COSTA MESA, Calif. (AP) _ Pacific Mercantile Bancorp (PMBC) on Monday reported first-quarter net income of $3.4 million, after reporting a loss in the same period a year earlier.

The bank, based in Costa Mesa, California, said it had earnings of 14 cents per share.

The bank holding company posted revenue of $15.4 million in the period. Its revenue net of interest expense was $14.5 million, exceeding Street forecasts.

Pacific Mercantile shares have risen 68% since the beginning of the year. The stock has more than doubled in the last 12 months.

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