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Earnings Score 32 Bullish

Pacific Financial Corporation Reports Q1 Growth in Net Income and Loan Balances

Apr 24, 2026 13:09 UTC
PFLC
Short term

Pacific Financial Corporation (PFLC) posted a rise in first-quarter profits, driven by growth in net interest income and loan balances. The company also declared a quarterly cash dividend of $0.15 per share.

  • Net income increased to $3.050 million from $2.377 million
  • EPS grew from $0.24 to $0.30
  • Net interest income rose to $12 million
  • Gross loan balances increased 9% to $771.1 million
  • Total deposits grew to $1.14 billion
  • Quarterly dividend set at $0.15 per share

Pacific Financial Corporation (PFLC) has reported a strengthened financial position for the first quarter of 2026, with net income rising to $3.050 million. This represents a notable increase over the $2.377 million reported during the same period last year. The growth was supported by a broad increase in core banking metrics, including both interest and non-interest income streams. This performance reflects a steady expansion of the firm's balance sheet and lending activities in a stable environment. Earnings per share (EPS) rose to $0.30, up from $0.24 in the prior year. Net interest income climbed to $12 million, compared to $11.3 million a year ago, while non-interest income saw a slight uptick to $1.3 million from $1.2 million. On the balance sheet, the company's deposit base grew to $1.14 billion, up from $1.07 billion. Additionally, gross loan balances expanded by 9%, reaching $771.1 million, indicating increased credit deployment. To reward shareholders, the Board of Directors approved a quarterly cash dividend of $0.15 per share. The dividend is scheduled for payment on May 22, 2026, for shareholders of record as of May 8.

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