Pacific Mercantile Bancorp (PMBC) 2008年年度报告「NASDAQ」.pdf

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1、40550:5 A N N U A L R E P D R T A N D 1DK ZOOS il Filings Services APR 2 8 2009 SNL Financial,LC 1-800-969-4121 PACIFIC MERCANTILE BANK I PACIFIC MERCANTILE BANK REMAINS THE SOLID BANKING SOLUTION FOR ALL YOUR BUSINESS NEEDS-NEWPORT BEACH 949-467-22DD CDSTA MESA 7 14-43S-Z6DD LOS ANGELES COUNTY INLA

2、ND ORANGE COUNTY BEVERLY HILLS 3 1D-B6D-3DDD LONB BEACH 5 6 2-9 8 3-5 4 0 0 fiP SAN JUAN CAPISTRANO 9 4 9-4 8 7-4 2 0 0 LA HABRA 562-690-7 100 P A C I F I C M E R C A N T I L E B C D R P D R A T E H E A D Q U A R T E R S 9 4 9 S O U T H C O A S T D R I V E T H I R D F L O O R C O S T A M E S A,CA 9

3、2 6 2 6 P H O N E 7 1 4-4 3 3-2 5 0 0 DIEGO c o u NTY ONTARIO 909-937-7260 r i i p i m if LA JOLLA 858-320-8400 /A Ls I r I LJ MERCANTILE BANK M e m b e r W W W.P M B A N K.C D M B 7 V-4 5 a-B A N K(B V 7-4 5 D-Z 2 S 5)N A S D A C -P M B C t=J Message from the President:Pacific Mercantile Bank again

4、 grew its total loan portfolio last year.However,due to the troubled economy,the Bank sustained its first yearly loss since its first year ofoperations in 1999.This was the result of the downward spiraling economy and a worsening recession that resulted in the instability of the credit markets and w

5、hich,to a degree,were influenced by the reductions in the interest rates the Federal Reserve implemented to stem the tide of the deteriorating conditions.No one anticipated the depths the present recession would reach.These economic conditions and the weakened credit markets caused a number of real

6、estate loan defaults and late payments by our borrowers who previously had been meeting their loan payment obligations.This decline in the businesses of some of our borrowers also resulted in an increased risk to our loan portfolio.Thus,in 2008 we were forced to take loan charge offs and substantial