On September 21, 2020, the Board of Directors (the Board") of Pacific Mercantile Bancorp announced the appointment of Anne McCallion to serve as director of the Company, effective immediately. Ms. McCallion was also appointed as a member of the Board of Directors of the Company's wholly-owned banking subsidiary, Pacific Mercantile Bank. Ms. McCallion was appointed to serve on the Audit Committee of both the Company and Bank Boards. Ms. McCallion has nearly 30 years of experience in the financial services industry, with a focus in the areas of finance and operations. Ms. McCallion has served on the board of PennyMac Financial Services Inc. since 2018. She served as PennyMac's Chief Enterprise Operations Officer from 2017 to 2019 and prior to that served as its Chief Financial Officer from 2009 to 2016, holding similar positions at PennyMac Mortgage Investment Trust.