COSTA MESA, Calif., Sept. 8, 2014 (GLOBE NEWSWIRE) -- Pacific Mercantile Bank ("the Bank"), the wholly owned subsidiary of Pacific Mercantile Bancorp (Nasdaq:PMBC), today announced that Robert E. Sjogren has been named Executive Vice President and Chief Operating Officer of both the Bank and the holding company, adding responsibilities to his ongoing role as General Counsel. As Chief Operating Officer, Mr. Sjogren will be responsible for strategic planning, facilities management, vendor management, regulatory relations and investor relations, among other duties. Mr. Sjogren joined Pacific Mercantile Bank in October 2013 as Executive Vice President and General Counsel.
"Since joining Pacific Mercantile Bank, Bob has been instrumental in reshaping the Bank into the strong, competitive commercial banking model we now enjoy," said Steve Buster, President and Chief Executive Officer of Pacific Mercantile Bancorp. "His influence and responsibilities have far exceeded his role as General Counsel and he has demonstrated the talent and experience to manage all aspects of our operational functions. Bob's promotion to Chief Operating Officer formalizes his scope of responsibilities, and we look forward to his continued contributions as a highly valued member of our senior management team."
Prior to joining Pacific Mercantile Bank in 2013, Mr. Sjogren served as General Counsel, Corporate Secretary and Chief Risk Officer of Carpenter & Company, a private equity firm that invests in community banks. During Mr. Sjogren's eight years at Carpenter & Company, he also served as Chief Compliance Officer for the Carpenter Community BancFund, its Registered Investment Advisor (RIA) and an affiliated broker/dealer. Prior to joining Carpenter & Company, Mr. Sjogren served as General Counsel, Corporate Secretary and Director of Risk Management for Bank of Orange County in Orange, California. Mr. Sjogren began his legal career in 1998 as an Associate Attorney in the Banking Practice at Nixon Peabody LLP in Irvine, California. Mr. Sjogren began his professional career in 1988 with the Federal Deposit Insurance Corporation. Over the course of his ten years with the FDIC, he was promoted to the position of Senior Bank Examiner and Team Leader.
Mr. Sjogren obtained a Bachelor of Arts degree in Legal Studies from Chapman College in Orange, California, and earned his law degree from Loyola Law School of Los Angeles.
About Pacific Mercantile Bank
Pacific Mercantile Bank 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 through its combination of traditional banking financial centers and comprehensive, sophisticated electronic banking services.
The Bank operates a total of seven financial centers in Southern California, four in Orange County and one each in Los Angeles and San Diego County, and another in the Inland Empire in San Bernardino County. The four Orange County financial centers are located in the cities of Newport Beach, Costa Mesa, La Habra and San Juan Capistrano. The Los Angeles County financial center is located in the city of Beverly Hills. The San Diego financial center is located in La Jolla and the Inland Empire financial center is located in the city of Ontario. In addition, the Bank offers comprehensive online banking services accessible at www.pmbank.com. Pacific Mercantile Bancorp (Nasdaq:PMBC) is the parent holding company of Pacific Mercantile Bank.
Forward-Looking Information
This 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.