Pacific Mercantile Names Dellerba Vice Chairman, Looking for New President

Pacific Mercantile Bancorp

today announced that Raymond E. Dellerba will assume a new role with the Bank as its Vice Chairman. The move will enable him to focus, as President and CEO of the Company, on the development and implementation of strategic plans to move the Company and the Bank forward to a successful long-term future. On Friday, the Board of Directors of the Bank approved Mr. Dellerba's decision and formed a special committee to identify and hire a new President for the Bank.