Pacific Financial Corporation (PFLC) 2014年年度报告「OTC」.pdf

1、2014OTCQB:PFLC 2014?March 26,2015 My Fellow Shareholders:My Fellow Shareholders:We delivered another solid performance in 2014,executing on our growth strategies,strengthening our balance sheet,and improving the bottom line.Profits increased 32%for the full year,with earnings growing to$4.9 million

2、in 2014,compared to$3.7 million in 2013.The increase in our profitability year-over-year was driven by increases in net interest income,an improved net interest margin,continued strong loan production and better operating efficiencies.As a result of our successes,we were able to raise our annual cas

3、h dividend to 21-cents per share at the end of 2014,equating to a yield of more than 3.10%at current market levels.2014 Accomplishments 2014 Accomplishments?Growing the loan portfolio with quality assets is important for our continued success,and we were able to organically grow loans by 12%to$563.1

4、 million for the year.Noninterest-bearing deposits also increased 14%and remained strong at 26%of total deposits.Both achievements were key contributors to our strong financial performance.?Our net interest income increased 14%to$27.0 million in 2014,from$23.8 million in 2013,and our net interest ma

5、rgin improved 17 basis points to 4.17%,from 4.00%a year ago.?At the same time,credit quality continued to improve,with the ratio of nonperforming assets to total assets at 1.36%at year end,compared to 1.42%last year.?We strategically deployed some of our excess capital this year while maintaining so

6、lid capital ratios,which continued to exceed regulatory requirements.?465,208478,307451,788504,072554,74544,954548,050548,243607,347635,0540200,000400,000600,000800,00020102011201220132014Total?Net?LoansTotal?DepositsTotal?Net?Loans?and?Deposits(Dollars?in?Millions)Dennis?A.?Long?President?&?Chief?E