Last $6.91 USD
Change Today -0.06 / -0.86%
Volume 2.4K
PMBC On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 2:22 PM 01/29/15 All times are local (Market data is delayed by at least 15 minutes).

pacific mercantile bancorp (PMBC) Snapshot

Open
$7.00
Previous Close
$6.97
Day High
$7.00
Day Low
$6.91
52 Week High
10/6/14 - $7.25
52 Week Low
10/27/14 - $5.48
Market Cap
134.3M
Average Volume 10 Days
19.7K
EPS TTM
$-0.13
Shares Outstanding
19.4M
EX-Date
02/27/08
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for PACIFIC MERCANTILE BANCORP (PMBC)

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pacific mercantile bancorp (PMBC) Details

Pacific Mercantile Bancorp operates as the bank holding company for the Pacific Mercantile Bank that provides commercial banking products and services to small and medium-size businesses, professionals, and general public in Southern California. The company accepts various deposit products, including interest-bearing term deposit accounts and checking accounts. It also offers various loans comprising commercial loans and credit lines, accounts receivable and inventory financing, working capital lines of credit and asset based lending, growth capital loans, equipment financing, small business administration guaranteed business loans, owner-occupied commercial real estate loans, and letters of credit, as well as corporate credit cards. In addition, the company provides cash and treasury management solutions, automated clearinghouse payment and wire solutions, fraud protection, remote deposit capture, courier services, and online banking services. As of April 7, 2014, it had seven financial centers, including four in Orange County and one each in Los Angeles, San Diego Counties, and San Bernardino Counties. The company was founded in 1998 and is based in Costa Mesa, California.

pacific mercantile bancorp (PMBC) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $453.5K
Chairman Emeritus, Chief Executive Officer Em...
Total Annual Compensation: $266.7K
President of Commercial Banking - Pacific Mer...
Total Annual Compensation: $475.0K
Compensation as of Fiscal Year 2013.

pacific mercantile bancorp (PMBC) Key Developments

Pacific Mercantile Bancorp Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

Pacific Mercantile Bancorp reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total interest income of $10,205,000 against $9,285,000 a year ago. Net interest income was $8,681,000 against $8,106,000 a year ago. Net interest income after provision for loan losses was $8,681,000 against $4,751,000 a year ago. Income from continuing operations before income taxes was $337,000 against loss from continuing operations before income taxes of $2,686,000 a year ago. Net income from continuing operations was $377,000 or $0.01 diluted per share against net loss of $9,786,000 or $0.53 diluted per share a year ago. Net income allocable to common shareholders was $139,000 or $0.01 diluted per share against net loss of $15,067,000 or $0.79 diluted per share a year ago. The increase in earnings as compared to the third quarter of 2014 is primarily attributable to a decrease in the provision for loan and lease losses as a result of significant recoveries during the fourth quarter, an increase in net gain on sale of small business administration loans, and a decrease in the carrying costs and other costs associated with real properties acquired by or in lieu of loan foreclosures. Revenue was $10 million, up from $8.7 million in the prior year period. For the year, the company reported total interest income of $38,290,000 against $35,651,000 a year ago. Net interest income was $32,461,000 against $30,334,000 a year ago. Net interest income after provision for loan losses was $30,961,000 against $25,829,000 a year ago. Loss from continuing operations before income taxes was $1,477,000 against $9,324,000 a year ago. Net loss from continuing operations was $1,477,000 or $0.14 diluted per share against $14,934,000 or $0.88 diluted per share a year ago. Net loss allocable to common shareholders was $703,000 or $0.04 diluted per share against $23,298,000 or $1.28 diluted per share a year ago. Tangible book value per share was $5.53 compared to $5.47 a year ago. Tangible book value per share as adjusted was $5.54 compared to $5.50 a year ago.

Pacific Mercantile Bancorp and Pacific Mercantile Bank Appoint Christianssen as the Executive Vice President and Chief Financial Officer

Pacific Mercantile Bancorp has appointed Curt A. Christianssen as the Executive Vice President and Chief Financial Officer of the company and its wholly owned banking subsidiary, Pacific Mercantile Bank. Mr. Christianssen had been serving as Chief Financial Officer on an interim basis since December 2013. Mr. Christianssen will retain his role as Executive Vice President and Chief Financial Officer of the Carpenter Community BancFund, that commenced in 1999.

Pacific Mercantile Bancorp Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Pacific Mercantile Bancorp announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total interest income of $9,664,000 compared to $8,877,000 a year ago. Net interest income was $8,311,000 compared to $7,687,000 a year ago. Loss from continuing operations before income taxes was $314,000 compared to $96,000 a year ago. Net loss from continuing operations was $314,000 or $0.03 per basic and diluted share compared to $96,000 or $0.02 per basic and diluted share a year ago. Net loss allocable to common shareholders was $693,000 or $0.04 per basic and diluted share compared to $1,375,000 or $0.07 per basic and diluted share a year ago. Negative return on average assets was 0.03% compared to 0.01% a year ago. Negative return on average equity was 0.27% compared to 0.08% a year ago. The decline in earnings as compared to the second quarter of 2014 is primarily attributable to a loss on the sale of real properties acquired by or in lieu of loan foreclosures (commonly referred to as other real estate owned or OREO) and a loss from discontinued operations related to the final wind down of mortgage banking business, partially offset by a decrease in the provision for loan and lease losses and an increase in interest income. Net interest income increased $624,000 or 8.1%, for the three months ended September 30, 2014 as compared to the three months ended September 30, 2013, primarily as a result of the increase in interest income, partially offset by the increase in interest expenses. For the nine months, the company reported total interest income of $28,085,000 compared to $26,359,000 a year ago. Net interest income was $23,780,000 compared to $22,222,000 a year ago. Loss from continuing operations before income taxes was $1,815,000 compared to $6,541,000 a year ago. Net loss from continuing operations was $1,815,000 or $0.14 per basic and diluted share compared to $5,051,000 or $0.32 per basic and diluted share a year ago. Net loss allocable to common shareholders was $842,000 or $0.04 per basic and diluted share compared to $8,224,000 or $0.45 per basic and diluted share a year ago. Negative return on average assets was 0.18% compared to 0.53% a year ago. Negative return on average equity was 1.56% compared to 4.28% a year ago. Net interest income increased $1.6 million, or 7.0%, for the nine months ended September 30, 2014 as compared to the nine months ended September 30, 2013, primarily as a result of an increase in interest income of $1.7 million, or 6.5%, attributable to an increase in interest earned on loans as a result of a higher average loan balance during the nine months ended September 30, 2014 as compared to the nine months ended September 30, 2013.

 

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Industry Analysis

PMBC

Industry Average

Valuation PMBC Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 3.8x
Price/Book 1.1x
Price/Cash Flow 294.5x
TEV/Sales NM Not Meaningful
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