Pacific Financial (PFLC) in Aberdeen, Wash., has named a new leader for its bank.

Denise Portmann will become president and chief executive at the $716 million-asset Bank of the Pacific on Jan. 1. She will succeed Dennis Long, who will remain president and CEO at the holding company.

Portmann, 55, joined Pacific Financial as treasurer in 2001 and became the bank's chief financial officer in 2004. She will continue to fill her current roles until a replacement is found. The company said it has begun a search for a new CFO.

Long, 68, joined Bank of the Pacific as president in 1997 and was named CEO in 2001.

"After working side-by-side with [Portmann] over the last 12 years, we know that her broad experience and proven leadership in the financial services industry will make her an exceptional CEO," Long said in a press release.

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