– USA, CA – Pacific Mercantile Bancorp (Nasdaq:PMBC), the holding company of Pacific Mercantile Bank, a wholly owned banking subsidiary, today announced the appointment of James F. Deutsch to the board of directors of both Pacific Mercantile Bancorp and Pacific Mercantile Bank.
“We are very pleased to add Jim to our Board of Directors,” said Edward Carpenter, Chairman of the Board of the Company and the Bank. “Jim’s distinguished banking career includes a strong track record in building community bank franchises. We believe his expertise and perspective will be beneficial to our Bank’s continuing efforts to create long-term shareholder value.”
About Jim Deutsch
Mr. Deutsch has more than 40 years of experience in the banking industry and currently is a partner at Patriot Financial Partners, L.P., a private equity firm focused on investing in community banks, thrifts and financial services- related companies throughout the United States. As of September 30, 2018, Patriot Financial Partners held a 15.6% equity interest in Pacific Mercantile Bancorp.
Prior to joining Patriot Financial Partners, Mr. Deutsch was one of the founders and served as the President and CEO of Team Capital Bank, a private institution headquartered in Bethlehem, PA. Under Mr. Deutsch’s leadership, Team Capital grew from a one-office startup community bank at its founding on November 1, 2005 to a $750 million asset bank with 10 offices at the time of Mr. Deutsch’s departure in April 2011. Team Capital’s performance ranked in the top 2% in terms of asset growth of the 330 startup community banks founded in 2005 and 2006. The Company achieved profitability within three years and ultimately returned over 2.5 times original capital to its investors.
Prior to Team Capital, Mr. Deutsch spent 25 years managing various lending groups including community bank lending, regional lending and national lending programs at Commerce Bancorp, Inc., Brown Brothers Harriman and Summit Bancorp. Mr. Deutsch was also responsible for managing and establishing investment banking, corporate finance, syndication and specialty lending groups at Commerce Bancorp.
Mr. Deutsch has served on the boards of many civic and professional organizations during his career including serving as the Chair of The State Theatre, Valley Youth House, The Bethlehem YMCA and the Hugh Moore Historical Parks and Museums. He currently serves on the board of the Minsi Trails Boy Scout Council. Mr. Deutsch received his B.S. degree in Finance and his MBA from Lehigh University.
Mr. Deutsch said, “Pacific Mercantile has built a strong commercial bank that is well positioned in the Southern California market. I look forward to working with the management team and my fellow directors to continue generating profitable growth and to enhancing the value of the franchise.”
About Pacific Mercantile Bancorp
Pacific Mercantile Bancorp 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 seven 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.
For more information : https://www.pmbank.com
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