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Bank of the Pacific Donates Naselle Building to Ocean Beach Hospital

Company Release - 12/20/2018 7:42 PM ET

ABERDEEN, Wash., Dec. 20, 2018 (GLOBE NEWSWIRE) -- Pacific Financial Corporation (OTCQB: PFLC), the holding company for Bank of the Pacific, today announced that it will donate the Naselle branch building at 309 Knappton Road to the nearby Ocean Beach Hospital and Medical Clinics.  The branch building is approximately 2,000 square-feet and is slated to close on February 1, 2019, with customer accounts consolidated into the nearby Bank of the Pacific branches in Coastal Washington and Oregon.  An automated teller machine (ATM) will be retained at the building site.

The medical clinic in Naselle is presently located in a 1,000 square foot mobile home, approximately 2 miles from the new building.  It has been part of the Naselle community for over 35 years.  The new location offers twice the much-needed space, which will be a tremendous asset to patients in the community.  In addition, the medical clinic will benefit from the increased visibility adjacent to other Naselle businesses.  The vision of the hospital and medical clinics is to continue to provide high-quality routine and critical health care services to the rural communities they service.

“As a community bank, we are delighted to be able to support our community by gifting this building to Ocean Beach Hospital, which provides essential medical and health services to the community,” said Denise Portmann, President and Chief Executive Officer.  “As we lamented closing the Naselle branch, we wanted to continue supporting the community. Ocean Beach Hospital needs the additional space and they will also benefit from a more visible location.”

“We are honored to accept this gift from Bank of the Pacific,” said Larry Cohen, MS, Chief Executive Officer of Ocean Beach Hospital and Medical Clinics.  “We are very appreciative of the Bank for this generous donation.  We are excited about the opportunity to create an updated care site and continue servicing the Naselle community with medical care in a more visible location and in the area’s commercial hub.  Ocean Beach Hospital and its medical clinics provide access to both routine and critical health care services for the people who live, work and play in our community.  Our mission is to improve the health and the well-being of the people who are in our care.”

“In addition to donating the building to Ocean Beach Hospital, we are also mindful of the importance of banking in the community.  As such, we will be upgrading the existing ATM with deposit taking capabilities in its current location, allowing our customers to maintain their relationship with the bank while making deposits and withdrawals at their convenience,” added Portmann.

ABOUT OCEAN BEACH HOSPITAL

Ocean Beach Hospital was founded in 1934 and is community-owned and operated as a public hospital district.  It is governed by an elected board of commissioners.  They are a Level IV Trauma Hospital and a Level III Stroke Hospital, and are members of the Washington State Hospital Association, Washington Rural Health Collaborative, Washington Rural Health Association, CHOICE/Cascade Pacific Action Alliance, Association of Washington Public Hospital Districts and Pacific County EDC.

Ocean Beach Hospital is a critical access hospital, a designation developed to ensure continued access to high-quality healthcare for rural communities.  They are licensed for 25 inpatient beds, and operate an active swing bed program, allowing patient rooms to transition between acute care and skilled care services.  Ocean Beach Hospital is among the largest employers in Pacific County, Washington, with physicians and staff at our hospital and clinics numbering over 180 people.  See www.oceanbeachhospital.com.

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, 2018, the Company had total assets of $937 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 Tacoma and Burlington in Washington and Salem, Oregon. Visit the Company’s website at www.bankofthepacific.com. Member FDIC.

Contact:
Denise Portmann, President & CEO
Pacific Financial Corporation
Bank of the Pacific
360.537.4061

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Source: Pacific Financial Corporation