Heritage Commerce Corp and Heritage Bank of Commerce Announce Appointment of New Chief Operating Officer Thomas A. Sa

Rhea-AI Summary

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.

Positive

• Appointment of experienced executive Thomas A. Sa as new COO
• Sa brings over 30 years of experience in community and regional banking
• Potential for improved operational efficiency and risk management
• Expectation of continued profitable growth and improved investor returns

Negative

• None.

News Market Reaction

-1.98%

1 alert

-1.98% News Effect

On the day this news was published, HTBK declined 1.98%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

SAN JOSE, Calif., Oct. 02, 2024 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (NASDAQ: HTBK) (“Company”), parent company of Heritage Bank of Commerce (“Bank”), today announced the appointment of Thomas A. Sa as the Chief Operating Officer (“COO”) of the Company and the Bank. As COO, Mr. Sa will report directly to Chief Executive Officer (“CEO”) Robertson “Clay” Jones and will have primary responsibility for banking operations, risk management, and information technology systems. Mr. Sa had previously served as President, Chief Operating Officer and Chief Financial Officer of California BanCorp and its subsidiary, California Bank of Commerce, which merged with Southern California Bancorp in July 2024. Mr. Sa has more than thirty years’ experience in a variety of increasingly responsible positions in California-based community and regional banks.

“We are delighted to have Tom bring his immense talent and experience to Heritage Commerce Corp and Heritage Bank of Commerce,” said CEO Clay Jones. “We’re confident that Tom will play a pivotal role in our drive to be the community business bank of choice throughout our market areas. His personality and dedication to community business banking and demonstrated leadership ability position him well to lead our talented, motivated team.”

Mr. Jones continued, “Tom’s diverse experience includes guiding strategy and oversight of business execution in addition to extensive knowledge of bank operations, lending, risk management, compliance, and finance, and we are confident that his skillset will allow us to continue our trend of consistent, profitable growth while managing today’s challenging environment.”

Mr. Sa likewise expressed his enthusiasm for the Company and the Bank. “It’s rare to find such a tremendous blend of talent and commitment among such a small, close-knit team,” said Mr. Sa. “I’m looking forward to joining the Company and the Bank and I’m confident we are well-positioned to grow and improve investor returns, prudently manage the Bank’s assets, and promote compliance with an ever more complex system of laws and regulations that govern our business.”

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1ee41931-2d17-41c8-9d30-b33cef4ebe7e

FAQ

Who is the new COO of Heritage Commerce Corp (HTBK)?

Thomas A. Sa has been appointed as the new Chief Operating Officer (COO) of Heritage Commerce Corp and Heritage Bank of Commerce.

What are Thomas A. Sa's responsibilities as COO of HTBK?

As COO, Thomas A. Sa will be primarily responsible for banking operations, risk management, and information technology systems at Heritage Commerce Corp and Heritage Bank of Commerce.

What is Thomas A. Sa's previous experience before joining HTBK?

Thomas A. Sa previously served as President, Chief Operating Officer, and Chief Financial Officer of California BanCorp and its subsidiary, California Bank of Commerce. He has over 30 years of experience in California-based community and regional banks.

How many full-service branches does Heritage Bank of Commerce (HTBK) operate?

Heritage Bank of Commerce operates full-service branches in multiple California locations, including 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.