Heritage Commerce Corp announces retirement of Margo Butsch, Executive Vice President and Chief Credit Officer

Rhea-AI Summary

Heritage Commerce Corp announces retirement of Margo Butsch as EVP and Chief Credit Officer

Positive

• Margo Butsch retiring after eight years with the Bank
• Heritage Commerce Corp to appoint a new Chief Credit Officer
• Smooth transition expected with strong team and solid credit culture

Negative

• None.

SAN JOSE, Calif., June 15, 2023 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (NASDAQ: HTBK) (the "Company"), parent of Heritage Bank of Commerce (the "Bank"), today announced that Margo Butsch will be retiring from her position as Executive Vice President and Chief Credit Officer, after eight years with the Bank.  Margo’s retirement caps a notable and successful career in banking.

"On behalf of the Board of Directors and the management team, we express our sincerest gratitude to Margo for her loyal service with our Company," said Clay Jones, President and Chief Executive Officer. "Her leadership has been integral in enhancing our credit structure and maintaining our high standards for safety and soundness. We wish her all the very best in her well-deserved retirement." The Bank will appoint a new Chief Credit Officer following an orderly internal and external executive search. "Margo has created a strong team and a solid credit culture that will allow for a smooth transition to her successor."

Heritage Commerce Corp, a bank holding company established in October 1997, is the parent company of Heritage Bank of Commerce, established in 1994 and headquartered in San Jose, CA with full-service branches in Danville, Fremont, Gilroy, Hollister, Livermore, Los Altos, Los Gatos, Morgan Hill, Oakland, Palo Alto, Pleasanton, Redwood City, San Francisco, San Jose, San Mateo, San Rafael, and Walnut Creek.  Heritage Bank of Commerce is an SBA Preferred Lender.  Bay View Funding, a subsidiary of Heritage Bank of Commerce, is based in San Jose, CA and provides business-essential working capital factoring financing to various industries throughout the United States.  For more information, please visit www.heritagecommercecorp.com. 

Member FDIC 

For additional information, contact: 
Debbie Reuter 
EVP, Corporate Secretary 
Direct: (408) 494-4542 
Debbie.Reuter@herbank.com

FAQ

Who is retiring from Heritage Commerce Corp?

Margo Butsch is retiring from her position as EVP and Chief Credit Officer.

Who will be appointed as the new Chief Credit Officer?

The Bank will appoint a new Chief Credit Officer following an orderly internal and external executive search.

What is the main focus of Heritage Commerce Corp?

Heritage Commerce Corp is focused on enhancing credit structure and maintaining high standards for safety and soundness.

Where is Heritage Bank of Commerce headquartered?

Heritage Bank of Commerce is headquartered in San Jose, CA.

What services does Bay View Funding provide?

Bay View Funding, a subsidiary of Heritage Bank of Commerce, provides business-essential working capital factoring financing to various industries throughout the United States.