Pacific Mercantile Bank Provides $5 Million in Financing to Edition Logistics Management
December 19 2018 - 8:00AM
Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary
of Pacific Mercantile Bancorp (NASDAQ: PMBC), today announced that
it has provided a $5.0 million revolving line of credit to Edition
Logistics Management (“ELM”). In addition to the financing,
Edition Logistics Management utilizes a full suite of Pacific
Mercantile Bank’s depository products and treasury management
services. The company was referred to Pacific Mercantile Bank
by one of its private capital partners, Corbel Capital
Partners.
Edition Logistics Management is the largest independent last
mile trucking company in New England, including
less-than-truckload, parcel delivery and dedicated truckload.
ELM is the transportation and logistics private equity affiliate of
Edition Capital Partners.
“As we have experienced in our previous transactions with
Pacific Mercantile Bank, their team was able to quickly understand
the operating model and provide a fast and efficient closing
process for the new credit line,” said Brian Yoon, Principal at
Corbel Capital Partners. “With the bank financing in place,
Edition Logistics Management will have the ability to continue
expansion into new markets, grow the company, and enhance its value
of all stakeholders.”
“We appreciate the opportunity to work with Corbel Capital
Partners on another transaction for one of their portfolio
companies,” said Rob Parks, Senior Vice President at Pacific
Mercantile Bank. “We have a great deal of experience working
with companies in the transportation and logistics industry and we
look forward to supporting Edition Logistics Management as it
continues to grow in the future.”
For more information about Pacific Mercantile Bank and its
commitment to helping companies succeed, visit www.pmbank.com.
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 has seven locations 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 treasury 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)
Historical Stock Chart
From Aug 2024 to Sep 2024
Pacific Mercantile Bancorp (NASDAQ:PMBC)
Historical Stock Chart
From Sep 2023 to Sep 2024