COSTA MESA, Calif., Nov. 24, 2014 (GLOBE NEWSWIRE) -- Pacific Mercantile Bank ("the Bank"), the wholly owned subsidiary of Pacific Mercantile Bancorp (Nasdaq:PMBC), today announced that Robert (Sandy) McKerroll has been promoted to Senior Vice President, Entertainment Industries Division. Mr. McKerroll joined Pacific Mercantile Bank in 2010 as Vice President in the Entertainment Industries Division, where he has been responsible for account management, business development, loan structuring, underwriting and related portfolio management duties for the Bank's clients in the film and television production industry.
"Sandy has been a valuable contributor to the growth of our Entertainment financing business," said Tom Vertin, President of Commercial Banking at Pacific Mercantile Bank. "Sandy has strong relationships in the Entertainment industry and a deep understanding of the financing needs of film and television production companies. He has been highly effective in building Pacific Mercantile's reputation within the Entertainment industry as an experienced and trusted financial partner, and we look forward to his continued contributions to the growth of our Entertainment portfolio."
Sandy McKerroll has more than 20 years of banking experience and has focused on Entertainment financing for more than a decade. In his career, Mr. McKerroll has financed over 75 film and television projects with budgets ranging from $2 million to more than $50 million. Prior to joining Pacific Mercantile Bank, Mr. McKerroll was Vice President, Entertainment Finance for six years at Citibank. Earlier in his career, Mr. McKerroll held relationship management positions at ING Barings, National Bank of Canada, City National Bank and UBS.
Mr. McKerroll has a Bachelor of Science degree in Business Administration from the University of Southern California.
About Pacific Mercantile Bank
Pacific Mercantile Bank opened for business March 1, 1999. The Bank, which is FDIC insured and a member of the Federal Reserve System, provides a wide range of commercial banking services to businesses, business owners and business professionals through its combination of traditional banking financial centers and comprehensive, sophisticated electronic banking services.
The Bank, headquartered in Orange County, operates a total of nine banking offices in Southern California, located in Orange, Los Angeles, San Diego, and San Bernardino counties. 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.