On August 29, 2019, Pacific Mercantile Bancorp announced that Thomas M. Vertin, President and Chief Executive Officer of both the Company and its subsidiary, Pacific Mercantile Bank (the Bank), would resign as an officer, employee and director of the Company and the Bank, effective as of September 3, 2019. Also on August 29, 2019, the Company announced that Brad Dinsmore has been appointed to succeed Mr. Vertin as President and Chief Executive Officer of the Company and the Bank, and to serve as a member of the Company's Board of Directors and the Bank's Board of Directors, effective as of September 3, 2019. Mr. Dinsmore, age 56, previously served as Corporate Executive Vice President at SunTrust Bank from 2011 to 2017, where his responsibilities included Consumer Banking, Private Wealth Management and Digital Banking.

Prior to joining SunTrust Bank, Mr. Dinsmore served as Group Executive Vice President, Head of US Retail Banking at Citigroup from 2009 to 2011. Mr. Dinsmore previously spent more than 20 years at Bank of America, including 15 years in senior roles in the Southern California market. Mr. Dinsmore holds a B.A. in Business Administration, Finance, from California Polytechnic State University, San Luis Obispo, and graduated from the Pacific Coast Banking School at the University of Washington.