Pacific Financial Corp. announced unaudited earnings results for the first quarter ended March 31, 2013. For the quarter, total interest income was $6,271,000 against $7,034,000 for the same period a year ago. Net interest income was $5,582,000 against $6,050,000 for the same period a year ago. Income before income taxes was $789,000 against $1,199,000 for the same period a year ago. Net income was $701,000 against $1,018,000 for the same period a year ago. Diluted earnings per share were $0.07 against $0.10 for the same period a year ago. Book value per share was $6.65 against $6.35 for the same period a year ago. Tangible book value per share was $5.41 against $5.11 for the same period a year ago. Return on average assets were 0.43% against 0.64% for the same period a year ago. Return on average equity was 4.17% against 6.35% for the same period a year ago.

Pacific Financial Corp., Annual General Meeting, Apr 24, 2013., at 19:00 Pacific Standard Time. Location: company's administrative headquarters located at 1101 South Boone Street. Agenda: To elect three directors for a three-year term and one director for a remaining term of one year; to consider and approve an amendment to the company's 2011 equity incentive plan to authorize restricted stock units; to approve, on an advisory basis, the company's executive compensation; to vote, on an advisory basis, on the frequency of future advisory votes on executive compensation; to ratify appointment of Deloitte & Touche LLP as independent registered public accountants for 2013; and to consider and act upon such other matters as may properly come before the meeting or any adjournments thereof.

On February 20, 2013, the Board of Directors of Pacific Financial Corp. elected John Van Dijk to serve as a director of the company. Mr. Van Dijk will be compensated for his services as a director consistent with the company's compensation policies for nonemployee directors generally. Mr. Van Dijk was elected to fill a vacancy resulting from the Board's approval of a new position on the Board, which was assigned to Class C. Mr. Van Dijk is expected to be appointed to the Board's Audit Committee. Mr. Van Dijk retired as Secretary of the company and President and Chief Operating Officer of Bank of the Pacific, the company's wholly owned banking subsidiary, on December 31, 2012. The company expects that Mr. Van Dijk will stand for election by shareholders at the 2013 annual meeting of shareholders even though the term of other Class C directors will not expire until the 2014 annual meeting.