Bank of the Pacific
Aberdeen, Washington, Grays Harbor County
$1.3B in total assets, the 881st largest of 4,309 US banks and 13th of 29 headquartered in Washington.
- FDIC certificate
- 23041
- Established
- 1979
- Owned by
- Pacific Financial Corp
- Primary regulator
- FDIC
At a glance
Compared with 11 banks headquartered in Washington with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $1.3B | 18% | $2.1B | |
| Loans | $770M | 2% | $1.5B | |
| Deposits | $1.1B | 18% | $1.8B | |
| Return on assets | 1.11% | 64% | 0.90% | |
| Net interest margin | 4.15% | 82% | 3.70% | |
| Efficiency ratio | 70.0% | 54% | 68.2% | |
| Equity to assets | 10.99% | 27% | 11.42% | |
| Loans to deposits | 69% | 18% | 88% |
Growth
Total assets grew -0.4% a year over the last 5 years and 4.1% a year over 10 years, without acquisitions.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Feb 2004 | Bank Northwest Bellingham, WA | $105M |
| Nov 2000 | Bank of the Pacific Long Beach, WA, an affiliate under the same holding company | $118M |
Where they operate
0 branches in 0 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Grays Harbor County, WA | $451M | 31.5% | 2 of 7 |
| Pacific County, WA | $194M | 52.8% | 1 of 4 |
| Whatcom County, WA | $187M | 3.6% | 9 of 14 |
| Clatsop County, OR | $96M | 12.2% | 4 of 5 |
| Skagit County, WA | $59M | 1.8% | 11 of 12 |
| Wahkiakum County, WA | $58M | 78.7% | 1 of 2 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net loss of 20 branches since 2016 (20 to 0, −100.0%). 7 opened, 0 acquired, 27 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 20 | |||
| 2016 | Opened AberdeenClosed Ferndale and Ilwaco | 1 | 2 | −1 | 19 |
| 2019 | Opened Burlington and TacomaClosed Naselle and Warrenton | 2 | 2 | 0 | 19 |
| 2021 | Opened WarrentonClosed Astoria | 1 | 1 | 0 | 19 |
| 2022 | Closed Tacoma | 0 | 1 | −1 | 18 |
| 2023 | Opened Olympia and VancouverClosed Vancouver | 2 | 1 | +1 | 19 |
| 2024 | Opened Lake Oswego | 1 | 0 | +1 | 20 |
| 2026 through Q2 | Closed 20 in 2 states | 0 | 20 | −20 | 0 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Commercial real estate | 49% | 28% | |
| 1-4 family residential | 13% | 32% | |
| Business (C&I) | 11% | 6% | |
| Multifamily | 9% | 11% | |
| Consumer | 6% | 12% | |
| Farmland | 4% | 0% | |
| Construction and land | 4% | 6% | |
| Agricultural | 2% | 1% | |
| Other | 1% | 3% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 50% | 52% | |
| Noninterest-bearing | 37% | 20% | |
| Time deposits | 13% | 28% |
Brokered deposits are 0.0% of deposits (peers 1.2%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 0.04% | 0.57% |
| Net charge-offs, annualized | 0.02% | 0.03% |
| Reserves to loans | 1.16% | 1.12% |
| Leverage ratio | 10.99% | 11.44% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Washington
Largest competitors in Grays Harbor County, WA
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/banks/bank-pacific-aberdeen-wa