Pacific Mercantile Bank is headquartered in Costa Mesa and is the 54th largest bank in the state of California. It is also the 669th largest bank in the nation. It was established in 1999 and as of June of 2016, it had grown to 158 employees at 9 locations. Pacific Mercantile Bank has an A+ health rating.
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
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.
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.
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.
|FDIC Certificate #||34940|
|Return on Assets - YTD||-0.75%|
|Return on Equity - YTD||-6.08%|
|Annual Interest Income||$19.8MM|
|Assets and Liabilities|
|Assets||Q2 2016vs Q2 2015||$1.08B$1.04B|
|Loans||Q2 2016vs Q2 2015||$857.7MM$819.2MM|
|Deposits||Q2 2016vs Q2 2015||$939.4MM$886.8MM|
|Equity Capital||Q2 2016vs Q2 2015||$129.8MM$118.7MM|
|Loan Loss Allowance||Q2 2016vs Q2 2015||$13.4MM$12.3MM|
|Unbacked Noncurrent Loans||Q2 2016vs Q2 2015||$13.3MM$18.9MM|
|Real Estate Owned||Q2 2016vs Q2 2015||$0$0|
Sorry, we do not have rate data for Pacific Mercantile Bank.
|Pacific Mercantile Bank Locations|
|LA Habra Branch||1530 West Whittier Blvd.ste B||LA Habra, CA 90631|
|Ontario Branch||3257 Guasti Road Suite 110||Ontario, CA 91761|
|Newport Beach Branch||450 Newport Center Drive, Suite 100||Newport Beach, CA 92660|
|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|