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Pacific Mercantile Bank Announces Senior Management Promotions

COSTA MESA, Calif., Feb. 26, 2016 (GLOBE NEWSWIRE) -- Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ:PMBC), is pleased to announce the following promotions within its senior management team:

  • Kittridge Chamberlain has been promoted to EVP & Chief Banking Officer. Ms. Chamberlain joined Pacific Mercantile Bank in 2012 and has helped build the commercial banking platform, most recently as Head of Relationship Banking. In her new role as Chief Banking Officer, Ms. Chamberlain will be responsible for commercial banking activities in the Bank’s seven regional offices as well as the Bank’s marketing programs.
  • Robert Anderson has been promoted to EVP & Head of Product and Market Development. Mr. Anderson joined Pacific Mercantile Bank in 2013 and has been responsible for building the Bank’s Asset-Based Lending (ABL) department. In his new role, Mr. Anderson will continue to be responsible for the ABL department, while also overseeing the Entertainment Industries Division and the Bank’s Cash Management group. Additionally, he will be pursuing growth opportunities through the development of new products and services and the entrance into new markets.
  • Tom Wagner has been promoted to EVP & Chief Strategy Officer. Mr. Wagner joined Pacific Mercantile Bank in 2013 and has developed the Bank’s highly productive Horizon Analytics practice, a unique value-added commercial banking service that helps companies plan and manage growth to maximize corporate value. In his new role, Mr. Wagner broadens his influence by designing new ways to serve the Company’s target markets and to further differentiate Pacific Mercantile Bank from competitor banks.
  • Curtis Birkmann has been promoted to EVP & Chief Technology Officer. Mr. Birkmann joined Pacific Mercantile Bank in August 2015 as Deputy Chief Technology Officer after having served as Chief Information Officer at Bank of Manhattan for five years.

“The promotions announced today will give more responsibility to members of our team who have consistently demonstrated strong leadership, strategic thinking and a passion for building our commercial banking franchise,” said Tom Vertin, President and Chief Executive Officer of Pacific Mercantile Bank. “The Chief Banking Officer, Head of Product and Market Development, and Chief Strategy Officer are responsible for leading our revenue growth, and I’m confident in the abilities of Kittridge, Robert and Tom to succeed in these roles. I am looking forward to working closely with them to accelerate the development of our consultative-approach to commercial banking, further leverage the strengths that differentiate Pacific Mercantile Bank in our markets, and enhance our overall business development efforts.”

About Pacific Mercantile Bank

Pacific Mercantile Bank opened for business March 1, 1999. The Bank, which is FDIC insured and a member of the Federal Reserve System, provides a wide range of commercial banking services to businesses, business owners and business professionals through its combination of traditional banking offices and comprehensive, sophisticated electronic banking services.

The Bank, headquartered in Orange County, operates a total of nine offices in Southern California, located in Orange, Los Angeles, San Diego, and San Bernardino counties. 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.

Forward-Looking Information

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: Kittridge Chamberlain EVP & Chief Banking Officer 714-438-2500

Source:Pacific Mercantile Bank