Heritage Bank

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.

Key Points: 
  • 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.

Key Points: 
  • 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
Banking, Professional Services, Finance, FDIC, FBMS, First Bank, ACL, Appendix, Conference, Acquisition, FTE, Growth, Central Time, Credit, Table, IDFC First Bank, Heritage Bank, O'Hara, U.S. Treasury, Cryptocurrency, Rare-earth element, Clothing, Video game, Security (finance), Pharmaceutical industry, Bank, United States Department of the Treasury

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.

Key Points: 
  • 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.

Suzanne Crocker Joins Heritage Bank of Commerce as Senior Vice President, Marketing and Communications

Retrieved on: 
Tuesday, August 29, 2023
Advertising, Senior, Marketing, Communication, HBC, Heritage Bank, SAN, Bank, Social media, PR, Commerce, Management

SAN JOSE, Calif., Aug. 29, 2023 (GLOBE NEWSWIRE) -- Heritage Bank of Commerce (the “Bank” or “HBC”), a subsidiary of Heritage Commerce Corp (Nasdaq: HTBK), today announced the appointment of Suzanne Crocker as Senior Vice President, Marketing and Communications.

Key Points: 
  • SAN JOSE, Calif., Aug. 29, 2023 (GLOBE NEWSWIRE) -- Heritage Bank of Commerce (the “Bank” or “HBC”), a subsidiary of Heritage Commerce Corp (Nasdaq: HTBK), today announced the appointment of Suzanne Crocker as Senior Vice President, Marketing and Communications.
  • With more than 20 years of experience leading key marketing and communications efforts across the financial services industry, Ms. Crocker will be responsible for driving the Bank’s strategic initiatives supporting and enhancing client experience.
  • "We're excited to introduce Suzanne Crocker as our Senior Vice President of Marketing and Communications,” stated Clay Jones, President and Chief Executive Officer.
  • "I couldn't be more excited to join the team at Heritage Bank of Commerce," said Ms. Crocker.

Heritage Bank of Commerce Hires Susan Just as Chief Credit Officer

Retrieved on: 
Monday, July 31, 2023
Federal Deposit Insurance Corporation, San Francisco Bay Area, Executive, Kellogg School of Management, Policy, TCF Bank, Clay, JPMorgan Chase, Northern Trust, Loyola University, Marketing, Business administration, Heritage Bank, Retirement, SAN, Heritage, SBA, J. P. Morgan, Bank, Master of Business Administration, Northwestern University, Loyola University Chicago, Commerce, Management, Creative industries

SAN JOSE, Calif., July 31, 2023 (GLOBE NEWSWIRE) -- Heritage Bank of Commerce (the “Bank”), a subsidiary of Heritage Commerce Corp (Nasdaq: HTBK), today announced the appointment of Susan Just as Executive Vice President and Chief Credit Officer, effective September 7, 2023. She will replace the current Executive Vice President and Chief Credit Officer, Margo Butsch, who recently announced her retirement. Ms. Butsch has agreed to assist in an orderly transition process.

Key Points: 
  • SAN JOSE, Calif., July 31, 2023 (GLOBE NEWSWIRE) -- Heritage Bank of Commerce (the “Bank”), a subsidiary of Heritage Commerce Corp (Nasdaq: HTBK), today announced the appointment of Susan Just as Executive Vice President and Chief Credit Officer, effective September 7, 2023.
  • She will replace the current Executive Vice President and Chief Credit Officer, Margo Butsch, who recently announced her retirement.
  • Ms. Just brings nearly 30 years of credit administration expertise and was most recently the Executive Vice President, Chief Credit Officer of Santa Cruz County Bank.
  • “We are thrilled to welcome Susan to the team,” said Clay Jones, President and Chief Executive Officer at Heritage Bank of Commerce.

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

Retrieved on: 
Thursday, July 27, 2023
SBA, Heritage Bank, SAN, Commerce

SAN JOSE, Calif., July 27, 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.

Key Points: 
  • SAN JOSE, Calif., July 27, 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 August 24, 2023, to shareholders of record at the close of the business day on August 10, 2023.
  • Heritage Commerce Corp has paid a quarterly cash dividend since 2013.
  • “With our Company’s sound underlying earnings, strong capital and substantial liquidity position, we are pleased to consistently reward our shareholders for their loyalty with our regular quarterly cash dividend,” said Clay Jones, President and Chief Executive Officer.

The First Bancshares, Inc. Reports Results for Second Quarter Ended June 30, 2023; Increases Quarterly Dividend 5%

Retrieved on: 
Wednesday, July 26, 2023
Banking, Professional Services, Finance, Table, Current Expected Credit Losses, GAAP, First Bank, Central Time, LPO, FBMS, Heritage Bank, Acquisition, Appendix, Growth, IDFC First Bank, ACL, Environment, Conference, Cryptocurrency, Rare-earth element, Video game, Bank, Financial services, Security (finance), Real estate, Pharmaceutical industry

Annualized net interest margin increased 13 bps to 3.76% for the quarter ended June 30, 2023 from 3.63% for the quarter ended March 31, 2023.

Key Points: 
  • Annualized net interest margin increased 13 bps to 3.76% for the quarter ended June 30, 2023 from 3.63% for the quarter ended March 31, 2023.
  • The Company recorded a provision for credit losses of $1.3 million for the quarter ended June 30, 2023 and $11.0 million for the quarter ended March 31, 2023.
  • For the second quarter of 2023, diluted earnings per share were $0.75, compared to $0.52 for the first quarter of 2023 and $0.76 for the second quarter of 2022.
  • Diluted earnings per share, operating (non-GAAP) were $0.85 for the second quarter of 2023 compared to $0.86 for the first quarter of 2023 and $0.80 for the second quarter of 2022.

MC Bancshares, Inc. to Acquire Heritage NOLA Bancorp, Inc.

Retrieved on: 
Friday, July 7, 2023
OTC Markets Group, Employment, Tripura Merger Agreement, Culture, L.L.C, Heritage Bank, Heritage Bank (Nigeria), Capital city, Security (finance), Bank

and COVINGTON, La., July 6, 2023 /PRNewswire/ -- MC Bancshares, Inc. ("MC Bancshares"), the holding company for M C Bank & Trust Company ("M C Bank"), a Louisiana-chartered bank headquartered in Morgan City, Louisiana, and Heritage NOLA Bancorp, Inc. ("Heritage NOLA Bancorp") (OTC Pink Marketplace: "HRGG"), the holding company of Heritage Bank of St. Tammany ("Heritage Bank"), a federally chartered savings bank headquartered in Covington, Louisiana, have jointly announced today that they have entered into a definitive merger agreement (the "Merger Agreement") in which MC Bancshares will acquire Heritage NOLA Bancorp.

Key Points: 
  • and COVINGTON, La., July 6, 2023 /PRNewswire/ -- MC Bancshares, Inc. ("MC Bancshares"), the holding company for M C Bank & Trust Company ("M C Bank"), a Louisiana-chartered bank headquartered in Morgan City, Louisiana, and Heritage NOLA Bancorp, Inc. ("Heritage NOLA Bancorp") (OTC Pink Marketplace: "HRGG"), the holding company of Heritage Bank of St. Tammany ("Heritage Bank"), a federally chartered savings bank headquartered in Covington, Louisiana, have jointly announced today that they have entered into a definitive merger agreement (the "Merger Agreement") in which MC Bancshares will acquire Heritage NOLA Bancorp.
  • David Crumhorn, President and Chief Executive Officer of Heritage NOLA Bancorp and Heritage Bank, stated, "We are thrilled about this combination with M C Bank.
  • Raymond James & Associates, Inc., is acting as financial advisor to Heritage NOLA Bancorp and rendered a fairness opinion to the Board of Directors of Heritage NOLA Bancorp in conjunction with this transaction.
  • Luse Gorman is serving as legal counsel to Heritage NOLA Bancorp and Heritage Bank.

Heritage Commerce Corp announces retirement of Margo Butsch, Executive Vice President and Chief Credit Officer

Retrieved on: 
Thursday, June 15, 2023
Heritage Bank, Retirement, SAN, SBA, Bank, United, Safety, Commerce

SAN JOSE, Calif., June 15, 2023 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (NASDAQ: HTBK) (the "Company"), parent of Heritage Bank of Commerce (the "Bank"), today announced that Margo Butsch will be retiring from her position as Executive Vice President and Chief Credit Officer, after eight years with the Bank.

Key Points: 
  • SAN JOSE, Calif., June 15, 2023 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (NASDAQ: HTBK) (the "Company"), parent of Heritage Bank of Commerce (the "Bank"), today announced that Margo Butsch will be retiring from her position as Executive Vice President and Chief Credit Officer, after eight years with the Bank.
  • "On behalf of the Board of Directors and the management team, we express our sincerest gratitude to Margo for her loyal service with our Company," said Clay Jones, President and Chief Executive Officer.
  • The Bank will appoint a new Chief Credit Officer following an orderly internal and external executive search.
  • "Margo has created a strong team and a solid credit culture that will allow for a smooth transition to her successor."

Heritage Commerce Corp Awarded the Eleventh Annual Raymond James Community Bankers Cup

Retrieved on: 
Wednesday, June 7, 2023
Heritage Bank, Community, SAN, SBA, Bank, Commerce

SAN JOSE, Calif., June 07, 2023 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (NASDAQ: HTBK) (the "Company"), parent of Heritage Bank of Commerce (the "Bank"), has been awarded the 2022 Raymond James Community Bankers Cup, which recognizes the top 10% of community banks in the nation based on various profitability, operational efficiency and balance sheet metrics.

Key Points: 
  • SAN JOSE, Calif., June 07, 2023 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (NASDAQ: HTBK) (the "Company"), parent of Heritage Bank of Commerce (the "Bank"), has been awarded the 2022 Raymond James Community Bankers Cup, which recognizes the top 10% of community banks in the nation based on various profitability, operational efficiency and balance sheet metrics.
  • Their efforts have not only positively impacted the Company and the community but also greatly contributed to the Bank’s success.”
    Of the 216 community banks that were considered for the 2022 Community Bankers Cup, Heritage Commerce Corp ranked 10th out of the top 22 banks chosen, which places it in the top 5% of all community banks considered for the award; the winners demonstrating superior financial performance and stability.
  • Heritage Bank of Commerce is an SBA Preferred Lender.
  • Bay View Funding, a subsidiary of Heritage Bank of Commerce, is based in San Jose, CA and provides business-essential working capital factoring financing to various industries throughout the United States.