Pacific Financial Corporation
Pacific Financial Corporation is the bank holding company for Bank of the Pacific, a community bank operating 18 branches in Western Washington and Oregon. It serves consumer, small business, and commercial clients with $1.3B in assets, and is being acquired by Banner Corporation in a $177M all-stock deal expected to close in Q3 2026.
- Company typePublic
- Founded1970
- HeadquartersAberdeen, United States
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What Pacific Financial Corporation does
Pacific Financial Corporation is the bank holding company for Bank of the Pacific, a community bank headquartered in Aberdeen, Washington. Founded over 50 years ago and operating 18 branches across Western Washington and Western Oregon, the bank serves consumer, small business, and commercial clients through deposit products (checking, savings, money market, CDs, IRAs, HSAs), lending products (consumer auto, RV, marine, home equity, HELOC, small business, commercial real estate), and treasury/merchant services for commercial clients. The company is publicly traded on OTCQX under ticker PFLC and reports $1.3 billion in total assets as of Q1 2026 with a 4.04% net interest margin.
The bank operates a multi-channel distribution model combining 18 physical branches (including ATMs and Interactive Teller Machines), online and mobile banking platforms on iOS and Android, SMS text banking, phone-based customer care, and Visa Checkout payment integration. Technology infrastructure consists of standard commercial banking platforms, including Q2-based mobile and online banking. The bank generates revenue primarily through net interest income (lending activity minus interest paid on deposits) complemented by non-interest income from banking fees, loan origination, and commercial treasury services. Pricing reflects a relationship-based community banking model with tiered deposit rates and term/usage-based loan pricing.
In April 2026, Pacific Financial entered a definitive agreement to be acquired by Banner Corporation in an all-stock transaction valued at approximately $177 million, with Pacific Financial shareholders expected to own roughly 7% of the combined entity, which is projected to have approximately $18 billion in assets. The merger is expected to close in Q3 2026 subject to regulatory and shareholder approvals, with a shareholder vote scheduled for August 12, 2026. Randy W. Rognlin serves as Chairman.
Pacific Financial Corporation firmographics
Firmographics- Name
- Pacific Financial Corporation
- Legal name
- Pacific Financial Corporation
- Website
- https://bankofthepacific.com
- Company type
- Public
- Founded year
- 1970
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Pacific Financial Corporation is the bank holding company for Bank of the Pacific, a community bank operating 18 branches in Western Washington and Oregon. It serves consumer, small business, and commercial clients with $1.3B in assets, and is being acquired by Banner Corporation in a $177M all-stock deal expected to close in Q3 2026.
- Ownership category
- akta.pro rank
Pacific Financial Corporation industry classification
Industry- Product category
- Community Banking
- NAICS
- Offices of Bank Holding Companies (551111), Commercial Banking (522110), Commercial Banking (52211)
- SIC
- State Commercial Banks (6022), Commercial Banks, Nec (6029)
- akta.pro primary industry
- General SME & Middle-Market Commercial Banking (FSABABAA)
Keywords
Where Pacific Financial Corporation is headquartered
LocationHeadquarters
- HQ city
- Aberdeen
- HQ country
- United States
- HQ region
- North America
Offices22 records
Markets served
Pacific Financial Corporation business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Net Interest Income: Interest income generated from lending activities minus interest paid on deposits. For Q1 2026, net interest margin was 4.04%, with revenue of $13.29 million for the quarter. Net interest income is the primary revenue driver for this community bank.
- Banking Fees and Service Charges: Non-interest income from account maintenance fees, overdraft fees, wire transfer fees, and other banking service charges
- Loan Origination Income: Interest income from consumer loans (auto, home equity, HELOC, recreational vehicles), commercial loans, and real estate mortgages. New auto loans include 0.25% discount for auto-pay from Bank of the Pacific account.
- Commercial Banking Services: Treasury management services, merchant services, commercial real estate lending, and business credit products for commercial clients
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Pacific Checking Rate Rewards - 0.15% APY for balances $20,000 and under when qualifications met |
| Subscription | Monthly | Pacific Premier Checking - Tiered rates from 0.05% to 0.20% APY |
| Subscription | Annual | Consumer CDs - 0.25% to 3.56% APY depending on term and balance |
| Unit Pricing | Monthly | New Auto Loans - 6.214% to 8.183% APR |
| Unit Pricing | Monthly | Used Auto Loans - 6.766% to 11.527% APR |
| Usage-based | Monthly | HELOC - 6.75% to 7.25% APR variable |
| Unit Pricing | Monthly | Home Equity Loan - 7.414% to 9.851% APR |
| Subscription | Monthly | Business Money Market - 0.10% to 2.69% APY |
Go-to-market motion1 record
Distribution channels6 records
Marketing channels8 records
Pacific Financial Corporation product offering
Product offeringCore offering
Pacific Financial Corporation is the bank holding company for Bank of the Pacific, operating as a community bank across 18 branches in Washington and Oregon. The company provides retail and commercial banking products including checking, savings, money market and CD accounts, credit cards, home equity loans, HELOCs, auto and recreational vehicle loans, small business lending, commercial real estate financing, treasury management, and merchant services, distributed through branch, online, mobile, and ATM channels.
Product overview
Pacific Financial Corporation operates as the bank holding company for Bank of the Pacific, offering a comprehensive suite of retail and commercial banking products through a branch network across Washington and Oregon. The product portfolio consists of core consumer banking products (checking, savings, money market, CDs, IRAs, HSAs), credit products (credit cards, home equity loans, HELOCs, auto/RV loans, small business loans), commercial banking services (commercial real estate, treasury management, merchant services), and digital banking channels (mobile banking, online banking, text banking). The Bank operates 18 branches and serves Western Washington and Western Oregon markets, with a pending merger with Banner Corporation valued at approximately $177 million expected to close in Q3 2026.
Differentiator
Problem solved
Functional benefit
Products and services
- Pacific Access Checking
- Pacific Checking
- Pacific Premier Checking
- Pacific Rewards Checking
- Essential Savings Account
- Youth Savings Account
- Money Market Accounts (MMAs)
- Certificates of Deposit (CDs)
- Individual Retirement Accounts (IRAs)
- Health Savings Accounts (HSAs)
- VISA Gold Credit Card
- Home Equity Loan
- Home Equity Line of Credit (HELOC)
- Auto & Recreational Vehicle Loans
- Small Business Loans
- Merchant Services
- Commercial Real Estate Lending
- Treasury Management
- Mobile Banking
- Personal Online Banking
- Business Online Banking
- Essential Business Checking Account
- Small Business Checking Account
- Business Checking Account
- Business Interest Checking Account
- Community Checking Account
- Business Savings Account
- Pacific Business Rewards Visa
- Commercial Loans & Lines of Credit
- Commercial Checking Account
Quantifiable outcome
- 28% year-over-year increase in Q1 2026 net income compared to Q1 2025
- +2 more outcomes
Companies that use Pacific Financial Corporation
Customer profileSegments3 records
Ideal customer profiles2 records
Pacific Financial Corporation technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature4 records
Pacific Financial Corporation partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Banner CorporationcorePacific Financial Corporation has agreed to be acquired by Banner Corporation, the holding company for Banner Bank, in an all-stock transaction valued at approximately $177 million. The merger is expected to close in Q3 2026, subject to regulatory approvals and Pacific Financial shareholder approval. Upon closing, Pacific Financial shareholders will own approximately 7% of the combined entity with approximately $18 billion in assets.
Scale indicators12 records
Recent moves5 records
Expansion highlights4 records
Pacific Financial Corporation competitors and assessment
Company assessmentBroad incumbents
- Wintrust Financial Corporation: Wintrust Financial (WTFC) is a large community bank holding company operating specialty and community banks across the Midwest; comparable bank-holding-company structure with diversified NII, fee, and commercial treasury revenue streams. Broader scale and geography but similar community/commercial banking mix.
- Umpqua Holdings Corporation / Columbia Banking System: Umpqua Holdings (now part of Columbia Banking System, OZK) is a much larger Pacific Northwest bank holding company; broader incumbent operating throughout OR, WA and CA with overlapping deposit, commercial real estate, and small business banking services. Comparable product breadth and regulatory classification, though materially larger scale.
Regional players
- Bank of Hawaii Corporation: Bank of Hawaii (BOH) is a community-focused bank holding company providing consumer and commercial banking; similar community-banking DNA, scale ($1-2B asset range comparable to Pacific Financial), and NIM-driven revenue model, but operates exclusively in Hawaii rather than the Pacific Northwest.
Direct peers
- Heritage Financial Corporation: Heritage Financial Corporation (HFWA) is a Washington state community bank holding company operating Heritage Bank with branches across WA and OR; directly comparable in regional footprint, community banking model, and asset size to Pacific Financial Corporation.
- Glacier Bancorp, Inc. Glacier Bancorp (GBCI) is a community bank holding company operating regional banks across the Western US; highly comparable community-banking multi-bank holding company model, deposit-funded lending, and NIM-driven revenue, though at a larger scale than Pacific Financial.
- Banner Corporation: Banner Corporation (BANR) is the parent of Banner Bank, a Pacific Northwest community bank holding company; it directly overlaps with Pacific Financial in Western WA and Western OR markets and is the agreed acquirer of Pacific Financial in the announced ~$177M all-stock transaction. Same community-banking business model, deposit franchise, and commercial/retail product mix.
- HomeStreet, Inc. HomeStreet (HMST) is a Seattle-based bank holding company with retail, mortgage, and commercial banking operations concentrated in the Pacific Northwest; overlaps with Pacific Financial's WA/OR deposit franchise and consumer/commercial lending mix.
- Sound Financial Bancorp: Sound Financial Bancorp (SFBC) is the holding company for Sound Community Bank, a Seattle-based community bank with comparable deposit-gathering and small-business lending focus, and operates within the same Western Washington geographic footprint as Bank of the Pacific.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Pacific Financial Corporation social profiles
Digital presencePacific Financial Corporation compliance and trust
Trust signalCompliance3 records
Pacific Financial Corporation financial estimates
Financial estimateRevenue estimate
Valuation estimate
Pacific Financial Corporation leadership team
Management profileNumber of profiles
Profiles1 record
Pacific Financial Corporation subsidiaries and ownership
Company hierarchySubsidiaries1 record
Pacific Financial Corporation funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Pacific Financial Corporation M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Pacific Financial Corporation
What does Pacific Financial Corporation do?
Pacific Financial Corporation is the bank holding company for Bank of the Pacific, operating as a community bank across 18 branches in Washington and Oregon. The company provides retail and commercial banking products including checking, savings, money market and CD accounts, credit cards, home equity loans, HELOCs, auto and recreational vehicle loans, small business lending, commercial real estate financing, treasury management, and merchant services, distributed through branch, online, mobile, and ATM channels.
Is Pacific Financial Corporation a public or private company?
Pacific Financial Corporation is a public company. It is classified as public and is currently operating.
When was Pacific Financial Corporation founded?
Pacific Financial Corporation was founded in 1970. It employs 101 to 250 people.
Where is Pacific Financial Corporation based?
Pacific Financial Corporation is headquartered in Aberdeen, United States, in the North America region.
How does Pacific Financial Corporation make money?
Four revenue lines are on record. Net Interest Income is the primary driver. The others are banking Fees and Service Charges, loan Origination Income and commercial Banking Services.
Who are Pacific Financial Corporation's main competitors?
Broad incumbents on record are Wintrust Financial Corporation and Umpqua Holdings Corporation / Columbia Banking System. Bank of Hawaii Corporation is listed as a regional player. Direct peers are Heritage Financial Corporation, Glacier Bancorp, Inc., Banner Corporation, HomeStreet, Inc. and Sound Financial Bancorp.
Does Pacific Financial Corporation have an API?
No public API is recorded for Pacific Financial Corporation.
What industry is Pacific Financial Corporation in?
Pacific Financial Corporation's product category is Community Banking. Its primary akta.pro industry code is FSABABAA, General SME & Middle-Market Commercial Banking. Its NAICS code is 551111 and its SIC code is 6022.