COSTA MESA, Calif. (AP) — Pacific Mercantile Bancorp (PMBC) on Monday reported net income of $3.7 million in its fourth quarter.
The bank, based in Costa Mesa, California, said it had earnings of 16 cents per share.
The bank holding company posted revenue of $16.1 million in the period. Its revenue net of interest expense was $14.8 million, which beat Street forecasts.
For the year, the company reported profit of $8.3 million, or 35 cents per share. Revenue was reported as $58.3 million.
Pacific Mercantile shares have increased 13% since the beginning of the year. The stock has decreased 22% 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
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