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Pacific Mercantile Gets Preliminary Approval to Take Part in US Treasury's CPP

Fri, 20 Feb 2009 10:47:00 GMT

Pacific Mercantile Bancorp, the parent holding company of Pacific Mercantile Bank, has received preliminary approval from the US Treasury Department to take part in the Treasury's capital purchase program under the troubled asset relief program.
As a result, the company is eligible to obtain a capital investment of up to $25.5 million from the US Treasury.
The purpose of the capital purchase program (CPP) is to encourage and provide support for US financial institutions to increase the flow of capital and financing to US businesses and consumers in an effort to stimulate the US economy.

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Pacific Mercantile Bancorp Reports Third Quarter 2009 Operating Results

Thu, 12 Nov 2009 19:48:00 GMT

Pacific Mercantile Bancorp (NASDAQ: PMBC) today reported its results of operations for the third quarter and nine months ended September 30, 2009.
The effects of what has become the worst economic recession and credit crisis in the past 80 years continued to adversely affect our results of operations in the third quarter ended September30, 2009, during which we incurred a net loss of $1.9 million, or $0.18 per diluted share, as compared to net income of $354,000, or $0.03 per diluted share, in the same quarter of 2008.
On the other hand, our third quarter 2009 operating results were considerably improved as compared to the second quarter of 2009, when we incurred a net loss of $4.5million, or $0.44 per diluted share.

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Pacific Mercantile Bancorp Commences Private Offering of Convertible Preferred Stock

Tue, 13 Oct 2009 23:50:00 GMT

Pacific Mercantile Bancorp (NASDAQ: PMBC) announced today that it has commenced a private offering, to a limited number of sophisticated investors, of $15.5 million of cumulative preferred shares that will be convertible into shares of common stock of the Company at a conversion price of $7.65 per common share.
The Company said that it intends to use the proceeds for general corporate purposes, including a contribution of capital to Pacific Mercantile Bank, its wholly-owned banking subsidiary, to be used primarily to fund the origination or purchase of interest earning assets, the growth of its banking franchise and its working capital requirements.
The securities to be offered will not be registered under the Securities Act of 1933, as amended, or applicable state securities laws and, therefore, may not be sold absent registration under the Securities Act and applicable state securities laws or available exemptions from registration requirements.

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Pacific Mercantile Bancorp to Present at the KBW 10th Annual Community Bank Investor Conference in New York City

Mon, 20 Jul 2009 13:47:00 GMT

Pacific Mercantile Bancorp (NASDAQ:PMBC), the holding company for Pacific Mercantile Bank, will present at the Keefe, Bruyette & Woods ("KBW") 10th Annual KBW Community Bank Investor Conference in New York, New York.
The conference is being held on Tuesday, July 28th and Wednesday, July 29th, 2009, at the Waldorf-Astoria Hotel in New York City.
Raymond E. Dellerba, the Company's President and Chief Executive Officer, will present on Wednesday, July 29th, 2009, at 11:30 Eastern Time (8:30 A.M. Pacific Time), in the John Jacob Astor Salon.

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Pacific Mercantile Obtains Approval As Title II FHA Lender to Originate FHA Single Family Mortgage Loans

Sat, 18 Apr 2009 04:48:00 GMT

(NASDAQ: PMBC) Raymond E. Dellerba, President and CEO of Pacific Mercantile Bancorp and of its wholly-owned banking subsidiary, Pacific Mercantile Bank, announced today that the Bank has obtained approval from the Federal Housing Administration ("FHA") to originate FHA insured single family mortgages as a Title II FHA Lender.
About Pacific Mercantile Bancorp and Pacific Mercantile Bank
Pacific Mercantile Bancorp is the parent holding company of Pacific Mercantile Bank, which opened for business March 1, 1999.

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Pacific Mercantile Bancorp Announces Decision Not to Accept up to a $25.5 Million Investment Under the U.S. Treasury’s Capital Purchase Program

Wed, 08 Apr 2009 23:30:00 GMT

Pacific Mercantile Bancorp (NASDAQ: PMBC), the holding company for Pacific Mercantile Bank, today announced that it has decided that it will not participate in the U.S. Treasury Department’s TARP Capital Purchase Program. The Company had previously announced that it had received preliminary approval to participate in that Program and obtain a capital investment of up to $25.5 million from the U.S. Treasury.[More...]

Pacific Mercantile Bancorp Reports Fourth Quarter and Fiscal Year 2008 Operating Results

Mon, 23 Mar 2009 19:56:00 GMT

Pacific Mercantile Bancorp (NASDAQ: PMBC) today reported its results of operations for the fourth quarter and fiscal year ended December 31, 2008.[More...]

Pacific Mercantile Bancorp Receives Preliminary Approval to Receive Up to a $25.5 Million Investment Under the U.S. Treasury's Capital Purchase Program

Sat, 21 Feb 2009 03:48:00 GMT

Pacific Mercantile Bancorp (NASDAQ: PMBC), today announced that it has received preliminary approval from the U.S. Treasury Department to take part in the U.S. Treasury's Capital Purchase Program under TARP.
As a result, Pacific Mercantile Bancorp is eligible to obtain a capital investment of up to $25.5 million from the U.S. Treasury.
The purpose of the Capital Purchase Program is to encourage and provide support for U.S. financial institutions to increase the flow of capital and financing to U.S. businesses and consumers in an effort to stimulate the U.S. economy.

[More...]

Pacific Mercantile Bancorp Receives Preliminary Approval to Receive Up to a$25.5Million Investment Under the U.S. Treasury's Capital Purchase Program

Fri, 20 Feb 2009 04:48:00 GMT

Pacific Mercantile Bancorp (NASDAQ: PMBC), today announced that it has received preliminary approval from the U.S. Treasury Department to take part in the U.S. Treasury's Capital Purchase Program under TARP.
As a result, Pacific Mercantile Bancorp is eligible to obtain a capital investment of up to $25.5million from the U.S. Treasury.
The purpose of the Capital Purchase Program is to encourage and provide support for U.S. financial institutions to increase the flow of capital and financing to U.S. businesses and consumers in an effort to stimulate the U.S. economy.

[More...]

Pacific Mercantile Bancorp Receives Preliminary Approval to Receive up to a $25.5 Million Investment under the U.S. Treasury’s Capital Purchase Program

Thu, 19 Feb 2009 23:55:00 GMT

Pacific Mercantile Bancorp (NASDAQ: PMBC), today announced that it has received preliminary approval from the U.S. Treasury Department to take part in the U.S. Treasury’s Capital Purchase Program under TARP. As a result, Pacific Mercantile Bancorp is eligible to obtain a capital investment of up to $25.5 million from the U.S. Treasury.[More...]

Pacific Mercantile Bancorp Reports Net Income of $354,000 in the Third Quarter of 2008

Fri, 07 Nov 2008 02:26:00 GMT

Pacific Mercantile Bancorp (NASDAQ: PMBC) today reported its results of operations for the third quarter and nine months ended September 30, 2008. The Company also reported that its Board of Directors has approved a $2.0 million increase in its existing Share Repurchase Program.[More...]