Pacific Continental to offer $35 million in stock

Pacific Continental begins public offering of $35 million in common stock

• On 8:26 am EDT, Monday October 12, 2009

EUGENE, Ore. (AP) -- Pacific Continental Corp., the holding company for Pacific Continental Bank, said Monday that it will sell about $35 million of its common stock in an underwritten public offering.

Pacific plans to grant the offering's underwriters a 30-day option to buy up to an additional 15 percent of the common stock sold to cover possible over allotments. D.A. Davidson & Co. is serving as the lead underwriter.

Pacific said it plans to use the net proceeds from the offering for general corporate purposes including organic growth and acquisitions.