COSTA MESA, Calif., June 6, 2013 (GLOBE NEWSWIRE) -- Pacific Mercantile Bancorp (Nasdaq:PMBC). Pacific Mercantile Bank ("PMB") announced that Webber EMI, a PMB Export-Import ("Ex-Im") Department client, was recently presented the U.S. Department of Commerce's prestigious Export Achievement Award for year 2013. This award is given out on an annual basis to a small business based upon the impact significance of the export product, the complexity of the transaction and the overall benefits to the recipient buyer. The PMB Ex-Im Department assisted Webber EMI in crafting an Ex-Im Bank loan, which enabled and facilitated the sale of vehicle emission test systems to the government of India. These systems will enable the Indian government to monitor emissions of cars, motorcycles, trucks & other vehicles, as currently manufactured in India, and will assist the National government in developing, monitoring and enforcing future air quality regulations for the country.
As a green technology company, Ken Parker, the president and CEO of Webber EMI, stated, "We could not have received this award without the expertise and guidance offered to by us Pete Ramirez and the Export Department of Pacific Mercantile Bank."
Fred Laturperisa, head of the Commercial Service for the Inland Empire for the Department of Commerce, further states that, "Pacific Mercantile Bank has been a great partner with the Department of Commerce in promoting the President of the United States' National Export Initiative to double US exports. We are very proud of Webber EMI's achievements and the assistance of their banker, PMB."
About Pacific Mercantile Bancorp
Pacific Mercantile Bancorp, a publicly traded company with its shares listed on the Nasdaq Stock Market under the trading symbol, "PMBC", is the parent holding company of Pacific Mercantile Bank ("PMB"). PMB is an FDIC insured, California state-chartered bank and a member of the Federal Reserve System, which 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's major product lines include commercial loans, commercial real estate loans, entertainment industry loans, small business (SBA) loans, export-import loans, mortgage loans, asset based financing, deposit products, and treasury and cash management services. The Bank, which opened for business on March 1, 1999, had total assets exceeding $1 billion as of December 31, 2012. PMB operates a total of seven financial centers in Southern California, four in Orange County located in the cities of Newport Beach, Costa Mesa, La Habra and San Juan Capistrano, one in Los Angeles County in the city of Beverly Hills, one in San Diego County in the city of La Jolla and one in the Inland Empire in San Bernardino County, in the city of Ontario. In addition to the Bank's physical locations, it offers comprehensive business and individual banking services over its Internet Bank at www.pmbank.com.
CONTACT: Nancy Gray, SEVP & CFO, 714-438-2500 Barbara Palermo, EVP & IR, 714-438-2500
Source:Pacific Mercantile Bank