Heritage commerce corp (HTBK)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Interest income:
Loans, including fees

116,808

105,635

86,346

79,284

68,259

49,207

41,570

40,800

42,769

49,633

58,602

Securities, taxable

15,836

15,211

13,724

10,432

6,707

7,117

8,937

11,519

9,088

5,236

3,618

Securities, exempt from Federal tax

2,148

2,225

2,256

2,290

2,183

2,025

1,530

112

-

-

9

Other investments, interest-bearing deposits in other financial institutions and Federal funds sold

7,867

6,774

4,585

2,425

1,594

907

749

134

174

218

64

Total interest income

142,659

129,845

106,911

94,431

78,743

59,256

52,786

52,565

52,031

55,087

62,293

Interest expense:
Deposits

8,159

5,506

3,991

3,199

2,403

2,032

2,369

2,800

3,942

8,086

13,462

Subordinated debt

2,686

2,314

1,394

-

-

-

229

1,383

1,871

1,878

1,933

Short-term borrowings

2

2

2

12

19

121

2

4

38

130

62

Repurchase agreements

-

-

-

-

-

-

-

-

24

418

787

Other

-

-

-

-

-

-

-

-

-

-

82

Total interest expense

10,847

7,822

5,387

3,211

2,422

2,153

2,600

4,187

5,875

10,512

16,326

Net interest income before provision for credit losses on loans (1)

131,812

122,023

101,524

91,220

76,321

57,103

50,186

48,378

46,156

44,575

45,967

Provision (credit) for credit losses on loans(1)

846

7,421

99

1,237

32

-338

-816

2,784

4,469

26,804

33,928

Net interest income after provision for credit losses on loans

130,966

114,602

101,425

89,983

76,289

57,441

51,002

45,594

41,687

17,771

12,039

Noninterest income:
Service charges and fees on deposit accounts

4,510

4,113

3,231

3,116

2,803

2,519

2,457

2,333

2,355

2,228

2,221

Increase in cash surrender value of life insurance

1,404

1,045

1,666

1,747

1,697

1,600

1,654

1,720

1,706

1,677

1,664

Servicing income

636

709

973

1,398

1,143

1,296

1,446

1,743

1,743

1,719

1,587

Gain on sales of securities

661

266

-6

1,099

642

97

38

1,560

459

1,955

231

Gain on sales of SBA loans

689

698

1,108

796

843

971

449

702

1,461

1,058

1,306

Gain on proceeds from company-owned life insurance

-

-

-

1,119

-

-

-

-

-

-

-

Loss on sales of other loans

-

-

-

-

-

-

-

-

-

-887

-

Other

2,344

2,743

2,640

2,350

1,857

1,263

1,170

807

698

983

1,018

Total noninterest income

10,244

9,574

9,612

11,625

8,985

7,746

7,214

8,865

8,422

8,733

8,027

Noninterest expense:
Salaries and employee benefits

50,754

43,762

35,719

33,386

35,146

26,250

23,450

21,722

20,574

21,234

22,927

Occupancy and equipment

6,647

5,411

4,578

4,378

4,300

4,053

4,043

3,997

4,083

4,087

3,937

Professional fees

3,259

1,969

2,982

3,471

1,828

1,891

2,588

2,876

2,861

3,975

3,851

Other

24,238

24,379

17,459

16,404

17,399

12,028

10,389

5,338

5,896

5,886

6,462

Data processing

-

-

-

-

-

-

-

983

876

831

912

Software subscriptions

-

-

-

-

-

-

-

1,149

1,078

1,004

865

Insurance expense

-

-

-

-

-

-

-

911

941

1,007

639

Correspondent bank charges

-

-

-

-

-

-

-

611

545

-

-

Advertising and promotion

-

-

-

-

-

-

-

-

-

395

406

FDIC deposit insurance premiums

-

-

-

-

-

-

-

918

1,294

4,002

3,321

Foreclosed assets

-

-

-

-

-

-

-

-45

389

650

518

Premium on redemption of subordinated debt

-

-

-

-

-

-

-

-601

-

-

-

Low income housing investment losses

-

-

-

-

-

-

-

-

1,035

795

922

Writedown of loans held-for-sale

-

-

-

-

-

-

-

-

-

1,080

-

Impairment of goodwill

-

-

-

-

-

-

-

-

-

43,181

-

Total noninterest expense

84,898

75,521

60,738

57,639

58,673

44,222

40,470

39,061

39,572

88,127

44,760

Income before income taxes

56,312

48,655

50,299

43,969

26,601

20,965

17,746

15,398

10,537

-61,623

-24,694

Income tax expense

15,851

13,324

26,471

16,588

10,104

7,538

6,206

5,489

-834

-5,766

-12,709

Net income

40,461

35,331

23,828

27,381

16,497

13,427

11,540

9,909

11,371

-55,857

-11,985

Dividends on preferred stock

-

-

-

1,512

1,792

1,008

-

-

2,333

2,398

2,376

Net income available to common shareholders

-

-

-

25,869

14,705

-

-

-

-

-

-

Dividends and discount accretion on preferred stock

-

-

-

-

-

-

336

1,206

-

-

-

Distributed and undistributed earnings allocated to common shareholders

-

-

-

24,591

13,793

12,419

11,204

8,703

9,038

-58,255

-14,361

Undistributed earnings allocated to Series C preferred stock

-

-

-

1,278

912

1,342

-

-

-

-

-

Distributed and undistributed earnings allocated to common shareholders

-

-

-

-

-

11,077

-

-

-

-

-

Earnings per common share:
Basic (in dollars per share)

0.87

0.85

0.63

0.72

0.48

0.42

0.36

0.27

0.28

-3.64

-1.21

Diluted (in dollars per share)

0.84

0.84

0.62

0.72

0.48

0.42

0.36

0.27

0.28

-3.64

-1.21