COSTA MESA, Calif., April 11, 2018 (GLOBE NEWSWIRE) -- Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ:PMBC), today announced that Jim Roby has been hired to lead the Bank’s Small Business Administration (“SBA”) lending. As Senior Vice President, Director of SBA, Mr. Roby will work collaboratively with Pacific Mercantile’s relationship managers to incorporate the full suite of SBA lending products into the Bank’s offerings and help small businesses navigate the difficult road of obtaining financing.
“We are excited to launch our new SBA lending efforts under Jim Roby’s leadership,” said Tom Vertin, President and Chief Executive Officer of Pacific Mercantile Bank. “Building an efficient process for offering SBA financing will provide us with the ability to serve a larger universe of small business customers, while also generating a new source of revenue for the Company through gain on sale of SBA loans. Jim has proven expertise in SBA loan production, and we believe he will build our SBA business into a meaningful contributor to our continued growth in the years ahead.”
Jim Roby has more than three decades of experience in SBA lending. Prior to joining Pacific Mercantile, Mr. Roby was SVP, National Sales Manager for Spectrum Commercial Lending in Irvine, CA where he managed all business development officers for production, training and evaluation including a program to generate income through the referral of SBA loans to other banks. Previously, Mr. Roby was SVP and Managing Director of SBA at Gilmore Bank in Irvine, CA where he started and managed the bank’s SBA lending department until its sale to Grandpoint Capital. Earlier in his career, Mr. Roby spent 27 years at Bank of America where he held a number of senior positions in SBA lending.
Mr. Roby has a Bachelor of Business Administration degree from New York Institute of Technology.
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