Pacific Mercantile hires regional banker as its CEO
Pacific Mercantile Bancorp in Costa Mesa, Calif., will soon have a new CEO.
The $1.4 billion-asset company said in a press release Thursday that Brad Dinsmore will also become president in early September.
Dinsmore recently served as the CEO of the bank consulting firm Stress2Confidence Management Consulting in Atlanta, according to his LinkedIn profile. Before that, he was corporate executive vice president at SunTrust Banks, where he was in charge ofr consumer banking, small-business banking, private wealth management and digital banking.
Dinsmore will succeed Thomas Vertin, who has led Pacific Mercantile since 2016. The company said Vertin is stepping down to move to Northern California.
Dinsmore "has an outstanding track record of delivering exceptional results as a senior executive at SunTrust, Citigroup and Bank of America, and he has consistently demonstrated the ability to generate profitable growth in numerous areas of banking," Edward Carpenter, Pacific Mercantile's chairman, said in the release.
Pacific Mercantile has a "highly differentiated" value proposition that should continue to play well in Southern California, Dinsmore said.
"I believe there is no better market in the country to serve the needs of the large number of small- and middle-market companies," he added.