Pacific Mercantile Bancorp Appoints Denis Kalscheur as Chairman of the Board of Directors

COSTA MESA, Calif., May 21, 2020 (GLOBE NEWSWIRE) -- Pacific Mercantile Bancorp (Nasdaq: PMBC, the “Company”), the holding company of Pacific Mercantile Bank (the “Bank”), a wholly owned banking subsidiary, today announced the appointment of Denis P. Kalscheur as Chairman of the Board of Directors of Pacific Mercantile Bancorp and the Bank.  Mr. Kalscheur succeeds Edward J. Carpenter, who retired from the Company’s Board of Directors after having served as Chairman since 2012.

Mr. Kalscheur has been a member of the Company’s Board of Directors since February 2015 and has served on the Audit Committee, the Credit Policy Committee, the Human Resources and Compensation Committee, and the Nominating and Governance Committee.  Mr. Kalscheur will continue to serve on an interim basis as the Chairman of the Audit Committee. 

“On behalf of the entire Board of Directors, we would like to thank Ed Carpenter for his many years of board leadership and significant contributions to the Company,” said Mr. Kalscheur.  “I am honored to succeed Ed as Chairman of the Board and help guide Pacific Mercantile Bancorp in the coming years.  We have continued to build a strong, diverse Board over the past several years that brings valuable insight, new perspectives, and exceptional experience across a variety of industries.  We look forward to working with our senior management team to build the Pacific Mercantile franchise and create value for our shareholders.”

About Denis Kalscheur

Since April 2020, Mr. Kalscheur has served as an advisory director for the Board of Directors of ORIX Corporation USA, the wholly-owned privately held subsidiary of ORIX Corporation, including serving as Chairman of its Audit Committee. From January 2017 to November 2018, he served as a member of the Board of Directors for Avolon Holdings Limited, the third largest commercial jet aircraft leasing company in the world. From January 2016 to January 2017, Mr. Kalscheur served as Vice Chairman of Aviation Capital Group (“ACG”), a global commercial jet aircraft leasing firm and wholly-owned subsidiary of Pacific Life, a Fortune 500 life insurance enterprise. He served as ACG’s CEO and a member of ACG's Board of Directors from January 2013 to December 2016.