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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>





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  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman" style="font-size:11.0pt;">Registration No. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b></p>
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<p style="margin:0in;margin-bottom:.0001pt;margin-right:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">UNITED STATES</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.4pt;margin-right:0pt;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECURITIES AND EXCHANGE COMMISSION</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.7pt;margin-right:0pt;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Washington, D.C. 20549</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.7pt;margin-right:0pt;margin-top:0in;text-align:center;"><u><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;"><b><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:.7pt;margin-right:0pt;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">FORM S-8</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.7pt;margin-right:0pt;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">REGISTRATION STATEMENT UNDER</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.7pt;margin-right:0pt;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">THE SECURITIES ACT OF 1933</font></p>

<p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:.7pt;margin-right:0pt;margin-top:0in;text-align:center;"><u><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;punctuation-wrap:simple;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;letter-spacing:-.15pt;">PACIFIC FINANCIAL CORPORATION</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">(Exact name of registrant as specified in its charter)</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></b></p>

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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">Washington</font><font face="Times New Roman" style="font-size:12.0pt;"><br>
  </font><b><font face="Times New Roman" style="font-size:10.0pt;letter-spacing:.7pt;">(State of incorporation</font></b><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.7pt;">)</font></b></p>
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  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0pt;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">91-1815009<br>
  </font><b><font face="Times New Roman" style="font-size:9.0pt;letter-spacing:.7pt;">(IRS Employer
  Identification No.)</font></b></p>
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  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0pt;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
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 <td valign=top width=17% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0pt;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=41% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0pt;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">1101 S. Boone Street</font><font face="Times New Roman" style="font-size:12.0pt;"><br>
    </font><font face="Times New Roman" style="font-size:10.0pt;">Aberdeen,
   Washington</font><font face="Times New Roman" style="font-size:12.0pt;"><br>
  </font><b><font face="Times New Roman" style="font-size:10.0pt;">(Address of principal executive offices)</font></b></p>
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  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0pt;margin-top:0in;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:9.0pt;"><br>
  </font><font face="Times New Roman" style="font-size:10.0pt;">98520-5244<br>
  </font><b><font face="Times New Roman" style="font-size:10.0pt;">(Zip Code)</font></b></p>
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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.4pt;margin-right:0pt;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;letter-spacing:-.15pt;">PACIFIC FINANCIAL CORPORATION
2011 EQUITY INCENTIVE PLAN</font></p>

<p align=center style="margin:0in;margin-bottom:12.0pt;margin-left:.7pt;margin-right:0pt;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(Full title of the plan)</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.4pt;margin-right:0pt;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Dennis A. Long</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.4pt;margin-right:0pt;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Chief Executive Officer</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.4pt;margin-right:0pt;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Pacific Financial Corporation</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.4pt;margin-right:0pt;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">1101 S. Boone Street</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.4pt;margin-right:0pt;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Aberdeen, Washington&#160;   98520-5244</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.4pt;margin-right:0pt;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Telephone (360) 533-8870</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.4pt;margin-right:0pt;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">(Name, address, and telephone number of agent for
service)</font></b></p>

<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">With a copy to:</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">David G. Post<br>
Miller Nash LLP<br>
  111 S.W. Fifth Avenue, Suite 3400<br>
  Portland, Oregon 97204<br>
(503) 224-5858</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">Indicate by check mark
whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated filer or a smaller reporting company.&#160; See the definitions of
&#8220;large accelerated filer,&#8221; &#8220;accelerated filer&#8221; and &#8220;smaller reporting company&#8221;
in Rule 12b-2 of the Exchange Act.&#160; Check one:</font></p>

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  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">Large accelerated
  filer&nbsp;&nbsp;</font><font face=Wingdings style="font-size:10.0pt;">&#168;</font></p>
  </td>
 <td valign=top width=31% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">Accelerated
  filer&nbsp;&nbsp;</font><font face=Wingdings style="font-size:10.0pt;">&#168;</font></p>
  </td>
 <td valign=top width=12% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
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<tr style="height:.2in;page-break-inside:avoid;">
  <td valign=top width=15% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=31% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=12% style="height:.2in;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
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  <td valign=top width=15% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=42% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">Non-accelerated
  filer&nbsp;&nbsp;</font><font face=Wingdings style="font-size:10.0pt;">&#168;<br>
  </font><font face="Times New Roman" style="font-size:10.0pt;">(Do not check if a smaller reporting
  company)</font></p>
  </td>
 <td valign=top width=31% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:10.0pt;">Smaller
  reporting company &nbsp;</font><font face=Wingdings style="font-size:10.0pt;">x</font></p>
  </td>
 <td valign=top width=12% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;"><font face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:.4pt;margin-right:0pt;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">CALCULATION OF REGISTRATION FEE</font></b></p>

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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Title of</font></b></p>
  <p align=center style="margin:0in;margin-bottom:2.7pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Securities to be Registered</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-left:solid windowtext 1.0pt;border-top:double windowtext 2.55pt;padding:0in 6.0pt 0in 6.0pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Amount to be</font></b></p>
  <p align=center style="margin:0in;margin-bottom:2.7pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Registered</font></b></p>
  </td>
 <td valign=bottom width=20% style="border-left:solid windowtext 1.0pt;border-top:double windowtext 2.55pt;padding:0in 6.0pt 0in 6.0pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-top:4.5pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Proposed Maximum</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Offering Price</font></b></p>
  <p align=center style="margin:0in;margin-bottom:2.7pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Per Share</font></b></p>
  </td>
 <td valign=bottom width=19% style="border-left:solid windowtext 1.0pt;border-top:double windowtext 2.55pt;padding:0in 6.0pt 0in 6.0pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-top:4.5pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Proposed Maximum</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Aggregate</font></b></p>
  <p align=center style="margin:0in;margin-bottom:2.7pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Offering Price</font></b></p>
  </td>
 <td valign=bottom width=16% style="border-left:solid windowtext 1.0pt;border-top:double windowtext 2.55pt;padding:0in 6.0pt 0in 6.0pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:9.0pt;">&nbsp;</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Amount of</font></b></p>
  <p align=center style="margin:0in;margin-bottom:2.7pt;text-align:center;"><b><font face="Times New Roman" style="font-size:9.0pt;">Registration Fee</font></b></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td width=25% style="border-bottom:double windowtext 2.55pt;border-top:solid windowtext 1.0pt;padding:0in 6.0pt 0in 6.0pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">Common Stock,</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">$1.00 par value </font></p>
  </td>
 <td width=20% style="border-bottom:double windowtext 2.55pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 6.0pt 0in 6.0pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">900,000 shares (1)</font></p>
  </td>
 <td width=20% style="border-bottom:double windowtext 2.55pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 6.0pt 0in 6.0pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">$4.01 (2)</font></p>
  </td>
 <td width=19% style="border-bottom:double windowtext 2.55pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 6.0pt 0in 6.0pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">$3,609,000 (2)</font></p>
  </td>
 <td width=16% style="border-bottom:double windowtext 2.55pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 6.0pt 0in 6.0pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">$420.00</font></p>
  </td>
 </tr>
</table>

</div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;line-height:6.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">(1)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">Pursuant to Rule 416 under the
Securities Act of 1933, this registration statement also covers an
indeterminate number of additional shares reserved for issuance under the 2011
Equity Incentive Plan as a result of any future stock split, stock dividend, or
similar adjustment of the outstanding common stock.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:18.4pt;margin-right:0pt;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">(2)</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">Pursuant to Rule 457(h), the
proposed maximum offering price per share, the proposed maximum aggregate offering
price, and the registration fee have been computed based on the average of the
high and low sales prices, $4.01, reported for the common stock on the OTC
Bulletin Board on July 19, 2011. </font></p>









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<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">PART II</FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Item 3.&nbsp; </FONT><U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Incorporation of Documents by Reference</FONT></U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">The following documents filed by the registrant with the Securities and Exchange Commission are incorporated by reference in this registration statement:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 1in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 1in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(a)&nbsp; The registrant&#146;s Annual Report on Form 10-K for the year ended December&nbsp;31, 2010.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 1in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 1in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(b)&nbsp; The registrant's Quarterly Report on Form 10-Q for the quarter ended March&nbsp;31, 2011.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 1in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 1in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(c)&nbsp; The registrant's current reports on Form 8-K filed January&nbsp;24, 2011, March&nbsp;15, 2011, and May&nbsp;3, 2011.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 1in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 1in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(d)&nbsp; The description of the registrant's capital stock included as Exhibit&nbsp;99.1 to this Registration Statement on Form&nbsp;S&#8209;8.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 1in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">All documents filed by the registrant subsequent to those listed above pursuant to Sections&nbsp;13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended, prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be a part hereof from the date of filing of such documents.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Item 4.&nbsp; </FONT><U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Description of Securities</FONT></U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Not applicable.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Item 5.&nbsp; </FONT><U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Interests of Named Experts and Counsel</FONT></U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Not applicable.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Item 6.&nbsp; </FONT><U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Indemnification of Directors and Officers</FONT></U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 12pt"><FONT style="LINE-HEIGHT: normal; FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Under RCW Sections&nbsp;23B.08.510 to 23B.08.570 of the Washington Business Corporation Act (the "Act"), a person who is made a party to a proceeding because such person is or was an officer or director of a corporation (an "Indemnitee") shall be indemnified by the corporation (unless the corporation's articles of incorporation provide otherwise) against reasonable expenses incurred by the Indemnitee in connection with the proceeding if the Indemnitee is wholly successful, on the merits or otherwise, or if ordered by a court of competent jurisdiction.&nbsp;&nbsp;In addition, under those sections a corporation is permitted to indemnify an Indemnitee against liability incurred in a proceeding if (i)&nbsp;the Indemnitee's conduct was in good faith, (ii)&nbsp;in a manner he or she reasonably believed was in the corporation's best interests or at least not opposed to the corporation's best interests, (iii)&nbsp;the Indemnitee had no reasonable cause to believe his or her conduct was unlawful if the proceeding was a criminal proceeding, (iv)&nbsp;the Indemnitee was not adjudged liable to the corporation if the proceeding was by or in the right of the corporation, and (v)&nbsp;the Indemnitee was not adjudged liable on the basis that he or she improperly received a personal benefit.&nbsp;&nbsp;Indemnification in connection with a proceeding by or in the right of the corporation is limited to reasonable expenses incurred in connection with the proceeding.</FONT></P>
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<p style="margin:0in;margin-bottom:12.0pt;text-align:justify;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;line-height:normal;">Pursuant
to the registrant's Restated Articles of Incorporation, as amended (the
&quot;Articles&quot;), the registrant will indemnify each of its present and
former directors (including directors who are also officers), and present and
former non-employee directors of our subsidiaries, with respect to expenses,
settlements, judgments, penalties, and fines in suits to which such person is
or was made or threatened to be made a party by reason of the fact that he or
she is or was a director of the registrant or a subsidiary.&nbsp;&nbsp;No such
indemnification may be provided if the acts or omissions of the director are
adjudged to involve intentional misconduct or a knowing violation of law, if
the director is liable to the registrant for an unlawful distribution, or if
the director participated in a transaction in which he or she personally
received a benefit to which he or she was not legally entitled.&nbsp;&nbsp;With
respect to proceedings instituted by a federal banking agency, indemnification
may only be provided to the extent permitted by the federal and state laws and
regulations governing financial institutions.</font></p>

<p style="margin:0in;margin-bottom:12.0pt;text-align:justify;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;line-height:normal;">The Act provides that
any director held liable for the unlawful payment of a dividend or other
distribution of assets of a corporation shall be entitled to contribution from
(a)&nbsp;each shareholder who accepted the dividend or distribution knowing the
same to have been made in violation of the Act or the Articles and (b)&nbsp;each
director who voted for or assented to the dividend or distribution without
complying with specified standards of conduct.</font></p>

<p style="margin:0in;margin-bottom:12.0pt;text-align:justify;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;line-height:normal;">The registrant carries insurance
coverage for directors and officers against certain liabilities that they may
incur in their capacity as directors or officers of the registrant and its
subsidiaries.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Item
7.&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Exemption from Registration Claimed</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Not applicable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Item 8.&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Exhibits</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;line-height:normal;">The Index to Exhibits listing the
exhibits required by Item&nbsp;601 of Regulation S-K is located at page&nbsp;II-5.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Item
9.&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Undertakings</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(a)&#160; The undersigned registrant hereby undertakes:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160; (1)&#160; To file, during any period in which offers
or sales are being made, a post-effective amendment to this registration
statement:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (i)&#160; To include
any prospectus required by Section 10(a)(3) of the Securities Act of 1933
(&#8220;Securities Act&#8221;);</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (ii)&#160; To reflect
in the prospectus any facts or events arising after the effective date of the
registration statement (or the most recent post-effective amendment thereof)
which, individually or in the aggregate, represent a fundamental change in the
information set forth in the registration statement;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:.75in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.25in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (iii)&#160; To include
any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to
such information in the registration statement;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>


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<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><i><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Provided, however</font></i><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed by the registrant pursuant to
Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934 (&#8220;Exchange
Act&#8221;) that are incorporated by reference in the registration statement.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160; (2)&#160; That, for the purpose of determining any
liability under the Securities Act, each such post-effective amendment shall be
deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be
the initial </font><i><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">bona fide</font></i><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> offering thereof.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160; (3)&#160; To remove from registration by means of a
post-effective amendment any of the securities being registered that remain
unsold at the termination of the offering.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(b)&#160; The undersigned registrant hereby undertakes
that, for purposes of determining any liability under the Securities Act, each
filing of the registrant&#8217;s annual report pursuant to Section&nbsp;13(a) or
15(d) of the Exchange Act (and, where applicable, each filing of an employee
benefit plan&#8217;s annual report pursuant to Section&nbsp;15(d) of the Exchange
Act) that is incorporated by reference in the registration statement shall be
deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be
the initial </font><i><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">bona fide</font></i><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;"> offering thereof.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(h)&#160; Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to directors, officers and
controlling persons of the registrant pursuant to the provisions described in
Item&nbsp;6 above, or otherwise, the registrant has been advised that in the
opinion of the Securities and Exchange Commission such indemnification is
against public policy as expressed in the Securities Act and is, therefore,
unenforceable.&#160; In the event that a claim for indemnification against such
liabilities (other than the payment by the registrant of expenses incurred or
paid by a director, officer or controlling person of the registrant in the
successful defense of any action, suit or proceeding) is asserted by such director,
officer or controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Securities Act and will be governed
by the final adjudication of such issue. </font></p>





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<p align=center style="margin:0in;margin-bottom:12.0pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SIGNATURES</font></p>

<p style="margin:0in;margin-bottom:6.0pt;text-align:justify;"><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">The Registrant</font></u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">.</font></p>

<p style="margin:0in;margin-bottom:12.0pt;text-align:justify;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;line-height:normal;">Pursuant to the requirements of the
Securities Act of 1933, the registrant certifies that it has reasonable grounds
to believe that it meets all of the requirements for filing on Form&nbsp;S-8
and has duly caused this registration statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the city of Aberdeen, state of Washington,
on July 21, 2011.</font></p>

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  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:11.0pt;">PACIFIC FINANCIAL CORPORATION</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:11.0pt;">(Registrant)</font></p>
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  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
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  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:11.0pt;">By</font></p>
  </td>
 <td valign=top width=41% style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:11.0pt;">/s/ Denise Portmann</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=20% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=20% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=13% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=6% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=41% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=left style="margin:0in;margin-bottom:.0001pt;text-align:left;"><font face="Times New Roman" style="font-size:11.0pt;">Denise Portmann<br>
  Chief Financial Officer</font></p>
  </td>
 </tr>
</table>

</div>

<p style="margin:0in;margin-bottom:12.0pt;text-align:justify;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;line-height:normal;">Pursuant to the requirements of the Securities Act of
1933, this registration statement has been signed by the following persons in
the capacities indicated as of July 21, 2011.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<div align=center>

<table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td colspan=3 valign=top width=49% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><u><font face="Times New Roman" style="font-size:11.0pt;">Signature</font></u></b></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=48% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><u><font face="Times New Roman" style="font-size:11.0pt;">Title</font></u></b></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=bottom width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=bottom width=46% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Principal Executive Officer
  and Director:</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">*DENNIS A. LONG</font></p>
  </td>
 <td valign=bottom width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=bottom width=48% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">President, Chief Executive
  Officer, and Director</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=46% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=48% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=46% style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Principal Financial and
  Accounting Officer:</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">/s/ Denise Portmann</font></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=bottom width=48% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Chief Financial Officer</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=46% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Denise Portmann</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=48% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=46% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">A Majority of the Board of
  Directors:</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=5% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=43% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=46% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">*GARY C. FORCUM</font></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=48% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Director (Chairman of the
  Board)</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=46% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">*G. DENNIS ARCHER</font></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=48% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Director</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=46% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">*SUSAN C. FREESE</font></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=48% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Director</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=46% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">*EDWIN KETEL</font></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=48% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Director</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=46% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">*RANDY W. ROGNLIN</font></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=48% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Director</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=46% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">*RANDY RUST</font></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=48% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Director</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=46% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">*DOUGLAS M. SCHERMER</font></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=48% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=46% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=48% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=7% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">*By:</font></p>
  </td>
 <td valign=top width=39% style="border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">/s/ Denise Portmann</font></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=48% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=7% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=39% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Denise Portmann, as
  attorney-in-fact</font></p>
  </td>
 <td valign=top width=3% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 valign=top width=48% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

</div>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>





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<p align=center style="margin:0in;margin-bottom:24.0pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">INDEX TO EXHIBITS</font></p>

<p style="margin:0in;margin-bottom:12.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">4.1</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Restated Articles of Incorporation
of the registrant.&#160; Incorporated by reference to Exhibit 3.2 to the
registrant's Quarterly Report on Form 10-Q for the quarter ended June 30, 2000.</font></p>

<p style="margin:0in;margin-bottom:12.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">4.2</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Bylaws of the registrant.&#160;
Incorporated by reference to Exhibit 2b to the registrant's Form 8-A filed by
the registrant and declared effective on March 7, 2000 (Registration No.
000-29329).</font></p>

<p style="margin:0in;margin-bottom:12.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">5&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Opinion of Miller Nash LLP.</font></p>

<p style="margin:0in;margin-bottom:12.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">23.1&#160;&#160;&#160;&#160;&#160; Consent of Deloitte &amp; Touche LLP.</font></p>

<p style="margin:0in;margin-bottom:12.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">23.2&#160;&#160;&#160;&#160;&#160; Consent of Miller Nash LLP.&#160; Included in Exhibit 5.</font></p>

<p style="margin:0in;margin-bottom:12.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.5in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">24&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Power of attorney of certain officers and directors.</font></p>

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of common stock</font></p>




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pfcs8110722.htm - Generated by SEC Publisher for SEC Filing
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933
PACIFIC FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
Washington
(State of incorporation
)
91-1815009
(IRS Employer
  Identification No.)
1101 S. Boone Street
Aberdeen,
   Washington
(Address of principal executive offices)
98520-5244
(Zip Code)
PACIFIC FINANCIAL CORPORATION
2011 EQUITY INCENTIVE PLAN
(Full title of the plan)
Dennis A. Long
Chief Executive Officer
Pacific Financial Corporation
1101 S. Boone Street
Aberdeen, Washington    98520-5244
Telephone (360) 533-8870
(Name, address, and telephone number of agent for
service)
With a copy to:
David G. Post
Miller Nash LLP
111 S.W. Fifth Avenue, Suite 3400
Portland, Oregon 97204
(503) 224-5858
Indicate by check mark
whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated filer or a smaller reporting company.  See the definitions of
"large accelerated filer," "accelerated filer" and "smaller reporting company"
in Rule 12b-2 of the Exchange Act.  Check one:
Large accelerated
  filer
¨
Accelerated
  filer
¨
Non-accelerated
  filer
¨
(Do not check if a smaller reporting
  company)
Smaller
  reporting company
x
CALCULATION OF REGISTRATION FEE
Title of
Securities to be Registered
Amount to be
Registered
Proposed Maximum
Offering Price
Per Share
Proposed Maximum
Aggregate
Offering Price
Amount of
Registration Fee
Common Stock,
$1.00 par value
900,000 shares (1)
$4.01 (2)
$3,609,000 (2)
$420.00
(1)
Pursuant to Rule 416 under the
Securities Act of 1933, this registration statement also covers an
indeterminate number of additional shares reserved for issuance under the 2011
Equity Incentive Plan as a result of any future stock split, stock dividend, or
similar adjustment of the outstanding common stock.
(2)
Pursuant to Rule 457(h), the
proposed maximum offering price per share, the proposed maximum aggregate offering
price, and the registration fee have been computed based on the average of the
high and low sales prices, $4.01, reported for the common stock on the OTC
Bulletin Board on July 19, 2011.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents by Reference
.
The following documents filed by the registrant with the Securities and Exchange Commission are incorporated by reference in this registration statement:
(a)  The registrant's Annual Report on Form 10-K for the year ended December 31, 2010.
(b)  The registrant's Quarterly Report on Form 10-Q for the quarter ended March 31, 2011.
(c)  The registrant's current reports on Form 8-K filed January 24, 2011, March 15, 2011, and May 3, 2011.
(d)  The description of the registrant's capital stock included as Exhibit 99.1 to this Registration Statement on Form S‑8.
All documents filed by the registrant subsequent to those listed above pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended, prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be a part hereof from the date of filing of such documents.
Item 4.
Description of Securities
.
Not applicable.
Item 5.
Interests of Named Experts and Counsel
.
Not applicable.
Item 6.
Indemnification of Directors and Officers
.
Under RCW Sections 23B.08.510 to 23B.08.570 of the Washington Business Corporation Act (the "Act"), a person who is made a party to a proceeding because such person is or was an officer or director of a corporation (an "Indemnitee") shall be indemnified by the corporation (unless the corporation's articles of incorporation provide otherwise) against reasonable expenses incurred by the Indemnitee in connection with the proceeding if the Indemnitee is wholly successful, on the merits or otherwise, or if ordered by a court of competent jurisdiction.  In addition, under those sections a corporation is permitted to indemnify an Indemnitee against liability incurred in a proceeding if (i) the Indemnitee's conduct was in good faith, (ii) in a manner he or she reasonably believed was in the corporation's best interests or at least not opposed to the corporation's best interests, (iii) the Indemnitee had no reasonable cause to believe his or her conduct was unlawful if the proceeding was a criminal proceeding, (iv) the Indemnitee was not adjudged liable to the corporation if the proceeding was by or in the right of the corporation, and (v) the Indemnitee was not adjudged liable on the basis that he or she improperly received a personal benefit.  Indemnification in connection with a proceeding by or in the right of the corporation is limited to reasonable expenses incurred in connection with the proceeding.
Pursuant
to the registrant's Restated Articles of Incorporation, as amended (the
"Articles"), the registrant will indemnify each of its present and
former directors (including directors who are also officers), and present and
former non-employee directors of our subsidiaries, with respect to expenses,
settlements, judgments, penalties, and fines in suits to which such person is
or was made or threatened to be made a party by reason of the fact that he or
she is or was a director of the registrant or a subsidiary.  No such
indemnification may be provided if the acts or omissions of the director are
adjudged to involve intentional misconduct or a knowing violation of law, if
the director is liable to the registrant for an unlawful distribution, or if
the director participated in a transaction in which he or she personally
received a benefit to which he or she was not legally entitled.  With
respect to proceedings instituted by a federal banking agency, indemnification
may only be provided to the extent permitted by the federal and state laws and
regulations governing financial institutions.
The Act provides that
any director held liable for the unlawful payment of a dividend or other
distribution of assets of a corporation shall be entitled to contribution from
(a) each shareholder who accepted the dividend or distribution knowing the
same to have been made in violation of the Act or the Articles and (b) each
director who voted for or assented to the dividend or distribution without
complying with specified standards of conduct.
The registrant carries insurance
coverage for directors and officers against certain liabilities that they may
incur in their capacity as directors or officers of the registrant and its
subsidiaries.
Item
7.
Exemption from Registration Claimed
.
Not applicable.
Item 8.
Exhibits
.
The Index to Exhibits listing the
exhibits required by Item 601 of Regulation S-K is located at page II-5.
Item
9.
Undertakings
.
(a)  The undersigned registrant hereby undertakes:
(1)  To file, during any period in which offers
or sales are being made, a post-effective amendment to this registration
statement:
(i)  To include
any prospectus required by Section 10(a)(3) of the Securities Act of 1933
("Securities Act");
(ii)  To reflect
in the prospectus any facts or events arising after the effective date of the
registration statement (or the most recent post-effective amendment thereof)
which, individually or in the aggregate, represent a fundamental change in the
information set forth in the registration statement;
(iii)  To include
any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to
such information in the registration statement;
Provided, however
, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed by the registrant pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934 ("Exchange
Act") that are incorporated by reference in the registration statement.
(2)  That, for the purpose of determining any
liability under the Securities Act, each such post-effective amendment shall be
deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be
the initial
bona fide
offering thereof.
(3)  To remove from registration by means of a
post-effective amendment any of the securities being registered that remain
unsold at the termination of the offering.
(b)  The undersigned registrant hereby undertakes
that, for purposes of determining any liability under the Securities Act, each
filing of the registrant's annual report pursuant to Section 13(a) or
15(d) of the Exchange Act (and, where applicable, each filing of an employee
benefit plan's annual report pursuant to Section 15(d) of the Exchange
Act) that is incorporated by reference in the registration statement shall be
deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be
the initial
bona fide
offering thereof.
(h)  Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to directors, officers and
controlling persons of the registrant pursuant to the provisions described in
Item 6 above, or otherwise, the registrant has been advised that in the
opinion of the Securities and Exchange Commission such indemnification is
against public policy as expressed in the Securities Act and is, therefore,
unenforceable.  In the event that a claim for indemnification against such
liabilities (other than the payment by the registrant of expenses incurred or
paid by a director, officer or controlling person of the registrant in the
successful defense of any action, suit or proceeding) is asserted by such director,
officer or controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Securities Act and will be governed
by the final adjudication of such issue.
SIGNATURES
The Registrant
.
Pursuant to the requirements of the
Securities Act of 1933, the registrant certifies that it has reasonable grounds
to believe that it meets all of the requirements for filing on Form S-8
and has duly caused this registration statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the city of Aberdeen, state of Washington,
on July 21, 2011.
PACIFIC FINANCIAL CORPORATION
(Registrant)
By
/s/ Denise Portmann
Denise Portmann
Chief Financial Officer
Pursuant to the requirements of the Securities Act of
1933, this registration statement has been signed by the following persons in
the capacities indicated as of July 21, 2011.
Signature
Title
Principal Executive Officer
  and Director:
*DENNIS A. LONG
President, Chief Executive
  Officer, and Director
Principal Financial and
  Accounting Officer:
/s/ Denise Portmann
Chief Financial Officer
Denise Portmann
A Majority of the Board of
  Directors:
*GARY C. FORCUM
Director (Chairman of the
  Board)
*G. DENNIS ARCHER
Director
*SUSAN C. FREESE
Director
*EDWIN KETEL
Director
*RANDY W. ROGNLIN
Director
*RANDY RUST
Director
*DOUGLAS M. SCHERMER
*By:
/s/ Denise Portmann
Denise Portmann, as
  attorney-in-fact
INDEX TO EXHIBITS
4.1
Restated Articles of Incorporation
of the registrant.  Incorporated by reference to Exhibit 3.2 to the
registrant's Quarterly Report on Form 10-Q for the quarter ended June 30, 2000.
4.2
Bylaws of the registrant. 
Incorporated by reference to Exhibit 2b to the registrant's Form 8-A filed by
the registrant and declared effective on March 7, 2000 (Registration No.
000-29329).
5          Opinion of Miller Nash LLP.
23.1      Consent of Deloitte & Touche LLP.
23.2      Consent of Miller Nash LLP.  Included in Exhibit 5.
24         Power of attorney of certain officers and directors.
99.1      Description
of common stock