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Bank of the Pacific Partners with Federal Home Loan Bank to Support Local Food Banks and Affordable Housing Initiatives

Nov 18, 2024•over 1 year ago

Contract Type

partnership

AberdeenFinancial ServicesFinanceLendingBanking

Description

Bank of the Pacific has partnered with the Federal Home Loan Bank of Des Moines to award grants to non-profit associations in Washington state through the FHLB Member Impact Fund. The initiative aims to address the growing needs for food security and affordable housing as part of the Bank’s ongoing efforts to support underserved populations.

Company Information

Company

Pacific Financial Corporation

Location

Aberdeen, Washington, United States

About

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. At September 30, 2023, the Company had total assets of $1.18 billion and operated fourteen 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 operated loan production offices in the communities of Olympia and Burlington, Washington and Salem, Oregon. Visit the Company’s website at www.bankofthepacific.com. Member FDIC.

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Strategic

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Agreement Insights

Based on industry data
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months

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