A financial holding company, Pacific Financial Corporation (OTCQX: PFLC), based in Aberdeen, Washington, released its first-quarter results for 2026. The company, which owns Bank of the Pacific, announced a net income of $3.1 million, translating to $0.30 per diluted share. This marks a slight decrease from the previous quarter's net income of $3.1 million, or $0.31 per diluted share in the fourth quarter of 2025, and a noticeable increase from the $2.4 million, or $0.24 per diluted share in the first quarter of 2025. The drop in net income compared to the previous quarter is attributed to lower net interest income, alongside recaptured credit losses, reduced non-interest income, and lower non-interest expenses.