Trade Heritage Commerce Corp - HTBK CFD

Heritage Commerce Company profile

About Heritage Commerce Corp.

Heritage Commerce Corp is a bank holding company for its wholly owned subsidiary Heritage Bank of Commerce (Bank), provides a range of commercial and personal banking services to residents and the business/professional community in Alameda, Contra Costa, Marin, San Benito, San Francisco, San Mateo, and Santa Clara counties of California. The Company's business segments include Banking segment and Factoring segment. The Company's subsidiary, CSNK Working Capital Finance Corp., doing business as Bay View Funding, provides business-essential working capital factoring financing to various industries across the United States. The Company's lending activities include commercial and industrial loans, commercial real estate loans, construction loans and small business administration (SBA) loans.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Heritage Commerce Corp. interest income increased 2% to $153.3M. Net interest income after loan loss provision increased 5% to $149.3M. Net income increased 35% to $47.7M. Net interest income after loan loss provision reflects Banking segment increase of 16% to $138.4M, Factoring segment increase of 14% to $10.8M. Net income benefited from Banking segment income increase of 32% to $43.6M.

Equity composition

Common Stock no Par, 2/11, 60M auth., 26,233,001 issd. Insiders control 10.72%. Public Offering 6/98, 387,097 shares @ $15.50 by the Company. Preferred Stock no Par, 10M auth., 40,000 issd. 2/99, 8/97, 3-for-2 stocksplits; 2/97, 5% stock dividend; 2/00, 2/96, 10% stock dividends. *7/98, Exchange changed from Pink Sheets to NASDAQ.