ABERDEEN — Pacific Financial Corp., holding company for Bank of the Pacific, on Dec. 21 announced that its Board of Directors declared a cash dividend of $0.23 per share to holders of common stock. The dividend is payable on Jan. 9, 2017, to shareholders of record as of Dec. 30, 2016.

“We are pleased to increase our annual cash dividend as a demonstration of the financial success we have accomplished in 2016. This dividend acknowledges the positive impact our employees have had in the continued enhancement of our growing franchise,” said Denise Portmann, president and chief executive officer. “The increase in our cash dividend from the previous year also demonstrates our appreciation for the loyalty of our shareholders.”

Bank of the Pacific offers banking products and services to small-to-medium sized businesses and professionals in Washington and Oregon. At Sept. 30, 2016, the Company had total assets of $897 million and operated 15 branches in the communities of Grays Harbor, Pacific, Whatcom, Skagit, Clark and Wahkiakum counties in Washington, and three branches in Clatsop County. Visit bankofthepacific.com.

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