Heritage Bank

Heritage Bank of Commerce Ranked 25th on S&P Global Market Intelligence List of Top 50 Best-Performing Community Banks

Retrieved on:

Wednesday, April 3, 2024

Heritage Bank, Financial management, S&P Global, SAN, Commerce, Bank, Risk management, Growth, Development

SAN JOSE, Calif., April 03, 2024 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (NASDAQ: HTBK) (the "Company") announced that Heritage Bank of Commerce (the "Bank") has been ranked 25th on S&P Global Market Intelligence's top 50 list of best-performing community banks with assets between $3 billion and $10 billion.

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SAN JOSE, Calif., April 03, 2024 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (NASDAQ: HTBK) (the "Company") announced that Heritage Bank of Commerce (the "Bank") has been ranked 25th on S&P Global Market Intelligence's top 50 list of best-performing community banks with assets between $3 billion and $10 billion.
This prestigious recognition underscores the Bank’s commitment to excellence, sound financial management, and dedication to serving its community.
"Heritage Bank of Commerce has long been dedicated to fostering strong relationships with our clients while maintaining a focus on prudent risk management and sustainable growth," said Clay Jones, President and Chief Executive Officer at Heritage Bank of Commerce.
S&P Global Market Intelligence ranks financial institutions based on several key factors including returns, growth, and funding, with a particular emphasis on the strength and risk profile of balance sheets.

Sean Brennan Appointed to First Fed Board

Retrieved on:

Wednesday, March 27, 2024

Seattle University, Growth, U.S. Bancorp, Acquisition, Washington Trust Bank, Senior, Housing, Heritage Bank

PORT ANGELES, Wash., March 27, 2024 (GLOBE NEWSWIRE) -- First Fed Bank, subsidiary of First Northwest Bancorp (NASDAQ: FNWB), announced today that Sean Brennan has been appointed to the Board of Directors.

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PORT ANGELES, Wash., March 27, 2024 (GLOBE NEWSWIRE) -- First Fed Bank, subsidiary of First Northwest Bancorp (NASDAQ: FNWB), announced today that Sean Brennan has been appointed to the Board of Directors.
"Sean is a respected, results-oriented leader with over 35 years of financial industry experience.
Sean will bring valuable insight and diligent oversight to our board,” said Matt Deines, President and CEO of First Fed Bank and FNWB.
Prior to cofounding Puget Sound Bank, Brennan held leadership roles at Washington Trust Bank and US Bancorp.

ALOM CEO Hannah Kain Receives Lifetime Achievement Award by SDCE

Retrieved on:

Wednesday, March 20, 2024

FREMONT, Calif., March 20, 2024 /PRNewswire-PRWeb/ -- Hannah Kain, President and CEO of ALOM, a global leader in supply chain management, has been honored for Lifetime Achievement in the 2024 SDCE Supply Chain Pros to Know award competition. Kain founded ALOM in 1997 in Silicon Valley, CA, and has since led the company to become a world-class organization dedicated to achieving the supply chain goals of Fortune 500 companies and emerging leaders throughout the U.S. and around the globe.

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FREMONT, Calif., March 20, 2024 /PRNewswire-PRWeb/ -- Hannah Kain, President and CEO of ALOM, a global leader in supply chain management, has been honored for Lifetime Achievement in the 2024 SDCE Supply Chain Pros to Know award competition.
Reflecting her technical and leadership accomplishments, Kain has for the last ten years been named as a Supply & Demand Chain Executive Pros to Know Award recipient culminating in this year's Lifetime Achievement recognition.
Kain's vision when founding ALOM was to create a supply chain partner solving customer challenges with flawless execution, technology leadership, and operational flexibility.
Twenty-seven years ago, as a woman executive in a male-dominated industry, Kain faced and overcame many instances of gender-based bias.

Heritage NOLA Bancorp, Inc. Announces Application Status and Shareholder Approval for Proposed Merger With M C Bancshares, Inc.

Retrieved on:

Wednesday, March 13, 2024

OTC Markets Group, Heritage Bank, Mergers and acquisitions

COVINGTON, La., March 13, 2024 /PRNewswire/ -- Heritage NOLA Bancorp, Inc. (the "Company") (OTC Pink Marketplace: "HRGG"), the holding company of Heritage Bank of St. Tammany, Covington, Louisiana, announced today that it has been informed that M C Bancshares, Inc. ("M C Bancshares") and M C Bank & Trust Company, Morgan City, Louisiana, have withdrawn their applications to acquire the Company (the "Merger").

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COVINGTON, La., March 13, 2024 /PRNewswire/ -- Heritage NOLA Bancorp, Inc. (the "Company") (OTC Pink Marketplace: "HRGG"), the holding company of Heritage Bank of St. Tammany, Covington, Louisiana, announced today that it has been informed that M C Bancshares, Inc. ("M C Bancshares") and M C Bank & Trust Company, Morgan City, Louisiana, have withdrawn their applications to acquire the Company (the "Merger").
However, the merger agreement among the parties remains in effect at this time and M C Bancshares, in consultation with the Company, is evaluating the refiling of applications in the near term.
At this time, the Company is unable to provide any additional information as to whether or when the Merger will close.
The Company's shareholders approved the Merger at a special meeting of shareholders on October 5, 2023.

Heritage Financial Corporation Announces that Director Eric K. Chan Resigned from the Board of Directors

Retrieved on:

Wednesday, February 7, 2024

Bank, Chairperson, Heritage, Gap, Heritage Bank

OLYMPIA, Wash., Feb. 7, 2024 /PRNewswire/ -- Heritage Financial Corporation ("Company") (Nasdaq: HFWA), the holding company for Heritage Bank ("Bank"), announced that on February 6, 2024 Director Eric K. Chan announced that he resigned from the Boards of Directors of the Company and the Bank effective as of that date.

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OLYMPIA, Wash., Feb. 7, 2024 /PRNewswire/ -- Heritage Financial Corporation ("Company") (Nasdaq: HFWA), the holding company for Heritage Bank ("Bank"), announced that on February 6, 2024 Director Eric K. Chan announced that he resigned from the Boards of Directors of the Company and the Bank effective as of that date.
Mr. Chan was appointed to the Board on January 1, 2023, and resigned as the result of his new position of Chief Business and Strategy Officer at The Gap.
Brian L. Vance, Board Chair, commented, "We are sorry to see Eric resign his board position with us.
He has been a valuable resource to the Board during his tenure with Heritage, and we wish him the best with his new position with The Gap."

Heritage Commerce Corp Declares Regular Quarterly Cash Dividend of $0.13 Per Share; Heritage Bank of Commerce Celebrates its 30th Anniversary

Retrieved on:

Friday, January 26, 2024

SAN, Bank, Commerce, Heritage Bank, SBA, Security (finance), Growth

SAN JOSE, Calif., Jan. 25, 2024 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (Nasdaq: HTBK), the holding company for Heritage Bank of Commerce (the “Bank”), today announced that its Board of Directors had declared its regular quarterly cash dividend of $0.13 per share to holders of its common stock.

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SAN JOSE, Calif., Jan. 25, 2024 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (Nasdaq: HTBK), the holding company for Heritage Bank of Commerce (the “Bank”), today announced that its Board of Directors had declared its regular quarterly cash dividend of $0.13 per share to holders of its common stock.
The dividend will be payable on February 22, 2024, to shareholders of record at the close of the business day on February 8, 2024.
Heritage Commerce Corp has paid a cash dividend each quarter since 2013.
“Looking ahead, 2024 holds a special significance for the Bank as we celebrate our 30th Anniversary.

The First Bancshares, Inc. Reports Results for Fourth Quarter ended December 31, 2023; Increases Quarterly Dividend 4%

Retrieved on:

Wednesday, January 24, 2024

Banking, Professional Services, Finance, FDIC, First Bank, Table, ACL, Central Time, Appendix, FTE, Heritage Bank, Sale, First, Acquisition, Conference, FBMS, Federal Reserve Bank, Cryptocurrency

For the quarter ended December 31, 2023, total loans increased $80.2 million, or 6.3%, on an annualized basis, as compared to the quarter ended September 30, 2023.

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For the quarter ended December 31, 2023, total loans increased $80.2 million, or 6.3%, on an annualized basis, as compared to the quarter ended September 30, 2023.
Core net interest margin (non-GAAP) decreased 13 basis points during the quarter ended December 31, 2023 from 3.27% to 3.14%.
Cost of deposits averaged 154 basis points for the fourth quarter of 2023 compared to 121 basis points for the third quarter 2023.
The Company recorded a provision for credit losses of $1.3 million for the quarter ended December 31, 2023 and $1.0 million for the quarter ended September 30, 2023.

QuickLogic Announces the Amendment and Extension of Credit Facility

Retrieved on:

Tuesday, December 12, 2023

SAN, Senior, Security (finance), IP, Field-programmable gate array, Seventh, FPGA, Credit, Partnership, Heritage Bank

The Seventh Amendment increases the credit facility from $15M to $20M and extends the maturity date from December 31, 2024 to December 31, 2025.

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The Seventh Amendment increases the credit facility from $15M to $20M and extends the maturity date from December 31, 2024 to December 31, 2025.
"We are pleased to have the continued support of Heritage Bank," said Chief Financial Officer, Elias Nader.
"Increasing our credit facility provides us with enhanced operational flexibility for our business needs while recognizing our solid financial results and improving business outlook."
Additional details on the terms of the amendment are available in the 8-K filed with the Securities and Exchange Commission on December 12, 2023.

Heritage Commerce Corp Declares Regular Quarterly Cash Dividend of $0.13 Per Share

Retrieved on:

Thursday, October 26, 2023

Commerce, Heritage Bank, Securities and Exchange Commission of Pakistan, SBA, Security (finance), SAN, Creative industries

SAN JOSE, Calif., Oct. 26, 2023 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (Nasdaq: HTBK), the holding company for Heritage Bank of Commerce, today announced that its Board of Directors declared its regular quarterly cash dividend of $0.13 per share to holders of common stock.

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SAN JOSE, Calif., Oct. 26, 2023 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (Nasdaq: HTBK), the holding company for Heritage Bank of Commerce, today announced that its Board of Directors declared its regular quarterly cash dividend of $0.13 per share to holders of common stock.
The dividend will be payable on November 21, 2023, to shareholders of record at the close of the business day on November 7, 2023.
Heritage Commerce Corp has paid a quarterly cash dividend since 2013.
"With our robust financial position, we continue to maintain a consistent cash dividend while executing our strategic plan," remarked Clay Jones, President and Chief Executive Officer.

The First Bancshares, Inc. Reports Results for Third Quarter ended September 30, 2023; Increases Quarterly Dividend 4%

Retrieved on:

Thursday, October 26, 2023

Net income available to common shareholders totaled $24.4 million for the quarter ended September 30, 2023, representing an increase of 2.4% when compared to $23.8 million for the quarter ended June 30, 2023.

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Net income available to common shareholders totaled $24.4 million for the quarter ended September 30, 2023, representing an increase of 2.4% when compared to $23.8 million for the quarter ended June 30, 2023.
Total loans increased $78.9 million for the quarter ended September 30, 2023, representing net growth of 6.3% on an annualized basis, as compared to the quarter ended June 30, 2023.
Net income available to common shareholders totaled $24.4 million for the quarter ended September 30, 2023, an increase of $0.6 million, or 2.4%, when compared to $23.8 million for the quarter ended June 30, 2023.
The Company recorded a provision for credit losses of $1.0 million for the quarter ended September 30, 2023 and $1.3 million for the quarter ended June 30, 2023.