Last $13.48 USD
Change Today +0.35 / 2.67%
Volume 88.6K
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As of 8:10 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

111 West 7th Avenue

Eugene, OR 97401

United States

Phone: 541-686-8685

Fax: 541-344-2843

Pacific Continental Corporation operates as the holding company for Pacific Continental Bank that provides a range of financial service products to meet the banking needs of its targeted segments in the market areas served. The bank operates in three primary markets, such as Portland, Oregon/Southwest Washington; Seattle, Washington; and Eugene, Oregon. As of December 31, 2013, the bank operated 14 full-service offices in Oregon and Washington, and 2 loan production offices in Washington and Colorado. The company’s primary markets consist of metropolitan Portland, which includes Southwest Washington; metropolitan Eugene in the state of Oregon; and metropolitan Seattle in the state of Washington. The company has five full-service banking offices in the metropolitan Portland and Southwest Washington area; seven full-service banking offices in the metropolitan Eugene area; and two full-service offices in the metropolitan Seattle area. It also operates loan production offices in Tacoma, Washington and Denver, Colorado. Deposit Services The company offers a range of deposit services that are available in various banks and other financial institutions, including checking, savings, money market accounts, and time deposits. The company provides online cash management, remote deposit capture, and banking services to businesses and consumers. The company also allows 24-hour customer access to deposit and loan information through telephone and online cash management products. Lending Activities The company emphasizes specific areas of lending within its primary markets. Commercial loans are made primarily to professionals, community-based businesses, and nonprofit organizations. These loans are available for general operating purposes, acquisition of fixed assets, purchases of equipment and machinery, and financing of inventory and accounts receivable, as well as other business purposes. The company also originates the U.S. Small Business Administration (SBA) loans and is a national SBA preferred lender. Within its primary markets, the company also originates permanent and construction loans financing commercial facilities and pre-sold, custom and speculative home construction. The major thrust of residential construction lending is smaller in-fill construction projects consisting of single-family residences. During 2013, the company expanded construction financing activity in commercial real estate and multifamily residential construction financing. The company focuses on increasing its commercial and industrial (C & I) loan lending. In particular, the company has developed a specialty in C & I lending to dental professionals. Loans to dental professionals include loans for such purposes as starting up a practice, acquisition of a practice, equipment financing, owner-occupied facilities, and working capital. Loans for dental office startups are SBA loans as these loans represent additional risk. During 2013, the company further expanded its national dental lending program and had active loans in 30 states. The company makes secured and unsecured loans to individuals for various purposes, including purchases of automobiles, mobile homes, boats, and other recreational vehicles, home improvements, education, and personal investment. Merchant and Card Services In 2013, the company entered into an agreement with Vantiv, a third-party provider of merchant services, to outsource all merchant processing for the company’s clients. Other Services The company provides other traditional commercial and consumer banking services, including cash management products for businesses, online banking, safe deposit services, debit and automated teller machine (ATM) cards, automated clearing house transactions, cashier’s checks, notary services, and others. The company is a member of various ATM networks and utilizes an outside processor for the processing of these automated transactions. The company has an agreement with MoneyPass, an ATM provider, which permits the company’s customers to use MoneyPass ATMs located throughout the country at no charge to the customer. Investment Securities As of December 31, 2013, the company’s investment securities included obligations of U.S. government agencies, obligations of states and political subdivisions, private label mortgage-backed securities, mortgage-backed securities, and SBA variable rate pools. Strategy The primary business strategy of the company is to operate in large commercial markets and to provide comprehensive banking and related services tailored to community-based businesses, nonprofit organizations, professional service providers, and banking services for business owners and executives. Supervision and Regulation The company is a bank holding company as defined in the Bank Holding Company Act of 1956, as amended, and is therefore subject to regulation, supervision, and examination by the Federal Reserve. Under Federal Reserve policy and the Dodd-Frank Wall Street Reform and Consumer Protection Act, the company is required to act as a source of financial and managerial strength to the bank. The bank is an Oregon commercial bank operating in Oregon and Washington with deposits insured by the Federal Deposit Insurance Corporation. As an Oregon state bank that is not a member of the Federal Reserve System, the bank is subject to supervision and regulation by the Oregon Department of Consumer and Business Services, and the Federal Deposit Insurance Corporation. Additionally, the bank’s branches in Washington are subject to supervision and regulation by the Washington Department of Financial Institutions and must comply with applicable Washington laws regarding community reinvestment, consumer protection, fair lending, and intrastate branching. In the Community Reinvestment Act of 1977 examination, the bank’s compliance with the Community Reinvestment Act of 1977 is rated ‘Satisfactory’. The bank’s deposits are insured under the Federal Deposit Insurance Act, up to the maximum applicable limits, and are subject to deposit insurance assessments designed to tie what banks pay for deposit insurance closely to the risks they pose. History Pacific Continental Corporation was founded in 1972.

 

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