Overview

* Pacific Financial ( PFLC ) Q3 net income rises to $3.5 mln, driven by higher net interest income

* Company's net interest income increased to $12.3 mln, reflecting strong loan growth

* Total deposits increased 4% to $1.11 bln, reflecting strong deposit growth

Outlook

* Company anticipates strong earnings levels as investments are redeployed into higher yielding assets

* Company sees continued momentum from strong loan and deposit growth

Result Drivers

* LOAN AND DEPOSIT GROWTH - Co attributes increased net interest income to strong loan and deposit growth

* STRATEGIC INITIATIVES - Co cites strategic initiatives like expanding lending team and closing mortgage division for improved efficiency

* CREDIT LOSS RECAPTURE - Co reports a small recapture for credit losses contributing to net income increase

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.35

Q3 Net $3.50

Income mln

Q3 Net $12.30

Interest mln

Income

Q3 $0.14

Dividend

Q3 Net 4.25%

Interest

Margin

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)