Pacific Financial Corporation Raises Annual Cash Dividend 9% to $0.25 Per Share

ABERDEEN, Wash., Dec. 27, 2017 -- Pacific Financial Corporation (OTCQB:PFLC), the holding company for Bank of the Pacific, today announced that its Board of Directors increased the annual cash dividend by $0.02 to $0.25 per share to holders of common stock. The dividend will be payable on January 8, 2018, to shareholders of record as of December 29, 2017.

“Our growing franchise is generating solid profitability, and we are pleased that our financial results have again allowed us to increase our annual cash dividend,” said Denise Portmann, President and Chief Executive Officer.  “We continue to be committed to providing attractive returns to our shareholders and we appreciate their loyalty.”

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 September 30, 2017, the Company had total assets of $921 million and operated fifteen branches in the communities of Grays Harbor, Pacific, Whatcom, Skagit, Clark and Wahkiakum counties in the State of Washington, and three branches in Clatsop County, Oregon.  The Company also operated loan production offices in the communities of DuPont and Burlington in Washington and Salem, Oregon.  Visit the Company’s website at www.bankofthepacific.com.  Member FDIC.

CONTACTS:
DENISE PORTMANN, PRESIDENT & CEO
DOUGLAS BIDDLE, EVP & CFO
PACIFIC FINANCIAL CORPORATION
360.537.4061

The Cereghino Group
IR CONTACT: 206-388-5785