Heritage Commerce Corp  (HTBK)
Other Ticker:  
    Sector  Financial    Industry Regional Banks
   Industry Regional Banks
   Sector  Financial
Price: $7.9200 $0.02 0.253%
Day's High: $8.06 Week Perf: -3.06 %
Day's Low: $ 7.82 30 Day Perf: -7.91 %
Volume (M): 263 52 Wk High: $ 10.22
Volume (M$): $ 2,081 52 Wk Avg: $8.59
Open: $7.96 52 Wk Low: $6.69

 Market Capitalization (Millions $) 486
 Shares Outstanding (Millions) 61
 Employees 260
 Revenues (TTM) (Millions $) 191
 Net Income (TTM) (Millions $) 64
 Cash Flow (TTM) (Millions $) 102
 Capital Exp. (TTM) (Millions $) 2

Heritage Commerce Corp
Heritage Commerce Corp, a California corporation organized in 1997, is a bank holding company registered under the Bank Holding Company Act of 1956, as amended. We provide a wide range of banking services through Heritage Bank of Commerce, our wholly-owned subsidiary. Heritage Bank of Commerce is a California state-chartered bank headquartered in San Jose, California and has been conducting business since 1994.

Heritage Bank of Commerce is a multi-community independent bank that offers a full range of commercial banking services to small and medium-sized businesses and their owners, managers and employees. We operate through 11 full service branch offices located entirely in the southern and eastern regions of the general San Francisco Bay Area of California in the counties of Santa Clara, Alameda, Contra Costa, and San Benito. Our market includes the headquarters of a number of technology based companies in the region commonly known as "Silicon Valley."

Our lending activities are diversified and include commercial, real estate, construction and land development, consumer and Small Business Administration ("SBA") guaranteed loans. We generally lend in markets where we have a physical presence through our branch offices. We attract deposits throughout our market area with a customer-oriented product mix, competitive pricing, and convenient locations. We offer a wide range of deposit products for business banking and retail markets. We offer a multitude of other products and services to complement our lending and deposit services. In addition, Bay View Funding provides factoring financing throughout the United States.

As a bank holding company, Heritage Commerce Corp is subject to the supervision of the Board of Governors of the Federal Reserve System. We are required to file with the Federal Reserve reports and other information regarding our business operations and the business operations of our subsidiaries.

Our commercial loan portfolio is comprised of operating secured and unsecured loans advanced for working capital, equipment purchases and other business purposes. Generally short-term loans have maturities ranging from thirty days to one year, and "term loans" have maturities ranging from one to five years. Short-term business loans are generally intended to finance current transactions and typically provide for periodic principal payments, with interest payable monthly. Term loans generally provide for floating or fixed interest rates, with monthly payments of both principal and interest. Repayment of secured and unsecured commercial loans depends substantially on the borrowers underlying business, financial condition and cash flows, as well as the sufficiency of the collateral. Compared to real estate, the collateral may be more difficult to monitor, evaluate and sell. It may also depreciate more rapidly than real estate. Such risks can be significantly affected by economic conditions. HBCs commercial loans, except for the factored receivables at Bay View Funding, are primarily originated for locally-oriented commercial activities in communities where HBC has a physical presence through its branch offices.

The commercial real estate loan portfolio is comprised of loans secured by commercial real estate. These loans are generally advanced based on the borrowers cash flow, and the underlying collateral provides a secondary source of payment. HBC generally restricts real estate term loans to no more than 75% of the propertys appraised value or the purchase price of the property, depending on the type of property and its utilization. HBC offers both fixed and floating rate loans. Maturities on such loans are generally restricted to between five and ten years (with amortization ranging from fifteen to twenty-five years and a balloon payment due at maturity, and amortization of thirty years on loans secured by apartments); however, SBA and certain real estate loans that can be sold in the secondary market may be advanced for longer maturities. Commercial real estate loans typically involve large balances to single borrowers or groups of related borrowers. Since payments on these loans are often dependent on the successful operation or management of the properties, as well as the business and financial condition of the borrower, repayment of such loans may be subject to adverse conditions in the real estate market, adverse economic conditions or changes in applicable government regulations. If the cash flow from the project decreases, or if leases are not obtained or renewed, the borrowers ability to repay the loan may be impaired.

The consumer loan portfolio is composed of miscellaneous consumer loans including loans for financing automobiles, various consumer goods and other personal purposes. Consumer loans are generally secured. Repossessed collateral for a defaulted consumer loan may not provide an adequate source of repayment for the outstanding loan, and the remaining deficiency may not warrant further substantial collection efforts against the borrower. In addition, consumer loan collections are dependent on the borrowers continued financial stability, which can be adversely affected by job loss, divorce, illness or personal bankruptcy. Furthermore, the application of various federal and state laws, including federal and state bankruptcy and insolvency laws, may limit the amount which can be recovered on such loans.

Deposits traditionally have been our primary source of funds for our investment and lending activities. We also are able to borrow from the Federal Home Loan Bank of San Francisco and the Federal Reserve Bank of San Francisco to supplement cash flow needs. Our additional sources of funds are scheduled loan payments, maturing investments, loan repayments, income on other earning assets, and the proceeds of loan sales and securities sales.

Interest rates, maturity terms, service fees and withdrawal penalties are established on a periodic basis. Deposit rates and terms are based primarily on current operating strategies and market interest rates, liquidity requirements and our deposit growth goals.

We offer a wide range of deposit products for retail and business banking markets including checking accounts, interest-bearing transaction accounts, savings accounts, time deposits and retirement accounts. Our branch network enables us to attract deposits from throughout our market area with a customer-oriented product mix, competitive pricing, and convenient locations. HBC joined the Certificate of Deposit Account Registry Service (CDARS®) program in August 2008, which enables our local customers to obtain expanded FDIC insurance coverage on their deposits.

   Company Address: 224 Airport Parkway San Jose 95110 CA
   Company Phone Number: 947-6900   Stock Exchange / Ticker: NASDAQ HTBK

Customers Net Income fell by HTBK's Customers Net Profit Margin fell to

-4.36 %

11.29 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


Stock Performances by Major Competitors

5 Days Decrease / Increase
BK   -3.31%    
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FCNCA        1.41% 
FITB   -4.73%    
NTRS   -4.03%    
WAL   -4.55%    
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Heritage Commerce Corp

Heritage Commerce Corp Reports Significant Top-Line Contraction in Fourth Quarter 2023 Earnings

Heritage Commerce Corp (Nasdaq: HTBK), the parent company for Heritage Bank of Commerce, recently announced its financial results for the fourth quarter of 2023 and the fiscal year ended December 31, 2023. The company reported a net income of $13.3 million for the fourth quarter, compared to $20.8 million in the same period the previous year. For the full year, net income was $64.4 million, compared to $66.6 million in the previous year.
Despite a decrease in net income, Heritage Commerce Corp has demonstrated its commitment to its shareholders by announcing a regular quarterly cash dividend of $0.13 per share. This dividend will be payable on February 22, 2024, to shareholders of record as of February 8, 2024. It is worth noting that the company has consistently rewarded its shareholders with cash dividends every quarter since 2013.


Heritage Commerce Corp Holds Strong Dividend Record Amid Dynamic Financial Sector

Published Fri, Jan 26 2024 12:29 AM UTC

Noteworthy banking institution, Heritage Commerce Corp (Nasdaq: HTBK), the parent company for Heritage Bank of Commerce, has yet again demonstrated its financial fortitude. The financial powerhouse announced its Board of Directors' recent approval of a regular quarterly cash dividend of $0.13 per share to all its common stock shareholders, a reflection of its susta...

Heritage Commerce Corp

Heritage Commerce Corp Maintains Steady Momentum in Third Quarter 2023 Efforts

Heritage Commerce Corp (Nasdaq: HTBK) recently announced its financial results for the fiscal period ending September 30, 2023, showing a decline in income and revenue compared to the previous year. The company reported a 13.33% decrease in income, amounting to $0.26 per share, and a 4.81% decline in revenue, totalling $47.42 million. This is in contrast to the overall trend in the Regional Banks sector, which saw a 1.64% improvement in revenue during the same period.
In comparison to the previous quarter, Heritage Commerce Corp also experienced a decrease in revenue, down 1.428% from $48.11 million, and a decline in earnings per share, down 3.7% from $0.27 per share. The company's earnings for the fiscal period ending September 30, 2023, amounted to $15.795 million, a 12.59% decrease compared to the same period the previous year.


Heritage Commerce Corp Maintains Dividend Tradition Amidst a Decreased Payout Ratio

Published Thu, Oct 26 2023 10:01 PM UTC

Heritage Commerce Corp Announces Regular Quarterly Cash Dividend and a Decreased Dividend Payout Ratio
SAN JOSE, Calif., Oct. 26, 2023 - Heritage Commerce Corp (Nasdaq: HTBK), the holding company for Heritage Bank of Commerce, has recently declared a regular quarterly cash dividend of $0.13 per share for its common stockholders. The dividend is scheduled to be paid ...

Heritage Commerce Corp

Heritage Commerce Corp Reports Stable Growth in Q2 2023 with Positive Financial Outlook Despite Industry Underperformance

Heritage Commerce Corp, a regional bank, recently announced its financial results for the April to June 2023 fiscal interval. The company reported positive growth in revenue and earnings per share (EPS), although it underperformed compared to its industry peers.
During the specified fiscal interval, Heritage Commerce Corp's revenue increased by 8.943% to $48.11 million, compared to $44.16 million in the previous year's reporting period. This signifies a healthy growth rate for the company. Additionally, the company's EPS grew by 12.5% to $0.27 per share, up from $0.24 in the prior year's reporting period. This indicates increased profitability for the company and suggests that it effectively managed its expenses.


Heritage Commerce's Segments
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  Revenue Outlook
Heritage Commerce does not provide revenue guidance.

Earnings Outlook
Heritage Commerce Corp does not provide earnings estimates.

Geographic Revenue Dispersion


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