Pacific Mercantile Bank Provides $3.5 Million in Financing to Santier
September 29 2017 - 8:00AM
Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary
of Pacific Mercantile Bancorp (NASDAQ:PMBC), today announced that
the Bank’s Asset-Based Lending Group has extended a $3.5 million
credit facility to Santier, a San Diego-based manufacturer.
The credit facility consists of a revolving line of credit and a
term loan for machinery and equipment. In addition to the
financing, Santier utilizes a full suite of Pacific Mercantile
Bank’s depository products and cash management services.
Santier is a world-class manufacturer of engineered Thermal
Management Materials, hermetic and non-hermetic microelectronic
housings, and semiconductor packages. Santier also provides
stand-alone plating services all done in-house in San Diego.
Santier’s products help drive cutting-edge technologies across a
broad array of industries including aerospace, defense, lasers,
photonics, optoelectronics, communications and
telecommunications.
“We chose Pacific Mercantile Bank because they demonstrated the
ability to understand our business and tailor a credit facility
that was specific to our financial needs,” said Warren Bartholomew,
Chief Financial Officer of Santier. “As we execute on our
growth plans, we will utilize the credit facility to invest in our
operations and continue delivering the highest standards of service
and expertise in engineering and manufacturing.”
“We were very impressed with Santier’s extensive list of highly
satisfied customers that has driven its growth and success,” said
Tom Vertin, President and Chief Executive Officer of Pacific
Mercantile Bank. “The combination of credit facilities that
we were able to put together will provide Santier with the
flexibility it needs for its existing business, while supporting
its pursuit of new market opportunities.”
About Pacific Mercantile Bank
Pacific Mercantile Bancorp (NASDAQ:PMBC) is the parent holding
company of Pacific Mercantile Bank, which 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. The Bank is
headquartered in Orange County and operates a total of nine offices
in Southern California, located in Orange, Los Angeles, San Diego,
and San Bernardino counties. The Bank offers tailored flexible
solutions for its clients including an array of loan and deposit
products, sophisticated cash management services, and comprehensive
online banking services accessible at www.pmbank.com.
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.
Pacific Mercantile Bank Contact:Robert
AndersonEVP & Chief Banking Officer714-438-2500
Pacific Mercantile Bancorp (NASDAQ:PMBC)
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