In the Q4, Heritage Commerce Corp's corporate clients experienced a reduction by -0.5 % in their costs of revenue, compared to a year ago, sequentially costs of revenue grew by 27.49 %. During the corresponding time, Heritage Commerce Corp recorded a revenue increase by 17.7 % year on year, sequentially revenue grew by 6.9 %. While revenue at the Heritage Commerce Corp's corporate clients fell by -4.98 % year on year, sequentially revenue fell by -5.84 %.
Customers of Heritage Commerce Corp saw their costs of revenue decrease by -0.5 % in Q4 compare to a year ago, sequentially costs of revenue grew by 27.49 %, for the same period Heritage Commerce Corp recorded revenue increase by 17.7 % year on year, sequentially revenue grew by 6.9 %.
Heritage Commerce's Comment on Sales, Marketing and Customers
We operate primarily in Santa Clara County, Contra Costa County, Alameda County,
and San Benito County and, as a result, our financial condition and results of
operations are subject to changes in the economic conditions in those areas. Our
success depends upon the business activity, population, income levels, deposits
and real estate activity in these markets. Although our customers business and
financial interests may extend well beyond these market areas, adverse economic
conditions that affect these market areas could reduce our growth rate, affect
the ability of our customers to repay their loans to us and generally affect our
financial condition and results of operations. Our lending operations are located
in market areas dependent on technology and real estate industries and their supporting
companies. Thus, our borrowers could be adversely impacted by a downturn in these
sectors of the economy that could reduce the demand for loans and adversely impact
the borrowers ability to repay their loans, which would, in turn, increase our
nonperforming assets. Because of our geographic concentration, we are less able
than regional or national financial institutions to diversify our credit risks
across multiple markets.
Heritage Commerce’s Comment on Sales, Marketing and Customers
We operate primarily in Santa Clara County, Contra Costa County, Alameda County,
and San Benito County and, as a result, our financial condition and results of
operations are subject to changes in the economic conditions in those areas. Our
success depends upon the business activity, population, income levels, deposits
and real estate activity in these markets. Although our customers business and
financial interests may extend well beyond these market areas, adverse economic
conditions that affect these market areas could reduce our growth rate, affect
the ability of our customers to repay their loans to us and generally affect our
financial condition and results of operations. Our lending operations are located
in market areas dependent on technology and real estate industries and their supporting
companies. Thus, our borrowers could be adversely impacted by a downturn in these
sectors of the economy that could reduce the demand for loans and adversely impact
the borrowers ability to repay their loans, which would, in turn, increase our
nonperforming assets. Because of our geographic concentration, we are less able
than regional or national financial institutions to diversify our credit risks
across multiple markets.
Sources:
Heritage Commerce Corp’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Heritage Commerce Corp’s corporate clients.
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