お知らせ • May 01
Banner Corporation (NasdaqGS:BANR) entered into a definitive merger agreement to acquire Pacific Financial Corporation (OTCPK:PFLC) for approximately $180 million. Banner Corporation (NasdaqGS:BANR) entered into a definitive merger agreement to acquire Pacific Financial Corporation (OTCPK:PFLC) for approximately $180 million on April 30, 2026. Under the terms of the merger agreement, Pacific Financial shareholders will receive 0.2633 shares of Banner common stock for each share of Pacific Financial common stock. Based on Banner’s closing price of $66.25 per share on April 29, 2026, the implied value of the merger consideration is $17.44 per Pacific share, or approximately $177 million in aggregate. The merger is expected to qualify as a tax-free reorganization for Pacific Financial shareholders. Following closing, based on the number of issued and outstanding shares of Banner common stock and shares of Pacific Financial common stock currently outstanding, Pacific Financial shareholders are expected to own approximately 7%, and Banner shareholders will own approximately 93%, of the combined company. Following closing, the combined company is expected to have approximately $18 billion in assets.
The boards of directors of Banner and Pacific Financial each unanimously approved the merger agreement and the merger. The transaction is subject to approval by Pacific Financial shareholders, regulatory approvals and other customary closing conditions and is expected to close in the third quarter of 2026. Banner expects the transaction, once closed, to be immediately accretive to 2027 earnings per share, excluding one-time transaction expenses.
Piper Sandler & Co. acted as financial advisor and Miller Nash Graham & Dunn LLP acted as legal advisor for Pacific Financial Corporation. BofA Securities, Inc. acted as financial advisor and Ballard Spahr LLP acted as legal advisor for Banner Corporation. お知らせ • Apr 27
Pacific Financial Corporation Declares Quarterly Cash Dividend, Payable on May 22, 2026 The Board of Directors of Pacific Financial Corporation declared a quarterly cash dividend of $0.15 per share on April 22, 2026. The dividend will be payable on May 22, 2026 to shareholders of record on May 8, 2026. This is the same dividend paid per share the prior quarter and an increase from $0.14 per share in the first quarter one year ago. お知らせ • Apr 26
Pacific Financial Corporation Reports Net Charge-Offs for the Quarter Ended March 31, 2026 Pacific Financial Corporation reported Net Charge-Offs for the quarter ended March 31, 2026. For the quarter, company reported Net charge-off of $1000 as compared to $75,000 a year ago. お知らせ • Jan 30
Pacific Financial Corporation Declares Quarterly Cash Dividend, Payable on February 28, 2026 The Board of Directors of Pacific Financial declared a quarterly cash dividend of $0.15 per share on January 28, 2026. The dividend will be payable on February 28, 2026 to shareholders of record on February 13, 2026. This is an increase from $0.14 per share in the prior quarter. お知らせ • Jul 25
Pacific Financial Corporation Declares Quarterly Cash Dividend, Payable on August 22, 2025 The Board of Directors of Pacific Financial Corporation 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. お知らせ • Apr 28
Pacific Financial Corporation Declares Quarterly Cash Dividend, Payable on May 23, 2025 The board of directors of Pacific Financial Corporation declared a quarterly cash dividend of $0.14 per share on April 23, 2025. The dividend will be payable on May 23, 2025 to shareholders of record on May 9, 2025. お知らせ • Jan 31
Pacific Financial Corporation Declares Quarterly Cash Dividend, Payable on February 28, 2025 Pacific Financial Corporation announced the board of directors declared a quarterly cash dividend of $0.14 per share on January 22, 2025. The dividend will be payable on February 28, 2025 to shareholders of record on February 14, 2025. お知らせ • Oct 28
Pacific Financial Corporation (OTCPK:PFLC) announces an Equity Buyback for $2.6 million worth of its shares. Pacific Financial Corporation (OTCPK:PFLC) announces a share repurchase program. Under the program, the company will repurchase up to $2.6 million worth of its shares. お知らせ • Oct 25
Pacific Financial Corporation Declares Quarterly Cash Dividend, Payable on November 22, 2024 Pacific Financial Corporation declared a quarterly cash dividend of $0.14 per share on October 23, 2024. The dividend will be payable on November 22, 2024 to shareholders of record on November 8, 2024. Additionally, the Board of Directors has authorized an additional $2.6 million toward future repurchases, or approximately 2.0% of total shares outstanding. The current stock repurchase program expires in November 2024. お知らせ • Jul 17
Pacific Financial Corporation and Bank of the Pacific Appoint Peter Dworkin to Their Board of Directors Pacific Financial Corporation announced the recent appointment of Peter (Pete) Dworkin to the company's Board of Directors, and to the Board of Bank of the Pacific. Mr. Dworkin is a highly regarded attorney and brings more than 24 years of legal experience to the board, with a solid background in real estate contracts, administrative land use issues as well as commercial and civil litigation and criminal prosecution. Pete is deeply grounded in Whatcom County and the Bellingham community where he served for 14 years on the board of Whatcom County Domestic Violence and Sexual Assault Services with two separate terms as board president. Mr. Dworkin earned his bachelor of arts in Political Science from Western Washington University in 1996, and his juris doctorate in law from the University of Oregon in 2000 with honors (Order of the Coif). He currently resides in Bellingham where he practices law and represents clients in the various courts and counties in northwest Washington. お知らせ • May 15
Pacific Financial Corporation Announces Retirement of Randy Rust to Its Board of Directors Pacific Financial Corporation announced the retirement of Randy Rust from the Board of Directors after many years of distinguished service. Randy joined the Board in 2003 and has fulfilled his duty to shareholders admirably throughout his tenure. Randy chaired the board Information Technology Committee and the Building Committee, and also served several years as a member of the Audit Committee and Director Loan Committee. Before joining PFLC, Randy was the former co-owner of Westport Shipyard Inc. until 2000 when he sold his interest in the company and retired. Mr. Rust brought entrepreneurial and management experience as well as extensive real estate development and investment expertise to the board. Additionally, Randy held a Bachelor of Arts in History and Political Science from Western Washington University and was a graduate of the Oregon Bankers Association Directors College. お知らせ • Apr 27
Pacific Financial Declares Quarterly Cash Dividend, Payable on May 24, 2024 The board of directors of Pacific Financial declared a quarterly cash dividend of $0.14 per share on April 24, 2024. The dividend will be payable on May 24, 2024 to shareholders of record on May 10, 2024. お知らせ • Jan 26
Pacific Financial Declares Quarterly Cash Dividend, Payable on February 23, 2024 Pacific Financial declared a quarterly cash dividend of $0.14 per share on January 24, 2024. The dividend will be payable on February 23, 2024 to shareholders of record on February 9, 2024. お知らせ • Jan 05
Pacific Financial Corporation Appoints Benjamin Ertischek to Its Board of Directors Pacific Financial Corporation announced the recent appointment of Benjamin (Ben) Ertischek to the Pacific Financial Corporation Board of Directors, and to the Board of Bank of the Pacific. Ben brings more than 27 years of business experience to the boards, with a strong background in leadership, strategy, finance, accounting, IT systems, and business development. Over the course of his career, Ben has focused on building businesses by nurturing ideas and people working in collaborative teams. Serving in a diverse array of executive and management roles, Ben has a passion for and is committed to evolving ideas, developing people and building successful businesses. Ben is a graduate of Princeton University and NYU Stern School of Business. He currently resides in the greater Portland area where the Bank has operations in nearby Vancouver, WA and Salem, OR. Ben’s connection to the Pacific Northwest and familiarity with the greater Portland and Vancouver markets are an advantageous fit with the Bank’s existing operations and growth plans. お知らせ • Jul 28
Pacific Financial Corporation Declares Quarterly Cash Dividend, Payable on August 25, 2023 The board of directors of Pacific Financial Corporation declared a quarterly cash dividend of $0.13 per share on July 19, 2023. The dividend will be payable on August 25, 2023 to shareholders of record on August 11, 2023. お知らせ • Jan 28
Pacific Financial Corporation Declares Quarterly Cash Dividend, Payable on February 24, 2023 The board of directors of Pacific Financial declared a quarterly cash dividend of $0.13 per share on January 25, 2023. The dividend will be payable on February 24, 2023 to shareholders of record on February 10, 2023. お知らせ • Oct 28
Pacific Financial Declares Quarterly Cash Dividend, Payable on November 25, 2022 The board of directors of Pacific Financial declared a quarterly cash dividend of $0.13 per share on October 19, 2022. The dividend will be payable on November 25, 2022 to shareholders of record on November 11, 2022. お知らせ • Jul 29
Pacific Financial Corporation Declares Quarterly Cash Dividend, Payable on August 25, 2022 The board of directors of Pacific Financial declared a quarterly cash dividend of $0.13 per share on July 20, 2022. The dividend will be payable on August 25, 2022 to shareholders of record on August 11, 2022. お知らせ • May 02
Pacific Financial Corporation Declares Quarterly Cash Dividend, Payable on May 27, 2022 The board of directors of Pacific Financial declared a quarterly cash dividend of $0.13 per share on April 27, 2022. The dividend will be payable on May 27, 2022 to shareholders of record on May 13, 2022. お知らせ • Apr 21
Pacific Financial Corporation, Annual General Meeting, Apr 27, 2022 Pacific Financial Corporation, Annual General Meeting, Apr 27, 2022, at 16:00 Pacific Standard Time. お知らせ • May 01
Pacific Financial Corp Declares Quarterly Cash Dividend of $0.13 Per Share, Payable on June 2, 2021 The board of directors of Pacific Financial declared a quarterly cash dividend of $0.13 per share on April 28, 2021. The dividend will be payable on June 2, 2021, to shareholders of record on May 18, 2021. お知らせ • Nov 13
Pacific Financial Corporation Plans to Relocate Its Branch in Astoria, Oregon to Warrenton, Oregon Effective March 2021 Pacific Financial Corporation announced plans to relocate its branch in Astoria, Oregon to Warrenton, Oregon effective March 2021. All customer accounts will be transferred to Warrenton and customers will be receiving a letter in the coming weeks outlining details of the transition. While are closing the physical location in Astoria, business development efforts will continue in Astoria and throughout Clatsop County. Customers have access to all of branch locations as well as technology based banking services such as mobile banking, remote deposit capture, Zelle, ATMs, debit cards and online banking. The company believe optimizing branch network and maximizing the use of facilities are important aspects in prudently managing capital resources.