Pacific Mercantile Bancorp announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported total interest income was $15,218,000 against $14,025,000 for the same period a year ago. Net interest income was $11,689,000 against $12,005,000 for the same period a year ago. Income before income taxes was $3,802,000 against $3,793,000 for the same period a year ago. Net income was $3,900,000 against $3,756,000 for the same period a year ago. Basic and diluted net income available to common shareholders was $0.17 against $0.16 for the same period a year ago. Return on average assets was 1.16% against 1.26% for the same period a year ago. Return on average equity was 11.50% against 13.82% for the same period a year ago. An increase in interest income of $1.2 million, or 8.5%, primarily attributable to an increase in interest earned on loans and short-term investments as a result of higher average balances and an increase in the average yield during the three months September 30, 2018 as compared to the three months ended September 30, 2017, which was primarily the result of the rising interest rate environment, partially offset by the recovery of $1.1 million in interest income during the third quarter of 2017 on a single loan relationship that had been on nonaccrual status but was paid in full. For the nine months, the company reported total interest income was $46,147,000 against $37,761,000 for the same period a year ago. Net interest income was $36,321,000 against $32,472,000 for the same period a year ago. Income before income taxes was $11,793,000 against $8,187,000 for the same period a year ago. Net income was $22,976,000 against $8,037,000 for the same period a year ago. Basic and diluted net income available to common shareholders was $0.98 against $0.35 for the same period a year ago. Return on average assets was 2.31% against 0.93% for the same period a year ago. Return on average equity was 24.78% against 10.22% for the same period a year ago. An increase in interest income of $8.4 million, or 22.2%, primarily attributable to an increase in interest earned on loans and short-term investments as a result of higher average balances and an increase in the average yields during the nine months ended September 30, 2018 as compared to the nine months ended September 30, 2017, which was primarily the result of the rising interest rate environment and the recovery of $1.6 million in interest income on two loan relationships that had been on nonaccrual status but were paid in full during the nine months ended September 30, 2018 as compared to $1.1 million recovered on one loan relationship during the nine months ended September 30, 2017.