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.
Heritage Commerce
Heritage Commerce
Forward Guidance
The press release does not contain any forward guidance.