8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 13, 2017

PACIFIC CONTINENTAL CORPORATION

(Exact name of registrant as specified in its charter)

Oregon	000-30106	93-1269184
(State of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

111 West 7th Avenue

Eugene, Oregon 97401

(Address of principal executive offices) (Zip Code)

Tel. (541) 686-8685

Registrant’s telephone number, including area code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b–2 of the Securities Exchange Act of 1934 (§ 240.12b–2 of this chapter).     

Emerging growth company    ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ☐

Item 8.01 Other Event

On October 13, 2017, the Board of Directors of Pacific Continental Corporation authorized and declared a cash dividend for the fourth quarter of 2017 of $0.11 per share of the Company’s common stock. The dividend will be paid on October 30, 2017, to shareholders of record on October 23, 2017.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1    Press Release dated October 13, 2017 announcing fourth quarter dividend.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: October 13, 2017

PACIFIC CONTINENTAL CORPORATION
By:	/s/ Richard R. Sawyer
	Richard R. Sawyer
	Chief Financial Officer

EX-99.1

Exhibit 99.1

NEWS RELEASE

FOR MORE INFORMATION CONTACT: Michael Dunne
Public Information Officer
541-338-1428
Michael.dunne@therightbank.com

FOR IMMEDIATE RELEASE

Pacific Continental Corporation Declares Regular Dividend

EUGENE, Ore., October 13, 2017 – Pacific Continental Corporation (Nasdaq: PCBK), the holding company of Pacific Continental Bank, today announced that its board of directors approved a regular cash dividend of $0.11 per share. The dividend is payable October, 30, 2017 to shareholders of record as of October 23, 2017.

“Pacific Continental posted positive results this quarter and we are pleased to deliver this dividend to our shareholders,” said Roger Busse, president and chief executive officer.

Dividend Schedule

Pacific Continental’s board will continue to review dividend considerations so that cash dividends, when and if declared, will typically be paid in February, May, August and November of each year. When and if declared, cash dividend payments will be announced simultaneously with the quarterly earnings release. Pacific Continental’s board of directors takes a broad perspective in its dividend deliberations including a review of recent operating performance, current and projected capital levels, current and projected earnings, risk profile, including loan concentrations as a percentage of capital, planned market expansion, liquidity available at the Corporation, and other metrics, including dividend payout ratios and dividend yield before establishing an annual dividend expectation and before declaring a quarterly dividend.

About Pacific Continental Bank

Pacific Continental Bank, the operating subsidiary of Pacific Continental Corporation, delivers highly personalized services through 15 banking offices in Oregon and Washington. The Bank also operates loan production offices in Tacoma, Washington and Denver, Colorado. Pacific Continental, with $2.6 billion in assets, has established one of the most unique and attractive metropolitan branch networks in the Pacific Northwest with offices in three of the region’s largest markets including Seattle, Portland and Eugene. Pacific Continental targets the banking needs of community-based businesses, health care professionals, professional service providers and nonprofit organizations.

Since its founding in 1972, Pacific Continental Bank has been honored with numerous awards and recognitions from highly regarded third-party organizations including the Seattle Times, the Portland Business Journal, Seattle Business magazine and Oregon Business magazine. A complete list of the company’s awards and recognitions – as well as supplementary information about Pacific Continental Bank – can be found online at therightbank.com. Pacific Continental Corporation’s shares are listed on the Nasdaq Global Select Market under the symbol “PCBK” and are a component of the Russell 2000 Index.

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