Denise Portmann and Lori Reece Join Pacific Financial Corporation Board of Directors
February 25 2014 - 4:00PM
Pacific Financial Corporation (OTCQB:PFLC), the
holding company for Bank of the Pacific, today announced that
Denise Portmann and Lori Reece have been appointed to its Board of
Directors and the Board of Directors of the Bank of the Pacific,
effective February 19, 2014. Both Reece and Portmann will stand for
election by shareholders at the upcoming Annual Shareholders'
Meeting on April 24, 2014.
"We are extremely fortunate to have both Denise and Lori join
our Board," said Gary C. Forman, Chairman of the Board. "Their
individual expertise and demonstrated leadership will bring unique
perspectives on issues that will be of great value to our
institution as we continue to position ourselves for future growth
and success."
Denise Portmann was named President and Chief Executive Officer
of Bank of the Pacific on January 1, 2014. During her 13 year
tenure with the Bank, she has served 10 years as Executive Vice
President and Chief Financial Officer of Bank of the Pacific, and
13 years as Treasurer for the Company. Portmann has been
actively involved with all aspects of operations, including
expansion initiatives, such as branch acquisitions and openings and
a bank merger, a capital raise and important regulatory compliance
issues, including implementing and overseeing compliance with
Section 404 of the Sarbanes Oxley Act.
Lori Reece is the owner of RE/MAX Whatcom County, Inc. and is
recognized as one of the leaders in residential and commercial real
estate in Whatcom County. Ms. Reece has received numerous
regional and national accolades for her achievements by RE/MAX
International. Reece is past president of Whatcom County
Association of Realtors and Bellingham/Whatcom MLS, and a frequent
speaker at RE/MAX International Conventions and other real estate
industry events. In 2009, she received the Lifetime
Achievement Award from the Whatcom County Association of
Realtors. Licensed in 1980, Ms. Reece now operates 3 offices
in Bellingham, Sudden Valley and Lynden and is recognized as the
third largest RE/MAX broker in Washington state.
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 Washington and Oregon. As of December 31,
2013, the Company has total assets of $705.0 million and operates
16 branches in the communities of Grays Harbor, Pacific, Whatcom,
Skagit and Wahkiakum counties in the State of Washington, and three
branches in Clatsop County, Oregon. The Company also operates
loan production offices in the communities of Vancouver, Dupont and
Burlington in Washington. Visit the Company's website at
www.bankofthepacific.com. Member FDIC.
CONTACT: GARY C. FORMAN, CHAIRMAN OF THE BOARD
PACIFIC FINANCIAL CORPORATION
360.537.4061
The Cereghino Group
IR CONTACT: 206-388-5785
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