Profits at Pacific Continental Bank's parent corporation more than doubled in 2012 compared to 2011.
Even with $203,000 of expenses in the fourth quarter related to the company’s acquisition of Eugene-based Century Bank, Pacific Continental reported a quarterly profit of $3.4 million, or 19 cents per share. Last year, the company had a fourth-quarter loss of $852,000, in large part due to a loan that went sour that was backed by bare industrial land in Seattle.
For 2012 as a whole, Pacific Continental had a profit of $12.7 million, or 69 cents per share, up 137 percent over 2011.
Read more at The Register-Guard.