Pacific Mercantile Bancorp operates as the holding company for Pacific Mercantile Bank that provides a range of banking services to small and medium-size businesses, professionals, and the general public in Orange, Los Angeles, San Bernardino, and San Diego counties of California. The company operates seven full service commercial banking offices (which it refers to as ‘financial centers’) and an online banking branch at www.pmbank.com. The bank has customers who are located in 49 states and the District of Columbia. Loan Products The company offers its customers various loan products, including commercial loans and credit lines, accounts receivable and inventory financing, SBA guaranteed business loans, commercial real estate, residential mortgage loans, and consumer loans. Commercial Loans: The commercial loans that the company offers include short-term secured and unsecured business and commercial loans with maturities ranging from 12 to 24 months, accounts receivable financing for terms of approximately 18 months, equipment and automobile term loans and leases, which amortize through a period of approximately 7 years, and SBA guaranteed business loans with terms of approximately 10 years. Commercial loans, including accounts receivable financing, are made to businesses that have been in operation for approximately three years. The company also offers asset-based lending products. Commercial Real Estate Loans: The majority of the company’s commercial real estate loans are secured by first trust deeds on nonresidential real property. Residential Mortgage Loans – Multi-family: The company makes multi-family residential mortgage loans primarily in Southern California for terms approximately 30 years. Real Estate Construction and Land Development Loans: The company offers real estate construction and land development loans. Consumer Loans: The company offers various loan and credit products to consumers, including personal installment loans, lines of credit, credit cards, and to high net-worth individuals for estate planning based upon cash surrender value life insurance. It designs these products to meet the needs of its customers, and some are made at fixed rates of interest and others at adjustable rates of interest. Business Banking Services The company offers various banking and financial services designed primarily for its business banking customers. Those services include financial management tools and services that include multiple account control, account analysis, transaction security and verification, wire transfers, bill payment, payroll and lock box services, majority of which are available at its Internet Website, www.pmbank.com; and automated clearinghouse origination services, which enable businesses that charge for their services or products on a recurring monthly or other periodic basis, to obtain payment from their customers through an automatic, pre-authorized debit from their customers’ bank accounts anywhere in the United States. Convenience Banking Services The company also offers various services and products that make it convenient to conduct banking transactions with the company, such as online banking services, ATMs, night drop services, courier and armored car services that enable its business customers to order and receive cash without having to travel to its banking offices, and Remote Deposit Capture (PMB Xpress Deposit). Online Banking Services The company’s customers could access its online bank at www.pmbank.com to use financial cash management tools and services; view account balances and account history; transfer funds between accounts; pay bills and order wire transfers of funds; transfer funds from credit lines to deposit accounts; make loan payments; print bank statements; place stop payments; and purchase certificates of deposit. Mortgage Banking Business The company commenced a new mortgage banking business to originate residential real estate mortgage loans that qualify for sale to third-party investors into the secondary mortgage markets. Residential mortgage loans consist of loans secured by single-family residential properties.
pacific mercantile bancorp
949 South Coast Drive
Costa Mesa, CA 92626
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To contact PACIFIC MERCANTILE BANCORP, please visit www.pmbank.com. Company data is provided by Capital IQ. Please use this form to report any data issues.