COSTA MESA, Calif., March 30, 2017 (GLOBE NEWSWIRE) -- Pacific Mercantile Bank ("the Bank"), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ:PMBC), today announced that it has extended a $3 million credit facility to Platinum Roofing to support the continued growth of the company.  In addition to the financing, Platinum Roofing utilizes a full suite of Pacific Mercantile Bank's depository products and cash management services. 

Headquartered in San Jose and with operations throughout California, Platinum Roofing is the preferred commercial roofing company for a growing list of building owners, developers and property managers. With expertise few can match, Platinum Roofing has extensive experience in re-roof, new construction, solar, and service.  Specializing in proprietary, energy efficient solutions, Platinum Roofing supplies professional, cost effective roofs for apartment buildings, shopping centers, warehouses, high rises, and even highly sensitive tenant structures. 

"Having been in the commercial construction industry for more than 30 years, we've had the opportunity to work with many banks," said Sean Marzola, Chief Operating Officer of Platinum Roofing.  "Pacific Mercantile Bank went above and beyond to develop a credit facility that is tailored to the needs of a construction company.  Compared to a number of other banks that competed for the business, PMB really rose to the top.  In addition, the transition of our banking business was as smooth a process as I've ever experienced.  They are extremely responsive and have become a valuable advisor to our company on many levels."

"Platinum Roofing has built a great reputation as a customer-centric company that utilizes the most advanced energy efficient technologies to help its clients reduce energy costs and operate environmentally friendly facilities," said Tom Vertin, President and Chief Executive Officer of Pacific Mercantile Bank.  "We are very pleased to be a partner in their mission to make the world a better place one building at a time."

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.
Pacific Mercantile Bank Contact:Robert AndersonExecutive Vice President714-438-2500

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