Bank of the Pacific Opens Commercial Banking Center in Eugene, OR; Launches New Commercial Lending Team

ABERDEEN, Wash., Oct. 11, 2019 (GLOBE NEWSWIRE) -- Pacific Financial Corporation (OTCQX: PFLC), the holding company for Bank of the Pacific, today announced the expansion of its franchise with the opening of its new commercial banking center in Eugene, Oregon. This new office expands Bank of the Pacific’s presence in the high growth market of Eugene, complementing its Salem, OR and Vancouver, WA locations. Heading up the new commercial lending team is Mark Rodewald, Senior Vice-President and Regional Commercial Banking Manager and Jenny Freeman, Vice President and Commercial Banking Officer. 

“We are excited about continuing our strategic growth initiative by expanding along the I-5 corridor into Eugene, as part of our commitment to providing outstanding service and convenience to the communities in Oregon,” said Denise Portmann, President and Chief Executive Officer. 

“We are also delighted to welcome both Mark Rodewald and Jenny Freeman to Bank of the Pacific,” added Portmann. “With more than 40 years of combined experience in commercial lending providing capital and financial solutions to small and mid-sized companies, the team brings a wealth of financial experience to our franchise. Each will be an outstanding addition to our growing team of commercial lending professionals, and we look forward to leveraging their extensive skill-set to better serve the needs of our customers and community.” The Commercial Lending Office is located at 975 Oak Street, Eugene, Oregon, 97401. Mark and the rest of the team can be reached at 541-954-2220 or by email at [email protected] or [email protected].

In addition to the fourteen full-service branches in the communities of Grays Harbor, Pacific, Whatcom, Skagit, Clark 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 Burlington, Washington and Salem, Oregon.

About Eugene, Oregon

Eugene is home to the University of Oregon, Northwest Christian University, and Lane Community College. Eugene's official slogan is "A Great City for the Arts and Outdoors." It is also referred to as the "Emerald City" and as "Track Town, USA." The Nike corporation had its beginnings in Eugene.

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 6/30/19, the Company had total assets of $925 million and operated fourteen branches in the communities of Grays Harbor, Pacific, Whatcom, Skagit, Clark and Wahkiakum counties in the State of Washington, and two branches in Clatsop County, Oregon. The Company also operated loan production offices in the communities of Burlington, Washington and Salem, Oregon. Visit the Company’s website at www.bankofthepacific.com. Member FDIC.

Pacific Financial Corporation recently upgraded to the OTCQX under the symbol “PFLC.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com. 

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. These forward-looking statements are subject to risks and uncertainties that could cause actual events or results to differ materially from those projected, anticipated or implied. These risks and uncertainties include various risks associated with growing the Bank and expanding the services it provides, successfully completing and integrating the acquisition of new branches and 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. 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
Pacific Financial Corporation
360.533.8873