Live Breaking News & Updates on பெஸிஃபிக் வணிக வங்கி தி
Stay updated with breaking news from பெஸிஃபிக் வணிக வங்கி தி. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Net Interest Income Q4 2020 vs Q3 2020. Net interest income decreased $1.3 million, or 9.2%, for the three months ended December 31, 2020 as compared to the three months ended September 30, 2020 primarily as a result of: A decrease in interest income of $1.8 million, or 11.1%, primarily attributable to the decrease in the balance of the loan portfolio and an adjustment to the accretion of PPP fee income that resulted in a deferral of income to the next quarter, decreasing the fee income for the three months ended December 31, 2020 as compared to the three months ended September 30, 2020; partially offset by A decrease in interest expense of $465 thousand, or 26.4%, primarily attributable to our ongoing focus on reducing costs of deposits by monitoring and lowering interest rates in response to the current interest rate environment and actively managing our deposit portfolio away from higher costing money market deposits and certificates of deposit and into noni ....
Pacific Mercantile Bank Expands Relationship with Simpson Sandblasting & Special Coatings, Inc. December 22, 2020 08:00 ET | Source: Pacific Mercantile Bancorp Pacific Mercantile Bancorp Costa Mesa, California, UNITED STATES COSTA MESA, Calif., Dec. 22, 2020 (GLOBE NEWSWIRE) Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ: PMBC), today announced that it has provided a $2.45 million credit facility to Simpson Sandblasting & Special Coatings, Inc. (“Simpson Sandblasting”), a company that first became a client of Pacific Mercantile through the Bank’s participation in the Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”). The new credit facility will be utilized to refinance an existing owner-occupied commercial real estate loan, provide a revolving line of credit for working capital/bonding needs, and provide fi ....