Peter Dworkin Appointed to Pacific Financial Corporation Board of Directors

Rhea-AI Summary

Pacific Financial (OTCQX: PFLC), the holding company for Bank of the Pacific, has appointed Peter Dworkin to its Board of Directors. Dworkin, a respected attorney with over 24 years of legal experience, brings expertise in real estate contracts, land use issues, and litigation. He has strong ties to Whatcom County and previously served on the board of Whatcom County Domestic Violence and Sexual Assault Services.

Dworkin holds a bachelor's degree in Political Science from Western Washington University and a juris doctorate from the University of Oregon. Denise Portmann, President and CEO of Pacific Financial , expressed enthusiasm about Dworkin joining the team, citing his diverse skills and legal expertise as valuable additions to the board.

Positive

• Appointment of Peter Dworkin to the Board of Directors, bringing 24 years of legal experience
• Dworkin's expertise in real estate contracts and land use issues aligns with the bank's operations
• Strong local connections in Whatcom County, potentially beneficial for business development

Negative

• None.

ABERDEEN, Wash., July 16, 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 Peter (Pete) Dworkin to the Pacific Financial Corporation Board of Directors, and to the Board of Bank of the Pacific. Mr. Dworkin is a highly regarded attorney and brings more than 24 years of legal experience to the board, with a solid background in real estate contracts, administrative land use issues as well as commercial and civil litigation and criminal prosecution. Pete is deeply grounded in Whatcom County and the Bellingham community where he served for 14 years on the board of Whatcom County Domestic Violence and Sexual Assault Services with two separate terms as board president.

Mr. Dworkin earned his bachelor of arts in Political Science from Western Washington University in 1996, and his juris doctorate in law from the University of Oregon in 2000 with honors (Order of the Coif). He currently resides in Bellingham where he practices law and represents clients in the various courts and counties in northwest Washington.

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

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 March 31, 2024, the Company had total assets of $1.13 billion and operated fifteen branches in the communities of Grays Harbor, Pacific, Thurston, 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, Salem, Oregon and Lake Oswego, Oregon. Visit the Company’s website at www.bankofthepacific.com. Member FDIC.

Contacts:
Denise Portmann, President & CEO
Carla Tucker, EVP & CFO
360.533.8873

FAQ

Who is Peter Dworkin and why was he appointed to Pacific Financial 's board?

Peter Dworkin is an attorney with 24 years of legal experience, appointed to PFLC's board for his expertise in real estate contracts, land use issues, and litigation, as well as his strong ties to the Whatcom County community.

What is Pacific Financial 's stock symbol?

Pacific Financial 's stock symbol is PFLC, traded on the OTCQX market.

What were Pacific Financial 's total assets as of March 31, 2024?

As of March 31, 2024, Pacific Financial (PFLC) reported total assets of $1.13 billion.

How many branches does Bank of the Pacific operate?

Bank of the Pacific, a subsidiary of PFLC, operates 15 branches in Washington state and 2 branches in Oregon, along with loan production offices in Burlington, Salem, and Lake Oswego.