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Sure, here's an overview of Pacific Financial Corporation (ticker symbol: PFCD)
* Pacific Financial Corporation (PFC) is a Delaware-based public corporation that provides equipment leasing and financing solutions to small and mid-sized businesses across the United States.
* The company focuses on providing financing solutions to small and mid-sized businesses for equipment and capital expenditures. They offer competitive financing solutions that allow clients to acquire equipment and technology they need to run and grow their businesses.
* As of September 2022, Pacific Financial Corporation had total assets of $869 million, loans and leases of $719 million, and deposits of $571 million.
* The stock of Pacific Financial Corporation (PFCD) is listed on the NASDAQ stock exchange. The current market capitalization of Pacific Financial Corporation (PFCD) is $291.37 million.
In terms of financial performance, for the nine months that ended September 30, 2022, the company reported net income of $18.7 million, or $0.97 per share, compared to $15.4 million, or $0.83 per share, for the corresponding period in 2021. The company's net interest income increased 20.3% year over year to $20.5 million, driven by a 27.5% increase in interest income on loans and leases, partially offset by a 1.4% increase in interest expense.
Pacific Financial Corporation (PFCD) has consistently delivered top-line growth in recent years, driven by its highly disciplined underwriting standards, strong due diligence, in-depth credit analysis, competitive pricing, and flexible lease structures. In 2022, PFCD's top line grew 23.8% year over year, driven by a 24.9% increase in leasing and finance receivables.
On January 19, 2023, the company declared a cash dividend of $0.17 per share payable on February 15, 2023, to shareholders of record as of February 1, 2023. Future dividend declarations will be subject to board approval.
It is very important to note that investing in the stock market carries risks. As a result, conducting thorough research, consulting with a financial advisor, and considering personal risk tolerance before making any investment decisions are essential.