LOS ANGELES--(BUSINESS WIRE)-- Pacific City Financial Corporation (OTC Pink: PFCF), the holding company of Pacific City Bank, today announced that its Board of Directors of the Company declared a ten percent (10%) stock dividend on the Company’s common stock. The stock dividend is payable on or about February 22, 2016 (the “Payable Date”) to common shareholder of record on January 29, 2016 (the “Record Date”). In accordance with Section 407 of the California Corporations Code, the Company shall pay in cash the fair value of fractions of a share as of the Record Date to the respective shareholders who are otherwise entitled to a fractional share in lieu of such fractional share.

“We are pleased to declare this stock dividend in addition to cash dividends we had paid during the year as part of ongoing effort to increase our shareholder value. We will continue to be diligent in the management of our institution for the benefit of our shareholders,” said Haeyoung Cho, President and CEO.

About Pacific City Financial Corporation

Headquartered in Los Angeles, California, Pacific City Financial Corporation is the parent company of Pacific City Bank, a full-service commercial bank with ten branch offices and six loan production offices in Lynwood and Bellevue, Washington; Chicago, Illinois; Annandale, Virginia; Atlanta, Georgia; and Orange County, California. Pacific City Bank specializes in commercial banking for small to medium-size businesses by providing commercial real estate loans, small business loans and lines of credit, trade finance loans, auto loans, residential mortgage loans, and SBA loans. Pacific City Bank serves a diverse customer base through its branches in the Greater Los Angeles Area, New Jersey and its Loan Production Offices in five states.

View source version on businesswire.com: http://www.businesswire.com/news/home/20151221006220/en/

Pacific City Financial Corporation
Timothy Chang
Senior Vice President & Chief Financial Officer
213-210-2000

Source: Pacific City Financial Corporation