Pacific Mercantile Bank is headquartered in Costa Mesa and is the 53rd largest bank in the state of California. It is also the 641st largest bank in the nation. It was established in 1999 and as of March of 2014, it had grown to 178 employees at 10 locations. Pacific Mercantile Bank has a B+ health rating.
Pacific Mercantile in Costa Mesa is the epidomy of greed, dishonesty, and corruption. They will look into your portfolio and if there is money there, they will wait untill you are deep into the loan and suddenly come up with unexpected fees and cost, knowing its very hard to back out.
This all comes under the umbrella that each loan is on a case by case basis. The outright dishonesty is uphaling. You can get away with it once or twice but these deceptive practices will catch up with them, hopefull in court where it will matter.
My wife and I are currently working with the Loan Officer Tanvir Karim purchase a new home. He has been extemely professional and attentive to detail. I do not know the circumstancdes of the other review posted. However, my experience with Pacific Mercantile Bank has been a breath of fresh air compared to our last experience with another lending institution trying to put together a simular loan. 5 stars earned excellent service. Gary and Darilyn Gray
We have been stuck in Hotels and now renting our own home from the sellers while we wait for this hopeless institution to figure out how to prepare documents!! They confirm there is nothing holding up the closing, but they just cant seem to produce any results. What a nightmare!!!
Homeless in Texas
I moved and changed addresses in Ontario branch in Jan, 2012, but there is still mail being sent to my old address with SSN fully printed in June, 2012. When I try to call the bank to stop sending mail to old address, they said it's impossible. Today is Thursday and I still have not heard back from the branch or the information security officer. The next step is to file a complaint to the regulator or homeland security office.
This bank is crazy! I can't believe they are even in business! My husband and I were promised an approval two weeks ago on our home loan and now we are up against losing our dream home if these people don't pull through for us. I have never felt more helpless in my LIFE! If you can, stay AWAY! Save yourself some time and work with a bank that really cares about the American dream.
I have several CD's with Pacific Mercantile. Although their rates are not always the highest, they are consistently competitive, and -- best of all -- they keep the same rates for a long time. No changing from week to week or day to day.
Customer service at the Costa Mesa branch is tops. Everyone is polite, careful, and thorough. Fashion Island branch is not quite so good. Also, statements from the Fashion Island branch take longer to arrive.
The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Pacific Mercantile Bank had $17.95 million in non-current loans and owned real-estate with $125.48 million in equity and loan loss allowances on hand to cover it. This gives Pacific Mercantile Bank a Texas Ratio of 14.30% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Pacific Mercantile Bank experienced no significant changes from 14.99% as of March 31, 2013 to 14.30% as of March 31, 2014, resulting in a positive change of 4.58%.This indicates that the balance sheet and financial strength for Pacific Mercantile Bank has had no significant changes in recent periods.
In the past year, Pacific Mercantile Bank has increased its total deposits by $27.73 million, resulting in 3.34% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Pacific Mercantile Bank has shown is excellent.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Pacific Mercantile Bank has $1.04 billion in assets with $125.48 million in equity, resulting in a capitalization level of 12.06%, which is excellent.
|FDIC Certificate #||34940|
|Assets and Liabilities|
|Equity Capital||$113.54 million|
|Loan Loss Allowance||$11.94 million|
|Unbacked Noncurrent Loans||$5.65 million|
|Real Estate Owned||$12.30 million|
|Historic Data - March 2013|
|Equity Capital||$128.46 million|
|Loan Loss Allowance||$11.02 million|
|Unbacked Noncurrent Loans||$5.65 million|
|Real Estate Owned||$13.25 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.31%|
|Return on Assets||0.41%|
|Return on Equity||3.67%|
|Interest Income||$9.14 million|
Always verify rates and promotions with the bank or credit union. We are not Pacific Mercantile Bank, we are a rate comparison website and can not provide official rates or promotions.
|0.05%||$250||-||Personal Net Image Savings Account|
|0.05%||$250||-||Business Basic Savings|
|0.41%||$1m||-||Personal High Performance Money Market Savings Account|
|0.41%||$1m||-||Business High Performance Money Market Savings Account|
|0.30%||$1m||-||Personal High Performance Money Market Checking Account|
|0.30%||$1m||-||Business High Performance Money Market Checking Account|
|0.15%||$100k||-||Personal Basic Money Market Account|
|0.15%||$100k||-||Business Basic Money Market Account|
|0.05%||$1,500||-||Personal Net Image Interest Checking Account|
|0.05%||$5k||-||Business Interest Checking|
|0.05%||$4k||-||Attorney/Client Trust (IOLTA)|
|1.03%||$100k||-||5 Year Personal Jumbo CD|
|1.03%||$100k||-||5 Year Business Jumbo CD|
|1.01%||$100k||-||3 Year Personal Jumbo CD|
|1.01%||$100k||-||3 Year Business Jumbo CD|
|0.97%||$1k||-||5 Year Personal CD|
|0.97%||$1k||-||5 Year Business CD|
|0.96%||$100k||-||2 Year Personal Jumbo CD|
|0.96%||$100k||-||2 Year Business Jumbo CD|
|0.95%||$1k||-||3 Year Personal CD|
|0.95%||$1k||-||3 Year Business CD|
|0.93%||$1k||-||2 Year Personal CD|
|0.93%||$1k||-||2 Year Business CD|
|0.82%||$100k||-||365 Day Personal Jumbo CD|
|0.82%||$100k||-||365 Day Business Jumbo CD|
|0.79%||$1k||-||365 Day Personal CD|
|0.79%||$1k||-||365 Day Business CD|
|0.58%||$100k||-||180 Day Personal Jumbo CD|
|0.58%||$100k||-||270 Day Personal Jumbo CD|
|0.58%||$100k||-||180 Day Business Jumbo CD|
|0.58%||$100k||-||270 Day Business Jumbo CD|
|0.55%||$1k||-||180 Day Personal CD|
|0.55%||$1k||-||270 Day Personal CD|
|0.55%||$1k||-||180 Day Business CD|
|0.55%||$1k||-||270 Day Business CD|
|0.42%||$100k||-||90 Day Personal Jumbo CD|
|0.42%||$100k||-||120 Day Personal Jumbo CD|
|0.42%||$100k||-||90 Day Business Jumbo CD|
|0.42%||$100k||-||120 Day Business Jumbo CD|
|0.39%||$1k||-||90 Day Personal CD|
|0.39%||$1k||-||120 Day Personal CD|
|0.39%||$1k||-||90 Day Business CD|
|0.39%||$1k||-||120 Day Business CD|
|0.39%||$100k||-||150 Day Personal Jumbo CD|
|0.39%||$100k||-||150 Day Business Jumbo CD|
|0.36%||$1k||-||150 Day Personal CD|
|0.36%||$1k||-||150 Day Business CD|
|0.11%||$100k||-||60 Day Personal Jumbo CD|
|0.11%||$100k||-||60 Day Business Jumbo CD|
|0.09%||$100k||-||14 Day Personal Jumbo CD|
|0.09%||$100k||-||30 Day Personal Jumbo CD|
|0.09%||$100k||-||14 Day Business Jumbo CD|
|0.09%||$100k||-||30 Day Business Jumbo CD|
|0.06%||$1k||-||14 Day Personal CD|
|0.06%||$1k||-||30 Day Personal CD|
|0.06%||$1k||-||60 Day Personal CD|
|0.06%||$1k||-||14 Day Business CD|
|0.06%||$1k||-||30 Day Business CD|
|0.06%||$1k||-||60 Day Business CD|
|0.97%||$7,500||-||5 Year IRA|
|0.95%||$2,500||-||3 Year IRA|
|0.93%||$7,500||-||2 Year IRA|
|0.79%||$2,500||-||1 Year IRA|
|Pacific Mercantile Bank Locations|
|LA Habra Branch||1530 West Whittier Blvd.ste B||LA Habra, CA 90631|
|San Juan Capistrano Branch||31601 Avenida Los Cerritos Ste 100||San Juan Capistrano, CA 92675|
|Ontario Branch||3257 Guasti Road Suite 110||Ontario, CA 91761|
|LA Jolla Branch||4225 Executive Square Ste. 150||LA Jolla, CA 92037|
|Newport Beach Branch||450 Newport Center Drive, Suite 100||Newport Beach, CA 92660|
|Internet Banking Branch||949 South Coast Dr, 3rd Fl.||Costa Mesa, CA 92626|
|Costa Mesa Branch||949 South Coast Dr., Ste 105||Costa Mesa, CA 92626|
|Pacific Mercantile Bank||949 South Coast Drive, 3rd. Floor||Costa Mesa, CA 92626|
|Beverly Hills Branch||9720 Wilshire Boulevard, Suite 100||Beverly Hills, CA 90212|