ABERDEEN, Wash. , Dec. 23, 2013 (GLOBE NEWSWIRE) -- Pacific Financial Corporation (OTCQB:PFLC), 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 . "This annual cash dividend reflects our commitment to return value to our shareholders, while retaining capital to support growth. It is a testament to the strength of our core banking franchise and the performance of our team members," said Dennis Long , President and Chief Executive Officer. This dividend provides a yield of 3% at current market pricing of our shares. 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 Washington and Oregon. As of September 30, 2013 , the Company has total assets of $715.7 million and operated 16 branches in the communities of Grays Harbor , Pacific , Whatcom , Skagit and Wahkiakum counties in the State of Washington , and two branches in Clatsop County, Oregon. The Company also operates loan production offices in the communities of Vancouver , Dupont and Burlington in Washington. Visit the Company's website at www.bankofthepacific.com . Member FDIC. CONTACT: DENNIS LONG , PRESIDENT & CEO DENISE PORTMANN , EVP & CFO 360.537.4061 The Cereghino Group IR CONTACT: 206-388-5785 Source: Pacific Financial Corporation
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