Loading...
•
Mar 31, 2023
Heritage Commerce Q1 2023 Earnings Report
Net income increased due to year-over-year growth in net interest and noninterest income, higher net interest margin, and improved efficiency ratio.
Key Takeaways
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.
Net income increased 47% year-over-year to $18.9 million, or $0.31 per diluted share.
Total deposits increased by $54.9 million from the linked quarter to $4.445 billion.
Provision for credit losses on loans was $32,000.
The Company’s total liquidity and borrowing capacity was $3.073 billion, of which $2.773 billion was remaining available at March 31, 2023.
Forward Guidance
The press release does not contain any forward guidance.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...