Jan 17 - The board of directors of Pacific Continental Corp. in Eugene, Ore., (Nasdaq: PCBK), the holding company of Pacific Continental Bank, has approved an increase in the regular cash dividend and declared a special cash dividend. The regular cash dividend was increased by 1 cent to 8 cents per share. Additionally, the board declared a special cash dividend of 8 cents per share. Both dividends are payable Feb. 11, 2013, to shareholders of record on Jan. 31, 2013.
"The board's decision to once again increase the regular cash dividend and to declare a third consecutive special cash dividend is supported by our 2012 success and the outlook for 2013," said Hal Brown, CEO. "Careful utilization of our share repurchase program, declarations of regular and special cash dividends, the announced acquisition of Century Bank, and expected balance sheet growth suggests we will continue to thoughtfully leverage our shareholders' investment."
About Pacific Continental Bank
Pacific Continental Bank, the operating subsidiary of Pacific Continental Corporation, delivers highly personalized services through 14 banking offices in Oregon and Washington. The bank also operates a loan production office in Tacoma, Wash. With $1.3 billion in assets, Pacific Continental has established one of the most unique and attractive metropolitan branch networks in the 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. A complete list of the company's awards and recognitions – as well as supplementary information about Pacific Continental Bank – can be found online at www.therightbank.com. Pacific Continental Corp.'s shares, a component of the Russell 2000 Index, are listed on the Nasdaq Global Select Market under the symbol "PCBK."