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 firms, and individuals in Southern California. The company is headquartered in Orange County, California, approximately 40 miles south of Los Angeles, and conducts a commercial banking business in Orange, Los Angeles, San Bernardino and San Diego counties in Southern California. Lending Solutions The company's commercial lending solutions include working capital lines of credit and asset based lending, 7(a) and 504 SBA loans, commercial real estate loans, growth capital loans, equipment financing, letters of credit and corporate credit cards. Additionally, the company serves clients operating in the global marketplace through services, including letters of credit and import/export financing. Commercial Loans: The commercial loans 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 up to 24 months, equipment loans which amortize over a period of up to 7 years, and SBA guaranteed business loans with terms of up to 10 years. The company also offers asset-based lending products made to businesses that are growing rapidly, but cannot internally fund their growth without borrowings. These loans are collateralized by a security interest in all business assets with specific advance rates made against the borrower's accounts receivable and inventory. Commercial Real Estate Loans: The majority of its commercial real estate loans are secured by first trust deeds on nonresidential real property. Loans secured by nonresidential real estate often involve loan balances to single borrowers or groups of related borrowers. Business Banking Services: The company offers an array of banking and financial services designed to support the needs of its business banking clients. Those services include the following: Online business banking portal allows its clients to conduct online transactions and access account information, including the ability to: view account balances and activity, including statements, transfer funds between accounts, access wires, Automated Clearing House (ACH) and bill pay capabilities, view check images, setup account alerts, prepare customizable reports and dashboards views, and download activity into Intuit QuickBooks and Quicken; collection services, such as remote deposit capture services (PMB xPress Deposit), remittance payments (Lockbox), and incoming ACH & wire reporting and notification; payable services such as checks, wire transfer and ACH origination, business bill pay service, and business credit cards; courier and onsite vault services for those clients with cash needs; and fraud prevention services such as Positive Pay, ACH Positive Pay, and transactional alerts. The company’s mobile banking platform allows its clients to conduct transactions and access account information from their mobile device; features include the ability to: view available balances, transactions and transaction details; create one time balance transfers; create bill payments for existing payees; schedule future dated bill payments; cancel scheduled bill payments; view recent payments;, approve wires, ACH, and balance transfer transactions; deposit checks; and find bank locations. Investment Securities As of December 31, 2015, the company’s investment portfolio included residential mortgage backed securities issued by U.S. agencies; residential collateralized mortgage obligations issued by non-agencies; asset backed securities; and mutual funds. Deposit Products The company's depository and corporate banking services include cash and treasury management solutions, interest-bearing term deposit accounts, checking accounts, ACH payment and wire solutions, fraud protection, remote deposit capture, courier services, and online banking. Regulations The company is a registered bank holding company subject to regulation under the Bank Holding Company Act. As the owner of a commercial bank, the company is registered as a bank holding company under the Bank Holding Company Act of 1956, as amended, and as such, its operations are regulated by the Board of Governors of the Federal Reserve System (the Federal Reserve Board or the FRB) and the Federal Reserve Bank of San Francisco (FRBSF) under delegated authority from the FRB. The company is also a bank holding company within the meaning of the California Financial Code. The bank is also a member of the Federal Reserve System and its deposits are insured, to the maximum extent permitted by law, by the Federal Deposit Insurance Corporation (the FDIC). History Pacific Mercantile Bancorp was founded in 1998.
pacific mercantile bancorp
949 South Coast Drive
Costa Mesa, CA 92626
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