Pacific Mercantile: 4Q Earnings Snapshot

Associated Press
Updated

COSTA MESA, Calif. (AP) _ Pacific Mercantile Bancorp (PMBC) on Monday reported fourth-quarter net income of $440,000.

The Costa Mesa, California-based bank said it had earnings of 2 cents per share.

The bank holding company posted revenue of $17.6 million in the period. Its revenue net of interest expense was $13.9 million, topping Street forecasts.

For the year, the company reported profit of $5.7 million, or 24 cents per share. Revenue was reported as $55.1 million.

Pacific Mercantile shares have declined 11% since the beginning of the year. The stock has fallen 10% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PMBC at https://www.zacks.com/ap/PMBC