Heritage Commerce Earnings Reports

Heritage Commerce Corp delivered a solid first quarter performance in 2025, with a 9% increase in profitability from the prior quarter. This was driven by improved net interest margin, strong expense control, and better asset quality, despite seasonally low loan demand and deposit outflows.

Heritage Commerce Corp reported a net income of $10.6 million for Q4 2024, or $0.17 per average diluted common share. Deposit balances grew 2% over the prior quarter and 10% year-over-year, and loan growth also increased during the quarter.

Heritage Commerce Corp reported a net income of $10.5 million for Q3 2024, an increase from $9.2 million in the previous quarter. The company experienced significant deposit growth, with total deposits up 6% and noninterest-bearing demand deposits growing 7%. The loan portfolio also saw orderly growth, with core loans increasing by $35.7 million from the prior quarter.

Heritage Commerce Corp reported a net income of $9.2 million for Q2 2024, a decrease compared to both the previous quarter and the same quarter last year. The company continued to invest in people and technology while maintaining strong credit quality.

Heritage Commerce Corp reported a net income of $10.2 million for Q1 2024, a decrease compared to $18.9 million in Q1 2023. Total client deposits increased by over $66 million from the previous quarter, and the loan portfolio increased by over $74 million year-over-year. The company's credit quality remains strong, supported by sound reserves for potential credit losses.

Heritage Commerce Corp reported a net income of $13.3 million for Q4 2023, with diluted earnings per share of $0.22. The company's loan growth resulted in an increase of 2% year-over-year and from the prior quarter, while client deposits remained stable.

Heritage Commerce Corp reported a net income of $15.8 million for Q3 2023, a decrease compared to both Q3 2022 and Q2 2023. Despite the quarterly decrease, year-to-date net income increased by 12% compared to the first nine months of 2022, driven by deposit growth, loan demand and net interest income. The net interest margin contracted during the third quarter due to deposit pricing.

Heritage Commerce Corp reported a net income of $16.4 million for the second quarter of 2023, an 11% increase compared to the second quarter of 2022. Diluted earnings per share were $0.27. The company's total liquidity and borrowing capacity was $3.113 billion as of June 30, 2023.

Heritage Commerce Corp reported a net income of $18.9 million for the first quarter of 2023, a 47% increase compared to the same period last year. Total deposits increased by $54.9 million from the linked quarter to $4.445 billion.

Heritage Commerce Corp's Q4 2022 net income increased 49% to $20.8 million, or $0.34 per average diluted common share, compared to $14.0 million, or $0.23 per average diluted common share, for the fourth quarter of 2021.

Heritage Commerce Corp reported a net income of $18.1 million for Q3 2022, an increase of 32% compared to Q3 2021. The company's net interest margin improved to 3.73%, driven by a shift in earning assets. Loan growth, excluding SBA PPP loans and residential mortgages, increased by 10% year-over-year.

Heritage Commerce Corp reported net income of $14.8 million for the second quarter of 2022, an increase compared to $8.8 million for the same period in 2021. The annualized return on average tangible equity was 14.06%, and the efficiency ratio was 52.73%.

Heritage Commerce Corp reported a net income of $12.9 million for Q1 2022, a rise from $11.2 million in Q1 2021. Diluted earnings per share were $0.21, compared to $0.19 in the same quarter last year. The results reflect growth in net interest income and noninterest income, supported by healthy loan and deposit growth and excellent credit quality.

Heritage Commerce Corp reported a record net income of $14.0 million for Q4 2021, a 20% increase compared to Q4 2020. The company's performance was boosted by 11% growth in net interest income and an improving efficiency ratio.

Heritage Commerce Corp announced record third quarter net income of $13.7 million, or $0.23 per average diluted common share. This compares to $11.2 million, or $0.19 per average diluted common share, for the third quarter of 2020, and $8.8 million, or $0.15 per average diluted common share, for the second quarter of 2021.

Heritage Commerce Corp reported a net income of $8.8 million for Q2 2021, a decrease compared to $10.6 million in Q2 2020. The results were impacted by a $4.0 million reserve for a legal settlement. However, core loans and total deposits saw increases, indicating a positive trend in the local economy.

Heritage Commerce Corp reported a strong first quarter in 2021, with net income reaching $11.2 million, or $0.19 per diluted share, driven by a recapture of provision for credit losses on loans and solid financial performance amidst the COVID-19 crisis.

Heritage Commerce Corp reported a net income of $11.6 million for Q4 2020, a significant increase from $5.7 million in Q4 2019. The increase was driven by solid earnings and improved credit quality. The company's capital and liquidity positions remained strong.

Heritage Commerce Corp reported a net income of $11.2 million for the third quarter of 2020, with earnings per diluted share at $0.19. The results reflect a solid performance amidst the challenges of the Coronavirus pandemic, with steady loan and deposit trends and a notable increase in noninterest income.

Heritage Commerce Corp reported a net income of $10.6 million for the second quarter of 2020, a decrease compared to the $11.4 million reported in the same quarter of the previous year. The company's EPS also decreased from $0.26 in Q2 2019 to $0.18 in Q2 2020. The results were impacted by the ongoing Coronavirus pandemic, but were improved from Q1 2020.

Heritage Commerce Corp reported a net income of $1.9 million for Q1 2020, a significant decrease compared to $12.1 million in Q1 2019. The results were impacted by a $13.3 million pre-tax CECL related provision for credit losses and $2.4 million of pre-tax merger-related costs.

Heritage Commerce Corp reported a net income of $5.7 million for Q4 2019, a decrease compared to Q4 2018, but ended the year with total assets over $4.1 billion following the completion of the Presidio Bank merger.