COSTA MESA, Calif., Aug. 4, 2014 (GLOBE NEWSWIRE) -- Pacific Mercantile Bank ("the Bank"), the wholly owned subsidiary of Pacific Mercantile Bancorp (Nasdaq:PMBC), today announced that Ross Macdonald has been named Senior Vice President & Regional Manager of the Bank's San Juan Capistrano office. Mr. Macdonald will be leading the Bank's efforts to expand its commercial banking platform in South Orange County.
"Ross is a highly accomplished commercial banker with experience in all of our key lending areas including commercial & industrial, commercial real estate, asset-based lending and small business administration (SBA)," said Tom Vertin, President of Commercial Banking for Pacific Mercantile Bank. "He has built a strong track record of developing high quality relationships with small businesses, which will contribute to the continued growth of our commercial client base."
Mr. Macdonald joins Pacific Mercantile Bank from BB&T, one of the largest financial services holding companies in the United States. Mr. Macdonald served as a Vice President, Senior Commercial Relationship Manager at BB&T from 2007-2014, where he managed a loan portfolio of more than $100 million and was recognized on multiple occasions as one of the top 5% of relationship managers within BB&T. Earlier in his career, Mr. Macdonald held commercial banking positions at Manufacturers Bank and Bank of America, where he focused on developing relationships in the Los Angeles market.
Mr. Macdonald has a Bachelor of Arts degree from the University of California, Los Angeles and an MBA from the Graziadio School of Business and Management at Pepperdine University, and was a Distinguished Graduate from the BB&T Banking School at Wake Forest University.
Kittridge Chamberlain, EVP and Manager of the Bank's Southern Division, said, "I'm very pleased that Ross has joined the Pacific Mercantile Bank team. His talents, experience, and commitment to innovation will serve our clients and our organization very well."
About Pacific Mercantile Bank
Pacific Mercantile Bank opened for business March 1, 1999. The Bank, which is an FDIC insured, California state-chartered bank and a member of the Federal Reserve System, 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 operates a total of seven financial centers in Southern California, four in Orange County and one each in Los Angeles and San Diego County, and another in the Inland Empire in San Bernardino County. The four Orange County financial centers are located in the cities of Newport Beach, Costa Mesa, La Habra and San Juan Capistrano. The Los Angeles County financial center is located in the city of Beverly Hills. The San Diego financial center is located in La Jolla and the Inland Empire financial center is located in the city of Ontario. In addition, the Bank offers comprehensive online banking services accessible at www.pmbank.com. Pacific Mercantile Bancorp (Nasdaq:PMBC) is the parent holding company of Pacific Mercantile Bank.
This news release contains statements regarding our expectations, beliefs and views about our plans to continue to build our loan portfolio and supporting systems and processes. These statements, which constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, can be identified by the fact that they do not relate strictly to historical or current facts. Often, they include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "project," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." These forward-looking statements are subject to numerous risks and uncertainties. Actual results may differ materially from the results discussed in these forward-looking statements because such statements are inherently subject to significant assumptions, risks and uncertainties, many of which are difficult to predict and are generally beyond our control. These risks and uncertainties include, but are not limited to, the following: the impact of interest rates and other external economic factors and competition among financial services providers. We undertake no obligation (and expressly disclaim any such obligation) to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. For additional information concerning factors that could cause actual conditions, events or results to materially differ from those described in the forward-looking statements, please refer to the factors set forth under the headings "Risk Factors" in our most recent Form 10-K and 10-Q reports and to our most recent Form 8-K reports, which are available online at www.sec.gov. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on our results of operations or financial condition.
CONTACT: Robert Sjogren EVP & General Counsel 714-438-2500
Source:Pacific Mercantile Bank