Loading...
•
Dec 31, 2019
Heritage Commerce Q4 2019 Earnings Report
Reported earnings of $5.7 million, merger with Presidio Bank completed.
Key Takeaways
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.
Net income for Q4 2019 was $5.7 million, or $0.10 per diluted share, compared to $13.2 million, or $0.30 per diluted share, for Q4 2018.
The merger with Presidio Bank was completed on October 11, 2019.
Total assets reached over $4.1 billion, with $2.5 billion in total loans and $3.4 billion in total deposits.
Noninterest-bearing deposits increased 42% year-over-year, representing 42% of total deposits.
Forward Guidance
The company is planning its systems conversion and integration of Presidio during the first quarter of 2020, for which it will incur anticipated additional merger-related costs.
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...