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Company CEO Raymond E. Dellerba said that reasons for the move included his company's belief that the costs of capital obtainable under that program are relatively high. He also cited concerns that Treasury or congress may impose new operational requirements or restrictions, retroactively, on TARP participants that could adversely affect the company "in ways that are not foreseeable or measurable, creating uncertainties that make planning for the future more difficult."
Costa Mesa, California-based Pacific Mercantile Bancorp is the parent holding company of Pacific Mercantile Bank, which operates a total of eight financial centers in Southern California.
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Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).
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