Bank of the Pacific Establishes New Oregon Commercial Lending Team; Ebert, White, Lambert and Toepfer Launch LPO in Salem, Oregon

ABERDEEN, Wash., Jan. 29, 2015 (GLOBE NEWSWIRE) -- Bank of the Pacific, a subsidiary of Pacific Financial Corporation (OTCQB:PFLC), today announced that a new commercial lending team has joined the Bank expanding its presence in Salem, Oregon. Dan Ebert, Senior Vice President and Manager, will lead the commercial lending team joined by Kelly White, Anmarie Lambert and Lynne Toepfer, all seasoned bankers who have previously worked together for approximately 15 years.

"We are excited about increasing our Oregon presence by expanding into Salem. This high-growth market is a perfect fit for our strategic direction," said Denise Portmann, President and Chief Executive Officer, Bank of the Pacific. "Our team will be focusing on commercial lending, and we also expect to generate solid core deposits in Salem as we develop great relationships with business owners in that market." Salem is the capital of Oregon, and the county seat of Marion County.

"We are delighted to welcome Dan Ebert and his veteran team of bankers to Bank of the Pacific," continued Portmann. "With a combined 91 years in commercial, commercial real estate and agricultural lending, the team brings a wealth of financial experience to our franchise. Each will be an outstanding addition to our growing team of commercial lending professionals, and we look forward to leveraging their vast skill-set to better service the needs of our customers." The Salem Commercial Banking office is located at 1255 Lee St., SE, Suite 130, Salem OR 97302. Dan and the rest of the team can be reached at 503.364.1633 or Dan may be reached at debert@bankofthepacific.com.

Formerly with Columbia Bank, Dan Ebert has managed top-performing teams, specializing in commercial real estate, C&I and agricultural lending for 27 years in Salem. He will be responsible for leading his team and developing new business in the Salem area. Dan graduated from George Fox University with a B.A. in Business and Human Resources Management and Pacific Coast Banking School.

Kelly White specializes in commercial real estate lending. He has spent 20 years in banking, the last 15 of which were in Oregon. Kelly has a strong diversified background in banking, most recently as a commercial real estate lender serving the Willamette Valley. He graduated from the University of Santa Clara with a Masters in Business Administration. He has been an active member of the Salem Rotary Club for the past 17 years. Kelly may be reached at kwhite@bankofthepacific.com.

Anmarie Lambert most recently was an assistant relationship and support manager with Ebert's commercial lending team. With approximately 25 years of experience in customer service and support, she is a valued member of the team.

As an assistant relationship manager, Lynne Toepfer has 20 years of banking experience in branch management and commercial loan processing supervision.

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 consumers, small-to-medium sized businesses and professionals in Washington and Oregon. As of September 30, 2014, the Company had total assets of $749 million and operated 20 branches in the communities of Grays Harbor, Pacific, Whatcom, Skagit, Clark and Wahkiakum counties in the State of Washington, and three branches in Clatsop County, Oregon. The Company also operates Commercial Banking Centers in the communities of Dupont and Burlington, WA and Salem, OR. Visit the Company's website at www.bankofthepacific.com. Member FDIC

CONTACT: DENISE PORTMANN, PRESIDENT & CEO DOUGLAS BIDDLE, EVP & CFO BANK OF THE PACIFIC 360.537.4061 The Cereghino Group IR CONTACT: 206-388-5785Source:Pacific Financial Corporation