the second quarter of 2024.
  • Net interest margin (鈥淣IM鈥�) increased to 4.23%, compared to 4.12% from the preceding quarter, and 4.15% for the second quarter a year ago.
  • Provision for credit losses increased to $387,000 for the second quarter ended June 30, 2025 due to loan growth, compared to $83,000 for the preceding quarter and $304,000 in the second quarter a year ago.
  • Gross portfolio loan balances increased 6% to $746.5 million at June 30, 2025, compared to $707.0 million at March 31, 2025, and increased 6%, or $42.5 million from $704.0 million one year earlier.
  • Total deposits decreased $3.8 million to $1.07 billion at June 30, 2025 compared to the previous quarter and increased $85.2 million, or 9%, from one year earlier. Non-interest-bearing deposits were at 40% of total deposits at June 30, 2025 and support a lower cost core deposits portfolio. Core deposits were 88% of total deposits at June 30, 2025.
  • Non-performing assets to total assets ratio declined to 0.04%, or $468,000 for the current quarter end compared to 0.10% and $1.2 million three months earlier. Substandard loans decreased $1.0 million to $1.6 million at June 30, 2025 and special mention assets declined $494,000 to $9.6 million at June 30, 2025.
  • Shareholder equity increased $2.0 million during the quarter largely due to net income and lower accumulated other comprehensive loss marks on the available-for-sale investment portfolio, partially offset by dividend payments. The tangible book value per share was $10.53 at June 30, 2025, an increase from $9.82 at June 30, 2024.
  • Pacific Financial and Bank of the Pacific continue to exceed regulatory well-capitalized requirements. At June 30, 2025, Pacific Financial鈥檚 estimated leverage ratio was 10.9% and its estimated total risk-based capital ratio was 16.9%.

Balance Sheet Review

Total assets remained at $1.22 billion at June 30, 2025, and increased slightly from $1.12 billion at June 30, 2024.

Cash and interest earning deposits decreased $45.0 million to $98.8 million at June 30, 2025 from $143.8 million at March 31, 2025, and increased $22.9 million from $75.9 million one year earlier. The decrease compared to the prior quarter largely relates to funds used to support loan growth during the current quarter.

Liquidity metrics continue to be strong and are managed to ensure adequate funding resources are available to meet customer demand. At June 30, 2025, the Company鈥檚 on and off-balance sheet sources totaled $516.7 million. This represents a coverage ratio of short-term funds available to uninsured and uncollateralized deposits of 190%. Included in available sources are collateralized credit lines the Company has established with the Federal Home Loan Bank of Des Moines (FHLB) and the Federal Reserve Bank of San Francisco, as well as unsecured borrowing lines from various correspondent banks. There was no balance outstanding on any of these facilities at quarter-end. Uninsured or uncollateralized deposits were 25% of total deposits at June 30, 2025.

Investment securities increased $2.4 million to $307.8 million, compared to $305.4 million at March 31, 2025 and increased $29.1 million compared to a year ago. The largest investment category was collateralized mortgage obligations, which accounted for 52% of the investment portfolio at June 30, 2025, compared to 51% at March 31, 2025 and 46% one year earlier. The yield on the investment portfolio decreased 2 basis points during the current quarter to 3.58% from 3.60%, and increased 12 basis points from 3.46% the second quarter a year ago. The adjusted duration of the portfolio was 4.6 years at June 30, 2025 compared to 4.3 years at June 30, 2024.

Gross loans balances increased $39.4 million, to $746.5 million at June 30, 2025, compared to $707.0 million at March 31, 2025. During the second quarter of 2025, growth occurred in commercial and agricultural, owner and non-owner occupied commercial real estate, multi-family and residential 1-4 family loans, with owner and non-owner occupied commercial real estate increasing $16.3 million and $17.8 million, respectively. Year-over-year gross loan growth was 6%, or $42.5 million, with the largest increases in multi-family loans, and owner and non-owner occupied commercial real estate loans.

The Bank originated $63.9 million in portfolio credit commitments in the 2nd quarter of 2025 and $104.0 million during the first half of 2025. The loan pipeline continues to be supported by sustained business development activity of its commercial lending teams including our newest office in Lake Oswego, OR that opened in late 2024.

The Company continues to manage concentration limits that establish maximum exposure levels by certain industry segments, loan product types, geography and single borrower limits. In addition, the loan portfolio continues to be well-diversified and is collateralized with assets predominantly within the Company鈥檚 Western Washington and Oregon markets. Loans classified as commercial real estate for regulatory concentration purposes totaled $283.5 million at June 30, 2025, or 201% of total risk-based capital.

Credit quality: Nonperforming assets declined from the previous quarter and remain minimal at $468,000, or 0.04% of total assets at June 30, 2025, compared to $1.2 million, or 0.10% at March 31, 2025. Accruing loans past due more than 30 days represent only 0.02% of total loans. Total loans designated as special mention decreased $494,000 to $9.6 million at June 30, 2025 compared to $10.1 million at March 31, 2025. The Company has zero other real estate owned as of June 30, 2025.

Allowance for credit losses (鈥淎CL鈥�): ACL-loans increased $332,000 to $9.2 million, or 1.24% of gross loans at June 30, 2025. A provision for credit losses of $387,000 was recorded in the current quarter resulting from loan growth and net charge-offs. This compares to a provision for credit losses of $83,000 in the first quarter of 2025 and $304,000 for the second quarter one year earlier.

Total deposits decreased $3.8 million to $1.07 billion at June 30, 2025 compared to the previous quarter and increased $85.2 million from $985.6 million one year earlier. The company鈥檚 strong core deposit base continues to positively impact the Bank鈥檚 net interest margin and operating results. Core deposits represented 88% of total deposits at quarter end, including non-interest-bearing deposits of 40% of deposits, and interest-bearing demand and money market deposits each representing 19% of total deposits. CDs as a percentage of deposits remained at 12% of total deposits.

Shareholders鈥� equity was $118.9 million at June 30, 2025, compared to $116.9 million at March 31, 2025, and $114.9 million at June 30, 2024. The increase in shareholders鈥� equity during the current quarter was primarily due to $2.7 million in net income and a $704,000 decrease in unrealized losses on available-for-sale securities partially offset by $1.4 million in dividends to shareholders. Net unrealized losses (after-tax) included in shareholders鈥� equity on available-for-sale securities were $13.5 million at June 30, 2025 compared to $14.2 million at March 31, 2025 and $17.1 million at June 30, 2024.

Book value per common share was $11.87 at June 30, 2025, compared to $11.67 at March 31, 2025, and $11.12 at June 30, 2024. Tangible book value per common share was $10.53 at June 30, 2025 compared to $10.33 at March 31, 2025 and $9.82 at June 30, 2024. The Company鈥檚 tangible common equity ratio increased to 8.8% at June 30, 2025 relative to 8.6% the prior quarter and decreased from 9.1% at June 30, 2024. Regulatory capital ratios of both the Company and the Bank continue to exceed well-capitalized regulatory thresholds, with the Company鈥檚 leverage ratio at 10.9% and total risk-based capital ratio at 16.9% as of June 30, 2025. These regulatory capital ratios are estimates, pending completion and filing of regulatory reports.

Income Statement Review

Net interest income increased $625,000 to $11.9 million for the second quarter of 2025, compared to $11.3 million for the first quarter of 2025, and increased $1.1 million compared to $10.8 million for the second quarter a year ago. The change in the current quarter compared to the preceding quarter reflects the impact of higher loan yields and lower deposit and borrowing costs. For the six months ended June 30, 2025, net interest income increased to $23.2 million compared to $22.2 million for the like period a year ago.

The Bank鈥檚 net interest margin improved to 4.23% for the quarter ended June 30, 2025 from 4.12% the prior quarter and from 4.15% in the second quarter a year ago. During the quarter, $45.3 million in interest-earning cash was re-deployed into higher yielding loans. This change in balance sheet composition, combined with an increase in loan yield, decrease in costs of funds which were partially offset by a decrease in investment yields positively impacted the Bank鈥檚 net interest margin for the quarter. For the current quarter compared to the like quarter a year ago, net interest margin was also positively impacted by an increase in loan and investment yields and a decrease in cost of funds which were partially offset by the 100 basis decrease in yield on interest-earning cash.

Yields on loans increased 5 basis points to 6.02% for the second quarter of 2025 compared to 5.97% for the prior quarter and increased 22 basis points from 5.80% in the like quarter a year ago. Loan yields improved as longer term fixed and variable rate loans (originated in a lower rate environment) were renewed at higher rates. In addition, average loan yields on new originations were at higher yields than the current loan portfolio yield.

The Bank continues to actively monitor and manage its costs of funds and for the current quarter the Bank鈥檚 total cost of funds decreased 7 basis points to 1.03%, compared to 1.10% for the preceding quarter, and 1.05% for the second quarter 2024. The high percentage of non-interest-bearing deposits at 40% continues to help reduce volatility in deposit costs.

Noninterest income increased to $1.5 million for the current quarter, compared to $1.2 million for the linked quarter and decreased compared to $2.0 million for the second quarter a year earlier. The increase compared to the linked quarter was primarily the result of no losses realized on the sale of investment securities in the current quarter compared to a loss of $165,000 during the prior quarter as well as a $100,000 contract signing incentive recorded during the current quarter. Relative to the second quarter one year earlier, noninterest income decreased $476,000 due primarily to the loss of revenue associated with the mortgage banking division which was closed in late 2024. Fee and service charge income increased in the second quarter of 2025 to $1.3 million compared to $1.1 million in the previous quarter and $1.2 million in the second quarter of 2024. Total non-interest income was $2.6 million for the six months ended June 30, 2025 compared to $3.4 million for the same period a year ago.

Noninterest expenses increased to $9.7 million for the second quarter of 2025 compared to $9.4 million for the prior quarter and decreased compared to $9.8 million for the second quarter of 2024. The current quarter increases compared to the prior quarter were primarily related to an increase in salary and benefit expenses associated with increased health insurance claims and accruals, normal salary and wage increases and higher technology costs, partially offset by decreased professional services for the quarter.

For the six months ended June听30, 2025, total non-interest expense was $19.2 million, compared to $19.4 million for the six months ended June听30, 2024. The decrease in non-interest expense for first half of 2025 compared to the same period a year ago primarily relates to the closure of the mortgage banking division in the fourth quarter of 2024, as the first half of 2024 includes operating costs of that mortgage banking division. Offsetting the reduction in mortgage banking costs were increased salary and benefit expenses associated with increased health insurance claims and accruals, normal salary and wage increases, higher technology costs, and occupancy costs. The Bank鈥檚 efficiency ratio was 72.47% for the second quarter of 2025, compared to 75.86% in the preceding quarter and 77.34% in the same quarter a year ago.

Income tax expense: Federal and Oregon state income tax expenses totaled $633,000 for the current quarter, and $544,000 for the preceding quarter, resulting in effective tax rates of 19.2% and 18.6%, respectively. These income tax expenses reflect the benefits of tax exempt income on tax-exempt loans and investments, affordable housing tax credit financing, and investments in bank-owned life insurance.

FINANCIAL HIGHLIGHTS (unaudited)Quarter Ended
听Change From
听Six Months Ended
听Change
(In 000s, except per share data)听听听听听听听听听听听听听听听听听听听听听
听听Jun 30,听Mar 31,听Jun 30,听听Mar 31, 2025听Jun 30, 2024听Jun 30,听Jun 30,听听听听
听听2025听听2025听听2024听听听$%听$%听2025听听2024听听听$%
Earnings Ratios & Data听听听听听听听听听听听听听听听听听听听听听
Net Income$2,669听$2,377听$2,126听听$292听12%听$543听26%听$5,049听$4,776听听$273听6%听
Return on average assets听0.89%听听0.81%听听0.76%听听听0.08%听听听0.13%听听听0.85%听听0.85%听听听0.00%听听
Return on average equity听9.14%听听8.48%听听7.47%听听听0.66%听听听1.67%听听听8.82%听听8.40%听听听0.42%听听
Efficiency ratio(1)听72.47%听听75.86%听听77.34%听听听-3.39%听听听-4.87%听听听74.09%听听75.77%听听听-1.68%听听
Net-interest margin %(2)听4.23%听听4.12%听听4.15%听听听0.11%听听听0.08%听听听4.18%听听4.27%听听听-0.09%听听
听听听听听听听听听听听听听听听听听听听听听听
Share Ratios & Data听听听听听听听听听听听听听听听听听听听听听
Basic earnings per share$0.27听$0.24听$0.21听听$0.03听13%听$0.06听29%听$0.50听$0.46听听$0.04听听
Diluted earning per share$0.27听$0.24听$0.21听听$0.03听13%听$0.06听29%听$0.50听$0.46听听$0.04听听
Book value per share(3)$11.87听$11.67听$11.12听听$0.20听2%听$0.75听7%听听听听听听听听听
Tangible book value per share(4)$10.53听$10.33听$9.82听听$0.20听2%听$0.71听7%听听听听听听听听听
Common shares outstanding听10,020听听10,020听听10,336听听听-听0%听听(316)-3%听听听听听听听听听
PFLC stock price$10.69听$10.90听$9.76听听$(0.21)-2%听$0.93听10%听听听听听听听听听
Dividends paid per share$0.14听$0.14听$0.14听听$-听0%听$-听0%听$0.28听$0.28听听$-听0%听
听听听听听听听听听听听听听听听听听听听听听听
Balance Sheet Data听听听听听听听听听听听听听听听听听听听听听
Assets$1,215,468听$1,218,969听$1,124,295听听$(3,501)0%听$91,173听8%听听听听听听听听听
Portfolio Loans$746,475听$707,034听$703,977听听$39,441听6%听$42,498听6%听听听听听听听听听
Deposits$1,070,831听$1,074,646听$985,627听听$(3,815)0%听$85,204听9%听听听听听听听听听
Investments$307,790听$305,377听$278,728听听$2,413听1%听$29,062听10%听听听听听听听听听
Shareholders equity$118,937听$116,949听$114,923听听$1,988听2%听$4,014听3%听听听听听听听听听
听听听听听听听听听听听听听听听听听听听听听听
Liquidity Ratios听听听听听听听听听听听听听听听听听听听听听
Short-term funding to uninsured听听听听听听听听听听听听听听听听听听听听听
and uncollateralized deposits听190%听听212%听听229%听听听-22%听听听-39%听听听听听听听听听听
Uninsured and uncollateralized听听听听听听听听听听听听听听听听听听听听听
deposits to total deposits听25%听听24%听听24%听听听1%听听听1%听听听听听听听听听听
Portfolio loans to deposits ratio听70%听听66%听听71%听听听4%听听听-1%听听听听听听听听听听
听听听听听听听听听听听听听听听听听听听听听听
Asset Quality Ratios听听听听听听听听听听听听听听听听听听听听听
Non-performing assets to assets听0.04%听听0.10%听听0.12%听听听-0.06%听听听-0.08%听听听听听听听听听听
Non-accrual loans to portfolio loans听0.06%听听0.17%听听0.19%听听听-0.11%听听听-0.13%听听听听听听听听听听
Loan losses to avg portfolio loans听0.04%听听0.04%听听0.03%听听听0.00%听听听0.01%听听听0.04%听听0.03%听听听0.01%听听
ACL-loans to portfolio loans听1.24%听听1.26%听听1.26%听听听-0.02%听听听-0.02%听听听听听听听听听听
听听听听听听听听听听听听听听听听听听听听听听
Capital Ratios (PFC)听听听听听听听听听听听听听听听听听听听听听
Total risk-based capital ratio听16.9%听听17.4%听听17.6%听听听-0.5%听听听-0.7%听听听听听听听听听听
Tier 1 risk-based capital ratio听15.7%听听16.3%听听16.4%听听听-0.6%听听听-0.7%听听听听听听听听听听
Common equity tier 1 ratio听14.2%听听14.7%听听14.8%听听听-0.5%听听听-0.6%听听听听听听听听听听
Leverage ratio听10.9%听听10.9%听听11.7%听听听0.0%听听听-0.8%听听听听听听听听听听
Tangible common equity ratio听8.8%听听8.6%听听9.1%听听听0.2%听听听-0.3%听听听听听听听听听听
听听听听听听听听听听听听听听听听听听听听听听
(1)Non-interest expense divided by net interest income plus noninterest income.听听听听听听听听听听听听
(2)Tax-exempt income has been adjusted to a tax equivalent basis at a rate of 21%.听听听听听听听听听听听听
(3)Book value per share is calculated as the total common shareholders' equity divided by the period ending number of common stock shares outstanding.
(4)Tangible book value per share is calculated as the total common shareholders' equity less total intangible assets and liabilities, divided by the period ending number of common stock shares outstanding.
听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听
听听听听听听听听听听听听听听听听听听听听听听
INCOME STATEMENT (unaudited)Quarter Ended
听Change From
听Six Months Ended
听Change
($ in 000s)听听听听听听听听听听听听听听听听听听听听听
听听Jun 30,听Mar 31,听Jun 30,听听Mar 31, 2025听Jun 30, 2024听Jun 30,听Jun 30,听听听听
听听2025听听2025听听2024听听听$%听$%听2025听听2024听听听$%
Interest Income听听听听听听听听听听听听听听听听听听听听听
Loan interest & fee income$10,840听$10,304听$10,109听听$536听5%听$731听7%听$21,144听$20,333听听$811听4%听
Interest earning cash income听1,124听听1,208听听847听听听(84)-7%听听277听33%听听2,332听听1,782听听听550听31%听
Investment income听2,728听听2,678听听2,410听听听50听2%听听318听13%听听5,407听听4,885听听听522听11%听
Interest Income听14,692听听14,190听听13,366听听听502听4%听听1,326听10%听听28,883听听27,000听听听1,883听7%听
听听听听听听听听听听听听听听听听听听听听听听
Interest Expense听听听听听听听听听听听听听听听听听听听听听
Deposits interest expense听2,571听听2,694听听2,358听听听(123)-5%听听213听9%听听5,265听听4,349听听听916听21%听
Other borrowings interest expense听206听听206听听242听听听-听0%听听(36)-15%听听412听听484听听听(72)-15%听
Interest Expense听2,777听听2,900听听2,600听听听(123)-4%听听177听7%听听5,677听听4,833听听听844听17%听
Net Interest Income听11,915听听11,290听听10,766听听听625听6%听听1,149听11%听听23,206听听22,167听听听1,039听5%听
Provision(recapture) for credit losses听387听听83听听304听听听304听366%听听83听27%听听470听听337听听听133听39%听
Net Interest Income after provision听11,528听听11,207听听10,462听听听321听3%听听1,066听10%听听22,736听听21,830听听听906听4%听
听听听听听听听听听听听听听听听听听听听听听听
Non-Interest Income听听听听听听听听听听听听听听听听听听听听听
Fees and service charges听1,293听听1,117听听1,198听听听176听16%听听95听8%听听2,410听听2,299听听听111听5%听
Gain on sale of investments, net听-听听(165)听121听听听165听-100%听听(121)-100%听听(165)听121听听听(286)-236%听
Gain on sale of loans, net听-听听(2)听445听听听2听-100%听听(445)-100%听听(2)听597听听听(599)-100%听
Income on bank-owned insurance听191听听191听听182听听听-听0%听听9听5%听听383听听362听听听21听6%听
Other non-interest income听3听听12听听17听听听(9)-75%听听(14)-82%听听15听听27听听听(12)-44%听
Non-Interest Income听1,487听听1,153听听1,963听听听334听29%听听(476)-24%听听2,641听听3,406听听听(765)-22%听
听听听听听听听听听听听听听听听听听听听听听听
Non-Interest Expense听听听听听听听听听听听听听听听听听听听听听
Salaries and employee benefits听6,103听听5,969听听6,321听听听134听2%听听(218)-3%听听12,072听听12,315听听听(243)-2%听
Occupancy听618听听592听听564听听听26听4%听听54听10%听听1,209听听1,205听听听4听0%听
Furniture, Fixtures & Equipment听305听听302听听267听听听3听1%听听38听14%听听606听听551听听听55听10%听
Marketing & donations听157听听153听听176听听听4听3%听听(19)-11%听听310听听329听听听(19)-6%听
Professional services听254听听299听听327听听听(45)-15%听听(73)-22%听听553听听663听听听(110)-17%听
Data Processing & IT听1,250听听1,218听听1,165听听听32听3%听听85听7%听听2,468听听2,356听听听112听5%听
Other听1,026听听906听听1,025听听听120听13%听听1听0%听听1,932听听1,958听听听(26)-1%听
Non-Interest Expense听9,713听听9,439听听9,845听听听274听3%听听(132)-1%听听19,150听听19,377听听听(227)-1%听
Income before income taxes听3,302听听2,921听听2,580听听听381听13%听听722听28%听听6,227听听5,859听听听368听6%听
Provision for income taxes听633听听544听听454听听听89听16%听听179听39%听听1,178听听1,083听听听95听9%听
Net Income$2,669听$2,377听$2,126听听$292听12%听听543听26%听$5,049听$4,776听听$273听6%听
听听听听听听听听听听听听听听听听听听听听听听
Effective tax rate听19.2%听听18.6%听听17.6%听听听0.6%听听听1.6%听听听18.9%听听18.5%听听听0.4%听听
听听听听听听听听听听听听听听听听听听听听听听


BALANCE SHEET (unaudited)Period Ended
听Change from
听% of Total
听($ in 000s)听听听听听听听听听听听听听听听听听
听听Jun 30,听Mar 31,听Jun 30,听听Mar 31, 2025Jun 30, 2024听Jun 30,Mar 31,Jun 30,
听听2025听听2025听听2024听听听$%听$%听2025听2025听2024听
Assets听听听听听听听听听听听听听听听听听
Cash on hand and in banks$19,305听$18,975听$17,362听听$330听2%$1,943听11%听2%2%2%
Interest earning deposits听79,520听听124,854听听58,586听听听(45,334)-36%听20,934听36%听7%10%5%
Investment securities听307,790听听305,377听听278,728听听听2,413听1%听29,062听10%听25%25%25%
Loans held-for-sale听-听听-听听4,051听听听-听-100%听(4,051)-100%听0%0%0%
Portfolio Loans, net of deferred fees听745,834听听706,439听听703,322听听听39,395听6%听42,512听6%听61%58%63%
Allowance for credit losses听(9,222)听(8,890)听(8,859)听听(332)4%听(363)4%听-1%-1%-1%
Net loans听736,612听听697,549听听694,463听听听39,063听6%听42,149听6%听61%57%62%
Premises & equipment听16,494听听16,702听听15,571听听听(208)-1%听923听6%听1%1%2%
Goodwill & Other Intangibles听13,435听听13,435听听13,435听听听-听0%听-听0%听1%1%1%
Bank-owned life Insurance听28,395听听28,204听听27,860听听听191听1%听535听2%听2%2%2%
Other assets听13,917听听13,873听听14,239听听听44听0%听(322)-2%听2%2%1%
Total Assets$1,215,468听$1,218,969听$1,124,295听听$(3,501)0%$91,173听8%听100%100%100%
听听听听听听听听听听听听听听听听听听
Liabilities & Shareholders' Equity听听听听听听听听听听听听听听听听听
Deposits$1,070,831听$1,074,646听$985,627听听$(3,815)0%$85,204听9%听88%88%88%
Borrowings听13,403听听13,403听听13,403听听听-听0%听-听0%听1%1%1%
Other liabilities听12,297听听13,971听听10,342听听听(1,674)-12%听1,955听19%听1%1%1%
Shareholders' equity听118,937听听116,949听听114,923听听听1,988听2%听4,014听3%听10%10%10%
Liabilities & Shareholders' Equity$1,215,468听$1,218,969听$1,124,295听听$(3,501)0%$91,173听8%听100%100%100%
听听听听听听听听听听听听听听听听听听


INVESTMENT COMPOSITION &
CONCENTRATIONS (unaudited)
Period Ended
听Change from
听% of Total
($ in 000s)听听听听听听听听听听听听听听听听听
听听Jun 30,听Mar 31,听Jun 30,听听Mar 31, 2025Jun 30, 2024听Jun 30,Mar 31,Jun 30,
听听2025听听2025听听2024听听听$%听$%听2025听2025听2024听
Investment Securities听听听听听听听听听听听听听听听听听
Collateralized mortgage obligations$159,386听$156,105听$125,937听听$3,281听2%$33,449听27%听52%51%46%
Mortgage backed securities听47,094听听40,396听听37,159听听听6,698听17%听9,935听27%听15%13%13%
U.S. Government and agency securities听58,668听听68,392听听72,504听听听(9,724)-14%听(13,836)-19%听19%22%26%
Municipal securities听42,642听听40,484听听43,128听听听2,158听5%听(486)-1%听14%14%15%
Investment Securities$307,790听$305,377听$278,728听听$2,413听1%$29,062听10%听100%100%100%
听听听听听听听听听听听听听听听听听听
Held to maturity securities$29,950听$40,718听$43,244听听$(10,768)-26%$(13,294)-31%听10%13%16%
Available for sale securities$277,840听$264,659听$235,484听听$13,181听5%$42,356听18%听90%87%84%
听听听听听听听听听听听听听听听听听听
Government & Agency securities$265,122听$264,866听$235,570听听$256听0%$29,552听13%听86%87%85%
AAA, AA, A rated securities$41,979听$39,822听$42,471听听$2,157听5%$(492)-1%听14%13%15%
Non-rated securities$689听$689听$687听听$-听0%$2听0%听0%0%0%
听听听听听听听听听听听听听听听听听听
AFS Unrealized Gain (Loss)$(17,375)$(18,284)$(21,978)听$909听-5%$4,603听-21%听-6%-6%-8%


LIQUIDITY (unaudited)Period Ended
听Change from
听% of Deposits
($ in 000s)听听听听听听听听听听听听听听听听听听听听听听听听
听听听听听听听听听听听听听听听听听听
听听Jun 30,听Mar 31,听Jun 30,听听Mar 31, 2025Jun 30, 2024听Jun 30,Mar 31,Jun 30,
听听2025听2025听2024听听$%听$%听2025听2025听2024听
Short-term Funding听听听听听听听听听听听听听听听听听
Cash and cash equivalents$84,957$129,616$63,183听$(44,659)-34%$21,774听34%听8%12%6%
Unencumbered AFS Securities听114,077听104,237听139,581听听9,840听9%听(25,504)-18%听11%10%14%
Secured lines of Credit (FHLB, FRB)听317,651听315,876听332,674听听1,775听1%听(15,023)-5%听30%29%34%
Short-term Funding$516,685$549,729$535,438听$(33,044)-6%$(18,753)-4%听49%51%54%
听听听听听听听听听听听听听听听听听听


PORTFOLIO LOAN COMPOSITION &
CONCENTRATIONS (unaudited)		Period Ended
听Change from
听% of Total
($ in 000s)听听听听听听听听听听听听听听听听听
听听Jun 30,听Mar 31,听Jun 30,听听Mar 31, 2025Jun 30, 2024听Jun 30,Mar 31,Jun 30,
听听2025听听2025听听2024听听听$%听$%听2025听2025听2024听
Portfolio Loans听听听听听听听听听听听听听听听听听
Commercial & agriculture$74,831听$70,209听$74,952听听$4,622听7%$(121)0%听10%10%11%
AG真人官方 estate:听听听听听听听听听听听听听听听听听
Construction and development听30,869听听34,669听听47,856听听听(3,800)-11%听(16,987)-35%听4%5%7%
Residential 1-4 family听103,233听听101,810听听105,807听听听1,423听1%听(2,574)-2%听14%14%15%
Multi-family听78,409听听72,313听听58,003听听听6,096听8%听20,406听35%听10%10%8%
CRE -- owner occupied听193,127听听176,850听听169,491听听听16,277听9%听23,636听14%听26%25%24%
CRE -- non owner occupied听177,860听听160,022听听157,591听听听17,838听11%听20,269听13%听24%23%22%
Farmland听27,202听听27,411听听27,195听听听(209)-1%听7听0%听4%4%4%
Consumer听60,944听听63,750听听63,082听听听(2,806)-4%听(2,138)-3%听8%9%9%
Portfolio Loans听746,475听听707,034听听703,977听听$39,441听6%$42,498听6%听100%100%100%
Less: ACL听(9,222)听(8,890)听(8,859)听听听听听听听听听听听
Less: deferred fees听(641)听(595)听(655)听听听听听听听听听听听
Net loans$736,612听$697,549听$694,463听听听听听听听听听听听听
听听听听听听听听听听听听听听听听听听
Regulatory Commercial AG真人官方 Estate$283,527听$263,424听$260,068听听$20,103听8%$23,459听9%听38%37%37%
Total Risk Based Capital(1)$140,987听$139,133听$140,176听听$1,854听1%$811听1%听听听听
CRE to Risk Based Capital(1)听201%听听189%听听186%听听听听12%听听15%听听听听
听听听听听听听听听听听听听听听听听听
CRE--MULTI-FAMILY & NON OWNER
OCCUPIED COMPOSITION (unaudited)		Period Ended
听Change from
听% of Total
($ in 000s)听听听听听听听听听听听听听听听听听
听听Jun 30,听Mar 31,听Jun 30,听听Mar 31, 2025Jun 30, 2024听Jun 30,Mar 31,Jun 30,
听听2025听听2025听听2024听听听$%听$%听2025听2025听2024听
Collateral Composition(2)听听听听听听听听听听听听听听听听听
Multifamily$78,760听$76,421听$63,243听听$2,339听3%$15,517听25%听30%31%27%
Retail听36,384听听36,616听听36,074听听听(232)-1%听310听1%听14%15%16%
Hospitality听32,573听听31,772听听30,248听听听801听3%听2,325听8%听12%13%13%
Office听26,034听听23,975听听23,266听听听2,059听9%听2,768听12%听10%10%10%
Mixed Use听24,480听听22,706听听23,520听听听1,774听8%听960听4%听9%9%10%
Mini Storage听22,488听听22,654听听23,619听听听(166)-1%听(1,131)-5%听8%9%11%
Special Purpose听17,342听听6,874听听7,014听听听10,468听152%听10,328听147%听7%3%3%
Industrial听14,430听听15,230听听13,691听听听(800)-5%听739听5%听5%6%6%
Warehouse听10,394听听8,146听听7,631听听听2,248听28%听2,763听36%听4%3%3%
Other听2,620听听2,648听听3,213听听听(28)-1%听(593)-18%听1%1%1%
Total$265,505听$247,042听$231,519听听$18,463听7%$33,986听15%听100%100%100%
听听听听听听听听听听听听听听听听听听
(1)Bank of the Pacific听听听听听听听听听听听听听听听听听
(2)Includes loans in process of construction听听听听听听听听听听听听听听听听听


CREDIT QUALITY (unaudited)Period Ended
听Change from
听听听听听听听听听听听听听听听听听听听听听
($ in 000s)听听听听听听听听听听听听听
听听Jun 30,听Mar 31,听Jun 30,听听Mar 31, 2025Jun 30, 2024
听听2025听听2025听听2024听听听$%听$%
Risk Rating Distribution听听听听听听听听听听听听听
Pass$735,200听$694,240听$694,272听听$40,960听6%$40,928听6%
Special Mention听9,637听听10,131听听4,731听听听(494)-5%听4,906听104%
Substandard听1,638听听2,663听听4,974听听听(1,025)-38%听(3,336)-67%
Portfolio Loans$746,475听$707,034听$703,977听听$39,441听6%$42,498听6%
听听听听听听听听听听听听听听
Nonperforming Assets听听听听听听听听听听听听听
Nonaccruing loans听468听听1,225听听1,370听听$(757)-62%听(902)-66%
Other real estate owned听-听听-听听-听听听-听0%听-听0%
Nonperforming Assets$468听$1,225听$1,370听听$(757)-62%听(902)-66%
听听听听听听听听听听听听听听
Credit Metrics听听听听听听听听听听听听听
Classified loans1 to portfolio loans听0.22%听听0.38%听听0.71%听听听-0.16%听听听-0.49%听听
ACL to classified loans1听563.00%听听333.83%听听178.11%听听听229.17%听听听384.89%听听
Loans past due 30+ days to portfolio loans2听0.02%听听0.04%听听0.04%听听听-0.02%听听听-0.02%听听
Nonperforming assets to total assets听0.04%听听0.10%听听0.12%听听听-0.06%听听听-0.08%听听
Nonaccruing loans to portfolio loans听0.06%听听0.17%听听0.19%听听听-0.11%听听听-0.13%听听
听听听听听听听听听听听听听听
(1) Classified loans include loans rated substandard or worse and are defined as loans having a well-defined weakness or weaknesses related to the borrower's financial capacity or to pledged collateral that may jeopardize the repayment of the debt. They are characterized by the possibility that the Bank may sustain some loss if the deficiencies giving rise to the substandard classification are not corrected.
(2) Excludes non-accrual loans听听听听听听听听听听听听听


DEPOSIT COMPOSITION & CONCENTRATIONS
(unaudited)		Period Ended
听Change from
听% of Total
($ in 000s)听听听听听听听听听听听听听听听听听
听听Jun 30,听Mar 31,听Jun 30,听听Mar 31, 2025Jun 30, 2024听Jun 30,Mar 31,Jun 30,
听听2025听2025听2024听听$%听$%听2025听2025听2024听
Deposits听听听听听听听听听听听听听听听听听
Interest-bearing demand$207,208$243,363$179,278听$(36,155)-15%$27,930听16%听19%23%18%
Money market听200,251听197,184听180,727听听3,067听2%听19,524听11%听19%18%18%
Savings听111,577听117,130听121,851听听(5,553)-5%听(10,274)-8%听10%11%12%
Time deposits (CDs)听131,729听134,226听125,560听听(2,497)-2%听6,169听5%听12%12%13%
Total interest-bearing deposits听650,765听691,903听607,416听听(41,138)-6%听43,349听7%听60%64%61%
Non-interest bearing demand听420,066听382,743听378,211听听37,323听10%听41,855听11%听40%36%39%
Total deposits$1,070,831$1,074,646$985,627听$(3,815)0%$85,204听9%听100%100%100%
听听听听听听听听听听听听听听听听听听
Insured Deposits$618,964$630,940$632,923听$(11,976)-2%$(360,455)-57%听58%59%64%
Collateralized Deposits听179,399听183,842听118,966听听(4,443)-2%听60,433听51%听17%17%12%
Uninsured Deposits听272,468听259,864听233,738听听12,604听5%听385,226听165%听25%24%24%
Total Deposits$1,070,831$1,074,646$985,627听$(3,815)0%$85,204听9%听100%100%100%
听听听听听听听听听听听听听听听听听听
Consumer Deposits$462,889$472,839$458,249听$(9,950)-2%$4,640听1%听43%44%47%
Business Deposits听417,675听407,974听398,719听听9,701听2%听18,956听5%听39%38%40%
Public Deposits听190,267听193,833听128,659听听(3,566)-2%听61,608听48%听18%18%13%
Total Deposits$1,070,831$1,074,646$985,627听$(3,815)0%$85,204听9%听100%100%100%
听听听听听听听听听听听听听听听听听听


NET INTEREST MARGIN (unaudited)Quarter Ended
听Change From
听Six Months Ended
听Change
($ in 000s)听听听听听听听听听听听听听听听听听听听听听
听听Jun 30,听Mar 31,听Jun 30,听听Mar 31, 2025听Jun 30, 2024听Jun 30,听Jun 30,听听听听
听听2025听听2025听听2024听听听$%听$%听2025听听2024听听听$%
听听听听听听听听听听听听听听听听听听听听听听
Average Interest Bearing Balances听听听听听听听听听听听听听听听听听听听听听
Portfolio loans$723,472听$701,071听$699,404听听$22,401听3%$24,068听3%$712,334听$694,161听听$18,173听3%
Loans held for sale$-听$-听$1,593听听$-听-100%$(1,593)-100%$-听$1,094听听$(1,094)-100%
Investment securities$308,774听$305,074听$283,637听听$3,700听1%$25,137听9%$306,934听$288,006听听$18,928听7%
Interest earning cash$101,170听$110,007听$62,494听听$(8,837)-8%$38,676听62%$105,563听$65,684听听$39,879听61%
Total interest-earning assets$1,133,416听$1,116,152听$1,047,128听听$17,264听2%$86,288听8%$1,124,831听$1,048,945听听$75,886听7%
Non-interest bearing deposits$389,453听$378,470听$387,740听听$10,983听3%$1,713听0%$383,992听$391,372听听$(7,380)-2%
Interest-bearing deposits$677,660听$675,122听$596,121听听$2,538听0%$81,539听14%$676,398听$593,266听听$83,132听14%
Total Deposits$1,067,113听$1,053,592听$983,861听听$13,521听1%$83,252听8%$1,060,390听$984,638听听$75,752听8%
Borrowings$13,403听$13,403听$13,404听听$-听0%$(1)0%$13,403听$13,401听听$2听0%
Total interest-bearing liabilities$691,063听$688,525听$609,525听听$2,538听0%$81,538听13%$689,801听$606,667听听$83,134听14%
听听听听听听听听听听听听听听听听听听听听听听
Yield / Cost $(1)听听听听听听听听听听听听听听听听听听听听听
Portfolio loans$10,854听$10,316听$10,092听听$538听5%$762听8%$21,170听$20,325听听$845听4%
Loans held for sale$-听$-听$28听听$-听-100%$(28)-100%$-听$33听听$(33)-100%
Investment securities$2,755听$2,710听$2,442听听$45听2%$313听13%$5,465听$4,951听听$514听10%
Interest-bearing cash$1,124听$1,208听$847听听$(84)-7%$277听33%$2,332听$1,782听听$550听31%
Total interest-earning assets$14,733听$14,234听$13,410听听$499听4%$1,323听10%$28,966听$27,092听听$1,874听7%
Interest-bearing deposits$2,571听$2,694听$2,358听听$(123)-5%$213听9%$5,265听$4,349听听$916听21%
Borrowings$206听$206听$242听听$-听0%$(36)-15%$412听$484听听$(72)-15%
Total interest-bearing liabilities$2,777听$2,900听$2,600听听$(123)-4%$177听7%$5,677听$4,833听听$844听17%
Net interest income$11,956听$11,334听$10,810听听$622听5%$1,146听11%$23,289听$22,259听听$1,030听5%
听听听听听听听听听听听听听听听听听听听听听听
Yield / Cost %(1)听听听听听听听听听听听听听听听听听听听听听
Yield on portfolio loans听6.02%听听5.97%听听5.80%听听听0.05%听听听0.22%听听听5.99%听听5.89%听听听0.10%听听
Yield on investment securities听3.58%听听3.60%听听3.46%听听听-0.02%听听听0.12%听听听3.59%听听3.46%听听听0.13%听听
Yield on interest-bearing cash听4.46%听听4.45%听听5.46%听听听0.01%听听听-1.00%听听听4.45%听听5.46%听听听-1.01%听听
Cost of interest-bearing deposits听1.52%听听1.62%听听1.59%听听听-0.10%听听听-0.07%听听听1.57%听听1.47%听听听0.10%听听
Cost of borrowings听6.16%听听6.23%听听7.26%听听听-0.07%听听听-1.10%听听听6.20%听听7.26%听听听-1.06%听听
Cost of deposits and borrowings听1.03%听听1.10%听听1.05%听听听-0.07%听听听-0.02%听听听1.07%听听0.97%听听听0.10%听听
听听听听听听听听听听听听听听听听听听听听听听
Yield on interest-earning assets听5.21%听听5.17%听听5.15%听听听0.04%听听听0.06%听听听5.19%听听5.19%听听听0.00%听听
Cost of interest-bearing liabilities听1.61%听听1.71%听听1.72%听听听-0.10%听听听-0.11%听听听1.66%听听1.60%听听听0.06%听听
Net interest spread听3.60%听听3.46%听听3.43%听听听0.14%听听听0.17%听听听3.53%听听3.59%听听听-0.06%听听
Net interest margin听4.23%听听4.12%听听4.15%听听听0.11%听听听0.08%听听听4.18%听听4.27%听听听-0.09%听听
听听听听听听听听听听听听听听听听听听听听听听
(1) Tax-exempt income has been adjusted to a tax equivalent basis at a rate of 21%.听听听听听听听听听听听听听听听
听听听听听听听听听听听听听听听听听听听听听听


ALLOWANCE FOR CREDIT LOSSES
(ACL) (unaudited)		Quarter Ended
听Change From
听Six Months Ended
听Change
听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听
($ in 000s)听听听听听听听听听听听听听听听听听听听听听
听听Jun 30,听Mar 31,听Jun 30,听听Mar 31, 2025听Jun 30, 2024听Jun 30,听Jun 30,听听听听
听听2025听听2025听听2024听听听$%听$%听2025听听2024听听听$%
ACL-Loans听听听听听听听听听听听听听听听听听听听听听
Beginning of period balance$8,890听$8,851听$8,580听听$39听0%$310听4%$8,851听$8,530听听$321听4%
Charge-offs听(76)听(75)听(57)听听(1)1%听(19)33%听(151)听(92)听听(59)64%
Recoveries听1听听-听听1听听听1听100%听-听0%听1听听3听听听(2)-67%
Net (charge-off) recovery听(75)听(75)听(56)听听-听0%听(19)34%听(150)听(89)听听(61)69%
Provision (recapture)听407听听114听听335听听听293听257%听72听21%听521听听418听听听103听25%
End of period balance$9,222听$8,890听$8,859听听$332听4%$363听4%$9,222听$8,859听听$363听4%
听听听听听听听听听听听听听听听听听听听听听听
Net charge-off (recovery) to听听听听听听听听听听听听听听听听听听听听听
average portfolio loans听0.04%听听0.04%听听0.03%听听听0.00%听听听0.01%听听听0.04%听听0.03%听听听0.01%听听
ACL-loans to portfolio loans听1.24%听听1.26%听听1.26%听听听-0.02%听听听-0.02%听听听1.24%听听1.26%听听听-0.02%听听
听听听听听听听听听听听听听听听听听听听听听听
ACL-Unfunded Loans Commitments听听听听听听听听听听听听听听听听听听听听听
Beginning of period balance$509听$540听$648听听$(31)-6%$(139)-21%$540听$698听听$(158)-23%
Provision (recapture)听(20)听(31)听(31)听听11听-35%听11听-35%听(51)听(81)听听30听-37%
End of period balance$489听$509听$617听听$(20)-4%$(128)-21%$489听$617听听$(128)-21%
听听听听听听听听听听听听听听听听听听听听听听

ABOUT PACIFIC FINANCIAL CORPORATION

Pacific Financial Corporation of Aberdeen, Washington, is the bank holding company for Bank of the Pacific, a state chartered and federally insured commercial bank. Bank of the Pacific offers banking products and services to small-to-medium sized businesses and professionals in western Washington and Oregon. At June 30, 2025, the Company had total assets of $1.22 billion and operated fifteen branches in the communities of Grays Harbor, Pacific, Thurston, Whatcom, Skagit, Clark and Wahkiakum counties in the State of Washington, and three branches in the communities of Clatsop and Clackamas counties in Oregon. The Company also operated loan production offices in the communities of Burlington, Washington and Salem, Oregon. Visit the Company鈥檚 website at . Member FDIC.

Cautions Concerning Forward-Looking Statements
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other laws, including all statements in this release that are not historical facts or that relate to future plans or events or projected results of Pacific Financial Corporation and its wholly-owned subsidiary, Bank of the Pacific. Such statements are based on information available at the time of communication and are based on current beliefs and expectations of the Company鈥檚 management and are subject to risks and uncertainties, many of which are beyond our control, which could cause actual events or results to differ materially from those projected, anticipated or implied, and could negatively impact the Company鈥檚 operating and stock price performance. These risks and uncertainties include various risks associated with growing the Bank and expanding the services it provides, development of new business lines and markets, competition in the marketplace, general economic conditions, changes in interest rates, extensive and evolving regulation of the banking industry, and many other risks. Any forward-looking statements in this communication are based on information at the time the statement is made. We undertake no obligation to update or revise any forward-looking statement. Readers of this release are cautioned not to put undue reliance on forward-looking statements.

CONTACTS:
DENISE PORTMANN, PRESIDENT & CEO
CARLA TUCKER, EVP & CFO
360.533.8873


FAQ

What was Pacific Financial's (PFLC) earnings per share in Q2 2025?

Pacific Financial reported earnings of $0.27 per diluted share in Q2 2025, compared to $0.24 in Q1 2025 and $0.21 in Q2 2024.

What dividend did PFLC declare for Q2 2025?

Pacific Financial declared a quarterly cash dividend of $0.14 per share, payable on August 22, 2025 to shareholders of record on August 8, 2025.

How much was Pacific Financial's loan growth in Q2 2025?

The company's gross loan balances increased 6% to $746.5 million in Q2 2025, up $39.4 million from $707.0 million in Q1 2025.

What is PFLC's asset quality status as of Q2 2025?

Asset quality remains excellent with non-performing assets at just 0.04% of total assets ($468,000), down from 0.10% ($1.2 million) in the previous quarter.

What was Pacific Financial's net interest margin in Q2 2025?

The net interest margin improved to 4.23% in Q2 2025, up from 4.12% in Q1 2025 and 4.15% in Q2 2024.
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PFLC Rankings

#6476 Ranked by Market Cap
N/A Ranked by Dividends

PFLC Latest News

Apr 25, 2025
Pacific Financial Corp Earns $2.4 Million, or $0.24 per Diluted Share for First Quarter 2025;听Board of Directors Approves 5% Stock Buyback Plan;听Declares Quarterly Cash Dividend of $0.14 per Share
Jan 31, 2025
Pacific Financial Corp Earns $2.2 Million, or $0.21 per Diluted Share for Fourth Quarter 2024; Reports Fiscal 2024 Earnings of $9.5 Million, or $0.92 per Diluted Share; Declares Quarterly Cash Dividend of $0.14 per Share
Oct 25, 2024
Pacific Financial Corp Earns $2.6 Million, or $0.25 per Diluted Share for Third Quarter 2024; Tangible Book Value Per Share Up 6.6% During Quarter; Board of Directors Declares Quarterly Cash Dividend of $0.14 per Share
Oct 24, 2024
Synergy by Association Announces Election of Terri McKinnis to Board of Directors
Aug 19, 2024
Bank of the Pacific Launches New Location in Lake Oswego, Oregon

PFLC Stock Data

111.21M
8.80M
0.37%
Banks - Regional
Financial Services
United States
Aberdeen

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