Pacific Financial Corporation (PFLC) 2015年年度报告「OTC」.pdf

1、 March 23,2016 Denise Portmann President&CEO Dear Fellow Shareholders:We are very proud of the exceptional financial performance Pacific Financial has delivered to its shareholders in 2015.We grew earnings by 13%to$5.6 million for the year,or$0.54 per share,and achieved our sixth consecutive year of

2、 profitability.In addition,for the second consecutive year we raised our annual cash dividend by 5%to$0.22 per share for 2015,equating to a yield of approximately 3.3%at current market levels.Our company is emerging as an outstanding franchise,as we continue to make progress in executing on our grow

3、th strategies,strengthening our balance sheet,and prudently managing our operations.The loan portfolio increased 11%during the year,while total deposits increased 12%,substantially outpacing the median state and national averages,as displayed below.Source:SNL Financial,LC Core deposits remained stro

4、ng at 93%of total deposits.Our capital ratios continue to exceed regulatory requirements with total risk-based capital at 12.78%.Credit quality metrics continue to improve,now at levels we have not seen since 2007.Nonperforming loans were 0.62%of total assets at year end,less than half the level of

5、a year ago.Our net interest margin also remains above average at 4.10%for the full year.We expect to sustain our loan and deposit growth momentum into 2016,as we continue to focus on our customers financial needs to deliver real value and real solutions.With our strong capital and liquidity,we are w

6、ell positioned to build upon our performance in 2016.The accompanying Selected Financial Data demonstrates our improvement in financial performance in 2015.Some of those highlights are displayed as follows:?Earnings grew to$5.6 million,or$0.54 per share,an increase of 13%;051015Bank of thePacificSta