COSTA MESA, Calif., Aug. 15, 2013 (GLOBE NEWSWIRE) -- Pacific Mercantile Bancorp (Nasdaq:PMBC). Pacific Mercantile Bancorp today announced Robert Anderson has joined Pacific Mercantile Bank (the "Bank"), the Company's wholly owned subsidiary, as Executive Vice President, Head of Asset Based Lending. Mr. Anderson will be leading the Bank's effort to grow its asset based loan (ABL) portfolio across Southern California. He will be specifically focusing on working capital lines of credit and term loans to finance our clients' growth. "We are privileged to have Mr. Anderson join the executive management team of the Bank and look forward to his building our ABL department, a niche we have looked forward to growing at PMB, and to continue to enhance our commercial banking services," stated Steven K. Buster, President and CEO.
Mr. Anderson most recently led Silicon Valley Bank's Orange County office, at which he was responsible for their technology, life science and clean tech practice. He specialized in venture debt, ABL lines of credit, term loans, and leveraged buy-outs. During his tenure as leader of that office, they saw a 25% compounded annual growth rate in production. He was instrumental in recruiting, developing, and retaining a group of lending teams for the Orange County office and a group of lenders that supported each of their lending niches for the other offices in the region. Over his 17 years of service he helped finance a majority of the venture-capital backed technology and life science companies in Orange County. The higher profile companies he banked at the time of their acquisition include: Gaikai, DATAllegro, Networks In Motion, LenSx Lasers, Cameron Health, and ISTA Pharmaceuticals in addition to many other successful, cutting edge companies.
Tom Vertin, President of Commercial Banking, said, "I am delighted to be working with Mr. Anderson again; I found him to be a great motivator, an incisive thinker and a consistent producer of quality business. He will be a great asset to PMB and will round out our growing team of commercial lenders."
About Pacific Mercantile Bancorp
Pacific Mercantile Bancorp, a publicly traded company with its shares listed on the Nasdaq Stock Market under the trading symbol, "PMBC", is the parent holding company of Pacific Mercantile Bank ("PMB"). PMB is an FDIC insured, California state-chartered bank and a member of the Federal Reserve System, which provides a wide range of commercial banking services to businesses, business professionals and individual clients through its combination of traditional banking financial centers and comprehensive, sophisticated electronic banking services. The Bank's major product lines include commercial and commercial real estate loans, entertainment industry loans, small business (SBA) loans, import-export loans, mortgage loans, asset based financing and cash management services. The Bank, which opened for business on March 1, 1999, had total assets exceeding $1 billion as of December 31, 2012. PMB operates a total of seven financial centers in Southern California, four in Orange County located in the cities of Newport Beach, Costa Mesa, La Habra and San Juan Capistrano, one in Los Angeles County in the city of Beverly Hills, one in San Diego County in the city of La Jolla and one in the Inland Empire in San Bernardino County, in the city of Ontario. In addition to the Bank's physical locations, it offers comprehensive banking services over its Internet Bank at www.pmbank.com.
CONTACT: For more information contact Nancy Gray, SEVP & CFO, 714-438-2500 Barbara Palermo, EVP & IR, 714-438-2500
|Phyllis Nomura Joins First Sound Bank As Executive Vice President and Chief Financial Officer ()|
|MetLife Executive Vice President and Head of U.S. Retail to Speak at Keefe Bruyette & Woods 2013 Insurance Conference (2013/9/18)|
|Nancy Laben Joins Booz Allen Hamilton as Executive Vice President and General Counsel (2013/9/4)|
|Leila Rohani Named SVP & Regional Manager of Pacific Mercantile Bank's Newport Beach Financial Center (2013/11/19)|
|Pacific Mercantile Bank Becomes Latest Partner Bank in the U.S. Global Business Solutions Program (2013/8/26)|
|Bank of Virginia Elevates Don Andree to Executive Vice President, Senior Lending Officer (2013/9/16)|
|First Internet Bank Launches Asset-Based Lending Business Line (2013/11/6)|
|Robin Robertson joins Cardinal Bank As Senior Vice President, Assistant Director of Marketing (2013/8/12)|
|Kelly Bell joins Cardinal Bank As Senior Vice President, Retail Banking Manager (2013/9/9)|
|Canadian Pacific announces the appointment of Bart Demosky as Executive Vice-President and Chief Financial Officer (2013/11/29)|
|Start Premium Trial||Register For Free|
|P||F||Fund Financial Data (13,000+ funds)|
|P||F||Stock Financial Data (7,000+ stocks)|
|P||F||Stock and Fund Screeners (basic)|
|P||F||Investing Articles and Market Commentary|
|P||F||Articles Archive (>30 days)|
|P||F||Discuss (dozens of stock, fund, bond, and general bulletin boards)|
|P||F||Portfolio Manager (basic)|
|P||F||Morningstar Investment Classroom|
|P||F||Access Your Portfolio Anytime, Anywhere via Your Mobile Device|
|P||Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)|
|P||Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)|
|P||Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)|
|P||Portfolio Monitor (monthly and on-demand personalized portfolio statements)|
|P||Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)|
|P||Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters|
|P||Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)|
|P||Discounts on Morningstar newsletters, books, seminars, and more|
Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.
Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.