Pacific Financial : Terri McKinnis Named EVP Chief Operating Officer of Pacific Financial Corporation and Bank of the Pacific

Vancouver, WA - July 26, 2023 - Terri McKinnis has joined Bank of the Pacific as EVP, Chief Operating Officer, succeeding Thomas C. Baker who retired in June 2023.

Terri has over four decades of banking experience, with half that time served in senior management positions in bank operations and treasury management with oversight responsibilities of bankcard, call center, training, information technology, and human resources. Terri was formerly with the Commerce Bank of Oregon, a division of Zions Bancorporation, N.A. serving as SVP, Chief Operating Officer.

"I am honored to join the Bank of the Pacific team", said Terri McKinnis. "Working for a company culture that embodies its core values aligns with my passion for people and my desire to influence, inspire, and mentor others."

Terri holds a University of Washington Foster School of Business Executive Certificate, and is an honors graduate of the Pacific Coast Banking School (PCBS), a prestigious graduate school of banking. Terri currently serves as a Management Paper Advisor for PCBS supporting and mentoring students with their capstone management thesis.

"On behalf of the Board of Directors, we would like to take this opportunity to thank Tom for his dedicated and loyal service over the last four years," commented Denise Portmann, President and CEO for Bank of the Pacific. "Tom has been a valued member of our executive management team and has provided our company with tremendous knowledge particularly in the area of IT and bank operations. We wish him the very best in his well-deserved retirement and greatly appreciate him helping identify his successor and facilitating a successful leadership transition."

Pacific Financial Corporation of Aberdeen, Washington, is the bank holding company for Bank of the Pacific, a state chartered and federally insured commercial bank. Bank of the Pacific offers banking products and services to small-to-medium sized businesses and professionals in western Washington and Oregon. As of March 31, 2023, the Company had total assets of $1.2 billion and operated sixteen branches in the communities of Grays Harbor, Pacific, Whatcom, Skagit, Clark and Wahkiakum counties in the State of Washington, and two branches in Clatsop County, Oregon. The Company also operates loan production offices in the communities of Burlington, Washington and Salem, Oregon. Visit the Company's website at www.bankofthepacific.com. Member FDIC.