Pacific Mercantile Bancorp operates as the bank holding company for Pacific Mercantile Bank that provides commercial banking products and services to small and medium-size businesses and professionals in Southern California. The company's deposit products include noninterest-bearing and interest-bearing checking accounts, interest-bearing term deposit accounts, money market and savings deposits, and certificates of deposit. It also offers various loans, such as commercial loans and credit lines, accounts receivable and inventory financing, small business administration guaranteed business loans, owner-occupied commercial real estate loans, working capital lines of credit and asset based lending, growth capital loans, equipment financing, letters of credit, and corporate credit cards. In addition, the company provides cash and treasury management solutions, automated clearinghouse payment and wire solutions, fraud protection services, remote deposit capture services, courier services, and online banking services. It operates through banking and financial centers in Newport Beach, San Juan Capistrano, Costa Mesa, Beverly Hills, La Jolla, La Habra, and Ontario of California. The company was founded in 1998 and is based in Costa Mesa, California.
Pacific Mercantile reports 3Q loss COSTA MESA, Calif. (AP) _ Pacific Mercantile Bancorp (PMBC) on Monday reported a loss of $30.5 million in its third quarter. The Costa Mesa, California-based bank said it had a loss of $1.33 per share. The bank holding company posted revenue of $10.2 million in the period. Pacific Mercantile shares have climbed nearly 6 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $7.55, an increase of 13 percent in the last 12 months.
