PMBC Announces the Inclusion of the Company in the Russell 2000 Index (6/25/12)
COSTA MESA, Calif., June 25, 2012 (GLOBE NEWSWIRE) -- Pacific Mercantile Bancorp (Nasdaq:PMBC). Raymond E. Dellerba, President and CEO of Pacific Mercantile Bancorp (the "Company"), announced today that the Company had met the criteria for inclusion in the Russell 2000 Index. The Russell Index was launched in 1984 to objectively track equity performance and reflect investment manager behavior. The Russell 2000 measures small cap securities' performance with an unbiased view. The Index is reconstituted yearly to make certain that large cap stocks don't distort the performance of the small cap segment. "We are proud to be a member once again of the prestigious Russell 2000 index and thank our investors and shareholders for their continued support of our stock and our Company," stated President Dellerba.
About Pacific Mercantile Bancorp
Pacific Mercantile Bancorp, which is a publicly traded company with its shares listed on the Nasdaq Stock Market under the trading symbol, "PMBC", is the parent holding company of Pacific Mercantile Bank. The Bank is an FDIC insured, California state-chartered bank and a member of the Federal Reserve System which 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, which opened for business on March 1, 1999, had total assets exceeding $1 billion as of September 30, 2011.
The Bank operates a total of seven financial centers in Southern California, four of which are located in Orange County, one of which is located in Los Angeles County, one of which is located in San Diego County and the other of which is located in the Inland Empire in San Bernardino County. The four Orange County financial centers are located, respectively, in the cities of Newport Beach, Costa Mesa (which is visible from the 405 and 73 Freeways), La Habra and San Juan Capistrano (which is our South County financial center that is visible from the Interstate 5 Freeway). Our financial center in Los Angeles County is located in the city of Beverly Hills. Our San Diego financial center is located in La Jolla and our Inland Empire financial center is located in the city of Ontario, visible from the Interstate 10 Freeway. In addition to the Bank's physical locations, it offers comprehensive banking services over its Internet Bank, which is accessible 24/7 worldwide at www.pmbank.com.
Nancy Gray, SEVP & CFO, 714-438-2500
Barbara Palermo, EVP & IR, 714-438-2500 http://globenewswire.com/newsroom/news.html?d=260240