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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 as well as deposits totaling $1 billion, making it a medium-size bank. Pacific Mercantile Bank, whose headquarters are in Costa Mesa, California, lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. At a SmartAsset rating of 3.8 out of 5 stars, Pacific Mercantile Bank should be near the middle of the pack in your search for a bank. Pacific Mercantile Bank has a varied selection of product offerings, which include savings accounts, checking accounts, money market accounts, CDs and IRAs. Pacific Mercantile Bank has a fair savings rate; you can find higher rates with other banks. Locating an institution with no-fee checking and a high savings APY is your best bet for getting the highest income from your deposits while having 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. Pacific Mercantile Bank's one-year and five-year term lengths CDs earn at a rate of 2.33% and 2.84%, respectively, while its highest-yielding money market account earns at an APY of 0.08%. Given Pacific Mercantile Bank's below average savings rate, you should consider opting for higher earning savings accounts with other banks.

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 convenient, even on the go. Pacific Mercantile Bank's mobile app allows you to manage your finances by looking at current statements, sending and receiving money as well as reaching customer service. Pacific Mercantile Bank gets an excellent consumer satisfaction score due to comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed 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 is currently a medium-size bank with assets totaling $1 billion and $1 billion in deposits. Pacific Mercantile Bank's Texas Ratio is 3.18%, denoting a negligible probability of 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: 2.33% APY
  • 24 Month: 2.53% APY
  • 36 Month: 2.63% APY
  • 60 Month: 2.84% APY
$1000 for all terms
Money Market Account 0.05% APY $2500

Pacific Mercantile Bank has several deposit products including 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 taking a look elsewhere 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 as compared against the national average.

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Find a Pacific Mercantile Bank Near Me

Pacific Mercantile Bank has seven physical locations in the U.S.

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