PFLC Pacific Financial Corp.

Benjamin Ertischek Appointed to Pacific Financial Corporation Board of Directors

Benjamin Ertischek Appointed to Pacific Financial Corporation Board of Directors

ABERDEEN, Wash., Jan. 04, 2024 (GLOBE NEWSWIRE) -- Pacific Financial Corporation (OTCQX: PFLC), (“Pacific Financial”) or the (“Company”), the holding company for Bank of the Pacific (the “Bank”), announced today 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.

Ben’s favorite quote is by Arthur Ashe – “To achieve greatness, start where you are, use what you have, and do what you can.”

“On behalf of the Board of Directors, we would like to take this opportunity to welcome Ben,” says Denise Portmann, President and CEO for Pacific Financial Corporation and Bank of the Pacific. “We’re thrilled to have Ben on the team with his diverse set of skills and expertise. I, and the rest of the Board, look forward to collaborating with Ben.”

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, 2023, the Company had total assets of $1.18 billion 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 Olympia and Burlington, Washington and Salem, Oregon. Visit the Company’s website at . Member FDIC.

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. Such statements are based on information available at the time of communication and are based on current beliefs and expectations of the Company’s management and are subject to risks and uncertainties, many of which are beyond our control, which could cause actual events or results to differ materially from those projected, anticipated or implied, and could negatively impact the Company’s operating and stock price performance. These risks and uncertainties include various risks associated with growing the Bank and expanding the services it provides, development of new business lines and markets, competition in the marketplace, general economic conditions, including the COVID-19 pandemic and government responses thereto, changes in interest rates, extensive and evolving regulation of the banking industry, and many other risks. Any forward-looking statements in this communication are based on information at the time the statement is made. 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

Carla Tucker, EVP & CFO

360.533.8873



EN
04/01/2024

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