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 (HTBK) has declared a quarterly cash dividend of $0.13 per share for its common stockholders. This dividend will be payable on August 25, 2022, to shareholders on record as of August 11, 2022. The company emphasizes its continued commitment to delivering shareholder returns, supported by strong earnings and a solid capital position as stated by President and CEO Walter Kaczmarek.
Heritage Commerce Corp (HTBK) reported strong second quarter 2022 results, netting $14.8 million, or $0.24 per diluted share, up from $8.8 million, or $0.15 per share, year-over-year. Year-to-date, net income rose to $27.7 million, a 39% increase from $20.0 million in 2021. Core deposits supported a 12% loan growth excluding PPP loans, while net interest income spiked 20% to $41.9 million. The efficiency ratio improved significantly to 52.73%. Nonperforming assets dropped 56% year-over-year. The bank opened a new office in Oakland, boosting its growth prospects.
Heritage Commerce Corp (Nasdaq: HTBK) announced that Walter T. Kaczmarek will resign as President and CEO, effective September 15, 2022. Robertson “Clay” Jones, currently President and COO, will take over the leadership role. Jones has a strong background in community and commercial banking, having contributed significantly to the Bank's growth since joining in 2019. Kaczmarek will remain on the Boards of both the Company and the Bank. The Board expresses confidence in Jones' ability to enhance operational and financial performance, aimed at creating value for shareholders.
Heritage Bank of Commerce announced the opening of its 18th location in Oakland, California, enhancing services to small and medium-sized businesses. This new office, led by Landon Baines, offers a comprehensive suite of commercial banking products. Heritage Bank emphasizes its commitment to the Oakland community, continuing its support for local non-profits. Established in 1994, the bank operates numerous branches across the Bay Area and maintains its status as an SBA Preferred Lender.
Heritage Commerce Corp (Nasdaq: HTBK) announced that its subsidiary, Heritage Bank of Commerce, received the title of “Super Premier Performing Bank” by The Findley Reports, based on 2021 year-end financials. This prestigious designation is awarded to California banks that excel in performance criteria. Heritage Bank has been recognized for over 28 years for its superior service in the San Francisco Bay Area. This accolade highlights the bank's exceptional financial performance and dedication to client service.
Heritage Commerce Corp (NASDAQ: HTBK) announced the successful completion of a $40 million private placement of 5.0% Fixed-To-Floating Rate Subordinated Notes due 2032. The proceeds will primarily be utilized for general corporate purposes, particularly to repay the Company's outstanding 5.25% Fixed-To-Floating Rate Subordinated Notes due 2027. Redemption of these 2027 Notes is scheduled for June 1, 2022. Keefe, Bruyette & Woods and PNC FIG Advisory acted as co-placement agents for this offering.
Heritage Commerce Corp (Nasdaq: HTBK) has declared a quarterly cash dividend of $0.13 per share, payable on May 26, 2022, to shareholders of record by May 12, 2022. Established in 1997, the company operates Heritage Bank of Commerce, providing a range of financial services through its branches in California. As an SBA Preferred Lender, it aims to support various industries with financing solutions. This dividend demonstrates the company's commitment to returning income to its shareholders and reflects its financial health.
Heritage Commerce Corp (Nasdaq: HTBK) reported a net income of $12.9 million for Q1 2022, up from $11.2 million a year prior, with diluted earnings per share at $0.21. Net interest income rose 9% year-over-year to $38.2 million, aided by loan growth and credit quality, although the total loans decreased slightly from Q4 2021. Nonperforming assets fell 32% to $3.8 million. However, the allowance for credit losses dropped to 1.41% of total loans. Total assets increased by 9% to $5.427 billion, reflecting strong capital ratios and a solid foundation for growth.
Heritage Commerce Corp (Nasdaq: HTBK) announced the retirement of Executive Vice President Michael Benito, effective June 1, 2022. Dustin Warford will take on Benito's responsibilities as Executive Vice President, Community Business Banking Division Manager. Warford, a 17-year veteran at the bank, has been a significant contributor to its growth. The company also promoted Paul Perez to Real Estate Industries Division President and Doug Stewart to Market President for the Peninsula Region. These changes aim to continue the bank's success and community impact.
Bay View Funding, a subsidiary of Heritage Bank of Commerce, has appointed Norman Brame as Senior Vice President, Regional Sales Manager. His role will focus on expanding factoring business in Virginia, Tennessee, and the Carolinas, addressing rising demand in these regions. Brame, an 18-year financial industry veteran, brings a strong background in sales and marketing, as well as experience as a former business owner. His previous roles include Regional Vice President and National Sales Manager in factoring finance companies.