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Pacific Mercantile Bank Review

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Pacific Mercantile Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Founded in 1999, Pacific Mercantile Bank has assets totaling $1 billion along with $1 billion in deposits, which makes it a medium-size bank. Pacific Mercantile Bank, whose headquarters are in Costa Mesa, California, lacks premium access to customer service, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. With an average 3.8 out of 5 stars, Pacific Mercantile Bank is a decent choice, but with better options out there. Pacific Mercantile Bank provides customers with a varied selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs and IRAs. Pacific Mercantile Bank has a fair savings rate; other popular banks have higher rates. Finding a checking account with no monthly fee, in addition to a savings account with a high APY at the same institution is the best bet for gaining the most income from your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more


SmartAsset Average: 3.5

With a savings rate of 0.05%, Pacific Mercantile Bank ranks poorly compared to other U.S. banks. Its one-year CD has a rate of 2.48% and the five-year CD has a rate of 2.94%, while its highest-yielding money market account earns at a rate of 0.08%. Given its noncompetitive savings rate, you should consider taking a look at other banks for savings accounts.

How Pacific Mercantile Bank's Savings Rates Compare

Pacific Mercantile Bank Savings 0.05 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

There is insufficient data on Pacific Mercantile Bank's fees to provide a full SmartAsset rating.

Monthly Fee N/A National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Pacific Mercantile Bank is a brick-and-mortar bank, with seven total branches in California. With mobile and web apps, Pacific Mercantile Bank makes account access easy, even on the go. You can utilize Pacific Mercantile Bank's mobile app to manage your accounts by monitoring current statements, sending and receiving funds as well as accessing customer service. Pacific Mercantile Bank receives an excellent consumer satisfaction rating due to comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating NR
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Pacific Mercantile Bank ranks as a medium-size bank and handles $1 billion in assets as well as deposits totaling $1 billion. Its Texas Ratio is 3.18%, indicating that the bank is in excellent financial shape and far from failure. Additionally, Pacific Mercantile Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Pacific Mercantile Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $100
Checking Account 0.05% APY $1500
Certificates of Deposit
  • 12 Month: 2.48% APY
  • 24 Month: 2.63% APY
  • 36 Month: 2.74% APY
  • 60 Month: 2.94% APY
$1000 for all terms
Money Market Account 0.05% APY $2500

Pacific Mercantile Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Pacific Mercantile Bank does not have the best savings rate, which means you should consider other options for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Pacific Mercantile Bank's CD rates are fair in comparison to the national average.

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Find a Pacific Mercantile Bank Near Me

Pacific Mercantile Bank has seven branches across the U.S.

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