Pacific Mercantile Bancorp Reports Third Quarter 2018 Operating Results
Pacific Mercantile Bancorp (PMBC)
Last pacific mercantile bancorp earnings: 4/30 04:30 pm
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US:NASDAQ Investor Relations:
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Source: GlobeNewswire
Third Quarter Summary Net income of $3.9 million, or $0.17 per shareTotal loans increased $21.9 million from the second quarter of 2018Total new loan commitments of $87.7 million and loan fundings of $69.8 millionCore deposits increased to 75% of total deposits at September 30, 2018 from 73% at June 30, 2018Classified assets decreased by $1.2 million from the second quarter of 2018No provision for loan and lease losses during the three months ended September 30, 2018 COSTA MESA, Calif., Oct. 22, 2018 (GLOBE NEWSWIRE) -- Pacific Mercantile Bancorp (Nasdaq: PMBC), the holding company of Pacific Mercantile Bank (the “Bank”), a wholly owned banking subsidiary, today reported its financial results for the three and nine months ended September 30, 2018. For the third quarter of 2018, the Company reported net income of $3.9 million, or $0.17 per share. This compares to net income of $15.4 million, or $0.65 per share, in the second quarter of 2018, and net income of $3.8 million, or $0.1
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