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Dec 31, 2021
Heritage Commerce Q4 2021 Earnings Report
Heritage Commerce Corp achieved record earnings due to growth in net interest income, return on tangible equity, return on tangible assets and improving efficiency ratio.
Key Takeaways
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.
Net income for the fourth quarter of 2021 increased 20% over the fourth quarter a year ago.
Loan portfolio grew 18% from a year ago to $3.09 billion.
Total deposits grew 22% to $4.76 billion year-over-year.
Nonperforming assets decreased 52% in the fourth quarter of 2021 from a year ago.
Heritage Commerce
Heritage Commerce
Forward Guidance
The company did not provide any forward guidance in the earnings report.