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COSTA MESA, Calif., Aug. 29, 2018 (GLOBE NEWSWIRE) -- Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ: PMBC), today announced that it has provided financing to Prospect 3, a feature film production company. On September 7, 2018, Prospect 3 will release its newest feature film, HURRICANE, in the U.K. in theaters and on digital platforms simultaneously. HURRICANE has already opened in Poland, where it went straight to number 1 at the box office. The U.S. release date has yet to be set.
LipSync Post Limited, which referred Prospect 3 to Pacific Mercantile Bank, did the post-production on HURRICANE. LipSync Post is an internationally recognized post-house, providing post-production services to the film and television industry for over 20 years.
“I am always happy to refer a partner in the entertainment industry to Pacific Mercantile Bank,” said Norman Merry, Finance Director of LipSync Productions. “Working with an experienced entertainment lender like Pacific Mercantile always makes a production easier.”
Krystian Kozlowski, Principal of Prospect 3, added, “The bankers at Pacific Mercantile Bank are flexible and responsive, allowing us to devote more of our time and attention to bringing the vision we have for our films to life.”
“We would like to thank Norman Merry for referring Prospect 3 to us,” said Christopher Howland, Vice President, Pacific Mercantile Bank’s Entertainment Industries Division (EID). “Prospect 3 has an outstanding team with a strong track record and great creative instincts.”
Directed by BAFTA-winner David Blair, HURRICANE is a World War II action thriller that tells the story of a group of brave Poles who fought in the skies over England. The soldiers fought not just to keep Great Britain free from the Nazis, but also to keep alive the very idea of their own country, which had existed in its modern form for barely twenty years before it was crushed between the opposing jaws of Germany and Russia. Equipped with the older Hurricane fighter planes and (with some initial reluctance) given RAF blue uniforms, while they fought, Poland lived.
Pacific Mercantile Bank is a lender to entertainment related operating companies. The Bank evaluates potential new financings in the entertainment industry on the basis of long-term relationship and credit-worthiness.
About Pacific Mercantile Bank
Pacific Mercantile Bancorp (NASDAQ: PMBC) is the parent holding company of Pacific Mercantile Bank, which opened for business March 1, 1999. The Bank, which is an FDIC insured, California state-chartered bank and a member of the Federal Reserve System, provides a wide range of commercial banking services to businesses, business professionals and individual clients. The Bank is headquartered in Orange County and has seven locations in Southern California, located in Orange, Los Angeles, San Diego, and San Bernardino counties. The Bank offers tailored flexible solutions for its clients including an array of loan and deposit products, sophisticated cash management services, and comprehensive online banking services accessible at www.pmbank.com.
This news release contains statements regarding our expectations, beliefs and views about our plans to continue to build our loan portfolio and supporting systems and processes. These statements, which constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, can be identified by the fact that they do not relate strictly to historical or current facts. Often, they include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "project," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." These forward-looking statements are subject to numerous risks and uncertainties. Actual results may differ materially from the results discussed in these forward-looking statements because such statements are inherently subject to significant assumptions, risks and uncertainties, many of which are difficult to predict and are generally beyond our control. These risks and uncertainties include, but are not limited to, the following: the impact of interest rates and other external economic factors and competition among financial services providers. We undertake no obligation (and expressly disclaim any such obligation) to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. For additional information concerning factors that could cause actual conditions, events or results to materially differ from those described in the forward-looking statements, please refer to the factors set forth under the headings "Risk Factors" in our most recent Form 10-K and 10-Q reports and to our most recent Form 8-K reports, which are available online at www.sec.gov. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on our results of operations or financial condition.
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EVP & Chief Banking Officer