Pacific Continental Corporation Announces Stock Repurchase Plan

EUGENE, Ore., March 5, 2013 /PRNewswire/ -- Pacific Continental Corporation (Nasdaq: PCBK), the holding company of Pacific Continental Bank, today announced its board of directors recently authorized the repurchase of up to 5 percent of the Company's outstanding shares, or approximately 892,000 shares. The plan will commence effective April 1, 2013.

The purchases will take place during a 12-month period and will be made on the open market. The number, timing and price of shares repurchased will depend on several factors, including business and market conditions as well as opportunities to utilize capital. The Company is under no obligation to repurchase a specific number or dollar amount of shares.

As of December 31, 2012, the Company had consolidated assets of $1.4 billion and tangible common shareholder equity of $161.4 million with tangible common equity to tangible assets at 11.94%.

About Pacific Continental Bank
Pacific Continental Bank, the operating subsidiary of Pacific Continental Corporation, delivers highly personalized services through 14 banking offices in Oregon and Washington. The Bank also operates a loan production office in Tacoma, Washington. With $1.4 billion in assets, Pacific Continental has established one of the most unique and attractive metropolitan branch networks in the 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 received numerous awards and recognitions from highly regarded third-party organizations including The Seattle Times, the Portland Business Journal 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, a component of the Russell 2000 Index, are listed on the Nasdaq Global Select Market under the symbol "PCBK."

SOURCE Pacific Continental Corporation

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