Annual Income Statements for Heritage Commerce
This table shows Heritage Commerce's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Heritage Commerce
This table shows Heritage Commerce's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Income / (Loss) Attributable to Common Shareholders |
|
18 |
21 |
19 |
16 |
16 |
13 |
10 |
9.23 |
11 |
11 |
Consolidated Net Income / (Loss) |
|
18 |
21 |
19 |
16 |
16 |
13 |
10 |
9.23 |
11 |
11 |
Net Income / (Loss) Continuing Operations |
|
18 |
21 |
19 |
16 |
16 |
13 |
10 |
9.23 |
11 |
11 |
Total Pre-Tax Income |
|
26 |
29 |
27 |
23 |
22 |
18 |
14 |
13 |
14 |
15 |
Total Revenue |
|
51 |
55 |
52 |
48 |
48 |
44 |
42 |
42 |
42 |
46 |
Net Interest Income / (Expense) |
|
48 |
52 |
49 |
46 |
45 |
42 |
40 |
39 |
40 |
44 |
Total Interest Income |
|
50 |
55 |
56 |
58 |
61 |
59 |
58 |
59 |
61 |
65 |
Loans and Leases Interest Income |
|
39 |
43 |
44 |
44 |
45 |
45 |
45 |
45 |
46 |
47 |
Investment Securities Interest Income |
|
6.13 |
7.20 |
7.30 |
7.22 |
7.03 |
6.74 |
6.41 |
5.71 |
4.90 |
4.69 |
Deposits and Money Market Investments Interest Income |
|
5.17 |
5.49 |
4.86 |
7.09 |
8.91 |
7.51 |
6.54 |
7.90 |
11 |
13 |
Total Interest Expense |
|
2.13 |
3.45 |
7.02 |
12 |
15 |
17 |
17 |
20 |
22 |
20 |
Deposits Interest Expense |
|
1.60 |
2.92 |
5.90 |
11 |
15 |
16 |
17 |
19 |
21 |
20 |
Long-Term Debt Interest Expense |
|
0.54 |
0.54 |
0.54 |
0.54 |
0.54 |
0.54 |
0.54 |
0.54 |
0.54 |
0.54 |
Total Non-Interest Income |
|
2.78 |
2.77 |
2.77 |
2.07 |
2.22 |
1.94 |
2.05 |
2.28 |
2.24 |
2.19 |
Other Service Charges |
|
1.96 |
2.29 |
2.20 |
1.37 |
1.39 |
1.40 |
1.35 |
1.46 |
1.62 |
1.53 |
Net Realized & Unrealized Capital Gains on Investments |
|
0.34 |
0.03 |
0.08 |
0.20 |
0.31 |
-0.10 |
0.18 |
0.30 |
0.09 |
0.13 |
Other Non-Interest Income |
|
0.48 |
0.45 |
0.49 |
0.50 |
0.52 |
0.64 |
0.52 |
0.52 |
0.53 |
0.53 |
Provision for Credit Losses |
|
1.01 |
0.51 |
0.03 |
0.26 |
0.17 |
0.29 |
0.18 |
0.47 |
0.15 |
1.33 |
Total Non-Interest Expense |
|
24 |
25 |
25 |
25 |
25 |
25 |
28 |
28 |
28 |
30 |
Salaries and Employee Benefits |
|
14 |
14 |
15 |
14 |
14 |
14 |
16 |
16 |
16 |
17 |
Net Occupancy & Equipment Expense |
|
2.42 |
2.51 |
2.40 |
2.42 |
2.30 |
2.37 |
2.44 |
2.69 |
2.60 |
2.50 |
Other Operating Expenses |
|
7.37 |
8.09 |
8.19 |
8.58 |
8.72 |
9.21 |
9.58 |
9.71 |
9.28 |
11 |
Income Tax Expense |
|
7.85 |
8.69 |
7.67 |
6.71 |
6.45 |
5.14 |
4.25 |
3.84 |
3.94 |
4.11 |
Basic Earnings per Share |
|
$0.30 |
$0.35 |
$0.31 |
$0.27 |
$0.26 |
$0.22 |
$0.17 |
$0.15 |
$0.17 |
$0.17 |
Weighted Average Basic Shares Outstanding |
|
60.72M |
60.90M |
60.97M |
61.09M |
61.10M |
61.17M |
61.26M |
61.29M |
61.30M |
61.44M |
Diluted Earnings per Share |
|
$0.30 |
$0.34 |
$0.31 |
$0.27 |
$0.26 |
$0.21 |
$0.17 |
$0.15 |
$0.17 |
$0.17 |
Weighted Average Diluted Shares Outstanding |
|
60.72M |
60.90M |
60.97M |
61.09M |
61.10M |
61.17M |
61.26M |
61.29M |
61.30M |
61.44M |
Weighted Average Basic & Diluted Shares Outstanding |
|
60.72M |
60.90M |
60.97M |
61.09M |
61.10M |
61.17M |
61.26M |
61.29M |
61.30M |
61.44M |
Annual Cash Flow Statements for Heritage Commerce
This table details how cash moves in and out of Heritage Commerce's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
-1,000 |
102 |
560 |
Net Cash From Operating Activities |
70 |
73 |
39 |
Net Cash From Continuing Operating Activities |
70 |
73 |
39 |
Net Income / (Loss) Continuing Operations |
67 |
64 |
41 |
Consolidated Net Income / (Loss) |
67 |
64 |
41 |
Provision For Loan Losses |
0.77 |
0.75 |
2.14 |
Depreciation Expense |
1.12 |
1.12 |
1.34 |
Amortization Expense |
4.44 |
-0.86 |
0.67 |
Non-Cash Adjustments to Reconcile Net Income |
-1.93 |
-0.91 |
-0.56 |
Changes in Operating Assets and Liabilities, net |
-1.10 |
8.48 |
-5.15 |
Net Cash From Investing Activities |
-669 |
70 |
111 |
Net Cash From Continuing Investing Activities |
-669 |
70 |
111 |
Purchase of Property, Leasehold Improvements and Equipment |
-0.78 |
-1.67 |
-1.62 |
Purchase of Investment Securities |
-780 |
-52 |
-173 |
Sale and/or Maturity of Investments |
111 |
124 |
285 |
Net Cash From Financing Activities |
-400 |
-42 |
410 |
Net Cash From Continuing Financing Activities |
-400 |
-42 |
410 |
Net Change in Deposits |
-370 |
-11 |
442 |
Issuance of Debt |
39 |
0.00 |
0.00 |
Repayment of Debt |
-40 |
0.00 |
0.00 |
Payment of Dividends |
-31 |
-32 |
-32 |
Other Financing Activities, Net |
2.05 |
1.22 |
0.69 |
Cash Interest Paid |
8.65 |
47 |
77 |
Cash Income Taxes Paid |
25 |
28 |
13 |
Quarterly Cash Flow Statements for Heritage Commerce
This table details how cash moves in and out of Heritage Commerce's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Change in Cash & Equivalents |
|
-195 |
-375 |
433 |
-229 |
134 |
-237 |
133 |
107 |
308 |
12 |
Net Cash From Operating Activities |
|
16 |
27 |
30 |
31 |
17 |
-4.58 |
7.34 |
11 |
5.31 |
16 |
Net Cash From Continuing Operating Activities |
|
16 |
27 |
30 |
31 |
17 |
-4.58 |
7.34 |
11 |
5.31 |
16 |
Net Income / (Loss) Continuing Operations |
|
18 |
21 |
19 |
16 |
16 |
13 |
10 |
9.23 |
11 |
11 |
Consolidated Net Income / (Loss) |
|
18 |
21 |
19 |
16 |
16 |
13 |
10 |
9.23 |
11 |
11 |
Provision For Loan Losses |
|
1.01 |
0.51 |
0.03 |
0.26 |
0.17 |
0.29 |
0.18 |
0.47 |
0.15 |
1.33 |
Depreciation Expense |
|
0.28 |
0.27 |
0.27 |
0.27 |
0.28 |
0.29 |
0.30 |
0.33 |
0.35 |
0.36 |
Amortization Expense |
|
1.31 |
-0.19 |
-0.24 |
-0.27 |
-0.24 |
-0.11 |
-0.04 |
0.03 |
0.35 |
0.32 |
Non-Cash Adjustments to Reconcile Net Income |
|
-0.13 |
-0.71 |
-0.68 |
-0.60 |
1.98 |
-1.61 |
0.08 |
-0.15 |
0.24 |
-0.73 |
Changes in Operating Assets and Liabilities, net |
|
-4.36 |
6.46 |
12 |
15 |
-1.13 |
-17 |
-3.36 |
0.59 |
-6.29 |
3.91 |
Net Cash From Investing Activities |
|
-273 |
-102 |
56 |
-7.90 |
50 |
-28 |
67 |
104 |
26 |
-87 |
Net Cash From Continuing Investing Activities |
|
-273 |
-102 |
56 |
-7.90 |
50 |
-28 |
67 |
104 |
26 |
-87 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-0.12 |
-0.14 |
-0.11 |
-0.33 |
-0.79 |
-0.44 |
-0.43 |
-0.65 |
-0.44 |
-0.11 |
Purchase of Investment Securities |
|
-297 |
-121 |
36 |
-27 |
3.05 |
-65 |
14 |
-44 |
-31 |
-112 |
Sale and/or Maturity of Investments |
|
24 |
19 |
19 |
19 |
48 |
37 |
54 |
149 |
57 |
26 |
Net Cash From Financing Activities |
|
62 |
-300 |
348 |
-251 |
67 |
-205 |
59 |
-7.96 |
277 |
83 |
Net Cash From Continuing Financing Activities |
|
62 |
-300 |
348 |
-251 |
67 |
-205 |
59 |
-7.96 |
277 |
83 |
Net Change in Deposits |
|
70 |
-294 |
55 |
56 |
75 |
-197 |
66 |
-0.05 |
285 |
90 |
Payment of Dividends |
|
-7.89 |
-7.90 |
-7.92 |
-7.94 |
-7.94 |
-7.94 |
-7.95 |
-7.97 |
-7.97 |
-7.97 |
Other Financing Activities, Net |
|
0.02 |
1.18 |
0.68 |
0.31 |
- |
0.22 |
0.39 |
0.06 |
0.04 |
0.21 |
Cash Interest Paid |
|
1.56 |
3.78 |
5.66 |
12 |
13 |
17 |
16 |
19 |
21 |
21 |
Cash Income Taxes Paid |
|
7.02 |
6.00 |
- |
- |
0.01 |
28 |
- |
- |
2.65 |
0.88 |
Annual Balance Sheets for Heritage Commerce
This table presents Heritage Commerce's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Total Assets |
5,158 |
5,194 |
5,645 |
Cash and Due from Banks |
28 |
42 |
30 |
Interest Bearing Deposits at Other Banks |
279 |
367 |
938 |
Trading Account Securities |
492 |
445 |
259 |
Loans and Leases, Net of Allowance |
3,251 |
3,302 |
3,443 |
Loans and Leases |
3,299 |
3,350 |
3,492 |
Allowance for Loan and Lease Losses |
48 |
48 |
49 |
Premises and Equipment, Net |
9.30 |
9.86 |
10 |
Goodwill |
168 |
168 |
168 |
Intangible Assets |
11 |
8.63 |
6.44 |
Other Assets |
920 |
853 |
791 |
Total Liabilities & Shareholders' Equity |
5,158 |
5,194 |
5,645 |
Total Liabilities |
4,525 |
4,521 |
4,955 |
Non-Interest Bearing Deposits |
1,737 |
1,292 |
1,214 |
Interest Bearing Deposits |
2,653 |
3,086 |
3,606 |
Accrued Interest Payable |
96 |
103 |
96 |
Long-Term Debt |
39 |
40 |
40 |
Total Equity & Noncontrolling Interests |
632 |
673 |
690 |
Total Preferred & Common Equity |
632 |
673 |
690 |
Preferred Stock |
0.00 |
0.00 |
0.00 |
Total Common Equity |
632 |
673 |
690 |
Common Stock |
503 |
507 |
510 |
Retained Earnings |
146 |
179 |
188 |
Accumulated Other Comprehensive Income / (Loss) |
-17 |
-13 |
-8.11 |
Quarterly Balance Sheets for Heritage Commerce
This table presents Heritage Commerce's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Total Assets |
|
5,431 |
5,537 |
5,312 |
5,403 |
5,256 |
5,263 |
5,552 |
Cash and Due from Banks |
|
41 |
41 |
43 |
40 |
33 |
37 |
50 |
Interest Bearing Deposits at Other Banks |
|
641 |
699 |
469 |
605 |
509 |
611 |
907 |
Trading Account Securities |
|
481 |
495 |
489 |
458 |
406 |
275 |
239 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
3,241 |
3,238 |
3,288 |
3,332 |
3,362 |
Loans and Leases |
|
- |
- |
3,289 |
3,285 |
3,336 |
3,380 |
3,410 |
Allowance for Loan and Lease Losses |
|
- |
- |
48 |
48 |
48 |
48 |
48 |
Premises and Equipment, Net |
|
9.43 |
9.14 |
9.20 |
9.71 |
9.99 |
10 |
10 |
Goodwill |
|
168 |
168 |
168 |
168 |
168 |
168 |
168 |
Intangible Assets |
|
12 |
10 |
9.83 |
9.23 |
8.07 |
7.52 |
6.97 |
Other Assets |
|
4,080 |
4,115 |
884 |
875 |
834 |
823 |
809 |
Total Liabilities & Shareholders' Equity |
|
5,431 |
5,537 |
5,312 |
5,403 |
5,256 |
5,263 |
5,552 |
Total Liabilities |
|
4,822 |
4,889 |
4,658 |
4,741 |
4,580 |
4,584 |
4,866 |
Non-Interest Bearing Deposits |
|
1,884 |
1,469 |
1,320 |
1,244 |
1,242 |
1,187 |
1,272 |
Interest Bearing Deposits |
|
2,800 |
2,975 |
3,181 |
3,332 |
3,203 |
3,257 |
3,457 |
Accrued Interest Payable |
|
99 |
105 |
118 |
126 |
96 |
100 |
97 |
Long-Term Debt |
|
39 |
39 |
39 |
39 |
40 |
40 |
40 |
Total Equity & Noncontrolling Interests |
|
610 |
647 |
654 |
662 |
676 |
679 |
685 |
Total Preferred & Common Equity |
|
610 |
647 |
654 |
662 |
676 |
679 |
685 |
Preferred Stock |
|
0.00 |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
Total Common Equity |
|
610 |
647 |
654 |
662 |
676 |
679 |
685 |
Common Stock |
|
501 |
504 |
505 |
506 |
508 |
508 |
509 |
Retained Earnings |
|
133 |
157 |
166 |
174 |
181 |
183 |
185 |
Accumulated Other Comprehensive Income / (Loss) |
|
-25 |
-14 |
-17 |
-17 |
-13 |
-12 |
-8.89 |
Annual Metrics And Ratios for Heritage Commerce
This table displays calculated financial ratios and metrics derived from Heritage Commerce's official financial filings.
Metric |
2022 |
2023 |
2024 |
Growth Metrics |
- |
- |
- |
Revenue Growth |
21.94% |
1.17% |
-10.31% |
EBITDA Growth |
31.98% |
-9.26% |
-35.28% |
EBIT Growth |
43.26% |
-4.18% |
-37.32% |
NOPAT Growth |
39.53% |
-3.17% |
-37.11% |
Net Income Growth |
39.53% |
-3.17% |
-37.11% |
EPS Growth |
37.97% |
-3.67% |
-37.14% |
Operating Cash Flow Growth |
22.87% |
4.52% |
-46.62% |
Free Cash Flow Firm Growth |
19.46% |
-27.08% |
-1.24% |
Invested Capital Growth |
5.31% |
6.04% |
2.38% |
Revenue Q/Q Growth |
7.71% |
-5.07% |
1.25% |
EBITDA Q/Q Growth |
8.45% |
-10.75% |
-5.20% |
EBIT Q/Q Growth |
12.09% |
-10.87% |
-6.17% |
NOPAT Q/Q Growth |
11.44% |
-10.39% |
-6.26% |
Net Income Q/Q Growth |
11.44% |
-10.39% |
-6.26% |
EPS Q/Q Growth |
12.37% |
-11.02% |
-5.71% |
Operating Cash Flow Q/Q Growth |
16.12% |
-30.29% |
109.85% |
Free Cash Flow Firm Q/Q Growth |
-20.02% |
23.24% |
19.79% |
Invested Capital Q/Q Growth |
3.54% |
1.57% |
0.61% |
Profitability Metrics |
- |
- |
- |
EBITDA Margin |
52.59% |
47.17% |
34.04% |
EBIT Margin |
49.67% |
47.04% |
32.87% |
Profit (Net Income) Margin |
35.03% |
33.53% |
23.51% |
Tax Burden Percent |
70.53% |
71.27% |
71.51% |
Interest Burden Percent |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
29.47% |
28.73% |
28.49% |
Return on Invested Capital (ROIC) |
10.16% |
9.31% |
5.62% |
ROIC Less NNEP Spread (ROIC-NNEP) |
10.16% |
9.31% |
5.62% |
Return on Net Nonoperating Assets (RNNOA) |
0.65% |
0.56% |
0.33% |
Return on Equity (ROE) |
10.82% |
9.87% |
5.95% |
Cash Return on Invested Capital (CROIC) |
4.99% |
3.45% |
3.27% |
Operating Return on Assets (OROA) |
1.77% |
1.75% |
1.05% |
Return on Assets (ROA) |
1.25% |
1.25% |
0.75% |
Return on Common Equity (ROCE) |
10.82% |
9.87% |
5.95% |
Return on Equity Simple (ROE_SIMPLE) |
10.52% |
9.58% |
5.88% |
Net Operating Profit after Tax (NOPAT) |
67 |
64 |
41 |
NOPAT Margin |
35.03% |
33.53% |
23.51% |
Net Nonoperating Expense Percent (NNEP) |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
34.20% |
34.52% |
43.03% |
Operating Expenses to Revenue |
49.93% |
52.57% |
65.88% |
Earnings before Interest and Taxes (EBIT) |
94 |
90 |
57 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
100 |
91 |
59 |
Valuation Ratios |
- |
- |
- |
Price to Book Value (P/BV) |
1.10 |
0.84 |
0.82 |
Price to Tangible Book Value (P/TBV) |
1.53 |
1.14 |
1.10 |
Price to Revenue (P/Rev) |
3.66 |
2.94 |
3.29 |
Price to Earnings (P/E) |
10.44 |
8.77 |
14.00 |
Dividend Yield |
4.54% |
5.62% |
5.62% |
Earnings Yield |
9.58% |
11.41% |
7.14% |
Enterprise Value to Invested Capital (EV/IC) |
0.64 |
0.28 |
0.00 |
Enterprise Value to Revenue (EV/Rev) |
2.25 |
1.02 |
0.00 |
Enterprise Value to EBITDA (EV/EBITDA) |
4.28 |
2.17 |
0.00 |
Enterprise Value to EBIT (EV/EBIT) |
4.53 |
2.17 |
0.00 |
Enterprise Value to NOPAT (EV/NOPAT) |
6.42 |
3.05 |
0.00 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
6.12 |
2.69 |
0.00 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
13.07 |
8.23 |
0.00 |
Leverage & Solvency |
- |
- |
- |
Debt to Equity |
0.06 |
0.06 |
0.06 |
Long-Term Debt to Equity |
0.06 |
0.06 |
0.06 |
Financial Leverage |
0.06 |
0.06 |
0.06 |
Leverage Ratio |
8.66 |
7.93 |
7.95 |
Compound Leverage Factor |
8.66 |
7.93 |
7.95 |
Debt to Total Capital |
5.86% |
5.54% |
5.44% |
Short-Term Debt to Total Capital |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
5.86% |
5.54% |
5.44% |
Preferred Equity to Total Capital |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
94.14% |
94.46% |
94.56% |
Debt to EBITDA |
0.39 |
0.44 |
0.68 |
Net Debt to EBITDA |
-2.67 |
-4.07 |
-15.82 |
Long-Term Debt to EBITDA |
0.39 |
0.44 |
0.68 |
Debt to NOPAT |
0.59 |
0.61 |
0.98 |
Net Debt to NOPAT |
-4.02 |
-5.72 |
-22.91 |
Long-Term Debt to NOPAT |
0.59 |
0.61 |
0.98 |
Noncontrolling Interest Sharing Ratio |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
- |
- |
- |
Cash Flow Metrics |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
33 |
24 |
24 |
Operating Cash Flow to CapEx |
8,921.20% |
4,369.24% |
2,399.69% |
Free Cash Flow to Firm to Interest Expense |
3.65 |
0.47 |
0.30 |
Operating Cash Flow to Interest Expense |
7.81 |
1.43 |
0.49 |
Operating Cash Flow Less CapEx to Interest Expense |
7.72 |
1.40 |
0.47 |
Efficiency Ratios |
- |
- |
- |
Asset Turnover |
0.04 |
0.04 |
0.03 |
Fixed Asset Turnover |
20.06 |
20.07 |
17.24 |
Capital & Investment Metrics |
- |
- |
- |
Invested Capital |
672 |
712 |
729 |
Invested Capital Turnover |
0.29 |
0.28 |
0.24 |
Increase / (Decrease) in Invested Capital |
34 |
41 |
17 |
Enterprise Value (EV) |
428 |
196 |
-361 |
Market Capitalization |
695 |
565 |
568 |
Book Value per Share |
$10.42 |
$11.01 |
$11.25 |
Tangible Book Value per Share |
$7.47 |
$8.13 |
$8.41 |
Total Capital |
672 |
712 |
729 |
Total Debt |
39 |
40 |
40 |
Total Long-Term Debt |
39 |
40 |
40 |
Net Debt |
-267 |
-369 |
-928 |
Capital Expenditures (CapEx) |
0.78 |
1.67 |
1.62 |
Net Nonoperating Expense (NNE) |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
39 |
40 |
40 |
Total Depreciation and Amortization (D&A) |
5.56 |
0.26 |
2.01 |
Earnings Adjustments |
- |
- |
- |
Adjusted Basic Earnings per Share |
$1.10 |
$1.06 |
$0.66 |
Adjusted Weighted Average Basic Shares Outstanding |
60.90M |
61.17M |
61.44M |
Adjusted Diluted Earnings per Share |
$1.09 |
$1.05 |
$0.66 |
Adjusted Weighted Average Diluted Shares Outstanding |
60.90M |
61.17M |
61.44M |
Adjusted Basic & Diluted Earnings per Share |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
60.90M |
61.17M |
61.44M |
Normalized Net Operating Profit after Tax (NOPAT) |
67 |
64 |
41 |
Normalized NOPAT Margin |
35.03% |
33.53% |
23.51% |
Pre Tax Income Margin |
49.67% |
47.04% |
32.87% |
Debt Service Ratios |
- |
- |
- |
EBIT to Interest Expense |
10.55 |
1.77 |
0.72 |
NOPAT to Interest Expense |
7.44 |
1.26 |
0.51 |
EBIT Less CapEx to Interest Expense |
10.46 |
1.74 |
0.70 |
NOPAT Less CapEx to Interest Expense |
7.35 |
1.23 |
0.49 |
Payout Ratios |
- |
- |
- |
Dividend Payout Ratio |
47.32% |
49.25% |
78.61% |
Augmented Payout Ratio |
47.32% |
49.25% |
78.61% |
Quarterly Metrics And Ratios for Heritage Commerce
This table displays calculated financial ratios and metrics derived from Heritage Commerce's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
25.21% |
33.22% |
27.88% |
9.98% |
-6.36% |
-18.84% |
-19.00% |
-13.72% |
-11.42% |
4.81% |
EBITDA Growth |
|
26.81% |
35.76% |
31.96% |
1.98% |
-18.99% |
-36.95% |
-44.85% |
-41.90% |
-32.03% |
-17.26% |
EBIT Growth |
|
34.47% |
52.72% |
47.76% |
10.24% |
-14.15% |
-37.38% |
-45.77% |
-43.45% |
-35.07% |
-20.19% |
NOPAT Growth |
|
31.72% |
48.94% |
47.03% |
10.67% |
-12.59% |
-35.92% |
-46.26% |
-43.71% |
-33.48% |
-20.31% |
Net Income Growth |
|
31.72% |
48.94% |
47.03% |
10.67% |
-12.59% |
-35.92% |
-46.26% |
-43.71% |
-33.48% |
-20.31% |
EPS Growth |
|
30.43% |
54.55% |
47.62% |
12.50% |
-13.33% |
-38.24% |
-45.16% |
-44.44% |
-34.62% |
-19.05% |
Operating Cash Flow Growth |
|
-11.51% |
55.58% |
78.50% |
215.81% |
4.11% |
-116.88% |
-75.51% |
-65.87% |
-68.51% |
445.32% |
Free Cash Flow Firm Growth |
|
-162.52% |
-105.28% |
-4,754.86% |
-259.41% |
-4,712.70% |
-108.89% |
186.01% |
45.53% |
64.46% |
76.69% |
Invested Capital Growth |
|
2.99% |
5.31% |
53.90% |
7.21% |
8.10% |
6.04% |
-27.44% |
3.71% |
3.36% |
2.38% |
Revenue Q/Q Growth |
|
15.57% |
7.26% |
-4.56% |
-7.03% |
-1.61% |
-7.03% |
-4.75% |
-0.97% |
1.02% |
10.00% |
EBITDA Q/Q Growth |
|
21.33% |
7.47% |
-9.94% |
-13.16% |
-3.61% |
-16.36% |
-21.22% |
-8.53% |
12.77% |
1.81% |
EBIT Q/Q Growth |
|
23.60% |
13.77% |
-9.82% |
-13.07% |
-3.75% |
-17.02% |
-21.90% |
-9.35% |
10.52% |
1.99% |
NOPAT Q/Q Growth |
|
21.91% |
15.11% |
-9.05% |
-13.29% |
-3.71% |
-15.62% |
-23.72% |
-9.17% |
13.79% |
1.09% |
Net Income Q/Q Growth |
|
21.91% |
15.11% |
-9.05% |
-13.29% |
-3.71% |
-15.62% |
-23.72% |
-9.17% |
13.79% |
1.09% |
EPS Q/Q Growth |
|
25.00% |
13.33% |
-8.82% |
-12.90% |
-3.70% |
-19.23% |
-19.05% |
-11.76% |
13.33% |
0.00% |
Operating Cash Flow Q/Q Growth |
|
65.97% |
67.74% |
10.38% |
2.77% |
-45.29% |
-127.20% |
260.18% |
43.21% |
-49.52% |
198.19% |
Free Cash Flow Firm Q/Q Growth |
|
90.91% |
-1,608.64% |
-2,402.18% |
90.76% |
-21.78% |
25.84% |
1,130.20% |
-105.85% |
20.55% |
51.36% |
Invested Capital Q/Q Growth |
|
0.36% |
3.54% |
46.86% |
-29.75% |
1.20% |
1.57% |
0.48% |
0.41% |
0.86% |
0.61% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
54.13% |
54.23% |
51.18% |
47.80% |
46.83% |
42.13% |
34.85% |
32.19% |
35.93% |
33.26% |
EBIT Margin |
|
51.00% |
54.09% |
51.11% |
47.79% |
46.75% |
41.73% |
34.22% |
31.32% |
34.27% |
31.78% |
Profit (Net Income) Margin |
|
35.55% |
38.16% |
36.36% |
33.91% |
33.19% |
30.12% |
24.12% |
22.13% |
24.92% |
22.90% |
Tax Burden Percent |
|
69.72% |
70.54% |
71.14% |
70.96% |
70.99% |
72.19% |
70.50% |
70.64% |
72.73% |
72.08% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
30.28% |
29.46% |
28.86% |
29.04% |
29.01% |
27.81% |
29.50% |
29.36% |
27.27% |
27.92% |
Return on Invested Capital (ROIC) |
|
9.81% |
11.07% |
9.00% |
10.42% |
9.96% |
8.37% |
5.17% |
5.51% |
5.95% |
5.48% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
9.81% |
11.07% |
9.00% |
10.42% |
9.96% |
8.37% |
5.17% |
5.51% |
5.95% |
5.48% |
Return on Net Nonoperating Assets (RNNOA) |
|
0.65% |
0.71% |
2.73% |
0.65% |
0.62% |
0.51% |
1.48% |
0.33% |
0.35% |
0.32% |
Return on Equity (ROE) |
|
10.46% |
11.78% |
11.73% |
11.07% |
10.57% |
8.87% |
6.65% |
5.83% |
6.30% |
5.80% |
Cash Return on Invested Capital (CROIC) |
|
6.39% |
4.99% |
-33.54% |
4.12% |
2.87% |
3.45% |
38.35% |
3.24% |
2.76% |
3.27% |
Operating Return on Assets (OROA) |
|
1.65% |
1.93% |
1.88% |
1.84% |
1.75% |
1.55% |
1.16% |
1.04% |
1.07% |
1.01% |
Return on Assets (ROA) |
|
1.15% |
1.36% |
1.34% |
1.31% |
1.24% |
1.12% |
0.82% |
0.74% |
0.77% |
0.73% |
Return on Common Equity (ROCE) |
|
10.46% |
11.78% |
11.73% |
11.07% |
10.57% |
8.87% |
6.65% |
5.83% |
6.30% |
5.80% |
Return on Equity Simple (ROE_SIMPLE) |
|
9.80% |
0.00% |
11.22% |
11.35% |
10.86% |
0.00% |
8.23% |
7.14% |
6.31% |
0.00% |
Net Operating Profit after Tax (NOPAT) |
|
18 |
21 |
19 |
16 |
16 |
13 |
10 |
9.23 |
11 |
11 |
NOPAT Margin |
|
35.55% |
38.16% |
36.36% |
33.91% |
33.19% |
30.12% |
24.12% |
22.13% |
24.92% |
22.90% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
32.53% |
30.13% |
33.08% |
33.93% |
34.56% |
36.81% |
42.60% |
44.29% |
43.34% |
41.99% |
Operating Expenses to Revenue |
|
47.02% |
44.98% |
48.83% |
51.67% |
52.89% |
57.62% |
65.34% |
67.55% |
65.37% |
65.35% |
Earnings before Interest and Taxes (EBIT) |
|
26 |
29 |
27 |
23 |
22 |
18 |
14 |
13 |
14 |
15 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
28 |
30 |
27 |
23 |
22 |
19 |
15 |
13 |
15 |
15 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.01 |
1.10 |
0.71 |
0.72 |
0.73 |
0.84 |
0.75 |
0.77 |
0.87 |
0.82 |
Price to Tangible Book Value (P/TBV) |
|
1.43 |
1.53 |
0.99 |
0.98 |
0.99 |
1.14 |
1.02 |
1.04 |
1.17 |
1.10 |
Price to Revenue (P/Rev) |
|
3.49 |
3.66 |
2.30 |
2.28 |
2.38 |
2.94 |
2.79 |
2.99 |
3.51 |
3.29 |
Price to Earnings (P/E) |
|
10.30 |
10.44 |
6.37 |
6.32 |
6.70 |
8.77 |
9.15 |
10.83 |
13.84 |
14.00 |
Dividend Yield |
|
5.13% |
4.54% |
6.84% |
6.76% |
6.60% |
5.62% |
6.24% |
6.06% |
5.33% |
5.62% |
Earnings Yield |
|
9.71% |
9.58% |
15.69% |
15.82% |
14.94% |
11.41% |
10.93% |
9.23% |
7.23% |
7.14% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.00 |
0.64 |
0.06 |
0.00 |
0.00 |
0.28 |
0.01 |
0.00 |
0.00 |
0.00 |
Enterprise Value to Revenue (EV/Rev) |
|
0.00 |
2.25 |
0.31 |
0.00 |
0.00 |
1.02 |
0.04 |
0.00 |
0.00 |
0.00 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
0.00 |
4.28 |
0.58 |
0.00 |
0.00 |
2.17 |
0.10 |
0.00 |
0.00 |
0.00 |
Enterprise Value to EBIT (EV/EBIT) |
|
0.00 |
4.53 |
0.60 |
0.00 |
0.00 |
2.17 |
0.10 |
0.00 |
0.00 |
0.00 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
0.00 |
6.42 |
0.85 |
0.00 |
0.00 |
3.05 |
0.14 |
0.00 |
0.00 |
0.00 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
0.00 |
6.12 |
0.75 |
0.00 |
0.00 |
2.69 |
0.15 |
0.00 |
0.00 |
0.00 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
13.07 |
0.00 |
0.00 |
0.00 |
8.23 |
0.02 |
0.00 |
0.00 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.06 |
0.06 |
0.52 |
0.06 |
0.06 |
0.06 |
0.06 |
0.06 |
0.06 |
0.06 |
Long-Term Debt to Equity |
|
0.06 |
0.06 |
0.06 |
0.06 |
0.06 |
0.06 |
0.06 |
0.06 |
0.06 |
0.06 |
Financial Leverage |
|
0.07 |
0.06 |
0.30 |
0.06 |
0.06 |
0.06 |
0.29 |
0.06 |
0.06 |
0.06 |
Leverage Ratio |
|
9.08 |
8.66 |
8.78 |
8.46 |
8.52 |
7.93 |
8.15 |
7.93 |
8.13 |
7.95 |
Compound Leverage Factor |
|
9.08 |
8.66 |
8.78 |
8.46 |
8.52 |
7.93 |
8.15 |
7.93 |
8.13 |
7.95 |
Debt to Total Capital |
|
6.06% |
5.86% |
34.40% |
5.69% |
5.63% |
5.54% |
5.52% |
5.51% |
5.46% |
5.44% |
Short-Term Debt to Total Capital |
|
0.00% |
0.00% |
30.41% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
6.06% |
5.86% |
3.99% |
5.69% |
5.63% |
5.54% |
5.52% |
5.51% |
5.46% |
5.44% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
93.94% |
94.14% |
65.60% |
94.31% |
94.37% |
94.46% |
94.48% |
94.49% |
94.54% |
94.56% |
Debt to EBITDA |
|
0.43 |
0.39 |
3.19 |
0.37 |
0.39 |
0.44 |
0.50 |
0.57 |
0.64 |
0.68 |
Net Debt to EBITDA |
|
-6.97 |
-2.67 |
-3.77 |
-4.42 |
-5.97 |
-4.07 |
-6.37 |
-8.82 |
-14.81 |
-15.82 |
Long-Term Debt to EBITDA |
|
0.43 |
0.39 |
0.37 |
0.37 |
0.39 |
0.44 |
0.50 |
0.57 |
0.64 |
0.68 |
Debt to NOPAT |
|
0.66 |
0.59 |
4.67 |
0.53 |
0.55 |
0.61 |
0.71 |
0.82 |
0.92 |
0.98 |
Net Debt to NOPAT |
|
-10.76 |
-4.02 |
-5.52 |
-6.36 |
-8.43 |
-5.72 |
-9.01 |
-12.54 |
-21.20 |
-22.91 |
Long-Term Debt to NOPAT |
|
0.66 |
0.59 |
0.54 |
0.53 |
0.55 |
0.61 |
0.71 |
0.82 |
0.92 |
0.98 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-0.76 |
-13 |
-327 |
-30 |
-37 |
-27 |
281 |
-16 |
-13 |
-6.36 |
Operating Cash Flow to CapEx |
|
13,829.06% |
18,847.92% |
26,511.50% |
9,358.05% |
2,126.89% |
-1,048.28% |
1,710.49% |
1,609.34% |
1,216.74% |
14,923.58% |
Free Cash Flow to Firm to Interest Expense |
|
-0.36 |
-3.78 |
-46.56 |
-2.51 |
-2.38 |
-1.64 |
16.09 |
-0.84 |
-0.61 |
-0.31 |
Operating Cash Flow to Interest Expense |
|
7.59 |
7.86 |
4.27 |
2.56 |
1.09 |
-0.28 |
0.42 |
0.54 |
0.25 |
0.77 |
Operating Cash Flow Less CapEx to Interest Expense |
|
7.53 |
7.82 |
4.25 |
2.53 |
1.04 |
-0.30 |
0.40 |
0.50 |
0.23 |
0.77 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.03 |
0.04 |
0.04 |
0.04 |
0.04 |
0.04 |
0.03 |
0.03 |
0.03 |
0.03 |
Fixed Asset Turnover |
|
18.33 |
20.06 |
21.51 |
21.90 |
21.16 |
20.07 |
19.07 |
18.01 |
16.94 |
17.24 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
649 |
672 |
987 |
693 |
701 |
712 |
716 |
719 |
725 |
729 |
Invested Capital Turnover |
|
0.28 |
0.29 |
0.25 |
0.31 |
0.30 |
0.28 |
0.21 |
0.25 |
0.24 |
0.24 |
Increase / (Decrease) in Invested Capital |
|
19 |
34 |
346 |
47 |
53 |
41 |
-271 |
26 |
24 |
17 |
Enterprise Value (EV) |
|
-27 |
428 |
62 |
-3.18 |
-125 |
196 |
7.78 |
-83 |
-318 |
-361 |
Market Capitalization |
|
615 |
695 |
463 |
469 |
481 |
565 |
510 |
526 |
598 |
568 |
Book Value per Share |
|
$10.05 |
$10.42 |
$10.63 |
$10.72 |
$10.84 |
$11.01 |
$11.06 |
$11.09 |
$11.18 |
$11.25 |
Tangible Book Value per Share |
|
$7.09 |
$7.47 |
$7.70 |
$7.81 |
$7.94 |
$8.13 |
$8.18 |
$8.23 |
$8.33 |
$8.41 |
Total Capital |
|
649 |
672 |
987 |
693 |
701 |
712 |
716 |
719 |
725 |
729 |
Total Debt |
|
39 |
39 |
339 |
39 |
39 |
40 |
40 |
40 |
40 |
40 |
Total Long-Term Debt |
|
39 |
39 |
39 |
39 |
39 |
40 |
40 |
40 |
40 |
40 |
Net Debt |
|
-642 |
-267 |
-401 |
-472 |
-606 |
-369 |
-502 |
-609 |
-917 |
-928 |
Capital Expenditures (CapEx) |
|
0.12 |
0.14 |
0.11 |
0.33 |
0.79 |
0.44 |
0.43 |
0.65 |
0.44 |
0.11 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
39 |
39 |
339 |
39 |
39 |
40 |
40 |
40 |
40 |
40 |
Total Depreciation and Amortization (D&A) |
|
1.59 |
0.08 |
0.04 |
0.01 |
0.04 |
0.18 |
0.27 |
0.36 |
0.70 |
0.69 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.30 |
$0.35 |
$0.31 |
$0.27 |
$0.26 |
$0.22 |
$0.17 |
$0.15 |
$0.17 |
$0.17 |
Adjusted Weighted Average Basic Shares Outstanding |
|
60.72M |
60.90M |
60.97M |
61.09M |
61.10M |
61.17M |
61.26M |
61.29M |
61.30M |
61.44M |
Adjusted Diluted Earnings per Share |
|
$0.30 |
$0.34 |
$0.31 |
$0.27 |
$0.26 |
$0.21 |
$0.17 |
$0.15 |
$0.17 |
$0.17 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
60.72M |
60.90M |
60.97M |
61.09M |
61.10M |
61.17M |
61.26M |
61.29M |
61.30M |
61.44M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
60.72M |
60.90M |
60.97M |
61.09M |
61.10M |
61.17M |
61.26M |
61.29M |
61.30M |
61.44M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
18 |
21 |
19 |
16 |
16 |
13 |
10 |
9.23 |
11 |
11 |
Normalized NOPAT Margin |
|
35.55% |
38.16% |
36.36% |
33.91% |
33.19% |
30.12% |
24.12% |
22.13% |
24.92% |
22.90% |
Pre Tax Income Margin |
|
51.00% |
54.09% |
51.11% |
47.79% |
46.75% |
41.73% |
34.22% |
31.32% |
34.27% |
31.78% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
12.15 |
8.54 |
3.79 |
1.92 |
1.44 |
1.11 |
0.83 |
0.67 |
0.67 |
0.72 |
NOPAT to Interest Expense |
|
8.47 |
6.02 |
2.70 |
1.36 |
1.02 |
0.80 |
0.58 |
0.47 |
0.49 |
0.52 |
EBIT Less CapEx to Interest Expense |
|
12.10 |
8.50 |
3.77 |
1.89 |
1.39 |
1.09 |
0.80 |
0.63 |
0.65 |
0.72 |
NOPAT Less CapEx to Interest Expense |
|
8.42 |
5.98 |
2.68 |
1.33 |
0.97 |
0.78 |
0.56 |
0.44 |
0.47 |
0.51 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
52.63% |
47.32% |
43.47% |
42.66% |
44.07% |
49.25% |
57.06% |
65.55% |
73.63% |
78.61% |
Augmented Payout Ratio |
|
52.63% |
47.32% |
43.47% |
42.66% |
44.07% |
49.25% |
57.06% |
65.55% |
73.63% |
78.61% |
Key Financial Trends
Heritage Commerce (NASDAQ: HTBK) has demonstrated steady financial performance over the past two years, with notable trends in key areas of its business from quarterly financial statements.
Key positive trends and highlights include:
- Net Interest Income has grown consistently, reaching approximately $44.2 million in Q4 2024 from $42.3 million in Q4 2023 and around $39.4 million in Q2 2024, benefiting from increased Loans and Leases Interest Income which rose to $47.1 million in Q4 2024.
- Consistent Net Income attributable to common shareholders, with $10.6 million in Q4 2024, slightly up from $10.5 million in Q3 2024 and solid growth since 2022 quarters, reflecting stable profitability.
- Efficiency in managing credit risk is indicated by relatively low and stable Provision for Credit Losses, which was $1.33 million in Q4 2024, a controlled increase from prior quarters.
- Salaries and Employee Benefits expenses remain stable, indicating controlled operational costs despite growing loan volumes.
- Significant increase in Deposits during the year—net change in deposits was strong at $90.5 million in Q4 2024, supported by solid deposit growth in prior quarters.
- Strong cash flow from continuing operating activities, with $15.8 million in Q4 2024 and positive inflows in previous quarters, supports business sustainability and liquidity.
- Share count stable, with no dilution, resulting in steady basic and diluted earnings per share of $0.17 in Q4 2024, maintaining shareholder value.
- Heritage Commerce maintains a healthy common equity base, exceeding $680 million as of Q3 2024, providing strong capitalization to absorb potential losses and support growth.
Neutral items (to monitor):
- Total Non-Interest Income remains a modest portion of revenue (~$2.2 million quarterly), with some volatility in realized and unrealized gains.
- The bank’s investment in securities and trading account securities fluctuates quarter-to-quarter, which could impact interest income and capital gains.
Areas of concern or potential risks include:
- Interest Expense on Deposits increased to $19.9 million in Q4 2024 from $16.1 million in Q4 2023, reflecting higher funding costs which could pressure net interest margins if not managed well.
- Other Operating Expenses increased notably to $10.8 million in Q4 2024, up from approximately $9.2 million in Q3 2024 and $8.1 million in Q4 2023, which could impact profitability going forward unless controlled.
- Net Cash from Investing Activities was negative $86.7 million in Q4 2024, driven by large purchases of investment securities; although this may reflect growth strategy, it impacts liquidity.
- Accumulated Other Comprehensive Loss worsened to negative $8.9 million in Q3 2024 versus negative $12 million in Q2 2024, indicating unrealized losses that could affect equity if sustained.
Overall, Heritage Commerce shows steady growth in core lending and deposit activities, supplemented by controlled credit losses and consistent earnings. The bank’s expanding balance sheet and equity position suggest capacity for growth, while rising operating expenses and interest costs warrant careful monitoring to maintain profit margins.
08/26/25 02:41 AMAI Generated. May Contain Errors.