Earnings summaries and quarterly performance for HERITAGE COMMERCE.
Executive leadership at HERITAGE COMMERCE.
Robertson Clay Jones
Detailed
President and Chief Executive Officer
CEO
CE
Chris Edmonds-Waters
Detailed
Executive Vice President and Chief People and Culture Officer
DK
Deborah K. Reuter
Detailed
Executive Vice President, Chief Risk Officer and Corporate Secretary
DM
Dustin M. Warford
Detailed
Executive Vice President, Chief Banking Officer
GE
Glen E. Shu
Detailed
Executive Vice President, President of Specialty Finance Group and President of Bay View Funding
JS
Janisha Sabnani
Detailed
Executive Vice President and General Counsel
SF
Seth Fonti
Detailed
Executive Vice President and Chief Financial Officer
SS
Susan S. Just
Detailed
Executive Vice President and Chief Credit Officer
TA
Thomas A. Sa
Detailed
Executive Vice President and Chief Operating Officer
Board of directors at HERITAGE COMMERCE.
Research analysts covering HERITAGE COMMERCE.
Recent press releases and 8-K filings for HTBK.
Heritage Commerce Corp Announces Q4 2025 Operating Highlights
HTBK
Earnings
Dividends
Revenue Acceleration/Inflection
- Heritage Commerce Corp reported Q4 2025 GAAP net income of $15.1 million and diluted earnings per share of $0.25, with adjusted figures at $17.2 million and $0.28, respectively.
- The company achieved a reported return on average assets of 1.04% and an adjusted return on average tangible common equity of 12.83% for Q4 2025.
- Loans held-for-investment increased by $71.4 million or 2% to $3.7 billion at December 31, 2025, while total deposits grew by $126.5 million or 2.6% to $4.9 billion.
- The Fully Tax Equivalent (FTE) net interest margin improved to 3.72% in Q4 2025, an increase from 3.60%.
- Asset quality remained strong, with nonperforming loans at $2.8 million, or 0.08% of total loans, as of December 31, 2025.
Jan 30, 2026, 5:00 AM
Heritage Commerce Corp Reports Q4 and Full Year 2025 Results, Announces Merger, and Declares Dividend
HTBK
Earnings
M&A
Dividends
- Heritage Commerce Corp reported adjusted diluted earnings per share of $0.28 for Q4 2025 and $0.91 for the full year 2025, with adjusted full year earnings increasing by 39%.
- The company announced a definitive all-stock merger agreement with CVB Financial Corp. (Citizens Business Bank), valued at approximately $811 million, or $13.00 per HTBK share, which is expected to close in the second quarter of 2026.
- The Board of Directors declared a regular quarterly cash dividend of $0.13 per share, payable on February 19, 2026, to shareholders of record on February 5, 2026.
- For Q4 2025, the company's Fully Tax Equivalent (FTE) Net Interest Margin was 3.72% and total revenue increased by 7% to $53.6 million.
- Asset quality remained strong, with nonperforming assets to total assets at 0.05% for Q4 2025.
Jan 22, 2026, 9:34 PM
Heritage Commerce Corp Announces Merger with CVB Financial Corp.
HTBK
M&A
Board Change
Executive Compensation
- Heritage Commerce Corp (HTBK) has entered into an Agreement and Plan of Reorganization and Merger with CVB Financial Corp. (CVBF), dated December 17, 2025, under which HTBK will merge with and into CVBF, with CVBF continuing as the surviving corporation.
- As part of the merger, each share of HTBK Common Stock will be converted into the right to receive 0.65 shares of CVBF Common Stock.
- Outstanding Company stock options will be cancelled for a cash payment, while most restricted stock awards and performance-based restricted stock unit awards will accelerate and convert into the merger consideration. Restricted stock unit awards granted after December 17, 2025, will convert into substitute CVBF restricted stock unit awards.
- Upon the merger's effective time, Mr. R. Clay Jones will be appointed as President of CVBF and Citizens, and two mutually agreed-upon directors from HTBK will be appointed to the boards of directors of CVBF and Citizens.
- The parties will coordinate the declaration of dividends to ensure HTBK common stock holders do not receive two dividends or fail to receive one dividend in any quarter with respect to their HTBK shares and any CVBF shares received in the merger.
Dec 23, 2025, 9:13 PM
Heritage Commerce Corp and CVB Financial Corp. Announce Merger Agreement
HTBK
M&A
- Heritage Commerce Corp (HTBK) and CVB Financial Corp. (CVBF) have entered into a definitive merger agreement, under which Heritage will merge with and into Citizens Business Bank in an all-stock transaction.
- The transaction is valued at approximately $811 million, or $13.00 per HTBK share based on CVBF’s closing stock price on December 16, 2025. HTBK shareholders will receive 0.6500 shares of CVBF common stock for each HTBK share.
- The merger is expected to close in the second quarter of 2026, subject to customary regulatory and shareholder approvals.
- Upon completion, the combined company will operate with approximately $22 billion in assets and more than 75 offices and branches. The transaction is anticipated to be immediately accretive to Citizens’ earnings per share, with projected 13.2% EPS accretion in 2027, and 7.7% tangible book value per share dilutive with an earn-back period of approximately 2.5 years.
Dec 17, 2025, 10:01 PM
CitiVivi Financial Corporation and Heritage Commerce Corp Announce All-Stock Merger
HTBK
M&A
- CitiVivi Financial Corporation and Heritage Commerce Corp announced an all-stock merger transaction with a fixed exchange ratio of 0.65 CVBF shares for each Heritage share, representing a total deal value of approximately $811 million.
- The transaction is projected to generate 13.2% earnings per share accretion in 2027 and an internal rate of return above 20%. It anticipates a 7.7% tangible book value dilution (including rate marks) with a projected earnback of two and a half years.
- This strategic acquisition, CitiVivi's largest by asset size, will expand its presence into the Bay Area, providing comprehensive geographic coverage of major business banking markets in California. The pro forma company is estimated to have 14.6% CT1 at close.
Dec 17, 2025, 9:30 PM
CitiVivi Financial Corporation Announces All-Stock Merger with Heritage Commerce Corp
HTBK
M&A
- CitiVivi Financial Corporation (CVBF) and Heritage Commerce Corp (HTBK) announced a definitive all-stock merger transaction with a fixed exchange ratio of 0.65 CVBF shares for each Heritage share. The deal is valued at approximately $811 million based on prior day's closing stock prices.
- The merger is projected to generate 13.2% earnings per share accretion in 2027 and an internal rate of return above 20%.
- The transaction is expected to result in 7.7% tangible book value dilution with a projected earnback of two and a half years.
- The combined company is anticipated to achieve approximately 35% cost saves and is estimated to have 14.6% CT1 at close.
- Strategically, the merger expands CVBF's presence into the Bay Area, providing comprehensive geographic coverage of major business banking markets in California. Clay Jones, President and CEO of Heritage Commerce Corp, will join Citizens Business Bank as President.
Dec 17, 2025, 9:30 PM
Citizens Business Bank (CVBF) Announces Acquisition of Heritage (HTBK)
HTBK
M&A
- Citizens Business Bank (CVBF) announced the 100% stock acquisition of Heritage (HTBK) for approximately $811 million, based on yesterday's closing stock prices. The deal involves a fixed exchange ratio of 0.65 CVBF shares for each Heritage share.
- The transaction is projected to generate 13.2% earnings per share accretion in 2027 and an internal rate of return above 20%. It is anticipated to result in 7.7% tangible book value dilution with a projected earnback of two and a half years.
- The merger is expected to achieve approximately 35% cost savings and will result in pro forma ownership of approximately 77% for CVBF and 23% for Heritage. The pro forma company is estimated to have 14.6% CT1 at close.
- The strategic rationale for the merger includes similar cultures, a focus on small and medium business customers, and opportunities to expand products and services, accelerating Heritage's strategic planning footprint and timeline.
Dec 17, 2025, 9:30 PM
CVB Financial Corporation and Heritage Commerce Corporation Announce All-Stock Merger
HTBK
M&A
- CVB Financial Corporation and Heritage Commerce Corporation announced an all-stock merger transaction.
- The deal involves a fixed exchange ratio of 0.65 CVBF shares for each Heritage share, representing a total deal value of approximately $811 million based on closing stock prices prior to the announcement.
- The merger is projected to generate 13.2% earnings per share accretion in 2027 and an internal rate of return above 20%.
- It is expected to result in a 7.7% tangible book value dilution (including rate marks) with a projected earn-back of 2.5 years.
- The combined company aims to expand into the Bay Area, achieving comprehensive geographic coverage of major business banking markets in California.
Dec 17, 2025, 9:30 PM
CVBF to Acquire Heritage Commerce Corp in All-Stock Transaction
HTBK
M&A
- CVBF is set to acquire Heritage Commerce Corp (HTBK) in an all-stock transaction valued at $811 million, or $13.00 per Heritage Commerce share, based on a fixed exchange ratio of 0.6500x CVBF shares for each HTBK share.
- The merger is projected to be 13.2% accretive to 2027E EPS and result in a (7.7%) tangible book value per share dilution, with an earnback period of 2.5 years.
- The combined entity is expected to have pro forma assets of $21.7 billion and deposits of $17.2 billion as of September 30, 2025, significantly expanding CVBF's presence into the desirable Bay Area markets.
- The transaction is anticipated to close in 2Q 2026, pending shareholder and regulatory approvals.
Dec 17, 2025, 9:30 PM
Heritage Commerce Corp and CVB Financial Corp Announce Merger Agreement
HTBK
M&A
Board Change
Management Change
- Heritage Commerce Corp (HTBK) and CVB Financial Corp. (CVBF) have entered into a definitive all-stock merger agreement, valuing Heritage at approximately $811 million, or $13.00 per HTBK share, based on CVBF’s closing stock price on December 16, 2025.
- Under the terms of the agreement, HTBK shareholders will receive 0.6500 shares of CVBF common stock for each HTBK share, and upon closing, HTBK shareholders will own approximately 23% of the combined company.
- The merger is expected to close in the second quarter of 2026 and will create a combined entity with approximately $22 billion in assets and more than 75 offices and branches.
- The transaction is anticipated to be immediately accretive to Citizens' earnings per share, with projected 13.2% EPS accretion in 2027, and is expected to be 7.7% tangible book value per share dilutive with an earn-back period of approximately 2.5 years.
Dec 17, 2025, 9:15 PM
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