Pacific Mercantile Bancorp (PMBC) 2017年年度报告「NASDAQ」.pdf

1、CORPORATEHEADQUARTERS949 South Coast DriveThird FloorCosta MesaCalifornia92626To Our Shareholders:We are pleased to present our 2017 financial results.In 2017,our efforts resulted in strong commercial loan growth,an improved net interest margin,more efficiency,and improved asset quality.These positi

2、ve trends drove a significant increase in our profitability over the prior year,as we generated$10.4 million in net income,or$0.45 per diluted share.Progress Check on Strategic PrioritiesOur performance reflects the significant progress we made on a number of strategic initiatives:In 2016,we impleme

3、nted a new approach to credit administration led by our new Chief Credit Officer with the goal of building a strong risk mitigation infrastructure.The new approach resulted in improved asset quality,while also creating a more efficient underwriting and approval process that has supported and acceler

4、ated our business development efforts.We are expanding Horizon Analytics,our consultative approach to client acquisition,which serves as a key differentiator from our commercial bank competitors.When we present Horizon Analytics to a prospective client,we win the business more often than not.We beli

5、eve the value we provide through Horizon Analytics was a key factor in helping us to grow our commercial loan portfolio by 18%in 2017.We are improving operating leverage by generating more revenue while maintaining tight expense control.One key factor in improving our efficiency is the optimization

6、of our branch network.Over the past two years,we have converted a number of our branches into more efficient loan production offices,which has enabled us to reduce our occupancy expense,move more staff into production roles,and increase the number of operating companies we can engage.Improving the D