Bank of the Pacific in Aberdeen, Washington (WA), OR
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Bank of the Pacific in Aberdeen, Washington (WA), OR
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Bank of the Pacific - Overview

  • General
  • FDIC Certificate #: 23041
    Status: Active
    Federal Reserve ID: 307679
    Bank Holding Company (Regulatory Top Holder): Pacific Financial Corporation (RSSDID: 2560236, Location: Aberdeen, WA)
    Date Established: December 26, 1979
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 17 (Domestic: 17, Interstate: Yes)
    OTS Docket #: 10584
    FDIC's unique #: 16132
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: December 26, 1979
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 300 East Market Street, Aberdeen, WA 98520
    County: Grays Harbor
    Quarterly Banking Profile Region: San Francisco
    FDIC Geographic Region: San Francisco
    FDIC Supervisory Region: San Francisco
    FDIC Field Office: Seattle
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: West
    Core Based Statistical Area (CBSA): Aberdeen, WA (#10140)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $640.3 mil
    Equity capital: $77.3 mil
    Deposits held in domestic offices: $548.4 mil
    Return on assets (ROA): 0.53% ($3.4 mil)
    Quarterly return on assets: 0.42% ($2.7 mil)
    Return on Equity (ROE): 4.53% ($3.5 mil)
    Quarterly return on equity: 3.56% ($2.7 mil)
    Net income: $3.4 mil
    Quarterly Net income: $0.7 mil
    Pretax return on assets: 0.58% ($3,713.6 mil)
    Quarterly Pretax return on assets: 0.57% ($3,649.6 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 213Total employees (full-time equivalent)
  • $640,272Total assets
  • $41,132Cash and due from depository institutions
  • $28,525Interest-bearing balances
  • $54,677Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $477,566Net loans & leases
  • $11,127Loan loss allowance
  • $0Trading account assets
  • $14,884Bank premises and fixed assets
  • $7,725Other real estate owned
  • $12,550Goodwill and other intangibles
  • $640,272Life insurance assets
  • $31,738All other assets
  • $562,945Total liabilities and capital
  • $548,406Total liabilities
  • $439,151Total deposits
  • $548,406Interest-bearing deposits
  • $81Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $10,500Trading liabilities
  • $0Other borrowed funds
  • $4,039Subordinated debt
  • $77,327All other liabilities
  • $77,327Total equity capital
  • $77,327Total bank equity capital
  • $0Perpetual preferred stock
  • $550Common stock
  • $30,551Surplus
  • $46,226Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $14,541Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $14,035Income earned, not collected on loans
  • $17Earning assets
  • $2,155Long-term assets (5+ years)
  • $560,768Average Assets, year-to-date
  • $202,870Average Assets, quarterly
  • $643,190Volatile liabilities
  • $646,418Insider loans
  • $471,470FHLB advances
  • $628,200Loans and leases held for sale
  • $17,275Unused loan commitments
  • $10,497Tier 1 (core) risk-based capital
  • $65,022Tier 2 risk-based capital
  • $5,441Total risk weighted assets
  • $1,337Total unused commitments
  • $91,596Restructured Loans and leases
  • $1,436Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $29,278Total interest income
  • $5,240Total interest expense
  • $24,038Net interest income
  • $2,500Provision for loan and lease losses
  • $6,187Total noninterest income
  • $0Fiduciary activities
  • $1,799Service charges on deposit accounts
  • $0Trading account gains & fees
  • $4,388Additional noninterest income
  • $24,350Total noninterest expense
  • $13,681Salaries and employee benefits
  • $2,534Premises and equipment expense
  • $8,135Additional noninterest expense
  • $3,375Pre-tax net operating income
  • $368Securities gains (losses)
  • $333Applicable income taxes
  • $3,410Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,410Net income attributable to bank
  • $0Net charge-offs
  • $3,410Cash dividends
  • $1,990Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.19%Yield on earning assets
  • 0.93%Cost of funding earning assets
  • 4.26%Net interest margin
  • 1.10%Noninterest income to earning assets
  • 4.32%Noninterest expense to earning assets
  • 0.48%Net operating income to assets
  • 0.53%Return on assets (ROA)
  • 0.58%Pretax return on assets
  • 4.53%Return on equity (ROE)
  • 4.53%Retained earnings to average equity (YTD only)
  • 0.41%Net charge-offs to loans
  • 125.63%Credit loss provision to net charge-offs
  • 2.95%Efficiency ratio
  • 80,447Assets per employee
  • 3.01%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 2.28%Loss allowance to noncurrent loans
  • 79.28%Noncurrent assets plus other real estate owned to assets
  • 3.40%Noncurrent loans to loans
  • 2.87%Net loans and leases to deposits
  • 87.08%Net loans and leases to core deposits
  • 94.14%Equity capital to assets
  • 12.08%Core capital (leverage) ratio
  • 10.35%Tier 1 risk-based capital ratio
  • 13.79%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $643,190Average earning assets
  • $75,352Average equity
  • $564,207Average loans

List of branches

  • 1 Oregon Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    19466614Gearhart Branch3410 Hwy 101 N #b, Gearhart, OR 97138October 01, 2006Full Service Brick and Mortar
  • 16 Washington Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    016132Bank Of The Pacific300 East Market Street, Aberdeen, WA 98520December 26, 1979Full Service Brick and Mortar
    1195631Ocean Shores Branch145 Chance A La Mer Street, Ocean Shores, WA 98569Febuary 02, 1971Full Service Brick and Mortar
    3255828Hoquiam Branch405 8th Street, Hoquiam, WA 98550Febuary 13, 1989Full Service Brick and Mortar
    4255829Taholah Branch515 Quinault Drive, Taholah, WA 98587September 17, 1993Full Service Brick and Mortar
    5255830Montesano Branch150 South Main, Montesano, WA 98563October 06, 1997Full Service Brick and Mortar
    614164Long Beach BranchPacific Ave. South & 10th St. South, Long Beach, WA 98631October 27, 1971Full Service Brick and Mortar
    7251209Naselle-Grays River Valley Branch309 Knappton Road, Naselle, WA 98638December 02, 1974Full Service Brick and Mortar
    8251210Ilwaco BranchSecond And Spruce Streets, Ilwaco, WA 98624May 23, 1977Full Service Brick and Mortar
    9251211Ocean Park BranchBay And Union Avenues, Ocean Park, WA 98640December 01, 1979Full Service Brick and Mortar
    10266627Cathlamet Branch140 3rd Street, Cathlamet, WA 98612January 01, 1924Full Service Brick and Mortar
    1157184Bellingham Branch100 Grand Avenue, Bellingham, WA 98227March 03, 1997Full Service Brick and Mortar
    14362504Hannegan Branch4124 Hannegan Road, Bellingham, WA 98226October 04, 2001Full Service Brick and Mortar
    15365647Lynden1800 Front Street, Lynden, WA 98264December 16, 2002Full Service Brick and Mortar
    16440498Ferndale Branch1860 Main Street, Ferndale, WA 98248May 23, 2005Full Service Brick and Mortar
    17447399Raymond Branch560 Commercial Street, Raymond, WA 98577January 23, 2006Full Service Brick and Mortar
    18450427Anacortes Branch801 Commercial Avenue, Anacortes, WA 98221May 01, 2006Full Service Brick and Mortar

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