Welcome to our dedicated page for Heritage Comm news (Ticker: HTBK), a resource for investors and traders seeking the latest updates and insights on Heritage Comm stock.
Heritage Commerce Corp (HTBK) provides comprehensive financial services through its banking and factoring divisions, serving businesses across California's innovation economy. This news hub offers investors and stakeholders centralized access to official corporate communications and market-moving developments.
Track HTBK's strategic initiatives through verified press releases covering earnings results, leadership updates, and regulatory filings. Our curated collection simplifies monitoring of critical business activities including loan portfolio growth, credit management practices, and SBA lending programs.
The repository features essential updates across HTBK's operational segments: commercial banking services through Heritage Bank of Commerce and specialized factoring solutions from Bay View Funding. Stay informed about deposit growth metrics, risk management strategies, and community banking initiatives that drive the company's regional impact.
Bookmark this page for direct access to Heritage Commerce Corp's latest financial disclosures and operational milestones. Regular updates ensure timely awareness of developments affecting the company's position in commercial banking and working capital financing sectors.
Heritage Commerce Corp (HTBK) has declared its regular quarterly cash dividend of $0.13 per share to common stockholders. The dividend will be paid on May 22, 2025, to shareholders of record as of May 8, 2025.
The company has maintained a consistent track record of quarterly dividend payments since 2013. Heritage Commerce Corp, established in 1997, operates through its subsidiary Heritage Bank of Commerce, which was founded in 1994 and is headquartered in San Jose, CA. The bank maintains full-service branches across multiple California locations and serves as an SBA Preferred Lender. Its subsidiary, Bay View Funding, provides working capital factoring financing services nationwide.
Heritage Commerce Corp (HTBK) reported solid Q1 2025 financial results with net income of $11.6 million, or $0.19 per share, representing a 9% increase from the previous quarter and 14% year-over-year growth. The company's performance was driven by improved net interest margin of 3.39%, strong expense control, and enhanced asset quality.
Key financial metrics include:
- Total revenue of $46.1 million
- Pre-Provision Net Revenue of $16.6 million
- Efficiency ratio improved to 63.96%
- Total assets of $5.5 billion
- Loans held-for-investment remained stable at $3.5 billion
- Total deposits decreased 3% to $4.7 billion
The company maintained strong capital ratios with a common equity tier 1 capital ratio of 13.6% and total capital ratio of 15.9%. Despite seasonal deposit outflows, Heritage Commerce Corp expects continued positive trends in net interest margin, loan and deposit growth, and expense management through 2025.
Heritage Commerce Corp (NASDAQ: HTBK) has appointed Janisha Sabnani as Executive Vice President and General Counsel of both the company and Heritage Bank of Commerce. Reporting directly to CEO Clay Jones, Sabnani will oversee all legal and regulatory matters, bringing over fifteen years of experience in financial services and private practice.
Sabnani's previous role was at First Republic Bank as Senior Vice President, Deputy General Counsel & Assistant Secretary. She also worked as a corporate attorney at Skadden, Arps, Slate, Meagher & Flom, LLP. Her expertise includes public company reporting, capital markets activities, corporate governance, bank products, mergers and acquisitions, bank investments, and regulatory compliance.
She holds a J.D. from NYU School of Law, an M.B.A. from NYU Stern School of Business, and a B.A. from UC Berkeley in Political Science and Mass Communications.
Heritage Commerce Corp (Nasdaq: HTBK) has declared its regular quarterly cash dividend of $0.13 per share to common stockholders. The dividend will be paid on February 20, 2025, to shareholders of record as of February 6, 2025. The company has maintained a consistent quarterly dividend distribution since 2013.
Heritage Commerce Corp, established in 1997, operates through its subsidiary Heritage Bank of Commerce, which was founded in 1994 and is headquartered in San Jose, CA. The bank maintains full-service branches across multiple California locations and serves as an SBA Preferred Lender. Its subsidiary, Bay View Funding, provides working capital factoring financing to various industries throughout the United States.
Heritage Commerce Corp (HTBK) reported Q4 2024 net income of $10.6 million ($0.17 per diluted share), compared to $10.5 million in Q3 2024 and $13.3 million in Q4 2023. Full-year 2024 net income was $40.5 million ($0.66 per share), down from $64.4 million ($1.05 per share) in 2023.
The company demonstrated strong performance with deposit growth of 2% quarter-over-quarter and 10% year-over-year. Loan balances increased by 2% from the previous quarter and 4% year-over-year. The net interest margin expanded to 3.34% in Q4 2024 from 3.17% in Q3 2024, primarily due to reduced cost of funds. Net interest income increased 11% to $44.2 million in Q4 2024 compared to Q3 2024.
Credit quality remained strong with low nonperforming assets and net charge-offs at year-end 2024.
Heritage Commerce Corp (Nasdaq: HTBK) announced that Executive Vice President and CFO Lawrence D. McGovern will depart in February 2025. Current COO Thomas A. Sa will serve as Interim CFO starting November 18, 2024, while the company searches for a permanent replacement. McGovern will remain in a transitional role until mid-February 2025. The company emphasized that McGovern's departure is not related to any concerns regarding financial statement integrity. Heritage Commerce Corp is the parent company of Heritage Bank of Commerce, operating full-service branches across multiple California locations.
Heritage Commerce Corp (HTBK) has declared a regular quarterly cash dividend of $0.13 per share to common stock holders. The dividend will be paid on November 21, 2024, to shareholders of record as of November 7, 2024. The company has maintained consistent quarterly dividend payments since 2013. Heritage Commerce Corp, established in 1997, operates through Heritage Bank of Commerce with full-service branches across multiple California locations, including San Jose, San Francisco, and Walnut Creek.
Heritage Commerce Corp (HTBK) reported net income of $10.5 million ($0.17 per diluted share) for Q3 2024, up from $9.2 million in Q2 2024 but down from $15.8 million in Q3 2023. The quarter highlighted a 6% growth in total deposits and a 7% increase in noninterest-bearing demand deposits compared to the previous quarter. Core loans grew by $148.3 million (5%) over the last 12 months and $35.7 million (1%) from the prior quarter. Net interest income increased 1% to $39.9 million in Q3 2024 compared to Q2, while the net interest margin contracted 9 basis points to 3.17%.
Heritage Commerce Corp (NASDAQ: HTBK), parent company of Heritage Bank of Commerce, has appointed Thomas A. Sa as the new Chief Operating Officer (COO) of both the Company and the Bank. Mr. Sa, who will report directly to CEO Robertson "Clay" Jones, will oversee banking operations, risk management, and IT systems.
Sa brings over 30 years of experience in California-based community and regional banks, having previously served as President, COO, and CFO of California BanCorp. CEO Clay Jones expressed confidence in Sa's ability to contribute to the company's growth and navigate the challenging business environment.
Heritage Commerce Corp, established in 1997, is the parent company of Heritage Bank of Commerce, founded in 1994. The bank operates full-service branches across various California locations and is an SBA Preferred Lender.
Heritage Commerce Corp (NASDAQ: HTBK) announced the retirement of Ranson W. Webster from its Board of Directors, effective October 1, 2024. Webster, an original founder who joined the Board in 2004, has served as Vice Chair of both the Company and Heritage Bank of Commerce boards. Director Julianne M. Biagini-Komas will assume the role of Vice Chair for both boards on the same date.
Biagini-Komas, an Independent Director since 2015, is currently the Audit Committee Chairperson and Member of the Personnel and Compensation Committee. She brings extensive expertise in accounting, finance, operations, and strategic planning to her new role. The company expressed gratitude for Webster's two decades of dedicated service and welcomed Biagini-Komas to her new position.
