COSTA MESA, Calif., March 05, 2018 (GLOBE NEWSWIRE) -- Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ:PMBC), today announced the following leadership changes within its branch network:
- Douglas Spencer, formerly Senior Vice President & Regional Manager of the Bank’s Costa Mesa Office, has been named Senior Vice President & Regional Manager of the Bank’s Century City office
- Chad Kenney has been named Senior Vice President & Regional Manager of the Bank’s Costa Mesa Office
- Lisa Wright has been named Senior Vice President & Regional Manager of the Bank’s San Diego Office
“We are very pleased with the quality of commercial banking talent that we have been able to attract to Pacific Mercantile,” said Tom Vertin, President and Chief Executive Officer of Pacific Mercantile Bank. “Our new regional managers have strong track records of building and leading highly productive commercial banking teams. With their experience and expertise in small business and middle-market banking, we expect to continue having success in building our commercial client base, with a particular focus on the professional services, wholesale, distribution and light manufacturing industries.”
About Douglas Spencer
Mr. Spencer’s banking career spans over 30 years including a decade as President & CEO of Gilmore Bank, a Southern California community bank with $200 million in assets. As CEO of Gilmore Bank, Mr. Spencer quadrupled the size of the institution by guiding the launch of six new profit centers and more than 10 new revenue streams. Earlier positions in the banking industry include serving as President & CEO of Centennial First Financial Services and EVP/Branch Administrator with Pacific Mercantile Bank. Most recently, Mr. Spencer was President & CEO of Diva Limousine, a luxury ground transportation company with operations in Los Angeles and New York.
Mr. Spencer holds a Juris Doctor with a Corporate & Commercial Emphasis and an MBA with a Finance Concentration from the University of Utah, and a Bachelor of Science degree in Business Management and Finance from Brigham Young University.
About Chad Kenney
Mr. Kenney has more than 15 years of banking experience and joins Pacific Mercantile Bank from CenterState Bank in Florida, where he focused on developing commercial banking relationships with middle-market operating companies. Earlier in his banking career, Mr. Kenney held relationship management positions with BB&T and PNC Bank, where he built and managed commercial loan and deposit portfolios consisting of small business and middle-market operating companies.
Mr. Kenney holds an MBA from Missouri State University and a Bachelor of Business Administration degree from Evangel University.
About Lisa Wright
Ms. Wright has more than 25 years of commercial banking experience in the San Diego market. Ms. Wright joins Pacific Mercantile Bank from City National Bank, where she was Regional Sales Manager with responsibility for driving loan and revenue growth for 14 branch offices in San Diego and Nevada. Previously, Ms. Wright was Director of Training and Sales Program Manager for San Diego National Bank, where she developed and implemented the bank’s formal sales program and directed its learning and development department. Earlier in her banking career, Ms. Wright held management positions at Washington Mutual, HomeFed Bank and Bank of America.
Ms. Wright holds a Bachelor of Business Administration degree from National University and a California Real Estate Brokers License.
About Pacific Mercantile Bank
Pacific Mercantile Bancorp (NASDAQ:PMBC) is the parent holding company of Pacific Mercantile Bank, which 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. The Bank is headquartered in Orange County and has seven locations in Southern California, located in Orange, Los Angeles, San Diego, and San Bernardino counties. The Bank offers tailored flexible solutions for its clients including an array of loan and deposit products, sophisticated cash management services, and comprehensive online banking services accessible at www.pmbank.com.
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:
EVP & Chief Banking Officer
Source:Pacific Mercantile Bancorp