Oct 17 - The board of directors of Pacific Continental Corp., Eugene, Ore. (Nasdaq: PCBK), the holding company of Pacific Continental Bank, has approved a regular cash dividend of 10 cents per share, which represents a 1 cent per share increase over the prior quarter. Additionally, the board declared a special cash dividend of 12 cents per share. Both dividends are payable Nov. 12, 2013, to shareholders of record on Oct. 28, 2013.
"Increasing client activity and growth in the loan portfolio, together with consistent improvement in credit quality metrics, provide the basis for an increase in the regular dividend," said Hal Brown, CEO. "The 12 cents special dividend further rewards shareholders while continuing to leverage the Company's capital position," added Brown.
About Pacific Continental Bank
Pacific Continental Bank, the operating subsidiary of Pacific Continental Corporation, delivers highly personalized services through fourteen banking offices in Oregon and Washington. The bank also operates loan production offices in Tacoma, Wash., and Denver. Pacific Continental, with $1.4 billion in assets, has established one of the most unique and attractive metropolitan branch networks in the Pacific Northwest with offices in three of the region's largest markets including Seattle, Portland and Eugene. Pacific Continental targets the banking needs of community-based businesses, health care professionals, professional service providers and nonprofit organizations.