Pacific Financial (Pacific Financial) Credit Losses Provision : $0.40 Mil (As of Mar. 2024)

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What is Pacific Financial Credit Losses Provision?

Pacific Financial's credit losses provision for the three months ended in Mar. 2024 was $0.03 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Mar. 2024 was $0.40 Mil.

Pacific Financial's quarterly credit losses provision declined from Sep. 2023 ($0.25 Mil) to Dec. 2023 ($0.05 Mil) and declined from Dec. 2023 ($0.05 Mil) to Mar. 2024 ($0.03 Mil).

Pacific Financial's annual credit losses provision increased from Dec. 2021 ($-3.65 Mil) to Dec. 2022 ($0.00 Mil) and increased from Dec. 2022 ($0.00 Mil) to Dec. 2023 ($0.52 Mil).

Pacific Financial Credit Losses Provision Historical Data

The historical data trend for Pacific Financial's Credit Losses Provision can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Pacific Financial Credit Losses Provision Chart

Pacific Financial Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

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3.50

-3.65

0.52

Pacific Financial Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Credit Losses Provision	Get a 7-Day Free Trial															0.16	0.07	0.25	0.05	0.03

Pacific Financial Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $0.40 Mil.

Pacific Financial (Pacific Financial) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Pacific Financial Corp (OTCPK:PFLC) » Definitions » Credit Losses Provision

Comparable Companies

Traded in Other Exchanges

N/A

Address

1216 Skyview Drive, Aberdeen, WA, USA, 98520

Website

https://www.bankofthepacific.com

Pacific Financial Corp is active in the financial services domain as a bank holding company of the Bank of the Pacific, based in the United States. Its business also includes loan production and real estate mortgage provision. Its commercial banking division caters through services such as business checking, business savings and certificates of deposits, business loans, treasury management and commercial real estate loans, while its personal banking services comprise of checking solutions, savings solutions, consumer loans and lines of credit.

Executives

Kristi Gundersen	director	PO BOX 1826, ABERDEEN WA 98520
Daniel J. Tupper	director	PO BOX 1826, ABERDEEN WA 98520
Loretta B Reece	director	PO BOX 1826, ABERDEEN WA 98520
Douglas N Biddle	officer: CFO	1101 S. BOONE STREET, ABERDEEN WA 98520-5244
Randy Rust	director	300 E MARKET STREET, ABERDEEN WA 98520-5244
Dwayne Carter	director	1101 S BOONE STREET, ABERDEEN WA 98520
Denise Portmann	officer: VP & CASHIER
Douglas M Schermer	director
Dennis A Long	director, officer: President
Randy W Rognlin	director
Edward Ketel	director
Philippe S Swaab	officer: Vice President	1101 S BOONE STREET, ABERDEEN WA 98520
Duane E Hagstrom	director
Dijk John Van	officer: Secretary
Susan C Freese	director