Heritage Commerce Corp Reviews Consumer Deposit Development of 6% within the Third Quarter of 2024

Heritage Commerce Corp (HTBK) reported web earnings of $10.5 million ($0.17 per diluted share) for Q3 2024, up from $9.2 million in Q2 2024 however down from $15.8 million in Q3 2023. The quarter highlighted a 6% development in complete deposits and a 7% improve in noninterest-bearing demand deposits in comparison with the earlier quarter. Core loans grew by $148.3 million (5%) during the last 12 months and $35.7 million (1%) from the prior quarter. Web curiosity earnings elevated 1% to $39.9 million in Q3 2024 in comparison with Q2, whereas the web curiosity margin contracted 9 foundation factors to three.17%.

Constructive

Quarter-over-quarter web earnings elevated from $9.2M to $10.5M

Complete deposits grew 6% in comparison with earlier quarter

Noninterest-bearing demand deposits elevated 7% quarter-over-quarter

Core loans grew 5% year-over-year ($148.3M improve)

Web curiosity earnings elevated 1% to $39.9M in comparison with earlier quarter

Unfavorable

12 months-over-year web earnings declined from $15.8M to $10.5M (-34%)

9-month web earnings decreased from $51.1M to $29.9M (-41%)

Web curiosity margin contracted 40 foundation factors YoY to three.17%

Web curiosity earnings decreased 12% in comparison with Q3 2023

Insights

The Q3 2024 outcomes present blended indicators for Heritage Commerce Corp. Web earnings elevated to $10.5 million ($0.17 per share) from Q2’s $9.2 million, however declined considerably from Q3 2023’s $15.8 million. The deposit development of 6% quarter-over-quarter is especially noteworthy, with noninterest-bearing deposits up 7%, indicating robust consumer confidence regardless of market turbulence.

Key considerations embody margin stress, with web curiosity margin contracting to 3.17% from 3.26% in Q2 and 3.57% year-over-year. Whereas core loans confirmed modest development of 1% quarter-over-quarter, the rate of interest sensitivity evaluation reveals important draw back threat, with potential web curiosity earnings declining as much as 25.9% in a -400bps state of affairs.

The financial institution’s threat profile seems well-managed however faces challenges. The rate of interest sensitivity evaluation reveals uneven threat publicity – potential upside of 13.6% in web curiosity earnings below a +400bps state of affairs versus a bigger draw back of 25.9% in a -400bps state of affairs. The financial worth of fairness affect is much more pronounced, with potential losses of as much as 39.4% in extreme down-rate situations.

Credit score high quality stays robust with low nonperforming property and web charge-offs. The diversified funding sources and rising deposit base present good liquidity buffers, although the declining proportion of noninterest-bearing deposits impacts profitability.

10/24/2024 – 06:00 PM

SAN JOSE, Calif., Oct. 24, 2024 (GLOBE NEWSWIRE) — Heritage Commerce Corp (Nasdaq: HTBK), (the “Firm”), the holding firm for Heritage Financial institution of Commerce (the “Financial institution”), at present introduced that its third quarter 2024 web earnings was $10.5 million, or $0.17 per common diluted frequent share, in comparison with $9.2 million, or $0.15 per common diluted frequent share, for the second quarter of 2024, and $15.8 million, or $0.26 per common diluted frequent share, for the third quarter of 2023. For the 9 months ended September 30, 2024, web earnings was $29.9 million, or $0.49 per common diluted frequent share, in comparison with $51.1 million, or $0.83 per common diluted frequent share, for the 9 months ended September 30, 2023. All information are unaudited.

“The spotlight of the third quarter of 2024 was important deposit development from our shoppers all through our markets,” mentioned Clay Jones, President and Chief Government Officer. “Complete deposit balances grew 6% on the finish of the third quarter of 2024, in comparison with the prior quarter and notably, noninterest-bearing demand deposits grew 7% over the identical interval. Development in deposits was a results of the profitable conversion of recent relationships that had been impacted by the banking disruptions in our market. The mortgage portfolio had orderly development through the third quarter 2024, with core loans growing $148.3 million, or 5% during the last 12 months, whereas rising $35.7 million, or 1%, from the prior quarter. We stay optimistic concerning the development alternatives in our markets, as mortgage and deposit pipelines and total enterprise exercise stays wholesome.”

“The credit score portfolio continues to carry out very properly, with nonperforming property and web charge-offs remaining low at September 30, 2024,” mentioned Mr. Jones. “Moreover, our liquidity place stays robust, supported by entry to various different funding sources.”

“Our dedication to attaining our development and consumer service targets whereas assembly efficiency targets stays the driving drive behind our success. I want to specific my appreciation for our financial institution group members for his or her continued dedication to serving our shoppers, communities and shareholders,” mentioned Mr. Jones.

Third Quarter Ended September 30, 2024
Working Outcomes, Liquidity Place, Monetary Situation, Credit score High quality, Capital Administration and Latest Occasions

(as of, or for the intervals ended September 30, 2024, in comparison with June 30, 2024, and September 30, 2023, besides as famous):

Working Outcomes:

The next desk signifies the ratios for the annualized return on common fairness, common tangible frequent fairness, common property and common tangible property for the intervals indicated:


	For the Quarter Ended:						For the 9 Months Ended:
	September 30,		June 30,		September 30,		September 30,		September 30,
(unaudited)	2024		2024		2023		2024		2023
Return on common fairness	6.14	%	5.50	%	9.54	%	5.91	%	10.54	%
Return on common tangible frequent fairness⁽¹⁾	8.27	%	7.43	%	13.06	%	7.98	%	14.52	%
Return on common property	0.78	%	0.71	%	1.16	%	0.76	%	1.29	%
Return on common tangible property⁽¹⁾	0.81	%	0.74	%	1.20	%	0.79	%	1.33	%


(1)	It is a non-GAAP monetary measure as outlined and mentioned below “Non-GAAP Monetary Measures” beneath.

Web Curiosity Earnings:

Web curiosity earnings elevated 1% to $39.9 million for the third quarter of 2024, in comparison with $39.5 million for the second quarter of 2024. The non-GAAP absolutely tax equal (“FTE”) web curiosity margin contracted 9 foundation factors to 3.17% for the third quarter of 2024 from 3.26% for the second quarter of 2024, primarily because of larger charges paid on consumer deposits, partially offset by maturing securities invested in larger yielding in a single day funds, one extra day through the third quarter of 2024, and the next common yield on core loans.
Web curiosity earnings decreased (12%) to $39.9 million for the third quarter of 2024, in comparison with $45.4 million for the third quarter of 2023. The non-GAAP FTE web curiosity margin contracted 40 foundation factors to 3.17% for the third quarter of 2024, from 3.57% for the third quarter of 2023, primarily because of larger charges paid on consumer deposits, a lower within the common steadiness of noninterest-bearing demand deposits, and a lower in common curiosity incomes property, partially offset by the next common yield on core loans and the next common steadiness of loans.
For the primary 9 months of 2024, web curiosity earnings decreased (15%) to $119.5 million, in comparison with $140.9 million for the primary 9 months of 2023. The non-GAAP FTE web curiosity margin contracted 54 foundation factors to 3.26% for the primary 9 months of 2024, from 3.80% for the primary 9 months of 2023, primarily because of larger charges paid on consumer deposits, a lower within the common steadiness of noninterest-bearing demand deposits, and a lower in common curiosity incomes property, partially offset by a rise within the yield on core loans and in a single day funds and the next common steadiness of loans.
The next tables set forth the estimated modifications within the Firm’s annual web curiosity earnings and financial worth of fairness (a non-GAAP monetary measure) that might consequence from the designated instantaneous parallel shift in rates of interest famous, and assuming a flat steadiness sheet with constant product combine, as of September 30, 2024:


	Enhance/(Lower) in
	Estimated Web
CHANGE IN INTEREST RATES (foundation factors)	Curiosity Earnings⁽¹⁾
(in $000‘s, unaudited)	Quantity			P.c
+400	$	24,681		13.6		%
+300	$	18,438		10.2		%
+200	$	12,241		6.8		%
+100	$	6,082		3.4		%
0		—		—
−100	$	(8,242	)	(4.5	)	%
−200	$	(18,720	)	(10.3	)	%
−300	$	(31,428	)	(17.3	)	%
−400	$	(47,015	)	(25.9	)	%

	Enhance/(Lower) in
	Estimated Financial
CHANGE IN INTEREST RATES (foundation factors)	Worth of Fairness⁽¹⁾
(in $000‘s, unaudited)	Quantity			P.c
+400	$	161,338		14.0		%
+300	$	133,760		11.6		%
+200	$	98,755		8.6		%
+100	$	55,024		4.8		%
0		—		—
−100	$	(86,037	)	(7.5	)	%
−200	$	(204,813	)	(17.8	)	%
−300	$	(345,418	)	(30.1	)	%
−400	$	(452,503	)	(39.4	)	%


(1)	Computations of potential results of hypothetical rate of interest modifications are for illustrative functions solely, are primarily based on quite a few assumptions together with relative ranges of market rates of interest, mortgage prepayments and deposit decay, and shouldn’t be relied upon as indicative of precise outcomes. These projections are forward-looking and must be thought-about in gentle of the Ahead-Trying Assertion Disclaimer beneath. Precise charges paid on deposits might differ from the hypothetical rates of interest modeled because of aggressive or market components, which might have an effect on any precise affect on web curiosity earnings.

The next tables current the typical steadiness of loans excellent, curiosity earnings, and the typical yield for the intervals indicated:
- The common yield on the full mortgage portfolio decreased to 5.42% for the third quarter of 2024, in comparison with 5.49% for the second quarter of 2024.


	For the Quarter Ended							For the Quarter Ended
	September 30, 2024							June 30, 2024
	Common			Curiosity		Common		Common			Curiosity		Common
(in $000’s, unaudited)	Steadiness			Earnings		Yield		Steadiness			Earnings		Yield
Loans, core financial institution	$	2,867,076		$	39,621	5.50	%	$	2,830,260		$	38,496	5.47	%
Prepayment charges		—			4	0.00	%		—			54	0.01	%
Bay View Funding factored receivables⁽¹⁾		55,391			2,144	15.40	%		54,777			2,914	21.40	%
Bought residential mortgages		441,294			3,779	3.41	%		447,687			3,739	3.36	%
Mortgage honest worth mark / accretion		(2,621	)		233	0.03	%		(2,863	)		267	0.04	%
Complete loans (consists of loans held-for-sale)	$	3,361,140		$	45,781	5.42	%	$	3,329,861		$	45,470	5.49	%


(1)	Curiosity earnings for the third quarter and first 9 months of 2024 was lowered by an immaterial out-of-period adjustment of ($804,000).

•

The common yield on the full mortgage portfolio decreased to 5.42% for the third quarter of 2024, in comparison with 5.46% for the third quarter of 2023.

	For the Quarter Ended							For the Quarter Ended
	September 30, 2024							September 30, 2023
	Common			Curiosity		Common		Common			Curiosity		Common
(in $000’s, unaudited)	Steadiness			Earnings		Yield		Steadiness			Earnings		Yield
Loans, core financial institution	$	2,867,076		$	39,621	5.50	%	$	2,743,993		$	37,764	5.46	%
Prepayment charges		—			4	0.00	%		—			182	0.03	%
Bay View Funding factored receivables⁽¹⁾		55,391			2,144	15.40	%		51,664			2,775	21.31	%
Bought residential mortgages		441,294			3,779	3.41	%		465,471			3,811	3.25	%
Mortgage honest worth mark / accretion		(2,621	)		233	0.03	%		(3,648	)		321	0.05	%
Complete loans (consists of loans held-for-sale)	$	3,361,140		$	45,781	5.42	%	$	3,257,480		$	44,853	5.46	%


(1)	Curiosity earnings for the third quarter and first 9 months of 2024 was lowered by an immaterial out-of-period adjustment of ($804,000).

•

The common yield on the full mortgage portfolio decreased to 5.45% for the primary 9 months of 2024, in comparison with 5.46% for the primary 9 months of 2023, primarily because of a decrease common steadiness of Bay View Funding factored receivables, a lower within the accretion of mortgage buy low cost into curiosity earnings from acquired loans, and decrease prepayment charges, principally offset by the next yield on core loans for the primary 9 months of 2024.


	For the 9 Months Ended							For the 9 Months Ended
	September 30, 2024							September 30, 2023
	Common			Curiosity		Common		Common			Curiosity		Common
(in $000’s, unaudited)	Steadiness			Earnings		Yield		Steadiness			Earnings		Yield
Loans, core financial institution	$	2,831,035		$	115,838	5.47	%	$	2,716,345		$	109,354	5.38	%
Prepayment charges		—			82	0.00	%		—			393	0.02	%
Bay View Funding factored receivables⁽¹⁾		54,563			7,896	19.33	%		65,938			10,623	21.54	%
Bought residential mortgages		447,709			11,306	3.37	%		477,068			11,497	3.22	%
Mortgage honest worth mark / accretion		(2,865	)		729	0.03	%		(3,976	)		1,126	0.06	%
Complete loans (consists of loans held-for-sale)	$	3,330,442		$	135,851	5.45	%	$	3,255,375		$	132,993	5.46	%


(1)	Curiosity earnings for the third quarter and first 9 months of 2024 was lowered by an immaterial out-of-period adjustment of ($804,000).

•

In mixture, the unamortized web buy low cost on complete loans acquired was $2.5 million at September 30, 2024.

The next desk presents the typical steadiness of deposits and interest-bearing liabilities, curiosity expense, and the typical fee for the intervals indicated:


	For the Quarter Ended						For the Quarter Ended
	September 30, 2024						June 30, 2024
	Common		Curiosity		Common		Common		Curiosity		Common
(in $000’s, unaudited)	Steadiness		Expense		Price		Steadiness		Expense		Price
Deposits:
Demand, noninterest-bearing	$	1,172,304					$	1,127,145

Demand, interest-bearing		907,346	$	1,714	0.75	%		932,100	$	1,719	0.74	%
Financial savings and cash market		1,188,057		9,128	3.06	%		1,104,589		7,867	2.86	%
Time deposits – below $100		11,133		47	1.68	%		10,980		46	1.68	%
Time deposits – $100 and over		229,565		2,349	4.07	%		228,248		2,245	3.96	%
Insured Money Sweep (“ICS”)/Certificates of Deposit Registry
Service (“CDARS”) – interest-bearing demand, cash market and time deposits		1,017,541		7,747	3.03	%		991,483		7,207	2.92	%
Complete interest-bearing deposits		3,353,642		20,985	2.49	%		3,267,400		19,084	2.35	%
Complete deposits		4,525,946		20,985	1.84	%		4,394,545		19,084	1.75	%

Quick-term borrowings		32		—	0.00	%		19		—	0.00	%
Subordinated debt, web of issuance prices		39,590		538	5.41	%		39,553		538	5.47	%
Complete interest-bearing liabilities		3,393,264		21,523	2.52	%		3,306,972		19,622	2.39	%
Complete interest-bearing liabilities and demand, noninterest-bearing / price of funds	$	4,565,568	$	21,523	1.88	%	$	4,434,117	$	19,622	1.78	%

	•	The common price of complete deposits elevated to 1.72% for the primary 9 months of 2024, in comparison with 0.94% for the primary 9 months of 2023. The common price of funds elevated to 1.75% for the primary 9 months of 2024, in comparison with 1.01% for the primary 9 months of 2023.
	•	The Financial institution continues to rigorously handle deposit prices and applied price changes following the Federal Reserve Financial institution’s rate of interest discount in September 2024, to align with the altering rate of interest setting.
	•	The rise within the common price of complete deposits and the typical price of funds for the third quarter and first 9 months of 2024 was primarily because of shoppers in search of larger yields and shifting noninterest-bearing deposits to the Financial institution’s interest-bearing ICS/CDARS deposits and interest-bearing cash market accounts and will increase in market charges.

Provision for Credit score Losses on Loans:

Throughout the third quarter of 2024, we recorded a provision for credit score losses on loans of $153,000, in comparison with a $471,000 provision for credit score losses on loans for the second quarter of 2024, and a provision for credit score losses on loans of $168,000 for the third quarter of 2023.
There was a provision for credit score losses on loans of $808,000 for the 9 months ended September 30, 2024, in comparison with a $460,000 provision for credit score losses on loans for the 9 months ended September 30, 2023, primarily as a result of improve within the steadiness of complete loans.

Noninterest Earnings:

Complete noninterest earnings decreased (2%) to $2.2 million for the third quarter of 2024, in comparison with $2.3 million for the second quarter of 2024, primarily because of a achieve on proceeds from company-owned life insurance coverage and better termination charges through the second quarter of 2024. Complete noninterest earnings was comparatively flat at $2.2 million for each the third quarter of 2024 and the third quarter of 2023.
Complete noninterest earnings decreased (7%) to $6.6 million for the primary 9 months of 2024, in comparison with $7.1 million for the primary 9 months of 2023, primarily because of decrease service expenses and charges on deposit accounts, partially offset by the next achieve on proceeds from company-owned life insurance coverage for the primary 9 months of 2024.

Noninterest Expense:

Complete noninterest expense for the third quarter of 2024 decreased to $27.6 million, in comparison with $28.2 million for the second quarter of 2024, primarily because of decrease salaries and worker advantages and decrease info expertise associated bills, partially offset by larger skilled charges. Complete noninterest expense for the third quarter of 2024 elevated to $27.6 million, in comparison with $25.2 million for the third quarter of 2023, primarily because of larger salaries and worker advantages, hire expense included in occupancy and tools, {and professional} charges.
Complete noninterest expense for the primary 9 months of 2024 elevated to $83.3 million, in comparison with $75.6 million for the primary 9 months of 2023, primarily because of larger salaries and worker advantages, hire expense, and knowledge expertise associated bills, advertising and marketing associated bills, house owner affiliation vendor funds, regulatory assessments, and ICS/CDARS payment expense.
Full time equal workers had been 353 at each September 30, 2024 and June 30, 2024, in comparison with 348 at September 30, 2023.
The effectivity ratio was 65.37% for the third quarter of 2024, in comparison with 67.55% for the second quarter of 2024, and 52.89% for the third quarter of 2023. The effectivity ratio elevated to 66.08% for the 9 months ended September 30, 2024 in comparison with 51.06% for the 9 months ended September 30, 2023. The rise within the effectivity ratio for the third quarter of 2024 and 9 months ended September 30, 2024, in comparison with the respective intervals in 2023, was because of each larger noninterest expense and decrease web income. The effectivity ratio is a non-GAAP monetary measure.

Earnings Tax Expense:

Earnings tax expense was $3.9 million for the third quarter of 2024, in comparison with $3.8 million for the second quarter of 2024, and $6.5 million for the third quarter of 2023. The efficient tax fee for the third quarter of 2024 was 27.3%, in comparison with 29.4% for the second quarter of 2024, and 29.0% for the third quarter of 2023.
Earnings tax expense for the 9 months ended September 30, 2024 was $12.0 million, in comparison with $20.8 million for the 9 months ended September 30, 2023. The efficient tax fee for 9 months ended September 30, 2024 was 28.7%, in comparison with 29.0% for the 9 months ended September 30, 2023.

Liquidity Place, Monetary Situation, Credit score High quality, and Capital Administration:

Liquidity and Accessible Strains of Credit score:

The next desk reveals our liquidity, out there traces of credit score and the quantities excellent at September 30, 2024:


LIQUIDITY AND AVAILABLE LINES OF CREDIT	Complete				Remaining
(in $000’s, unaudited)	Accessible		Excellent		Accessible
Extra funds on the Federal Reserve Financial institution (“FRB”)	$	903,900	$	—	$	903,900
FRB low cost window collateralized line of credit score		1,397,326		—		1,397,326
Federal House Mortgage Financial institution collateralized borrowing capability		765,134		—		765,134
Unpledged funding securities (at honest worth)		66,158		—		66,158
Federal funds buy preparations		90,000		—		90,000
Holding firm line of credit score		25,000		—		25,000
Complete	$	3,247,518	$	—	$	3,247,518

	•	The Firm’s complete out there liquidity and borrowing capability was $3.2 billion at September 30, 2024, in comparison with $3.0 billion at June 30, 2024, and $3.1 billion at September 30, 2023.
	•	The out there liquidity and borrowing capability was 69% of the Firm’s complete deposits and roughly 147% of the Financial institution’s estimated uninsured deposits at September 30, 2024. The out there liquidity and borrowing capability was 66% of the Firm’s complete deposits and roughly 148% of the Financial institution’s estimated uninsured deposits at June 30, 2024. The out there liquidity and borrowing capability was 70% of the Firm’s complete deposits and roughly 150% of the Financial institution’s estimated uninsured deposits at September 30, 2023.
	•	The mortgage to deposit ratio was 72.11% at September 30, 2024, in comparison with 76.04% at June 30, 2024, and 71.81% at September 30, 2023.

Complete property elevated 5% to $5.6 billion at September 30, 2024, in comparison with $5.3 billion at June 30, 2024, and elevated 3% from $5.4 billion at September 30, 2023, primarily associated to development in consumer deposits and liquidity.

Funding Securities:

Funding securities totaled $841.8 million at September 30, 2024, of which $237.6 million had been within the securities available-for-sale portfolio (at honest worth), and $604.2 million had been within the securities held-to-maturity portfolio (at amortized price, web of allowance for credit score losses of $12,000). The honest worth of the securities held-to-maturity portfolio was $531.5 million at September 30, 2024.
The next desk reveals the balances of securities available-for-sale, at honest worth, and the associated pre-tax unrealized (loss) on the dates indicated:


SECURITIES AVAILABLE-FOR-SALE	September 30,			June 30,			September 30,
(in $000’s, unaudited)		2024			2024			2023
Steadiness (at honest worth):
U.S. Treasury	$	184,162		$	218,682		$	396,996
Company mortgage-backed securities		53,450			54,361			60,198
Complete	$	237,612		$	273,043		$	457,194

Pre-tax unrealized (loss):
U.S. Treasury	$	(1,440	)	$	(3,578	)	$	(9,606	)
Company mortgage-backed securities		(2,923	)		(4,815	)		(7,185	)
Complete	$	(4,363	)	$	(8,393	)	$	(16,791	)

Weighted common life (years)		1.32			1.39			1.49

	•	The pre-tax unrealized loss on the securities available-for-sale portfolio was ($4.4) million, or ($3.2) million web of taxes, which equaled lower than 1% of complete shareholders’ fairness at September 30, 2024.
	•	The discount within the securities available-for-sale portfolios was because of maturities and never because of any securities offered since June 30, 2023.

The next desk reveals the balances of securities held-to-maturity, at amortized price, and the associated pre-tax unrecognized (loss) and allowance for credit score losses on the dates indicated:


SECURITIES HELD-TO-MATURITY	September 30,			June 30,			September 30,
(in $000’s, unaudited)	2024			2024			2023
Steadiness (at amortized price):
Company mortgage-backed securities	$	573,621		$	589,386		$	632,241
Municipals — exempt from Federal tax⁽¹⁾		30,584			31,804			32,453
Complete⁽¹⁾	$	604,205		$	621,190		$	664,694

Pre-tax unrecognized (loss):
Company mortgage-backed securities	$	(71,996	)	$	(92,058	)	$	(119,932	)
Municipals — exempt from Federal tax		(676	)		(1,694	)		(2,753	)
Complete	$	(72,672	)	$	(93,752	)	$	(122,685	)

Allowance for credit score losses on municipal securities	$	(12	)	$	(12	)	$	(13	)

Weighted common life (years)		5.94			6.57			7.03


(1)	Gross of the allowance for credit score losses of ($12,000) at each September 30, 2024, and June 30, 2024, and ($13,000) at September 30, 2023.

	•	The pre-tax unrecognized loss on the securities held-to-maturity portfolio was ($72.7) million, or ($51.2) million web of taxes, which equaled 7.5% of complete shareholders’ fairness at September 30, 2024.
	•	The weighted common lifetime of the securities held-to-maturity portfolio was 5.94 years at September 30, 2024, which incorporates Neighborhood Reinvestment Act mortgage-backed securities with longer maturities.
	•	The unrealized and unrecognized losses in each the available-for-sale and held-to-maturity portfolios had been because of larger rates of interest at September 30, 2024 in comparison with when the securities had been bought. The issuers are of excessive credit score high quality and all principal quantities are anticipated to be repaid when the securities mature. The honest worth is anticipated to recuperate because the securities strategy their maturity date and/or market charges decline.

The next are the precise and/or projected money flows from paydowns and maturities within the funding securities portfolio for the intervals indicated primarily based on the present rate of interest setting:


			Company
			Mortgage-
PROJECTED INVESTMENT SECURITIES			backed and
PAYDOWNS & MATURITIES	U.S.		Municipal
(in $000’s, unaudited)	Treasury		Securities		Complete
Fourth quarter of 2024	$	9,000	$	26,727	$	35,727
First quarter of 2025		35,000		21,336		56,336
Second quarter of 2025		118,000		20,700		138,700
Third quarter of 2025		25,200		21,885		47,085
Fourth quarter of 2025		—		19,486		19,486
First quarter of 2026		—		19,001		19,001
Second quarter of 2026		—		18,349		18,349
Third quarter of 2026		—		18,645		18,645
Complete	$	187,200	$	166,129	$	353,329

•

The weighted common lifetime of the full funding securities portfolio was 4.62 years at September 30, 2024, in comparison with 4.95 years at June 30, 2024, and 4.72 years at September 30, 2023.

Loans:

The next desk summarizes the distribution of loans, excluding loans held-for-sale, and the proportion of distribution in every class on the dates indicated:


LOANS	September 30, 2024					June 30, 2024					September 30, 2023
(in $000’s, unaudited)	Steadiness			% to Complete		Steadiness			% to Complete		Steadiness			% to Complete
Business	$	481,266		14	%	$	477,929		14	%	$	430,664		13	%
Actual property:
CRE⁽¹⁾ – proprietor occupied		602,062		18	%		594,504		18	%		589,751		18	%
CRE⁽¹⁾ – non-owner occupied		1,310,578		38	%		1,283,323		38	%		1,208,324		37	%
Land and development		125,761		4	%		125,374		4	%		158,138		5	%
House fairness		124,090		4	%		126,562		4	%		124,477		4	%
Multifamily		273,103		8	%		268,968		8	%		253,129		7	%
Residential mortgages		479,524		14	%		484,809		14	%		503,006		15	%
Shopper and different		14,179		< 1	%		18,758		< 1	%		18,526		1	%
Complete Loans		3,410,563		100	%		3,380,227		100	%		3,286,015		100	%
Deferred mortgage prices (charges), web		(327	)	—			(434	)	—			(554	)	—
Loans, web of deferred prices and charges	$	3,410,236		100	%	$	3,379,793		100	%	$	3,285,461		100	%


(1)	Business Actual Property

•	Loans, excluding loans held-for-sale, elevated $30.4 million, or 1%, to $3.4 billion at September 30, 2024, from the prior quarter, and elevated $124.8 million, or 4%, from $3.3 billion at September 30, 2023. Loans, excluding residential mortgages, elevated $35.7 million, or 1%, to $2.9 billion at September 30, 2024 from June 30, 2024, and elevated $148.3 million, or 5%, from $2.8 billion at September 30, 2023.
•	Business and industrial line utilization was 31% at each September 30, 2024 and June 30, 2024, in comparison with 27% at September 30, 2023.
•	CRE loans totaled $1.9 billion at September 30, 2024, of which 31% had been proprietor occupied and 69% had been investor CRE loans. There was 32% of the CRE mortgage portfolio secured by proprietor occupied actual property at June 30, 2024, and 33% at September 30, 2023.
	•	Throughout the third quarter of 2024, there have been 41 new proprietor occupied and non-owner occupied CRE loans originated totaling $67 million with a weighted common loan-to-value (“LTV”) of 49%; the weighted common debt-service protection ratio (“DSCR”) for the non-owner occupied portfolio was 1.92 occasions.
	•	Mortgage Development continued at an orderly natural fee because the Financial institution continues to serve our shoppers locally.
	•	The common mortgage dimension for all CRE loans was $1.6 million, and the typical mortgage dimension for workplace CRE loans was $1.7 million.
	•	The Firm has private ensures on 92% of its CRE portfolio. A considerable portion of the unguaranteed CRE loans had been made to credit-worthy non-profit organizations.
	•	Complete workplace publicity (excluding medical/dental places of work) within the CRE portfolio was $419 million, together with 32 loans totaling roughly $73 million in San Jose, 19 loans totaling roughly $26 million in San Francisco, and eight loans totaling roughly $16 million, in Oakland, at September 30, 2024. Non-owner occupied CRE with workplace publicity totaled $329 million at September 30, 2024.
	•	At September 30, 2024, the weighted common LTV and DSCR for your entire non-owner occupied workplace portfolio had been 41.8% and 1.82 occasions, respectively.
	•	Complete medical/dental workplace publicity within the non-owner occupied CRE portfolio consisted of 15 loans totaling $12 million, with a weighted common LTV and DSCR of 37.4% and a pair of.41 occasions, respectively, at September 30, 2024.

	•	The next desk presents the weighted common LTV and DSCR by collateral kind for CRE loans at September 30, 2024:

	CRE – Non-owner Occupied								CRE – Proprietor Occupied						Complete CRE
COLLATERAL TYPE	Excellent			LTV			DSCR		Excellent			LTV			Excellent			LTV
Retail		26	%		38.0	%		1.89		16	%		46.3	%		23	%		39.6	%
Industrial		19	%		39.1	%		2.46		34	%		43.7	%		23	%		40.9	%
Combined-Use, Particular
Function and Different		18	%		41.6	%		1.91		34	%		40.7	%		22	%		41.2	%
Workplace		20	%		41.8	%		1.82		16	%		44.3	%		19	%		42.5	%
Multifamily		17	%		42.6	%		1.95		0	%		0.0	%		13	%		42.6	%
Resort/Motel		< 1	%		16.4	%		1.32		0	%		0.0	%		< 1	%		16.4	%
Complete		100	%		40.3	%		1.99		100	%		43.2	%		100	%		41.1	%

•

The next desk presents the weighted common LTV and DSCR by county for CRE loans at September 30, 2024:

	CRE – Non-owner Occupied								CRE – Proprietor Occupied						Complete CRE
COUNTY	Excellent			LTV			DSCR		Excellent			LTV			Excellent			LTV
Alameda		25	%		44.3	%		1.93		18	%		45.6	%		23	%		44.6	%
Contra Costa		7	%		41.8	%		1.79		8	%		47.8	%		7	%		43.5	%
Marin		7	%		46.3	%		2.02		1	%		52.4	%		5	%		46.8	%
Monterey		2	%		43.8	%		1.85		2	%		41.1	%		2	%		43.0	%
Napa		< 1	%		30.0	%		1.73		1	%		52.0	%		1	%		36.3	%
Out of Space		8	%		42.3	%		2.06		9	%		49.0	%		9	%		44.3	%
San Benito		1	%		35.1	%		2.00		3	%		39.7	%		2	%		37.5	%
San Francisco		9	%		37.5	%		1.48		4	%		39.8	%		8	%		37.8	%
San Mateo		11	%		37.5	%		2.20		15	%		40.0	%		12	%		38.3	%
Santa Clara		24	%		37.4	%		2.25		34	%		41.1	%		26	%		38.8	%
Santa Cruz		2	%		33.1	%		1.74		1	%		49.2	%		2	%		36.2	%
Solano		1	%		32.1	%		1.95		2	%		37.8	%		1	%		33.8	%
Sonoma		3	%		39.7	%		2.22		2	%		43.1	%		2	%		40.5	%
Complete		100	%		40.3	%		1.99		100	%		43.2	%		100	%		41.1	%

The next desk presents the maturity distribution of the Firm’s loans, excluding loans held-for-sale, as of September 30, 2024. The desk reveals the distribution of such loans between these loans with predetermined (mounted) rates of interest and people with variable (floating) rates of interest. Floating charges usually fluctuate with modifications within the prime fee as mirrored within the Western Version of The Wall Avenue Journal, and contractual repricing dates.


	Due in				Over One 12 months However
LOAN MATURITIES	One 12 months or Much less				Much less than 5 Years				Over 5 Years
(in $000’s, unaudited)	Steadiness		% to Complete		Steadiness		% to Complete		Steadiness		% to Complete		Complete
Loans with variable rates of interest	$	375,424	44	%	$	227,201	27	%	$	247,622	29	%	$	850,247
Loans with mounted rates of interest		141,906	6	%		767,930	30	%		1,650,480	64	%		2,560,316
Loans	$	517,330	15	%	$	995,131	29	%	$	1,898,102	56	%	$	3,410,563

•

At September 30, 2024, roughly 25% of the Firm’s mortgage portfolio consisted of floating rate of interest loans, in comparison with 27% at each June 30, 2024 and September 30, 2023.

Credit score High quality:

The next desk summarizes the allowance for credit score losses on loans (“ACLL”) for the intervals indicated:


	At or For the Quarter Ended:												At or For the 9 Months Ended:
ALLOWANCE FOR CREDIT LOSSES ON LOANS	September 30,				June 30,				September 30,				September 30,				September 30,
(in $000’s, unaudited)	2024				2024				2023				2024				2023
Steadiness at starting of interval	$	47,954			$	47,888			$	47,803			$	47,958			$	47,512
Cost-offs through the interval		(474	)			(510	)			(447	)			(1,342	)			(851	)
Recoveries through the interval		186				105				178				395				581
Web (charge-offs) recoveries through the interval		(288	)			(405	)			(269	)			(947	)			(270	)
Provision for credit score losses on loans through the interval		153				471				168				808				460
Steadiness at finish of interval	$	47,819			$	47,954			$	47,702			$	47,819			$	47,702

Complete loans, web of deferred charges	$	3,410,236			$	3,379,793			$	3,285,461			$	3,410,236			$	3,285,461
Complete nonperforming loans	$	7,158			$	6,030			$	5,484			$	7,158			$	5,484
ACLL to complete loans		1.40		%		1.42		%		1.45		%		1.40		%		1.45		%
ACLL to complete nonperforming loans		668.05		%		795.26		%		869.84		%		668.05		%		869.84		%

•

The next desk reveals the drivers of change in ACLL for the primary, second, and third quarters of 2024:

DRIVERS OF CHANGE IN ACLL
(in $000’s, unaudited)
ACLL at December 31, 2023	$	47,958
Portfolio modifications through the first quarter of 2024		(234	)
Qualitative and quantitative modifications through the first quarter of 2024 together with modifications in financial forecasts		164
ACLL at March 31, 2024		47,888
Portfolio modifications through the second quarter of 2024		616
Qualitative and quantitative modifications through the second quarter of 2024 together with modifications in financial forecasts		(550	)
ACLL at June 30, 2024		47,954
Portfolio modifications through the third quarter of 2024		599
Qualitative and quantitative modifications through the third quarter of 2024 together with modifications in financial forecasts		(734	)
ACLL at September 30, 2024	$	47,819

The next is a breakout of nonperforming property (“NPAs”) on the dates indicated:


NONPERFORMING ASSETS	September 30, 2024				June 30, 2024				September 30, 2023
(in $000’s, unaudited)	Steadiness		% of Complete		Steadiness		% of Complete		Steadiness		% of Complete
Land and development loans	$	5,862	82	%	$	4,774	79	%	$	—	0	%
Business loans		752	11	%		900	15	%		1,712	31	%
Loans over 90 days overdue and nonetheless accruing		460	6	%		248	4	%		1,966	36	%
House fairness and different loans		84	1	%		108	2	%		90	2	%
Residential mortgages		—	0	%		—	0	%		1,716	31	%
CRE loans		—	0	%		—	0	%		—	0	%
Complete nonperforming property	$	7,158	100	%	$	6,030	100	%	$	5,484	100	%

There have been 10 debtors included in NPAs totaling $7.2 million, or 0.13% of complete property, at September 30, 2024, in comparison with 10 debtors totaling $6.0 million, or 0.11% of complete property at June 30, 2024, and 11 debtors totaling $5.5 million, or 0.10% of complete property, at September 30, 2023. The rise in NPAs at September 30, 2024, was primarily as a result of downgrade of a mortgage to 1 buyer totaling $1.1 million, which is properly collateralized and there have been no particular reserves for the mortgage. This improve in NPAs was partially offset by pay-offs of mortgage beforehand included in NPAs.

	•	There have been no CRE loans included in NPAs at September 30, 2024, June 30, 2024, or September 30, 2023.
	•	There have been no foreclosed property on the steadiness sheet at September 30, 2024, June 30, 2024, or September 30, 2023.
	•	There have been no Shared Nationwide Credit (“SNCs”) or materials bought participations included in NPAs or complete loans at September 30, 2024, June 30, 2024, or September 30, 2023.

Labeled property totaled $32.6 million, or 0.59% of complete property, at September 30, 2024, in comparison with $33.6 million, or 0.64% of complete property, at June 30, 2024, and $31.1 million, or 0.57% of complete property, at September 30, 2023.

Deposits:

The next desk summarizes the distribution of deposits and the proportion of distribution in every class on the dates indicated:


DEPOSITS	September 30, 2024				June 30, 2024				September 30, 2023
(in $000’s, unaudited)	Steadiness		% to Complete		Steadiness		% to Complete		Steadiness		% to Complete
Demand, noninterest-bearing	$	1,272,139	27	%	$	1,187,320	27	%	$	1,243,501	27	%
Demand, interest-bearing		913,910	19	%		928,246	21	%		1,004,185	22	%
Financial savings and cash market		1,309,676	28	%		1,126,520	25	%		1,110,640	24	%
Time deposits — below $250		39,060	1	%		39,046	1	%		43,906	1	%
Time deposits — $250 and over		196,945	4	%		203,886	4	%		252,001	6	%
ICS/CDARS — interest-bearing demand, cash market and time deposits		997,803	21	%		959,592	22	%		921,224	20	%
Complete deposits	$	4,729,533	100	%	$	4,444,610	100	%	$	4,575,457	100	%

	•	Complete deposits elevated $284.9 million, or 6%, to $4.7 billion at September 30, 2024 in comparison with $4.4 billion at June 30, 2024, and elevated $154.1 million, or 3% from $4.6 billion at September 30, 2023.
	•	Migration of consumer deposits into interest-bearing accounts resulted in a rise in ICS/CDARS deposits to $997.8 million at September 30, 2024, in comparison with $959.6 million at June 30, 2024, and $921.2 million at September 30, 2023.
	•	The Firm had 25,373 deposit accounts at September 30, 2024, with a mean steadiness of $186,000. At June 30, 2024, the Firm had 25,033 deposit accounts, with a mean steadiness of $178,000. At September 30, 2023, the Firm had 24,769 deposit accounts, with a mean steadiness of $186,000.
	•	Deposits from the Financial institution’s prime 100 consumer relationships, representing 22% of the full variety of accounts, totaled $2.2 billion, representing 47% of complete deposits, with a mean account dimension of $394,000 at September 30, 2024. At June 30, 2024, deposits from the Financial institution’s prime 100 consumer relationships, representing 21% of the full variety of accounts, totaled $2.1 billion, representing 47% of complete deposits, with a mean account dimension of $388,000. At September 30, 2023, deposits from the Financial institution’s prime 100 consumer relationships, representing 22% of the full variety of accounts, totaled $2.2 billion, representing 48% of complete deposits, with a mean account dimension of $408,000.
	•	The Financial institution’s uninsured deposits had been roughly $2.2 billion, or 47% of the Firm’s complete deposits, at September 30, 2024, in comparison with $2.0 billion, or 45% of the Firm’s complete deposits, at June 30, 2024, and $2.1 billion, or 46% of the Firm’s complete deposits, at September 30, 2023.

Capital Administration:

In July 2024, the Firm introduced that its Board of Administrators adopted a share repurchase program below which the Firm is allowed to repurchase as much as $15 million of the Firm’s shares of its issued and excellent frequent inventory. The Firm didn’t repurchase any of its frequent inventory through the third quarter of 2024.
The Firm’s consolidated capital ratios exceeded regulatory tips and the Financial institution’s capital ratios exceeded regulatory tips below the immediate corrective motion (“PCA”) regulatory tips for a well-capitalized monetary establishment, and the Basel III minimal regulatory necessities at September 30, 2024, as mirrored within the following desk:


					Nicely-capitalized
					Monetary
					Establishment		Basel III
	Heritage		Heritage		PCA		Minimal
	Commerce		Financial institution of		Regulatory		Regulatory
CAPITAL RATIOS (unaudited)	Corp		Commerce		Pointers		Necessities⁽¹⁾
Complete Capital	15.6	%	15.1	%	10.0	%	10.5	%
Tier 1 Capital	13.4	%	13.9	%	8.0	%	8.5	%
Frequent Fairness Tier 1 Capital	13.4	%	13.9	%	6.5	%	7.0	%
Tier 1 Leverage	10.0	%	10.4	%	5.0	%	4.0	%
Tangible frequent fairness / tangible property ⁽²⁾	9.5	%	9.9	%	N/A		N/A


(1)	Basel III minimal regulatory necessities for each the Firm and the Financial institution embody a 2.5% capital conservation buffer, besides the Tier 1 Leverage ratio.
(2)	It is a non-GAAP monetary measure that represents shareholders’ fairness minus goodwill and different intangible property divided by complete property minus goodwill and different intangible property.

The next desk displays the parts of accrued different complete loss, web of taxes, on the dates indicated:


ACCUMULATED OTHER COMPREHENSIVE LOSS	September 30,			June 30,			September 30,
(in $000’s, unaudited)	2024			2024			2023
Unrealized loss on securities available-for-sale	$	(3,161	)	$	(6,022	)	$	(11,985	)
Cut up greenback insurance coverage contracts legal responsibility		(2,965	)		(2,913	)		(3,234	)
Supplemental govt retirement plan legal responsibility		(2,838	)		(2,856	)		(2,343	)
Unrealized achieve on interest-only strip from SBA loans		72			76			93
Complete accrued different complete loss	$	(8,892	)	$	(11,715	)	$	(17,469	)

Tangible frequent fairness was $510.8 million at September 30, 2024, in comparison with $504.0 million at June 30, 2024, and $485.1 million at September 30, 2023. Tangible e book worth per share was $8.33 at September 30, 2024, in comparison with $8.22 at June 30, 2024, and $7.94 at September 30, 2023. Tangible frequent fairness and tangible e book worth per share are non-GAAP monetary measures.

Latest Occasions:

On October 2, 2024, the Firm introduced the appointment of Thomas A. Sa because the Chief Working Officer (“COO”) of the Firm and the Financial institution. As COO, Mr. Sa may have main accountability for banking operations, threat administration, info expertise programs, audit administration, and can assist form strategic decisioning of the Firm. Mr. Sa has greater than thirty years’ expertise in a wide range of more and more accountable positions in California-based neighborhood and regional banks, most just lately serving as President, Chief Working Officer and Chief Monetary Officer of California BanCorp and its subsidiary, California Financial institution of Commerce, which merged with Southern California Bancorp in July 2024.

Heritage Commerce Corp, a financial institution holding firm established in October 1997, is the mum or dad firm of Heritage Financial institution of Commerce, established in 1994 and headquartered in San Jose, CA with full-service branches in Danville, Fremont, Gilroy, Hollister, Livermore, Los Altos, Los Gatos, Morgan Hill, Oakland, Palo Alto, Pleasanton, Redwood Metropolis, San Francisco, San Jose, San Mateo, San Rafael, and Walnut Creek. Heritage Financial institution of Commerce is an SBA Most popular Lender. Bay View Funding, a subsidiary of Heritage Financial institution of Commerce, relies in San Jose, CA and gives business-essential working capital factoring financing to varied industries all through the USA. For extra info, please go to www.heritagecommercecorp.com. The contents of our web site aren’t integrated into, and don’t kind part of, this launch or of our filings with the Securities and Alternate Fee.

Non-GAAP Monetary Measures

Monetary outcomes are introduced in accordance with accounting rules usually accepted in the USA of America (“GAAP”) and prevailing practices within the banking business. Nonetheless, sure non-GAAP efficiency measures and ratios are utilized by administration to guage and measure the Firm’s efficiency. Administration believes these non-GAAP monetary measures are frequent within the banking business, and should improve comparability for peer comparability functions. These non-GAAP monetary measures must be supplemental to main GAAP monetary measures and shouldn’t be learn in isolation or relied upon as an alternative to main GAAP monetary measures. A reconciliation of GAAP to non-GAAP monetary measures is introduced within the tables on the finish of this earnings launch below “Reconciliation of Non-GAAP Monetary Measures.”

Ahead-Trying Assertion Disclaimer

Sure issues mentioned on this press launch represent forward-looking statements inside the which means of Part 21E of the Securities Alternate Act of 1934, as amended. Such forward-looking statements could also be deemed to incorporate, amongst different issues, statements regarding the Firm’s future monetary efficiency, projected money flows of our funding securities portfolio, the efficiency of our mortgage portfolio, estimated web curiosity earnings ensuing from a shift in rates of interest, expectation of excessive credit score high quality issuers potential to repay, in addition to statements regarding the anticipated results on the Firm’s monetary situation and outcomes of operations from anticipated developments or occasions. Any statements that replicate our perception about, confidence in, or expectations for future occasions, efficiency or situation must be thought-about forward-looking statements. Readers shouldn’t construe these statements as assurances of a given stage of efficiency, nor as guarantees that we’ll take actions that we presently anticipate to take. All statements are topic to varied dangers and uncertainties, a lot of that are outdoors our management and a few of which can fall outdoors our potential to foretell or anticipate. Accordingly, our precise outcomes might differ materially from our projected outcomes, and we might take actions or expertise occasions that we don’t presently anticipate. Dangers and uncertainties that might trigger our monetary efficiency to vary materially from our targets, plans, expectations and projections expressed in forward-looking statements embody these set forth in our filings with the Securities and Alternate Fee, Merchandise 1A of the Firm’s Quarterly Report on Kind 10-Q for the quarter ended June 30, 2024, and the next: (1) cybersecurity dangers that will have an effect on us immediately or might affect us not directly by advantage of their results on our shoppers, markets or distributors, together with our potential to determine and tackle cybersecurity dangers, together with these posed by the growing use of synthetic intelligence, equivalent to information safety breaches, “denial of service” assaults, “hacking” and identification theft affecting us, our shoppers, and our third social gathering distributors and repair suppliers; (2) geopolitical and home political developments, together with current, present and potential future wars and worldwide and multinational conflicts, acts of terrorism, riot, piracy and civil unrest, and occasions reflecting or ensuing from social instability, any of which may improve ranges of political and financial unpredictability, contribute to rising vitality and commodity costs, can have an effect on the bodily safety of our property and the property of our shoppers, and which can improve the volatility of economic markets; (3) components that have an effect on our liquidity and our potential to fulfill consumer calls for for withdrawals from deposit accounts and undrawn traces of credit score, together with our money available and the supply of funds from our personal traces of credit score; (4) market fluctuations that have an effect on the prices we pay for sources of funding, together with the curiosity we pay on deposits and on our borrowings; (5) media objects and shopper confidence as these components have an effect on our shoppers’ confidence within the banking system usually and in our financial institution particularly; (6) components that have an effect on the worth and liquidity of our funding portfolios, notably the values of securities available-for-sale; (7) results of and modifications in commerce, financial and financial insurance policies and legal guidelines, together with the rate of interest insurance policies of the Federal Open Market Committee of the Federal Reserve Board and different components that have an effect on market rates of interest usually; (8) our potential to estimate precisely, and to determine enough reserves in opposition to, the chance of loss related to our mortgage and lease portfolio and our factoring enterprise; (9) occasions and circumstances that have an effect on our debtors’ and guarantors’ monetary situation, outcomes of operations and money flows, which can, during times of financial uncertainty or decline, adversely have an effect on these debtors’ potential to repay our loans well timed and in full, or to adjust to their different obligations below our mortgage agreements with these shoppers; (10) present and future financial and market circumstances in the USA usually or within the communities we serve, together with the consequences of declines in property values and total fluctuations in financial development; (11) inflationary pressures and modifications within the rate of interest setting that cut back our margins and yields, the honest worth of economic devices or our stage of mortgage originations, or improve the extent of defaults, losses and prepayments on loans to shoppers, whether or not held within the portfolio or within the secondary market; (12) modifications within the stage of nonperforming property and cost offs and different credit score high quality measures, and their affect on the adequacy of our allowance for credit score losses and our provision for credit score losses; (13) circumstances regarding the affect of current and potential future pandemics, epidemics and different infectious sickness outbreaks that will come up sooner or later, on our shoppers, workers, companies, liquidity, monetary outcomes and total situation together with severity and period of the related uncertainties in U.S. and international markets; (14) the relative power or weak spot of the business and actual property markets the place our debtors are positioned, together with associated emptiness charges, and asset and market costs; (15) elevated capital necessities for our continuous development or as imposed by banking regulators, which can require us to boost capital at a time when capital will not be out there on favorable phrases or in any respect; (16) regulatory limits and sensible components that have an effect on Heritage Financial institution of Commerce’s potential to pay dividends to the Firm; (17) operational points stemming from, and/or capital spending necessitated by, the potential must adapt to business modifications in info expertise programs, on which we’re extremely dependent; (18) occasions that have an effect on our potential to draw, recruit, and retain certified officers and different personnel to implement our strategic plan, and that allow present and future personnel to guard and develop {our relationships} with shoppers, and to advertise our enterprise, outcomes of operations and development prospects; (19) components that have an effect on the carrying worth of the goodwill related to our earlier acquisitions; (20) impact of modifications in accounting insurance policies and practices, as could also be adopted by the regulatory businesses, in addition to the Public Firm Accounting Oversight Board, the Monetary Accounting Requirements Board and different accounting customary setters; (21) the expense and unsure decision of litigation issues whether or not occurring within the odd course of enterprise or in any other case, notably together with however not restricted to the consequences of current and ongoing developments in California labor and employment legal guidelines, rules and courtroom choices; (22) geographic and sociopolitical components that come up by advantage of the truth that we function primarily within the common San Francisco Bay Space of Northern California, together with the actual dangers of pure disasters (together with earthquakes, fires, and flooding) and different occasions that disproportionately have an effect on that area; (23) actions taken, deliberate, or introduced by federal, state, regional and native governments in response to the prevalence or menace of any of the foregoing; and (24) our success in managing the dangers concerned within the foregoing components.

Member FDIC

For added info, contact:
Debbie Reuter
EVP, Company Secretary
Direct: (408) 494-4542
Debbie.Reuter@herbank.com


	For the Quarter Ended:									P.c Change From:						For the 9 Months Ended:
CONSOLIDATED INCOME STATEMENTS	September 30,			June 30,			September 30,			June 30,			September 30,			September 30,			September 30,			P.c
(in $000’s, unaudited)	2024			2024			2023			2024			2023			2024			2023			Change
Curiosity earnings	$	61,438		$	59,077		$	60,791		4		%	1		%	$	178,066		$	175,406		2		%
Curiosity expense		21,523			19,622			15,419		10		%	40		%		58,603			34,483		70		%
Web curiosity earnings earlier than provision for credit score losses on loans		39,915			39,455			45,372		1		%	(12	)	%		119,463			140,923		(15	)	%
Provision for credit score losses on loans		153			471			168		(68	)	%	(9	)	%		808			460		76		%
Web curiosity earnings after provision for credit score losses on loans		39,762			38,984			45,204		2		%	(12	)	%		118,655			140,463		(16	)	%
Noninterest earnings:
Service expenses and charges on deposit accounts		908			891			859		2		%	6		%		2,676			3,503		(24	)	%
Enhance in money give up worth of life insurance coverage		530			521			517		2		%	3		%		1,569			1,512		4		%
Servicing earnings		108			90			62		20		%	74		%		288			297		(3	)	%
Achieve on gross sales of SBA loans		94			76			207		24		%	(55	)	%		348			482		(28	)	%
Termination charges		46			100			118		(54	)	%	(61	)	%		159			129		23		%
Achieve on proceeds from company-owned life insurance coverage		—			219			100		(100	)	%	(100	)	%		219			100		119		%
Different		554			379			353		46		%	57		%		1,304			1,033		26		%
Complete noninterest earnings		2,240			2,276			2,216		(2	)	%	1		%		6,563			7,056		(7	)	%
Noninterest expense:
Salaries and worker advantages		15,673			15,794			14,147		(1	)	%	11		%		46,976			42,943		9		%
Occupancy and tools		2,599			2,689			2,301		(3	)	%	13		%		7,731			7,123		9		%
Skilled charges		1,306			1,072			717		22		%	82		%		3,705			3,265		13		%
Different		7,977			8,633			8,006		(8	)	%	0		%		24,867			22,232		12		%
Complete noninterest expense		27,555			28,188			25,171		(2	)	%	9		%		83,279			75,563		10		%
Earnings earlier than earnings taxes		14,447			13,072			22,249		11		%	(35	)	%		41,939			71,956		(42	)	%
Earnings tax expense		3,940			3,838			6,454		3		%	(39	)	%		12,032			20,841		(42	)	%
Web earnings	$	10,507		$	9,234		$	15,795		14		%	(33	)	%	$	29,907		$	51,115		(41	)	%

PER COMMON SHARE DATA
(unaudited)
Fundamental earnings per share	$	0.17		$	0.15		$	0.26		13		%	(35	)	%	$	0.49		$	0.84		(42	)	%
Diluted earnings per share	$	0.17		$	0.15		$	0.26		13		%	(35	)	%	$	0.49		$	0.83		(41	)	%
Weighted common shares excellent – fundamental		61,295,877			61,279,914			61,093,289		0		%	0		%		61,254,138			61,012,315		0		%
Weighted common shares excellent – diluted		61,546,157			61,438,088			61,436,240		0		%	0		%		61,497,927			61,284,590		0		%
Frequent shares excellent at period-end		61,297,344			61,292,094			61,099,155		0		%	0		%		61,297,344			61,099,155		0		%
Dividend per share	$	0.13		$	0.13		$	0.13		0		%	0		%	$	0.39		$	0.39		0		%
E-book worth per share	$	11.18		$	11.08		$	10.83		1		%	3		%	$	11.18		$	10.83		3		%
Tangible e book worth per share⁽¹⁾	$	8.33		$	8.22		$	7.94		1		%	5		%	$	8.33		$	7.94		5		%

KEY FINANCIAL RATIOS
(unaudited)
Annualized return on common fairness		6.14	%		5.50	%		9.54	%	12		%	(36	)	%		5.91	%		10.54	%	(44	)	%
Annualized return on common tangible frequent fairness⁽¹⁾		8.27	%		7.43	%		13.06	%	11		%	(37	)	%		7.98	%		14.52	%	(45	)	%
Annualized return on common property		0.78	%		0.71	%		1.16	%	10		%	(33	)	%		0.76	%		1.29	%	(41	)	%
Annualized return on common tangible property⁽¹⁾		0.81	%		0.74	%		1.20	%	9		%	(33	)	%		0.79	%		1.33	%	(41	)	%
Web curiosity margin (FTE)⁽¹⁾		3.17	%		3.26	%		3.57	%	(3	)	%	(11	)	%		3.26	%		3.80	%	(14	)	%
Effectivity ratio⁽¹⁾		65.37	%		67.55	%		52.89	%	(3	)	%	24		%		66.08	%		51.06	%	29		%

AVERAGE BALANCES
(in $000’s, unaudited)
Common property	$	5,352,067		$	5,213,171		$	5,399,930		3		%	(1	)	%	$	5,248,338		$	5,316,447		(1	)	%
Common tangible property⁽¹⁾	$	5,177,114		$	5,037,673		$	5,222,692		3		%	(1	)	%	$	5,072,843		$	5,138,610		(1	)	%
Common incomes property	$	5,011,865		$	4,872,449		$	5,051,710		3		%	(1	)	%	$	4,909,240		$	4,965,613		(1	)	%
Common loans held-for-sale	$	1,493		$	1,503		$	2,765		(1	)	%	(46	)	%	$	1,913		$	3,229		(41	)	%
Common complete loans	$	3,359,647		$	3,328,358		$	3,254,715		1		%	3		%	$	3,328,529		$	3,252,146		2		%
Common deposits	$	4,525,946		$	4,394,545		$	4,573,621		3		%	(1	)	%	$	4,427,242		$	4,471,783		(1	)	%
Common demand deposits – noninterest-bearing	$	1,172,304		$	1,127,145		$	1,302,606		4		%	(10	)	%	$	1,158,891		$	1,444,744		(20	)	%
Common interest-bearing deposits	$	3,353,642		$	3,267,400		$	3,271,015		3		%	3		%	$	3,268,351		$	3,027,039		8		%
Common interest-bearing liabilities	$	3,393,264		$	3,306,972		$	3,310,485		3		%	3		%	$	3,307,926		$	3,102,723		7		%
Common fairness	$	680,404		$	675,108		$	656,973		1		%	4		%	$	675,951		$	648,341		4		%
Common tangible frequent fairness⁽¹⁾	$	505,451		$	499,610		$	479,735		1		%	5		%	$	500,456		$	470,504		6		%


(1)	It is a non-GAAP monetary measure.

	For the Quarter Ended:
CONSOLIDATED INCOME STATEMENTS	September 30,			June 30,			March 31,			December 31,			September 30,
(in $000’s, unaudited)	2024			2024			2024			2023			2023
Curiosity earnings	$	61,438		$	59,077		$	57,551		$	58,892		$	60,791
Curiosity expense		21,523			19,622			17,458			16,591			15,419
Web curiosity earnings earlier than provision for credit score losses on loans		39,915			39,455			40,093			42,301			45,372
Provision for credit score losses on loans		153			471			184			289			168
Web curiosity earnings after provision for credit score losses on loans		39,762			38,984			39,909			42,012			45,204
Noninterest earnings:
Service expenses and charges on deposit accounts		908			891			877			838			859
Enhance in money give up worth of life insurance coverage		530			521			518			519			517
Servicing earnings		108			90			90			103			62
Achieve on gross sales of SBA loans		94			76			178			—			207
Termination charges		46			100			13			25			118
Achieve on proceeds from company-owned life insurance coverage		—			219			—			25			100
Different		554			379			371			432			353
Complete noninterest earnings		2,240			2,276			2,047			1,942			2,216
Noninterest expense:
Salaries and worker advantages		15,673			15,794			15,509			13,919			14,147
Occupancy and tools		2,599			2,689			2,443			2,367			2,301
Skilled charges		1,306			1,072			1,327			1,085			717
Different		7,977			8,633			8,257			8,120			8,006
Complete noninterest expense		27,555			28,188			27,536			25,491			25,171
Earnings earlier than earnings taxes		14,447			13,072			14,420			18,463			22,249
Earnings tax expense		3,940			3,838			4,254			5,135			6,454
Web earnings	$	10,507		$	9,234		$	10,166		$	13,328		$	15,795

PER COMMON SHARE DATA
(unaudited)
Fundamental earnings per share	$	0.17		$	0.15		$	0.17		$	0.22		$	0.26
Diluted earnings per share	$	0.17		$	0.15		$	0.17		$	0.22		$	0.26
Weighted common shares excellent – fundamental		61,295,877			61,279,914			61,186,623			61,118,485			61,093,289
Weighted common shares excellent – diluted		61,546,157			61,438,088			61,470,552			61,412,816			61,436,240
Frequent shares excellent at period-end		61,297,344			61,292,094			61,253,625			61,146,835			61,099,155
Dividend per share	$	0.13		$	0.13		$	0.13		$	0.13		$	0.13
E-book worth per share	$	11.18		$	11.08		$	11.04		$	11.00		$	10.83
Tangible e book worth per share⁽¹⁾	$	8.33		$	8.22		$	8.17		$	8.12		$	7.94

KEY FINANCIAL RATIOS
(unaudited)
Annualized return on common fairness		6.14	%		5.50	%		6.08	%		7.96	%		9.54	%
Annualized return on common tangible frequent fairness⁽¹⁾		8.27	%		7.43	%		8.24	%		10.84	%		13.06	%
Annualized return on common property		0.78	%		0.71	%		0.79	%		1.00	%		1.16	%
Annualized return on common tangible property⁽¹⁾		0.81	%		0.74	%		0.82	%		1.04	%		1.20	%
Web curiosity margin (FTE)⁽¹⁾		3.17	%		3.26	%		3.34	%		3.41	%		3.57	%
Effectivity ratio⁽¹⁾		65.37	%		67.55	%		65.34	%		57.62	%		52.89	%

AVERAGE BALANCES
(in $000’s, unaudited)
Common property	$	5,352,067		$	5,213,171		$	5,178,636		$	5,264,905		$	5,399,930
Common tangible property⁽¹⁾	$	5,177,114		$	5,037,673		$	5,002,597		$	5,088,264		$	5,222,692
Common incomes property	$	5,011,865		$	4,872,449		$	4,842,279		$	4,923,582		$	5,051,710
Common loans held-for-sale	$	1,493		$	1,503		$	2,749		$	1,612		$	2,765
Common complete loans	$	3,359,647		$	3,328,358		$	3,297,240		$	3,280,817		$	3,254,715
Common deposits	$	4,525,946		$	4,394,545		$	4,360,150		$	4,454,750		$	4,573,621
Common demand deposits – noninterest-bearing	$	1,172,304		$	1,127,145		$	1,177,078		$	1,243,222		$	1,302,606
Common interest-bearing deposits	$	3,353,642		$	3,267,400		$	3,183,072		$	3,211,528		$	3,271,015
Common interest-bearing liabilities	$	3,393,264		$	3,306,972		$	3,222,603		$	3,251,034		$	3,310,485
Common fairness	$	680,404		$	675,108		$	672,292		$	664,638		$	656,973
Common tangible frequent fairness⁽¹⁾	$	505,451		$	499,610		$	496,253		$	487,997		$	479,735


(1)	It is a non-GAAP monetary measure.

	Finish of Interval:									P.c Change From:
CONSOLIDATED BALANCE SHEETS	September 30,			June 30,			September 30,			June 30,			September 30,
(in $000’s, unaudited)	2024			2024			2023			2024			2023
ASSETS
Money and due from banks	$	49,722		$	37,497		$	40,076		33		%	24		%
Different investments and interest-bearing deposits in different monetary establishments		906,588			610,763			605,476		48		%	50		%
Securities available-for-sale, at honest worth		237,612			273,043			457,194		(13	)	%	(48	)	%
Securities held-to-maturity, at amortized price		604,193			621,178			664,681		(3	)	%	(9	)	%
Loans held-for-sale – SBA, together with deferred prices		1,649			1,899			841		(13	)	%	96		%
Loans:
Business		481,266			477,929			430,664		1		%	12		%
Actual property:
CRE – proprietor occupied		602,062			594,504			589,751		1		%	2		%
CRE – non-owner occupied		1,310,578			1,283,323			1,208,324		2		%	8		%
Land and development		125,761			125,374			158,138		0		%	(20	)	%
House fairness		124,090			126,562			124,477		(2	)	%	0		%
Multifamily		273,103			268,968			253,129		2		%	8		%
Residential mortgages		479,524			484,809			503,006		(1	)	%	(5	)	%
Shopper and different		14,179			18,758			18,526		(24	)	%	(23	)	%
Loans		3,410,563			3,380,227			3,286,015		1		%	4		%
Deferred mortgage charges, web		(327	)		(434	)		(554	)	(25	)	%	(41	)	%
Complete loans, web of deferred prices and charges		3,410,236			3,379,793			3,285,461		1		%	4		%
Allowance for credit score losses on loans		(47,819	)		(47,954	)		(47,702	)	0		%	0		%
Loans, web		3,362,417			3,331,839			3,237,759		1		%	4		%
Firm-owned life insurance coverage		80,682			80,153			79,607		1		%	1		%
Premises and tools, web		10,398			10,310			9,707		1		%	7		%
Goodwill		167,631			167,631			167,631		0		%	0		%
Different intangible property		6,966			7,521			9,229		(7	)	%	(25	)	%
Accrued curiosity receivable and different property		123,738			121,190			131,106		2		%	(6	)	%
Complete property	$	5,551,596		$	5,263,024		$	5,403,307		5		%	3		%

LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities:
Deposits:
Demand, noninterest-bearing	$	1,272,139		$	1,187,320		$	1,243,501		7		%	2		%
Demand, interest-bearing		913,910			928,246			1,004,185		(2	)	%	(9	)	%
Financial savings and cash market		1,309,676			1,126,520			1,110,640		16		%	18		%
Time deposits – below $250		39,060			39,046			43,906		0		%	(11	)	%
Time deposits – $250 and over		196,945			203,886			252,001		(3	)	%	(22	)	%
ICS/CDARS – interest-bearing demand, cash market and time deposits		997,803			959,592			921,224		4		%	8		%
Complete deposits		4,729,533			4,444,610			4,575,457		6		%	3		%
Subordinated debt, web of issuance prices		39,615			39,577			39,463		0		%	0		%
Accrued curiosity payable and different liabilities		97,096			99,638			126,457		(3	)	%	(23	)	%
Complete liabilities		4,866,244			4,583,825			4,741,377		6		%	3		%

Shareholders’ Fairness:
Frequent inventory		509,134			508,343			505,692		0		%	1		%
Retained earnings		185,110			182,571			173,707		1		%	7		%
Amassed different complete loss		(8,892	)		(11,715	)		(17,469	)	(24	)	%	(49	)	%
Complete shareholders’ fairness		685,352			679,199			661,930		1		%	4		%
Complete liabilities and shareholders’ fairness	$	5,551,596		$	5,263,024		$	5,403,307		5		%	3		%

	Finish of Interval:
CONSOLIDATED BALANCE SHEETS	September 30,			June 30,			March 31,			December 31,			September 30,
(in $000’s, unaudited)	2024			2024			2024			2023			2023
ASSETS
Money and due from banks	$	49,722		$	37,497		$	32,543		$	41,592		$	40,076
Different investments and interest-bearing deposits in different monetary establishments		906,588			610,763			508,816			366,537			605,476
Securities available-for-sale, at honest worth		237,612			273,043			404,474			442,636			457,194
Securities held-to-maturity, at amortized price		604,193			621,178			636,249			650,565			664,681
Loans held-for-sale – SBA, together with deferred prices		1,649			1,899			1,946			2,205			841
Loans:
Business		481,266			477,929			452,231			463,778			430,664
Actual property:
CRE – proprietor occupied		602,062			594,504			585,031			583,253			589,751
CRE – non-owner occupied		1,310,578			1,283,323			1,271,184			1,256,590			1,208,324
Land and development		125,761			125,374			129,712			140,513			158,138
House fairness		124,090			126,562			122,794			119,125			124,477
Multifamily		273,103			268,968			269,263			269,734			253,129
Residential mortgages		479,524			484,809			490,035			496,961			503,006
Shopper and different		14,179			18,758			16,439			20,919			18,526
Loans		3,410,563			3,380,227			3,336,689			3,350,873			3,286,015
Deferred mortgage charges, web		(327	)		(434	)		(587	)		(495	)		(554	)
Complete loans, web of deferred charges		3,410,236			3,379,793			3,336,102			3,350,378			3,285,461
Allowance for credit score losses on loans		(47,819	)		(47,954	)		(47,888	)		(47,958	)		(47,702	)
Loans, web		3,362,417			3,331,839			3,288,214			3,302,420			3,237,759
Firm-owned life insurance coverage		80,682			80,153			80,007			79,489			79,607
Premises and tools, web		10,398			10,310			9,986			9,857			9,707
Goodwill		167,631			167,631			167,631			167,631			167,631
Different intangible property		6,966			7,521			8,074			8,627			9,229
Accrued curiosity receivable and different property		123,738			121,190			118,134			122,536			131,106
Complete property	$	5,551,596		$	5,263,024		$	5,256,074		$	5,194,095		$	5,403,307

LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities:
Deposits:
Demand, noninterest-bearing	$	1,272,139		$	1,187,320		$	1,242,059		$	1,292,486		$	1,243,501
Demand, interest-bearing		913,910			928,246			925,100			914,066			1,004,185
Financial savings and cash market		1,309,676			1,126,520			1,124,900			1,087,518			1,110,640
Time deposits – below $250		39,060			39,046			38,105			38,055			43,906
Time deposits – $250 and over		196,945			203,886			200,739			192,228			252,001
ICS/CDARS – interest-bearing demand, cash market and time deposits		997,803			959,592			913,757			854,105			921,224
Complete deposits		4,729,533			4,444,610			4,444,660			4,378,458			4,575,457
Different short-term borrowings		—			—			—			—			—
Subordinated debt, web of issuance prices		39,615			39,577			39,539			39,502			39,463
Accrued curiosity payable and different liabilities		97,096			99,638			95,579			103,234			126,457
Complete liabilities		4,866,244			4,583,825			4,579,778			4,521,194			4,741,377

Shareholders’ Fairness:
Frequent inventory		509,134			508,343			507,578			506,539			505,692
Retained earnings		185,110			182,571			181,306			179,092			173,707
Amassed different complete loss		(8,892	)		(11,715	)		(12,588	)		(12,730	)		(17,469	)
Complete shareholders’ fairness		685,352			679,199			676,296			672,901			661,930
Complete liabilities and shareholders’ fairness	$	5,551,596		$	5,263,024		$	5,256,074		$	5,194,095		$	5,403,307

	At or For the Quarter Ended:									P.c Change From:
CREDIT QUALITY DATA	September 30,			June 30,			September 30,			June 30,			September 30,
(in $000’s, unaudited)	2024			2024			2023			2024			2023
Nonaccrual loans – held-for-investment	$	6,698		$	5,782		$	3,518		16		%	90		%
Loans over 90 days overdue and nonetheless accruing		460			248			1,966		85		%	(77	)	%
Complete nonperforming loans		7,158			6,030			5,484		19		%	31		%
Foreclosed property		—			—			—		N/A			N/A
Complete nonperforming property	$	7,158		$	6,030		$	5,484		19		%	31		%
Web charge-offs (recoveries) through the quarter	$	288		$	405		$	269		(29	)	%	7		%
Provision for credit score losses on loans through the quarter	$	153		$	471		$	168		(68	)	%	(9	)	%
Allowance for credit score losses on loans	$	47,819		$	47,954		$	47,702		0		%	0		%
Labeled property	$	32,609		$	33,605		$	31,062		(3	)	%	5		%
Allowance for credit score losses on loans to complete loans		1.40	%		1.42	%		1.45	%	(1	)	%	(3	)	%
Allowance for credit score losses on loans to complete nonperforming loans		668.05	%		795.26	%		869.84	%	(16	)	%	(23	)	%
Nonperforming property to complete property		0.13	%		0.11	%		0.10	%	18		%	30		%
Nonperforming loans to complete loans		0.21	%		0.18	%		0.17	%	17		%	24		%
Labeled property to Heritage Commerce Corp
Tier 1 capital plus allowance for credit score losses on loans		6	%		6	%		6	%	0		%	0		%
Labeled property to Heritage Financial institution of Commerce
Tier 1 capital plus allowance for credit score losses on loans		6	%		6	%		5	%	0		%	20		%

OTHER PERIOD-END STATISTICS
(in $000’s, unaudited)
Heritage Commerce Corp:
Tangible frequent fairness ⁽¹⁾	$	510,755		$	504,047		$	485,070		1		%	5		%
Shareholders’ fairness / complete property		12.35	%		12.91	%		12.25	%	(4	)	%	1		%
Tangible frequent fairness / tangible property ⁽²⁾		9.50	%		9.91	%		9.28	%	(4	)	%	2		%
Mortgage to deposit ratio		72.11	%		76.04	%		71.81	%	(5	)	%	0		%
Noninterest-bearing deposits / complete deposits		26.90	%		26.71	%		27.18	%	1		%	(1	)	%
Complete capital ratio		15.6	%		15.6	%		15.6	%	0		%	0		%
Tier 1 capital ratio		13.4	%		13.4	%		13.4	%	0		%	0		%
Frequent Fairness Tier 1 capital ratio		13.4	%		13.4	%		13.4	%	0		%	0		%
Tier 1 leverage ratio		10.0	%		10.2	%		9.6	%	(2	)	%	4		%
Heritage Financial institution of Commerce:
Tangible frequent fairness / tangible property ⁽²⁾		9.86	%		10.28	%		9.62	%	(4	)	%	2		%
Complete capital ratio		15.1	%		15.1	%		15.0	%	0		%	1		%
Tier 1 capital ratio		13.9	%		13.9	%		13.9	%	0		%	0		%
Frequent Fairness Tier 1 capital ratio		13.9	%		13.9	%		13.9	%	0		%	0		%
Tier 1 leverage ratio		10.4	%		10.6	%		10.0	%	(2	)	%	4		%


(1)	It is a non-GAAP monetary measure that represents shareholders’ fairness minus goodwill and different intangible property.
(2)	It is a non-GAAP monetary measure that represents shareholders’ fairness minus goodwill and different intangible property divided by complete property minus goodwill and different intangible property.

	At or For the Quarter Ended:
CREDIT QUALITY DATA	September 30,			June 30,			March 31,			December 31,			September 30,
(in $000’s, unaudited)	2024			2024			2024			2023			2023
Nonaccrual loans – held-for-investment	$	6,698		$	5,782		$	5,920		$	6,818		$	3,518
Loans over 90 days overdue and nonetheless accruing		460			248			1,951			889			1,966
Complete nonperforming loans		7,158			6,030			7,871			7,707			5,484
Foreclosed property		—			—			—			—			—
Complete nonperforming property	$	7,158		$	6,030		$	7,871		$	7,707		$	5,484
Web charge-offs (recoveries) through the quarter	$	288		$	405		$	254		$	33		$	269
Provision for credit score losses on loans through the quarter	$	153		$	471		$	184		$	289		$	168
Allowance for credit score losses on loans	$	47,819		$	47,954		$	47,888		$	47,958		$	47,702
Labeled property	$	32,609		$	33,605		$	35,392		$	31,763		$	31,062
Allowance for credit score losses on loans to complete loans		1.40	%		1.42	%		1.44	%		1.43	%		1.45	%
Allowance for credit score losses on loans to complete nonperforming loans		668.05	%		795.26	%		608.41	%		622.27	%		869.84	%
Nonperforming property to complete property		0.13	%		0.11	%		0.15	%		0.15	%		0.10	%
Nonperforming loans to complete loans		0.21	%		0.18	%		0.24	%		0.23	%		0.17	%
Labeled property to Heritage Commerce Corp
Tier 1 capital plus allowance for credit score losses on loans		6	%		6	%		6	%		6	%		6	%
Labeled property to Heritage Financial institution of Commerce
Tier 1 capital plus allowance for credit score losses on loans		6	%		6	%		6	%		5	%		5	%

OTHER PERIOD-END STATISTICS
(in $000’s, unaudited)
Heritage Commerce Corp:
Tangible frequent fairness ⁽¹⁾	$	510,755		$	504,047		$	500,591		$	496,643		$	485,070
Shareholders’ fairness / complete property		12.35	%		12.91	%		12.87	%		12.96	%		12.25	%
Tangible frequent fairness / tangible property ⁽²⁾		9.50	%		9.91	%		9.85	%		9.90	%		9.28	%
Mortgage to deposit ratio		72.11	%		76.04	%		75.06	%		76.52	%		71.81	%
Noninterest-bearing deposits / complete deposits		26.90	%		26.71	%		27.94	%		29.52	%		27.18	%
Complete capital ratio		15.6	%		15.6	%		15.6	%		15.5	%		15.6	%
Tier 1 capital ratio		13.4	%		13.4	%		13.4	%		13.3	%		13.4	%
Frequent Fairness Tier 1 capital ratio		13.4	%		13.4	%		13.4	%		13.3	%		13.4	%
Tier 1 leverage ratio		10.0	%		10.2	%		10.2	%		10.0	%		9.6	%
Heritage Financial institution of Commerce:
Tangible frequent fairness / tangible property ⁽²⁾		9.86	%		10.28	%		10.22	%		10.26	%		9.62	%
Complete capital ratio		15.1	%		15.1	%		15.1	%		14.9	%		15.0	%
Tier 1 capital ratio		13.9	%		13.9	%		13.9	%		13.8	%		13.9	%
Frequent Fairness Tier 1 capital ratio		13.9	%		13.9	%		13.9	%		13.8	%		13.9	%
Tier 1 leverage ratio		10.4	%		10.6	%		10.6	%		10.4	%		10.0	%


(1)	It is a non-GAAP monetary measure that represents shareholders’ fairness minus goodwill and different intangible property.
(2)	It is a non-GAAP monetary measure that represents shareholders’ fairness minus goodwill and different intangible property divided by complete property minus goodwill and different intangible property.

	For the Quarter Ended							For the Quarter Ended
	September 30, 2024							June 30, 2024
			Curiosity			Common				Curiosity			Common
NET INTEREST INCOME AND NET INTEREST MARGIN	Common		Earnings/			Yield/		Common		Earnings/			Yield/
(in $000’s, unaudited)	Steadiness		Expense			Price		Steadiness		Expense			Price
Belongings:
Loans, gross⁽¹⁾⁽²⁾	$	3,361,140	$	45,781		5.42	%	$	3,329,861	$	45,470		5.49	%
Securities – taxable		838,375		4,676		2.22	%		942,532		5,483		2.34	%
Securities – exempt from Federal tax ⁽³⁾		31,311		282		3.58	%		31,803		285		3.60	%
Different investments and interest-bearing deposits in different monetary establishments		781,039		10,758		5.48	%		568,253		7,899		5.59	%
Complete curiosity incomes property⁽³⁾		5,011,865		61,497		4.88	%		4,872,449		59,137		4.88	%
Money and due from banks		33,425							33,419
Premises and tools, web		10,471							10,216
Goodwill and different intangible property		174,953							175,498
Different property		121,353							121,589
Complete property	$	5,352,067						$	5,213,171

Liabilities and shareholders’ fairness:
Deposits:
Demand, noninterest-bearing	$	1,172,304						$	1,127,145

Demand, interest-bearing		907,346		1,714		0.75	%		932,100		1,719		0.74	%
Financial savings and cash market		1,188,057		9,128		3.06	%		1,104,589		7,867		2.86	%
Time deposits – below $100		11,133		47		1.68	%		10,980		46		1.68	%
Time deposits – $100 and over		229,565		2,349		4.07	%		228,248		2,245		3.96	%
ICS/CDARS – interest-bearing demand, cash market and time deposits		1,017,541		7,747		3.03	%		991,483		7,207		2.92	%
Complete interest-bearing deposits		3,353,642		20,985		2.49	%		3,267,400		19,084		2.35	%
Complete deposits		4,525,946		20,985		1.84	%		4,394,545		19,084		1.75	%

Quick-term borrowings		32		—		0.00	%		19		—		0.00	%
Subordinated debt, web of issuance prices		39,590		538		5.41	%		39,553		538		5.47	%
Complete interest-bearing liabilities		3,393,264		21,523		2.52	%		3,306,972		19,622		2.39	%
Complete interest-bearing liabilities and demand, noninterest-bearing / price of funds		4,565,568		21,523		1.88	%		4,434,117		19,622		1.78	%
Different liabilities		106,095							103,946
Complete liabilities		4,671,663							4,538,063
Shareholders’ fairness		680,404							675,108
Complete liabilities and shareholders’ fairness	$	5,352,067						$	5,213,171

Web curiosity earnings / margin ⁽³⁾				39,974		3.17	%				39,515		3.26	%
Much less tax equal adjustment⁽³⁾				(59	)						(60	)
Web curiosity earnings			$	39,915		3.17	%			$	39,455		3.26	%


(1)	Contains loans held-for-sale. Nonaccrual loans are included in common balances.
(2)	Yield quantities earned on loans embody charges and prices. The accretion of web deferred mortgage charges into mortgage curiosity earnings was $184,000 for the third quarter of 2024, in comparison with $117,000 for the second quarter of 2024. Prepayment charges totaled $4,000 for the third quarter of 2024, in comparison with $54,000 for the second quarter of 2024.
(3)	Displays the non-GAAP FTE adjustment for Federal tax-exempt earnings primarily based on a 21% tax fee.

	For the Quarter Ended							For the Quarter Ended
	September 30, 2024							September 30, 2023
			Curiosity			Common				Curiosity			Common
NET INTEREST INCOME AND NET INTEREST MARGIN	Common		Earnings/			Yield/		Common		Earnings/			Yield/
(in $000’s, unaudited)	Steadiness		Expense			Price		Steadiness		Expense			Price
Belongings:
Loans, gross⁽¹⁾⁽²⁾	$	3,361,140	$	45,781		5.42	%	$	3,257,480	$	44,853		5.46	%
Securities – taxable		838,375		4,676		2.22	%		1,114,782		6,797		2.42	%
Securities – exempt from Federal tax ⁽³⁾		31,311		282		3.58	%		32,947		293		3.53	%
Different investments and interest-bearing deposits in different monetary establishments		781,039		10,758		5.48	%		646,501		8,909		5.47	%
Complete curiosity incomes property⁽³⁾		5,011,865		61,497		4.88	%		5,051,710		60,852		4.78	%
Money and due from banks		33,425							35,911
Premises and tools, web		10,471							9,374
Goodwill and different intangible property		174,953							177,238
Different property		121,353							125,697
Complete property	$	5,352,067						$	5,399,930

Liabilities and shareholders’ fairness:
Deposits:
Demand, noninterest-bearing	$	1,172,304						$	1,302,606

Demand, interest-bearing		907,346		1,714		0.75	%		1,017,686		1,730		0.67	%
Financial savings and cash market		1,188,057		9,128		3.06	%		1,087,336		5,514		2.01	%
Time deposits – below $100		11,133		47		1.68	%		11,966		30		0.99	%
Time deposits – $100 and over		229,565		2,349		4.07	%		272,362		2,489		3.63	%
ICS/CDARS – interest-bearing demand, cash market and time deposits		1,017,541		7,747		3.03	%		881,665		5,117		2.30	%
Complete interest-bearing deposits		3,353,642		20,985		2.49	%		3,271,015		14,880		1.80	%
Complete deposits		4,525,946		20,985		1.84	%		4,573,621		14,880		1.29	%

Quick-term borrowings		32		—		0.00	%		31		—		0.00	%
Subordinated debt, web of issuance prices		39,590		538		5.41	%		39,439		539		5.42	%
Complete interest-bearing liabilities		3,393,264		21,523		2.52	%		3,310,485		15,419		1.85	%
Complete interest-bearing liabilities and demand, noninterest-bearing / price of funds		4,565,568		21,523		1.88	%		4,613,091		15,419		1.33	%
Different liabilities		106,095							129,866
Complete liabilities		4,671,663							4,742,957
Shareholders’ fairness		680,404							656,973
Complete liabilities and shareholders’ fairness	$	5,352,067						$	5,399,930

Web curiosity earnings / margin ⁽³⁾				39,974		3.17	%				45,433		3.57	%
Much less tax equal adjustment⁽³⁾				(59	)						(61	)
Web curiosity earnings			$	39,915		3.17	%			$	45,372		3.56	%


(1)	Contains loans held-for-sale. Nonaccrual loans are included in common balances.
(2)	Yield quantities earned on loans embody charges and prices. The accretion of web deferred mortgage charges into mortgage curiosity earnings was $184,000 for the third quarter of 2024, in comparison with $201,000 for the third quarter of 2023. Prepayment charges totaled $4,000 for the third quarter of 2024, in comparison with $182,000 for the third quarter of 2023.
(3)	Displays the non-GAAP FTE adjustment for Federal tax-exempt earnings primarily based on a 21% tax fee.

	For the 9 Months Ended							For the 9 Months Ended
	September 30, 2024							September 30, 2023
			Curiosity			Common				Curiosity			Common
NET INTEREST INCOME AND NET INTEREST MARGIN	Common		Earnings/			Yield/		Common		Earnings/			Yield/
(in $000’s, unaudited)	Steadiness		Expense			Price		Steadiness		Expense			Price
Belongings:
Loans, gross⁽¹⁾⁽²⁾	$	3,330,442	$	135,851		5.45	%	$	3,255,375	$	132,993		5.46	%
Securities – taxable		940,755		16,342		2.32	%		1,140,890		20,835		2.44	%
Securities – exempt from Federal tax ⁽³⁾		31,683		853		3.60	%		34,332		908		3.54	%
Different investments, interest-bearing deposits in different monetary establishments and Federal funds offered		606,360		25,199		5.55	%		535,016		20,860		5.21	%
Complete curiosity incomes property⁽³⁾		4,909,240		178,245		4.85	%		4,965,613		175,596		4.73	%
Money and due from banks		33,353							36,205
Premises and tools, web		10,235							9,278
Goodwill and different intangible property		175,495							177,837
Different property		120,015							127,514
Complete property	$	5,248,338						$	5,316,447

Liabilities and shareholders’ fairness:
Deposits:
Demand, noninterest-bearing	$	1,158,891						$	1,444,744

Demand, interest-bearing		919,786		4,987		0.72	%		1,117,140		4,994		0.60	%
Financial savings and cash market		1,120,324		23,644		2.82	%		1,159,894		13,641		1.57	%
Time deposits – below $100		11,020		135		1.64	%		11,951		60		0.67	%
Time deposits – $100 and over		226,353		6,658		3.93	%		212,736		4,744		2.98	%
ICS/CDARS – interest-bearing demand, cash market and time deposits		990,868		21,565		2.91	%		525,318		8,065		2.05	%
Complete interest-bearing deposits		3,268,351		56,989		2.33	%		3,027,039		31,504		1.39	%
Complete deposits		4,427,242		56,989		1.72	%		4,471,783		31,504		0.94	%

Quick-term borrowings		22		—		0.00	%		36,283		1,365		5.03	%
Subordinated debt, web of issuance prices		39,553		1,614		5.45	%		39,401		1,614		5.48	%
Complete interest-bearing liabilities		3,307,926		58,603		2.37	%		3,102,723		34,483		1.49	%
Complete interest-bearing liabilities and demand, noninterest-bearing / price of funds		4,466,817		58,603		1.75	%		4,547,467		34,483		1.01	%
Different liabilities		105,570							120,639
Complete liabilities		4,572,387							4,668,106
Shareholders’ fairness		675,951							648,341
Complete liabilities and shareholders’ fairness	$	5,248,338						$	5,316,447

Web curiosity earnings / margin ⁽³⁾				119,642		3.26	%				141,113		3.80	%
Much less tax equal adjustment⁽³⁾				(179	)						(190	)
Web curiosity earnings			$	119,463		3.25	%			$	140,923		3.79	%


(1)	Contains loans held-for-sale. Nonaccrual loans are included in common balances.
(2)	Yield quantities earned on loans embody charges and prices. The accretion of web deferred mortgage charges into mortgage curiosity earnings was $461,000 for the primary 9 months of 2024, in comparison with $595,000 for the primary 9 months of 2023. Prepayment charges totaled $82,000 for the primary 9 months of 2024, in comparison with $393,000 for the primary 9 months of 2023.
(3)	Displays the non-GAAP FTE adjustment for Federal tax-exempt earnings primarily based on a 21% tax fee.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

Administration considers tangible e book worth per share as a helpful measurement of the Firm’s fairness. The Firm references the return on common tangible frequent fairness and the return on common tangible property as measurements of profitability.
The next desk summarizes parts of the tangible e book worth per share on the dates indicated:


TANGIBLE BOOK VALUE PER SHARE	September 30,			June 30,			March 31,			December 31,			September 30,
(in $000’s, unaudited)	2024			2024			2024			2023			2023
Capital parts:
Complete Fairness (GAAP)	$	685,352		$	679,199		$	676,296		$	672,901		$	661,930
Much less: Most popular Inventory		—			—			—			—			—
Complete Frequent Fairness		685,352			679,199			676,296			672,901			661,930
Much less: Goodwill		(167,631	)		(167,631	)		(167,631	)		(167,631	)		(167,631	)
Much less: Different Intangible Belongings		(6,966	)		(7,521	)		(8,074	)		(8,627	)		(9,229	)
Complete Tangible Frequent Fairness (non-GAAP)	$	510,755		$	504,047		$	500,591		$	496,643		$	485,070

Frequent shares excellent at period-end		61,297,344			61,292,094			61,253,625			61,146,835			61,099,155

Tangible e book worth per share (non-GAAP)	$	8.33		$	8.22		$	8.17		$	8.12		$	7.94

The next tables summarize parts of the annualized return on common tangible frequent fairness and the annualized return on common tangible property for the intervals indicated:


RETURN ON AVERAGE TANGIBLE COMMON	For the Quarter Ended:
EQUITY AND AVERAGE TANGIBLE COMMON ASSETS	September 30,				June 30,				March 31,				December 31,				September 30,
(in $000’s, unaudited)	2024				2024					2024			2023				2023
Web earnings	$	10,507			$	9,234			$	10,166			$	13,328			$	15,795

Common tangible frequent fairness parts:
Common Fairness (GAAP)	$	680,404			$	675,108			$	672,292			$	664,638			$	656,973
Much less: Goodwill		(167,631	)			(167,631	)			(167,631	)			(167,631	)			(167,631	)
Much less: Different Intangible Belongings		(7,322	)			(7,867	)			(8,408	)			(9,010	)			(9,607	)
Complete Common Tangible Frequent Fairness (non-GAAP)	$	505,451			$	499,610			$	496,253			$	487,997			$	479,735

Annualized return on common tangible frequent fairness (non-GAAP)		8.27		%		7.43		%		8.24		%		10.84		%		13.06		%

Common tangible property parts:
Common Belongings (GAAP)	$	5,352,067			$	5,213,171			$	5,178,636			$	5,264,905			$	5,399,930
Much less: Goodwill		(167,631	)			(167,631	)			(167,631	)			(167,631	)			(167,631	)
Much less: Different Intangible Belongings		(7,322	)			(7,867	)			(8,408	)			(9,010	)			(9,607	)
Complete Common Tangible Belongings (non-GAAP)	$	5,177,114			$	5,037,673			$	5,002,597			$	5,088,264			$	5,222,692

Annualized return on common tangible property (non-GAAP)		0.81		%		0.74		%		0.82		%		1.04		%		1.20		%

RETURN ON AVERAGE TANGIBLE COMMON	For the 9 Months Ended:
EQUITY AND AVERAGE TANGIBLE COMMON ASSETS	September 30,				September 30,
(in $000’s, unaudited)	2024				2023
Web earnings	$	29,907			$	51,115

Common tangible frequent fairness parts:
Common Fairness (GAAP)	$	675,951			$	648,341
Much less: Goodwill		(167,631	)			(167,631	)
Much less: Different Intangible Belongings		(7,864	)			(10,206	)
Complete Common Tangible Frequent Fairness (non-GAAP)	$	500,456			$	470,504

Annualized return on common tangible frequent fairness (non-GAAP)		7.98		%		14.52		%

Common tangible property parts:
Common Belongings (GAAP)	$	5,248,338			$	5,316,447
Much less: Goodwill		(167,631	)			(167,631	)
Much less: Different Intangible Belongings		(7,864	)			(10,206	)
Complete Common Tangible Belongings (non-GAAP)	$	5,072,843				5,138,610

Annualized return on common tangible property (non-GAAP)		0.79		%		1.33		%

Administration evaluations yields on sure asset classes and the web curiosity margin of the Firm on an FTE foundation. On this non-GAAP presentation, web curiosity earnings is adjusted to replicate tax-exempt curiosity earnings on an equal before-tax foundation utilizing tax charges efficient as of the top of the interval. This measure ensures comparability of web curiosity earnings arising from each taxable and tax-exempt sources. The next tables summarize parts of FTE web curiosity earnings of the Firm for the intervals indicated:


	For the Quarter Ended:
	September 30,			June 30,			March 31,			December 31,			September 30,
(in $000’s, unaudited)	2024			2024			2024			2023			2023
Web curiosity earnings earlier than credit score losses on loans (GAAP)	$	39,915		$	39,455		$	40,093		$	42,301		$	45,372
Tax-equivalent adjustment on securities – exempt from Federal tax		59			60			60			61			61
Web curiosity earnings, FTE (non-GAAP)	$	39,974		$	39,515		$	40,153		$	42,362		$	45,433

Common steadiness of complete curiosity incomes property	$	5,011,865		$	4,872,449		$	4,842,279		$	4,923,582		$	5,051,710


Web curiosity margin (annualized web curiosity earnings divided by the typical steadiness of complete curiosity earnings property) (GAAP)		3.17	%		3.26	%		3.33	%		3.41	%		3.56	%

Web curiosity margin, FTE (annualized web curiosity earnings, FTE, divided by the typical steadiness of complete earnings property) (non-GAAP)		3.17	%		3.26	%		3.34	%		3.41	%		3.57	%

	For the 9 Months Ended:
	September 30,			September 30,
(in $000’s, unaudited)	2024			2023
Web curiosity earnings earlier than credit score losses on loans (GAAP)	$	119,463		$	140,923
Tax-equivalent adjustment on securities – exempt from Federal tax		179			190
Web curiosity earnings, FTE (non-GAAP)	$	119,642		$	141,113

Common steadiness of complete curiosity incomes property	$	4,909,240		$	4,965,613

Web curiosity margin (annualized web curiosity earnings divided by the typical steadiness of complete curiosity earnings property) (GAAP)		3.25	%		3.79	%

Web curiosity margin, FTE (annualized web curiosity earnings, FTE, divided by the typical steadiness of complete curiosity earnings property) (non-GAAP)		3.26	%		3.80	%

The effectivity ratio is a non-GAAP monetary measure, which is calculated by dividing noninterest expense by complete income (web curiosity earnings plus noninterest earnings), and measures how a lot it prices to supply one greenback of income. The next tables summarize parts of the effectivity ratio of the Firm for the intervals indicated:


	For the Quarter Ended:
	September 30,			June 30,			March 31,			December 31,			September 30,
(in $000’s, unaudited)	2024			2024			2023			2023			2023
Noninterest expense	$	27,555		$	28,188		$	27,536		$	25,491		$	25,171

Web curiosity earnings earlier than credit score losses on loans	$	39,915		$	39,455		$	40,093		$	42,301		$	45,372
Noninterest earnings		2,240			2,276			2,047			1,942			2,216
Complete income	$	42,155		$	41,731		$	42,140		$	44,243		$	47,588

Effectivity ratio (noninterest expense divided by complete income) (non-GAAP)		65.37	%		67.55	%		65.34	%		57.62	%		52.89	%

	For the 9 Months Ended:
	September 30,			September 30,
(in $000’s, unaudited)	2024			2023
Noninterest expense	$	83,279		$	75,563

Web curiosity earnings earlier than credit score losses on loans	$	119,463		$	140,923
Noninterest earnings		6,563			7,056
Complete income	$	126,026		$	147,979

Effectivity ratio (noninterest expense divided by complete income) (non-GAAP)		66.08	%		51.06	%

Administration considers the tangible frequent fairness ratio as a helpful measurement of the Firm’s and the Financial institution’s fairness. The next desk summarizes parts of the tangible frequent fairness to tangible property ratio of the Firm on the dates indicated:


TANGIBLE COMMON EQUITY TO TANGIBLE ASSETS	September 30,				June 30,				March 31,				December 31,				September 30,
(in $000’s, unaudited)	2024				2024				2024				2023				2023
Capital parts:
Complete Fairness (GAAP)	$	685,352			$	679,199			$	676,296			$	672,901			$	661,930
Much less: Most popular Inventory		—				—				—				—				—
Complete Frequent Fairness		685,352				679,199				676,296				672,901				661,930
Much less: Goodwill		(167,631	)			(167,631	)			(167,631	)			(167,631	)			(167,631	)
Much less: Different Intangible Belongings		(6,966	)			(7,521	)			(8,074	)			(8,627	)			(9,229	)
Complete Tangible Frequent Fairness (non-GAAP)	$	510,755			$	504,047			$	500,591			$	496,643			$	485,070

Asset parts:
Complete Belongings (GAAP)	$	5,551,596			$	5,263,024			$	5,256,074			$	5,194,095			$	5,403,307
Much less: Goodwill		(167,631	)			(167,631	)			(167,631	)			(167,631	)			(167,631	)
Much less: Different Intangible Belongings		(6,966	)			(7,521	)			(8,074	)			(8,627	)			(9,229	)
Complete Tangible Belongings (non-GAAP)	$	5,376,999			$	5,087,872			$	5,080,369			$	5,017,837			$	5,226,447

Tangible frequent fairness / tangible property (non-GAAP)		9.50		%		9.91		%		9.85		%		9.90		%		9.28		%

The next desk summarizes parts of the tangible frequent fairness to tangible property ratio of the Financial institution on the dates indicated:


TANGIBLE COMMON EQUITY TO TANGIBLE ASSETS	September 30,				June 30,				March 31,				December 31,				September 30,
(in $000’s, unaudited)	2024				2024				2024				2023				2023
Capital parts:
Complete Fairness (GAAP)	$	704,585			$	697,964			$	694,543			$	690,918			$	679,644
Much less: Most popular Inventory		—				—				—				—				—
Complete Frequent Fairness		704,585				697,964				694,543				690,918				679,644
Much less: Goodwill		(167,631	)			(167,631	)			(167,631	)			(167,631	)			(167,631	)
Much less: Different Intangible Belongings		(6,966	)			(7,521	)			(8,074	)			(8,627	)			(9,229	)
Complete Tangible Frequent Fairness (non-GAAP)	$	529,988			$	522,812			$	518,838			$	514,660			$	502,784

Asset parts:
Complete Belongings (GAAP)	$	5,548,576			$	5,260,500			$	5,254,044			$	5,190,829			$	5,402,838
Much less: Goodwill		(167,631	)			(167,631	)			(167,631	)			(167,631	)			(167,631	)
Much less: Different Intangible Belongings		(6,966	)			(7,521	)			(8,074	)			(8,627	)			(9,229	)
Complete Tangible Belongings (non-GAAP)	$	5,373,979			$	5,085,348			$	5,078,339			$	5,014,571			$	5,225,978

Tangible frequent fairness / tangible property (non-GAAP)		9.86		%		10.28		%		10.22		%		10.26		%		9.62		%

FAQ

What was Heritage Commerce Corp’s (HTBK) web earnings for Q3 2024?

Heritage Commerce Corp reported web earnings of $10.5 million, or $0.17 per diluted share, for Q3 2024.

How a lot did HTBK’s deposits develop in Q3 2024?

Complete deposits grew 6% in Q3 2024 in comparison with the earlier quarter, with noninterest-bearing demand deposits growing by 7%.

What was HTBK’s web curiosity margin in Q3 2024?

The online curiosity margin was 3.17% in Q3 2024, contracting 9 foundation factors from 3.26% in Q2 2024.

How a lot did HTBK’s core loans develop in Q3 2024?

Core loans grew by $35.7 million (1%) from the earlier quarter and $148.3 million (5%) during the last 12 months.

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Insights

FAQ

What was Heritage Commerce Corp’s (HTBK) web earnings for Q3 2024?

How a lot did HTBK’s deposits develop in Q3 2024?

What was HTBK’s web curiosity margin in Q3 2024?

How a lot did HTBK’s core loans develop in Q3 2024?

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Heritage Commerce Corp Reviews Consumer Deposit Development of 6% within the Third Quarter of 2024

Insights

FAQ

What was Heritage Commerce Corp’s (HTBK) web earnings for Q3 2024?

How a lot did HTBK’s deposits develop in Q3 2024?

What was HTBK’s web curiosity margin in Q3 2024?

How a lot did HTBK’s core loans develop in Q3 2024?

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