Pacific Continental Corporation (PCBK) saw net income in 2012 rise 136.9% over 2011, reflecting the solid growth of their primary niche segments such as health care and nonprofit, said Roger S. Busse, President and Chief Operating Officer of Pacific Continental Corporation.
“Dental banking currently represents about 31% of our total portfolio, or $270.8 million. We have made more than 1,000 dental loans in the past 10 years. It’s a high-performing portfolio. During 2012, and similarly for the last three years, we have had less than 0.20% in losses. The growth in the dental portfolio was about 31% over the previous year,” Busse said.
Busse notes that the growth in all segments was funded by a solid expansion in core deposits. Additionally, PCBK has more than 1,000 nonprofit banking relationships, and expects growth in that area as well.
“Down the road our nonprofit relationships will provide us with superior core funding. I say that because even though donations to nonprofit organizations dropped fairly substantially during the recession, the core deposits related to our nonprofit clients remained fairly steady,” said Busse.
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