Pacific Financial Corporation and Bank of the Pacific issued a release announcing that Douglas Biddle will retire from his position as Executive Vice President and Chief Financial Officer of the Aberdeen bank, effective August 31, 2019.
In the release it states that the Board of Directors has retained an executive search firm to assist in the process of identifying his successor.
Biddle will be participating in the recruitment process and will remain with the Company until a replacement is found.
“On behalf of the Board of Directors and Management team, we are extremely grateful for the valued service and contributions Doug has made over the last five years,” said Denise Portmann, President & Chief Executive Officer. “Doug’s dedicated leadership and direction to the Company and Bank during his tenure has been exceptional; he has provided us with tremendous knowledge and strategic financial expertise. We wish Doug the best in his well-deserved retirement and greatly appreciate him remaining to help identify his successor and facilitate a successful leadership changeover.”
“We have built an experienced team of professionals and continue to invest in our people to ensure the long-term success of our business,” said Biddle. “It has been a privilege to serve with the entire Pacific Financial and banking team. I am retiring with the confidence that Pacific Financial and Bank of the Pacific will continue to be a vibrant and growing part of our community.”
Pacific Financial Corporation, based in Aberdeen, is the bank holding company for Bank of the Pacific.As of March 31, 2019, the Company had total assets of $903.7 million and operated fourteen branches in Grays Harbor, Pacific, Whatcom, Skagit, Clark and Wahkiakum counties, as well as two branches in Clatsop County, Oregon.
The Company also operated loan production offices in the communities of Tacoma and Burlington in Washington and Salem, Oregon.
Visit the Company’s website at www.bankofthepacific.com.