Pacific Mercantile Bancorp
| Company type | Public (until 2021) |
|---|---|
| Industry | Banking |
| Founded | March 1999 |
| Fate | Acquired by Banc of California |
| Headquarters | Costa Mesa , United States |
Pacific Mercantile Bancorp functioned as a bank holding company headquartered in Costa Mesa, California.
History
The institution inaugurated its initial branch in March 1999.[1] Subsequent growth included the launch of a La Habra location in September 2003, followed by the establishment of a Long Beach branch in October 2004.[2][3]
The organization conducted an initial public offering in the year 2000 to enter public markets.[4] By 2005, it strategically withdrew from wholesale mortgage lending to concentrate exclusively on its primary banking services.[5]
Raymond E. Dellerba, who served as the founding chairman and CEO, retired in April 2013.[6] The firm’s expanding footprint was recognized with its inclusion in the Russell 3000 Index as of June 2016.[7]
In October 2021, the entity was acquired by Banc of California, resulting in its removal from Nasdaq trading.[8]
External links
- ↑ Cite error: Invalid
<ref>tag; no text was provided for refs named10K - ↑ "Pacific Mercantile Bank Proudly Announces the Opening of its New La Habra Financial Center" (Press release). Business Wire. September 9, 2003.
- ↑ "Pacific Mercantile Bank is Proud to Announce the Opening of Its New Long Beach Financial Center on Ocean Boulevard" (Press release). Business Wire. October 6, 2004.
- ↑ "Pacific Mercantile Bancorp Plans IPO". Los Angeles Times. Dow Jones & Company. March 29, 2000.
- ↑ "Pacific Mercantile Bank to Exit the Wholesale Mortgage Banking Business". Business Wire. June 27, 2005.
- ↑ "Pacific Mercantile Bancorp Announces Retirement of Founding CEO Raymond E. Dellerba and Appointment of Steven K. Buster as His Successor" (Press release). GlobeNewswire. April 23, 2013.
- ↑ "Pacific Mercantile Bancorp Set to Join Russell 3000 Index" (Press release). GlobeNewswire. June 14, 2016.
- ↑ "Banc of California Announces the Completion of its Acquisition of Pacific Mercantile Bancorp" (Press release). Business Wire. October 18, 2021.