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Pacific Financial board authorizes stock buyback program

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Pacific Financial board authorizes stock buyback program

Pacific Financial Corp.'s board authorized the repurchase of up to about $2.6 million or roughly 2% of the company's outstanding common stock, starting Nov. 1.

Repurchases may be made from time to time on the open market or through privately negotiated transactions.

Aberdeen, Wash.-based Pacific Financial is the holding company of Bank of the Pacific.