Edward Eng Joins Pacific Financial Corporation as EVP Chief Administrative Officer & Enterprise Risk Officer

ABERDEEN, Wash., Dec. 11, 2017 -- Pacific Financial Corporation (OTCQB:PFLC), the holding company for Bank of the Pacific, today announced that Edward Eng has joined its executive management team as Executive Vice President and Chief Administration Officer. 

“Ed Eng brings more than 30 years of in-depth experience in finance and operations, and we are delighted to have him join our executive team.  Ed will be replacing Tom Cooke, who will be retiring from his position as EVP and COO in mid-February,” said Denise J. Portmann, President and CEO.  “Ed will oversee operations and will play an integral role in supporting the strategic direction of the franchise.” 

Formerly with Heritage Financial Corporation/Whidbey Island Bank, Eng served as Executive Vice President and Chief Administrative Officer for five years and was responsible for all back office operations of the Bank.  He was also responsible for FDIC loss share reporting and financial accounting.  Edward Eng has previously held progressively responsible positions with JP Morgan Chase, Bank of America and Ernst & Young throughout the Pacific Northwest.

“I am excited to be joining Pacific Financial and working with bankers who deliver top-quality service to our customers,” said Edward Eng.  “Pacific Financial is committed to supporting the communities we serve in western Oregon and Washington, and I share that tradition and philosophy.”

Eng graduated with honors from the University of Washington, with a Master’s in Business Administration.  He also earned his Bachelor of Arts Degree in Business Administration focusing on accounting and finance from the same university.  He is a Certified Public Accountant.

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 western Washington and Oregon.  At September 30, 2017, the Company had total assets of $921 million and operated fifteen 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 operated loan production offices in the communities of DuPont and Burlington in Washington and Salem, Oregon.  Visit the Company’s website at www.bankofthepacific.com.  Member FDIC.

Note: Transmitted on Globe Newswire on December 11, 2017 at 11:00 a.m. PST.

Contacts:
Denise Portmann, President & CEO
Douglas Biddle, EVP & CFO
360.537.4061

The Cereghino Group
IR CONTACT: 206-388-5785