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First Pacific Bank, a subsidiary of First Pacific Bancorp (OTC Pink: FPBC), has been awarded the 2024 Great Company Culture Award by CultureID. This recognition is based on employee feedback from the 2024 Employee Engagement Survey, placing First Pacific Bank in the top third of participating organizations.
The award highlights the bank's commitment to fostering a positive, inclusive, and dynamic workplace. Employees reported strong relationships, high accountability, clear alignment, consistent communication, and full capability to perform at their best. Nathan Rogge, President and CEO, emphasized that this recognition reflects the team's dedication to building a supportive and inspiring workplace aligned with the bank's core values.
First Pacific Bank, a subsidiary of First Pacific Bancorp (OTC Pink: FPBC), has announced the promotion of Tony DiVita to Executive Vice President, Chief Operating Officer, effective immediately. Previously serving as Executive Vice President, Chief Banking Officer, DiVita will now focus on driving operational efficiency and aligning strategic goals to enhance customer value.
DiVita, who joined First Pacific Bank in May 2023, brings over 30 years of community and regional banking experience to his new role. Nathan Rogge, President and CEO of First Pacific Bank, expressed confidence in DiVita's ability to drive growth, innovation, and operational transformation. The promotion is expected to strengthen the bank's leadership and contribute to its continued success.
First Pacific Bancorp (OTC Pink: FPBC) reported its second quarter 2024 results, marking the fifth consecutive quarter of profitability. Key highlights include:
- Total assets reached $430 million, up $10 million from year-end 2023
- Total deposits increased to $354 million, up $21 million since year-end 2023
- Total loans stood at $270 million, down $5 million from year-end 2023
- Strong capital position with a leverage capital ratio of 8.6% and total risk-based capital ratio of 12.8%
- Cash and cash equivalents totaled $43 million, up $21 million since year-end 2023
- Q2 2024 pre-tax, pre-provision profit of $272 thousand, up from $222 thousand in Q1 2024
- Q2 2024 net income of $198 thousand, up from $162 thousand in Q1 2024
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