COSTA MESA, Calif., July 27, 2017 (GLOBE NEWSWIRE) -- Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ:PMBC), today announced that Frank Abraham has been appointed to the position of Executive Vice President and Head of Relationship Banking. Mr. Abraham previously served as Senior Vice President and Interim Regional Manager of Pacific Mercantile Bank’s Beverly Hills Financial Center. As EVP/Head of Relationship Banking, Mr. Abraham will oversee the new business development efforts of the Bank’s commercial banking team, leading the lending teams in the Regional Offices to meet their portfolio expansion goals.
Mr. Abraham’s banking career includes more than 30 years with Bank of America, where he steadily progressed to increased responsibilities in credit, treasury management, global trade and commercial banking. Mr. Abraham completed his tenure at Bank of America as Executive Vice President and West Division Treasury Sales Manager, where he was responsible for delivering multiple sales solutions to commercial clients in the western United States. Earlier in his career at Bank of America, Mr. Abraham served as Executive Vice President in the areas of Trade Sales and Treasury/Trade Strategic Planning, where he was responsible for the execution of strategic initiatives for the Global Cash Management group and delivering trade credit solutions to commercial banking clients operating cross border.
Mr. Abraham has a Bachelor of Arts degree from the University of California, Santa Barbara, has completed the Graduate School of Banking at Stonier Banking School, Rutgers University, and attended the Executive Management Program at the University of California, Los Angeles.
“Frank has a long and successful track record of leading highly productive banking teams and developing commercial banking relationships,” said Tom Vertin, President and Chief Executive Officer of Pacific Mercantile Bank. “We believe his expertise in treasury management and trade credit solutions will strengthen our sales efforts and improve our ability to move up market and attract larger commercial banking clients.”
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.
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.
Pacific Mercantile Bank Contact: Robert Anderson EVP & Chief Banking Officer 714-438-2500
Source:Pacific Mercantile Bank