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July 25, 2014
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Pac Merc Swings to Q3 Profit
Costa Mesa-based Pacific Mercantile Bancorp swung to a profit in the third quarter, reporting net income of $321,000 versus a net loss of $385,000 in the same period a year earlier.
Pac Merc Q2 Profit, Loans Up
Pacific Mercantile Bancorp reported higher year-over-year net income for the second quarter citing higher yield on earning assets.
Pac Merc Adds Directors
Pacific Mercantile Bancorp has added two directors to its board, including the head of Aviation Capital Group Corp., a subsidiary of Newport Beach-based Pacific Life Insurance Co.
Fed Lifts Enforcement Action on Pac Merc
The Federal Reserve Board has terminated its enforcement action with Costa Mesa-based Pacific Mercantile Bancorp.
Pac Merc Narrows Q3 Loss
Costa Mesa-based Pacific Mercantile Bancorp narrowed its third-quarter loss to $693,000, versus a loss of $1.4 million in the same quarter a year earlier.
Pac Merc Swings to Profit in Q2
Costa Mesa-based Pacific Mercantile Bancorp Inc. managed to swing to a profit in the second quarter from the same period a year earlier, notching $4,000 in earnings.