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 (NASDAQ: HTBK) is a California bank holding company and parent of Heritage Bank of Commerce, a community business bank headquartered in San Jose, California. The company’s news flow centers on commercial banking activities, financial performance, capital management, and corporate governance developments, reflecting its role in the commercial banking and factoring markets.
Regular earnings announcements are a key component of Heritage Commerce Corp news. The company issues quarterly press releases detailing unaudited financial results, including net income, earnings per share, pre-provision net revenue, fully tax equivalent net interest margin, efficiency ratio, loan and deposit trends, and asset quality metrics. These updates often discuss loan growth, deposit changes, noninterest income and expense, and capital ratios, as well as non-GAAP measures such as adjusted net income and adjusted PPNR.
Investors following HTBK news will also see frequent updates on dividends and share repurchases. The Board of Directors has declared regular quarterly cash dividends, with recent releases describing a $0.13 per share dividend and noting a record of paying a cash dividend each quarter since 2013. SEC filings and press releases also cover the company’s share repurchase program, including authorizations, increases in the maximum total value of shares authorized for repurchase, and remaining capacity under the program.
Heritage Commerce Corp’s news includes leadership and governance changes, such as appointments to the Board of Directors, changes in Board chair roles, executive appointments in finance and accounting positions, and planned retirements of senior officers. These developments are reported through press releases and corresponding Form 8-K filings.
A significant recent news theme is the proposed merger with CVB Financial Corp. In December 2025, the company announced a definitive merger agreement under which Heritage Commerce Corp will merge with and into CVB Financial Corp, and Heritage Bank of Commerce will merge with Citizens Business Bank, subject to specified conditions. Related communications include forward-looking statements and references to forthcoming SEC registration and proxy materials.
This news page aggregates these types of updates for HTBK, allowing readers to review financial results, capital actions, governance changes, credit ratings commentary, and transaction announcements in one place.
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.
Heritage Commerce Corp (NASDAQ: HTBK) has announced a $15 million share repurchase program, authorized by its Board of Directors. The program allows the company to repurchase its common stock in open market transactions under Rule 10b-18 of the Securities Exchange Act. Clay Jones, President and CEO, stated that repurchases represent a value-enhancing deployment of capital when shares are undervalued. The program aims to enhance the return on tangible common equity and is set to expire on July 31, 2025. Keefe, Bruyette & Woods will assist in the repurchase process. The timing, price, and amount of repurchases will depend on various factors, including market conditions and shareholder interests.
Heritage Commerce Corp (Nasdaq: HTBK), the holding company for Heritage Bank of Commerce, has declared a regular quarterly cash dividend of $0.13 per share to its common stock holders. The dividend is payable on August 22, 2024, to shareholders of record as of August 8, 2024. This continues the company's streak of paying quarterly cash dividends since 2013.
President and CEO Clay Jones attributed the dividend to another profitable quarter and expressed gratitude to shareholders. Heritage Commerce Corp, established in 1997, operates through its subsidiary Heritage Bank of Commerce, founded in 1994. The bank has full-service branches across various California locations and is an SBA Preferred Lender.
Heritage Commerce Corp (HTBK) reported Q2 2024 net income of $9.2 million, or $0.15 per diluted share, down from $10.2 million in Q1 2024 and $16.4 million in Q2 2023. For the first half of 2024, net income was $19.4 million, compared to $35.3 million in the same period of 2023. Key highlights include:
- Improved credit quality with reduced nonperforming and classified assets
- Loan portfolio grew by $43.7 million from Q1 2024 and $91.0 million year-over-year
- Total deposits remained steady at $4.4 billion
- Net interest income decreased 2% quarter-over-quarter and 15% year-over-year
- Net interest margin contracted to 3.26% in Q2 2024 from 3.34% in Q1 2024 and 3.76% in Q2 2023
Heritage Commerce Corp (NASDAQ: HTBK) announced that Kroll Bond Rating Agency (KBRA) affirmed its senior unsecured debt rating of BBB+, subordinated debt rating of BBB, and short-term debt rating of K2. KBRA also affirmed the Bank's deposit and senior unsecured debt ratings of A-, subordinated debt rating of BBB+, and short-term deposit and debt ratings of K2. The long-term ratings outlook for both the Company and the Bank is graded as stable. KBRA highlighted the resilience and strength of the Bank's deposit base since early 2023 as a positive factor, demonstrating strong client relationships. President and CEO, Clay Jones, emphasized the company's disciplined approach to liquidity and capital management, positioning it well for future growth.
Heritage Commerce Corp (NASDAQ: HTBK), parent company of Heritage Bank of Commerce, has been awarded the 2023 Raymond James Community Bankers Cup, marking its fifth recognition. The Cup honors the top 10% of community banks in the U.S. for superior financial performance and stability. This year, Heritage Commerce Corp ranked 14th out of 21 banks chosen from 203 eligible banks, based on profitability, operational, and balance sheet metrics. This achievement is especially significant as the company celebrates its 30th anniversary. The bank has assets ranging from $500 million to $10 billion as of December 31, 2023. Heritage Bank of Commerce operates full-service branches across various California locations and is an SBA Preferred Lender.
KBRA affirms the ratings for Heritage Commerce Corp, including the senior unsecured debt rating of BBB+ and the subordinated debt rating of BBB. The company has demonstrated a conservative approach to liquidity and capital management, maintaining strong ratios over the years. Despite challenges in NIM due to deposit costs, HTBK remains well-positioned with a solid deposit base and ample liquidity sources. Credit quality has been excellent, supported by prudent underwriting and robust monitoring.
Heritage Bank of Commerce, a subsidiary of Heritage Commerce Corp (NASDAQ: HTBK), has been recognized as one of Forbes 2024 World’s Best Banks, ranking 10th in the US. The accolade is based on trust, customer service, and financial advice, with the Bank's dedication to clients and communities being acknowledged. President and CEO Clay Jones praised the team's commitment to personalized service. The ranking is the result of an independent survey of 49,000 consumers in 33 countries, evaluating Trust, Terms & Conditions, Customer Services, Digital Services, and Financial Advice.
Heritage Bank of Commerce, a subsidiary of Heritage Commerce Corp (Nasdaq: HTBK), has appointed Chris Edmonds-Waters as the Chief People and Culture Officer. With over 30 years of HR experience, Edmonds-Waters aims to drive business outcomes by optimizing the impact of a values-driven culture. His appointment follows the relocation of Jan Coonley, and he brings a strong background from Silicon Valley Financial Group and Charles Schwab & Co., Inc. Edmonds-Waters holds a Master of Arts in Human Resources & Organization Development.