Orange County Business Journal

Carpenter New Chair of PacMerc

Jane Yu Tuesday, May 22, 2012

Costa Mesa-based Pacific Mercantile Bancorp Inc. has tapped three outside executives to join the company’s 11-member board of directors, including two from Irvine-based advisory firm Carpenter & Co.

The parent company of Pacific Mercantile Bank has named Ed Carpenter chairman of the board. The position became vacant after the death of former Chairman George Wells, announced earlier this month.

Carpenter is chief executive of Carpenter & Co. and a managing partner of its private equity arm, Carpenter Community BancFund.

The fund recently bought about 4.2 million shares of Pacific Mercantile’s common stock, becoming the largest shareholder with a 26% stake.

Carpenter & Co. President and Chief Operating Officer John Flemming also joined the board. He’s a managing partner of Carpenter Community.

Pacific Mercantile also named Michael Hoopis to the board, with a seat on the audit committee. Hoopis is president and chief executive of Anaheim-based Targus Group International Inc., a manufacturer of cases and accessories for laptops and tablets.

Hoopis previously held executive positions at several other companies, including Lake Forest-based Price Pfister Inc. and Kwikset Corp. as part of Black & Decker, and Fort Collins, Co.-based Water Pik Technologies Inc., which he took public in 1999.