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 Anne McCallion to the board of directors of both Pacific Mercantile Bancorp and Pacific Mercantile Bank.

Ms. McCallion has nearly 30 years of experience in the financial services industry, with a focus in the areas of finance and operations. Ms. McCallion has served on the board of PennyMac Financial Services, Inc. (NYSE: PFSI, “PennyMac”) since 2018. She served as PennyMac’s Chief Enterprise Operations Officer from 2017 to 2019 and prior to that served as its Chief Financial Officer from 2009 to 2016, holding similar positions at PennyMac Mortgage Investment Trust, (NYSE: PMT). Prior to joining PennyMac, Ms. McCallion served for over 17 years at Bank of America/Countrywide Financial (“BofA”) where she held various finance and operations positions.

“We are very pleased to add Anne to our Board of Directors,” said Denis Kalscheur, Chairman of the Board of the Company and the Bank. “Anne’s career as a public company executive and board member includes a strong financial and operational background within the financial services industry. We believe her expertise and perspective will be beneficial to our Bank’s continuing efforts to create long-term shareholder value.”

Ms. McCallion said, “Pacific Mercantile has built a commercial bank that is focused on helping Southern California midsized businesses succeed through their consultative approach with their clients. I look forward to working with the management team and my fellow directors to continue advancing their commercial banking initiatives.”

Prior to her tenure at BofA, Ms. McCallion was an audit senior manager with Deloitte & Touche, and prior to that had been on the technical staff of the Financial Accounting Standards Board. A Certified Public Accountant (Inactive), Ms. McCallion received her Master in Business Administration from Ashland University and received her Bachelor in Science degree with an emphasis in Accounting from Gannon University.