pacific continental corp (PCBK) Key Developments
Pacific Continental Corp. Announces Executive Changes
Jul 24 14
Pacific Continental Corporation announced that Hal Brown will retire as chief executive officer at the end of 2014 and Roger Busse, current president and chief operating officer, will become president and CEO. Additionally, Casey Hogan, executive vice president and chief credit officer, will become executive vice president and COO, while Damon Rose, senior credit officer, will assume the role of senior vice president and chief credit officer.
Pacific Continental Seeks Acquisitions
Jul 24 14
Pacific Continental Corp. (NasdaqGS:PCBK) is seeking acquisitions. Hal Brown, Chief Executive Officer of Pacific Continental, said, “We continue to look for acquisitions of banks that have good liability structure.”
Pacific Continental Corp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014
Jul 23 14
Pacific Continental Corp. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported interest and dividend income of $15,618,000 compared to $14,779,000 a year ago. Net interest income was $14,457,000 compared to $13,516,000 a year ago. Income before provision for income taxes was $6,344,000 compared to $5,543,000 a year ago. Net income was $4,148,000 or $0.23 per basic and diluted share compared to $3,724,000 or $0.21 per basic and diluted share a year ago. Return on average assets was 1.13% compared to 1.04% a year ago. Return on average equity (book) was 9.16% compared to 8.19% a year ago. Return on average equity (tangible) was 10.53% compared to 9.42% a year ago.
For the six months, the company reported interest and dividend income of $30,810,000 compared to $29,385,000 a year ago. Net interest income was $28,502,000 compared to $26,891,000 a year ago. Income before provision for income taxes was $12,200,000 compared to $9,178,000 a year ago. Net income was $7,980,000 or $0.44 per diluted share compared to $6,174,000 or $0.34 per diluted share a year ago. Return on average assets was 1.10% compared to 0.87% a year ago. Return on average equity (book) was 8.89% compared to 6.81% a year ago. Return on average equity (tangible) was 10.22% compared to 7.82% a year ago. Book value per share as at June 30, 2014 was $10.20 compared to $10.00 as at June 30, 2013. Tangible book value per share as at June 30, 2014 was $8.88 compared to $8.68 as at June 30, 2013.
Pacific Continental Corporation Declares Regular and Special Cash Dividends, Payable on August 15, 2014
Jul 23 14
Pacific Continental Corporation announced that its board of directors approved a regular cash dividend of $0.10 per share and an additional special cash dividend of $0.03 per share. Both dividends are payable August 15, 2014, to shareholders of record as of August 4, 2014.
Pacific Continental Corp. to Report Q2, 2014 Results on Jul 23, 2014
Jul 3 14
Pacific Continental Corp. announced that they will report Q2, 2014 results at 5:00 PM, Eastern Standard Time on Jul 23, 2014