COSTA MESA, Calif., Dec. 22, 2015 (GLOBE NEWSWIRE) -- Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ:PMBC), today announced that Arnold Coggeshall has been named Senior Vice President & Regional Manager of the Bank’s Beverly Hills office. Mr. Coggeshall will lead the Bank’s efforts to expand its commercial banking presence in the Los Angeles area.
“Arnold has had a highly productive banking career, including running his own senior debt-placement firm for nearly 20 years,” said Tom Vertin, President of Commercial Banking for Pacific Mercantile Bank. “Arnold understands the needs of the small- and middle-market businesses that we target and has a proven ability to develop new client relationships through networking and community involvement. We have a lot of opportunities to expand our customer base in the Los Angeles area and Arnold is well suited to raise the level of awareness for Pacific Mercantile and the unique value proposition we offer.”
Mr. Coggeshall has more than 30 years of commercial banking experience, including 18 years as the Founder and President of Vortex Financial, a senior debt-placement and bank consulting firm focused on serving small- and middle-market industrial companies. Prior to joining Pacific Mercantile Bank, Mr. Coggeshall was Senior Vice President, Senior Relationship Manager for Grandpoint Bank. Earlier in his career, Mr. Coggeshall was Executive Vice President and Chief Credit Officer for Merchants Bank of California, and also served on the bank’s board of directors.
Kittridge Chamberlain, EVP and Head of Relationship Banking, said, “I’m pleased to welcome Arnold to the Pacific Mercantile Bank team. Arnold has the entrepreneurial drive and relationship-building skills to help increase our presence in the Los Angeles area.”
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 offices and comprehensive, sophisticated electronic banking services.
The Bank, headquartered in Orange County, operates a total of nine 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.