Pacific Financial Corp (PFLC) financial statements (2022 and earlier)

Company profile

Business Address 1101 S BOONE STREET
ABERDEEN, WA 98520-5244
State of Incorp. WA
Fiscal Year End December 31
SIC 6022 - State Commercial Banks (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

Current Assets
Cash, cash equivalents, and short-term investments31,037  
Cash and cash equivalents31,037  
Disposal group, including discontinued operation5,786  
Total current assets:36,823  
Noncurrent Assets
Property, plant and equipment16,30316,79014,593
Intangible assets, net (including goodwill)13,60713,64912,550
Intangible assets, net (excluding goodwill)1,4391,4811,268
Total noncurrent assets:29,91030,43927,143
Other undisclosed assets678,074674,600616,451
TOTAL ASSETS:744,807705,039643,594
Current Liabilities
Debt  3,000
Due to related parties2,374  
Total current liabilities:2,374 3,000
Noncurrent Liabilities
Long-term debt and lease obligation, including:11,453  
Other undisclosed long-term debt and lease obligation11,453  
Total noncurrent liabilities:11,453  
Other undisclosed liabilities658,497637,902573,873
Total liabilities:672,324637,902576,873
Stockholders' equity
Stockholders' equity attributable to parent72,48367,13766,721
Common stock10,37110,18210,122
Additional paid in capital42,99141,81741,366
Accumulated other comprehensive income (loss)(135)(1,369)421
Retained earnings19,25616,50714,812
Total stockholders' equity:72,48367,13766,721
TOTAL LIABILITIES AND EQUITY:744,807705,039643,594

Income statement (P&L) ($ in thousands)

Net investment income26,937  
Financial services revenue5,564  
Cost of revenue
(Financial Services Costs)
Gross profit:32,201  
Operating expenses(25,055)(20,867)(19,456)
Other operating income, net
(Noninterest Income, Other Operating Income)
Operating income (loss):9,392(18,224)(17,620)
Nonoperating income661455841
Investment income, nonoperating363(37) 
Gains (losses) on sales of other real estate(207)40331
Bank owned life insurance income505452510
Interest and debt expense(2,125)(2,490)(3,484)
Income (loss) from continuing operations before equity method investments, income taxes:7,928(20,259)(20,263)
Other undisclosed income (loss) from continuing operations before income taxes(1,271)24,96226,348
Income from continuing operations before income taxes:6,6574,7036,085
Income tax expense(1,730)(972)(1,300)
Net income available to common stockholders, diluted:4,9273,7314,785

Comprehensive Income ($ in thousands)

Net income:4,9273,7314,785
Other comprehensive income1,269  
Comprehensive income:6,1963,7314,785
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(35)(1,790)666
Comprehensive income, net of tax, attributable to parent:6,1611,9415,451

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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