EUGENE, Ore., Nov. 16, 2011 /PRNewswire/ -- Pacific Continental Corporation (Nasdaq: PCBK), the holding company of Pacific Continental Bank, today announced the board of directors approved a quarterly cash dividend of $0.05 per share payable December 15, 2011, to shareholders of record on December 5, 2011. The $0.05 per share dividend is an increase of $0.02 per share over the company's September 2011 cash dividend payment.
Hal Brown, Pacific Continental's chief executive officer, commented, "The consecutive increase in our quarterly cash dividend reflects the company's improving profitability and continued strong capital position."
As with all of Pacific Continental's dividends, the board reviews a broad range of balance sheet and other performance metrics, including recent and prospective operating performance, the level of accumulated retained earnings, payout ratios, loan concentrations and other company-wide risks, and competitive yield assessments.
Pacific Continental's board will continue to review dividend considerations so that cash dividends, when and if declared, will typically be paid in March, June, September and December of each year.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, Washington. 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. Since its founding in 1972, Pacific Continental Bank has been honored with numerous awards and recognitions from highly regarded third-party organizations including The Seattle Times , the Portland Business Journal and Oregon Business magazine. 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 Corporation's shares are listed on the Nasdaq Global Select Market under the symbol "PCBK" and are a component of the Russell 2000 Index. SOURCE Pacific Continental Corporation