Forward-Looking InformationThis 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 AndersonEVP & Chief Banking Officer714-438-2500
COSTA MESA, Calif., Sept. 29, 2017 (GLOBE NEWSWIRE) -- Pacific Mercantile Bank ("the Bank"), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ:PMBC), today announced that the Bank's Asset-Based Lending Group has extended a $3.5 million credit facility to Santier, a San Diego-based manufacturer. The credit facility consists of a revolving line of credit and a term loan for machinery and equipment. In addition to the financing, Santier utilizes a full suite of Pacific Mercantile Bank's depository products and cash management services. Santier is a world-class manufacturer of engineered Thermal Management Materials, hermetic and non-hermetic microelectronic housings, and semiconductor packages. Santier also provides stand-alone plating services all done in-house in San Diego. Santier's products help drive cutting-edge technologies across a broad array of industries including aerospace, defense, lasers, photonics, optoelectronics, communications and telecommunications. "We chose Pacific Mercantile Bank because they demonstrated the ability to understand our business and tailor a credit facility that was specific to our financial needs," said Warren Bartholomew, Chief Financial Officer of Santier. "As we execute on our growth plans, we will utilize the credit facility to invest in our operations and continue delivering the highest standards of service and expertise in engineering and manufacturing." "We were very impressed with Santier's extensive list of highly satisfied customers that has driven its growth and success," said Tom Vertin, President and Chief Executive Officer of Pacific Mercantile Bank. "The combination of credit facilities that we were able to put together will provide Santier with the flexibility it needs for its existing business, while supporting its pursuit of new market opportunities." 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 operates a total of nine offices 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.