Pacific Mercantile Bancorp operates as the holding company for Pacific Mercantile Bank that provides a range of banking services to small and medium-size businesses, professionals, and the general public in Orange, Los Angeles, San Bernardino, and San Diego counties in Southern California. The company’s commercial lending solutions include working capital lines of credit and asset based lending, 7(a) and 504 Small Business Administration loans, commercial real estate loans, growth capital loans, equipment financing, letters of credit, and corporate credit cards. The company’s depository and corporate banking services include cash and treasury management solutions, interest-bearing term deposit accounts, checking accounts, automated clearinghouse (ACH) payment and wire solutions, fraud protection, remote deposit capture, courier services, and online banking. Additionally, the company serves clients operating in the global marketplace through services, including letters of credit and import/export financing. It attracts the majority of its loan and deposit business from various small and middle market companies located in the Southern California region. Loan Products The company offers its customers various loan products, including commercial loans and credit lines, accounts receivable and inventory financing, Small Business Administration guaranteed business loans, and owner-occupied commercial real estate loans. Commercial Loans: The commercial loans that the company offers include short-term secured and unsecured business and commercial loans with maturities ranging from 12 to 24 months, accounts receivable financing for terms of approximately 24 months, equipment loans (which amortize through a period of approximately 7 years), and Small Business Administration guaranteed business loans with terms of approximately 10 years. The company also offers asset-based lending products made to businesses. Commercial Real Estate Loans: The majority of the company’s commercial real estate loans are secured by first trust deeds on nonresidential real property. Business Banking Services The company offers a range of banking and financial services designed to support the needs of its business banking clients. Those services include its online business banking portal allows its clients to conduct online transactions and access account information; features include the abilities to view account balances and activity, including statements; transfer funds between accounts; access to wires, ACH and bill pay capabilities; view check images; setup account alerts; customizable reports and dashboards views; download activity into Intuit QuickBooks and Quicken; collection services, such as remote deposit capture services (PMB xPress Deposit), remittance payments (Lockbox), and incoming ACH and wire reporting and notification; payable services, such as checks, wire transfer and ACH origination, business bill pay service, and business credit cards; and fraud prevention services, such as positive pay, ACH positive pay, and transactional alerts. The company also provides courier and onsite vault services for those clients with cash needs. Investment Securities As of December 31, 2013, the company’s investment portfolio included U.S. treasury securities; mortgage backed securities issued by U.S. agencies; collateralized mortgage obligations issued by non agencies; asset backed security; and mutual funds. Deposit Products As of December 31, 2013, the company’s deposits included noninterest-bearing checking accounts; interest-bearing checking accounts; money market and savings deposits; and certificates of deposit. Dispositions In 2013, the company decided to exit its mortgage banking business. Supervision and Regulation The company is a registered bank holding company subject to regulation under the Bank Holding Company Act of 1956, as amended. Pursuant to the Bank Holding Company Act of 1956, as amended, the company is subject to supervision and periodic examination by, and is required to file periodic reports with, the Board of Governors of the Federal Reserve System. The company is also a bank holding company within the meaning of the California Financial Code. The bank is subject to primary supervision, periodic examination and regulation by the Board of Governors of the Federal Reserve System, which is its primary federal banking regulator, because the bank is a member of the Federal Reserve Bank of San Francisco; and the California Department of Business Oversight, because the bank is a California state chartered bank. The bank is also subject to certain of the regulations promulgated by the Federal Deposit Insurance Corporation, because its deposits are insured by the Federal Deposit Insurance Corporation. The bank is a member of the Federal Home Loan Bank of San Francisco. The bank is subject to fair lending requirements and the evaluation of its small business operations under the Community Reinvestment Act. The company and the bank are subject to a range of federal and state consumer protection laws and regulations prohibiting unfair or fraudulent business practices, untrue or misleading advertising and unfair competition. Those laws and regulations include the Home Ownership and Equity Protection Act of 1994; laws and regulations requiring banks to establish privacy policies which limit the disclosure of nonpublic information about consumers to nonaffiliated third parties; the Fair Credit Reporting Act, as amended by the Fair and Accurate Credit Transactions Act; the Truth in Lending Act; the Equal Credit Opportunity Act; the Fair Housing Act; the Home Mortgage Disclosure Act; the Real Estate Settlement Procedures Act; the National Flood Insurance Act; and the Secure and Fair Enforcement for Mortgage Licensing Act of 2008. History Pacific Mercantile Bancorp was founded in 1998.
pacific mercantile bancorp
(PMBC:Consolidated Issue Listed on NASDAQ Global Select )
949 South Coast Drive
Costa Mesa, CA 92626
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