Heritage commerce corp (HTBK)
Income statement / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Interest income:
Loans, including fees

124,783

116,808

109,686

111,054

110,158

105,635

99,505

93,380

88,232

86,346

84,161

81,966

80,494

79,284

79,134

76,535

72,443

68,259

62,734

57,098

53,072

49,207

45,530

44,186

42,620

41,570

40,919

40,332

40,573

40,800

41,319

41,703

42,096

42,769

44,245

46,452

0

0

0

Securities, taxable

15,275

15,836

16,248

16,227

15,858

15,211

14,921

15,034

14,709

13,724

12,343

11,148

10,535

10,432

9,883

9,152

7,877

6,707

6,053

6,058

6,551

7,117

7,721

8,293

8,645

8,937

9,874

10,308

10,884

11,519

11,143

10,919

10,222

9,088

7,944

6,946

0

0

0

Securities, exempt from Federal tax

2,111

2,148

2,174

2,199

2,213

2,225

2,237

2,245

2,250

2,256

2,261

2,267

2,277

2,290

2,317

2,316

2,256

2,183

2,096

2,034

2,025

2,025

2,006

1,936

1,788

1,530

1,047

0

0

-

0

-

-

-

-

-

-

-

-

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

7,983

7,867

7,458

7,446

7,188

6,774

5,956

5,305

4,900

4,585

3,985

3,288

2,760

2,425

2,002

1,765

1,863

1,594

1,681

1,560

1,119

907

905

713

721

749

179

167

166

134

150

153

176

174

193

176

0

0

0

Total interest income

150,152

142,659

135,566

136,926

135,417

129,845

122,619

115,964

110,091

106,911

102,750

98,669

96,066

94,431

93,336

89,768

84,439

78,743

72,564

66,750

62,767

59,256

56,162

55,128

53,774

52,786

52,121

51,525

51,983

52,565

52,617

52,775

52,494

52,031

52,382

53,574

0

0

0

Interest expense:
Deposits

8,108

8,159

7,607

7,140

6,384

5,506

4,895

4,371

4,078

3,991

3,734

3,509

3,323

3,199

3,072

2,869

2,642

2,403

2,169

2,046

2,019

2,032

2,101

2,176

2,265

2,369

2,451

2,566

2,709

2,800

2,895

3,057

3,387

3,942

5,120

6,425

0

0

0

Subordinated debt

2,692

2,686

2,314

2,314

2,314

2,314

2,314

1,959

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

229

320

615

997

1,383

1,762

1,884

1,879

1,871

1,874

1,874

0

0

0

Short-term borrowings

-

-

-

0

-

-

0

-

-

-

-

-

-

12

0

0

0

-

-

-

-

-

-

0

-

2

4

5

0

-

0

0

-

-

-

-

-

0

0

Repurchase agreements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

Total interest expense

10,802

10,847

9,923

9,457

8,700

7,822

7,212

6,687

6,045

5,387

4,546

3,738

3,324

3,211

3,102

2,899

2,672

2,422

2,289

2,166

2,140

2,153

2,102

2,229

2,407

2,600

2,773

3,184

3,711

4,187

4,662

4,944

5,275

5,875

7,183

8,647

0

0

0

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

139,350

131,812

125,643

127,469

126,717

122,023

115,407

109,277

104,046

101,524

98,204

94,931

92,742

91,220

90,234

86,869

81,767

76,321

70,275

64,584

60,627

57,103

54,060

52,899

51,367

50,186

49,348

48,341

48,272

48,378

47,955

47,831

47,219

46,156

45,199

44,927

0

0

0

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

15,177

846

-2,235

-2,084

5,854

7,421

6,988

7,528

284

99

630

760

1,157

1,237

1,368

822

493

32

-445

-168

-388

-338

-766

-1,012

0

-

0

0

-

2,784

3,344

3,659

3,799

4,469

5,298

22,383

0

0

0

Net interest income after provision for credit losses on loans

124,173

130,966

127,878

129,553

120,863

114,602

108,419

101,749

103,762

101,425

97,574

94,171

91,585

89,983

88,866

86,047

81,274

76,289

70,720

64,752

61,015

57,441

54,304

53,653

52,193

51,002

49,483

46,742

45,588

45,594

44,611

44,172

43,420

41,687

39,901

22,544

0

0

0

Noninterest income:
Service charges and fees on deposit accounts

4,318

4,510

4,502

4,577

4,372

4,113

3,802

3,564

3,393

3,231

3,178

3,107

3,089

3,116

3,065

3,015

2,947

2,803

2,708

2,591

2,522

2,519

2,514

2,528

2,500

2,457

2,407

2,337

2,320

2,333

2,362

2,392

2,378

2,355

2,295

2,269

0

0

0

Gain on the disposition of foreclosed assets

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase in cash surrender value of life insurance

1,532

1,404

1,228

1,108

1,012

1,045

1,223

1,424

1,607

1,666

1,689

1,700

1,720

1,747

1,789

1,790

1,746

1,697

1,629

1,601

1,602

1,600

1,610

1,623

1,636

1,654

1,668

1,688

1,707

1,720

1,728

1,720

1,710

1,706

1,698

1,685

0

0

0

Servicing income

628

636

656

680

719

709

770

853

869

973

1,028

1,146

1,312

1,398

1,430

1,280

1,208

1,143

1,138

1,240

1,254

1,296

1,342

1,357

1,429

1,446

1,488

1,586

1,648

1,743

1,799

1,804

1,792

1,743

1,722

1,713

0

0

0

Gain on sales of securities

0

-

0

0

-

266

266

266

87

-6

566

566

913

1,099

0

0

0

-

-

-

-

97

97

50

57

38

434

1,539

1,564

1,560

0

0

0

-

-

-

-

0

-

Gain on sales of SBA loans

617

689

478

558

602

698

1,024

935

1,019

1,108

778

700

815

796

836

1,034

941

843

773

765

1,021

971

934

778

470

449

442

560

802

702

971

1,018

1,118

1,461

1,552

1,447

0

0

0

Gain on proceeds from company-owned life insurance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on sales of other loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

Other

2,322

2,344

2,502

2,361

2,963

2,743

2,660

2,957

2,537

2,640

2,748

2,620

2,338

2,350

2,107

1,862

2,009

1,857

1,720

1,528

1,209

1,263

1,335

1,364

1,476

1,170

981

920

764

807

701

696

744

698

855

974

0

0

0

Total noninterest income

10,969

10,244

10,244

9,832

9,847

9,574

9,745

9,999

9,512

9,612

10,087

9,939

11,306

11,625

11,415

11,169

9,673

8,985

7,968

7,772

7,655

7,746

7,832

7,700

7,568

7,214

7,420

8,630

8,805

8,865

9,184

8,148

8,228

8,422

8,727

8,693

0

0

0

Noninterest expense:
Salaries and employee benefits

54,187

50,754

40,705

40,957

44,755

43,762

42,945

41,297

36,010

35,719

35,100

34,392

33,925

33,386

35,086

37,081

36,051

35,146

33,072

28,942

28,049

26,250

25,093

24,637

23,682

23,450

22,989

22,553

22,066

21,722

21,450

21,114

20,848

20,574

20,776

21,267

0

0

0

Occupancy and equipment

6,913

6,647

6,118

6,127

5,811

5,411

5,079

4,662

4,616

4,578

4,518

4,496

4,361

4,378

4,442

4,385

4,340

4,300

4,210

4,202

4,153

4,053

3,948

3,879

3,920

4,043

4,075

4,130

4,069

3,997

4,006

3,977

4,041

4,083

4,162

4,133

0

0

0

Acquisition and integration related costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Professional fees

3,876

3,259

3,213

3,145

2,103

1,969

1,659

1,633

2,595

2,982

3,291

3,682

3,717

3,471

3,501

3,027

2,558

1,828

1,508

1,513

1,400

1,891

1,933

1,918

2,192

2,588

2,592

2,577

2,647

2,876

3,127

3,247

3,233

2,861

2,782

3,219

0

0

0

Other

27,778

24,238

21,177

20,803

24,780

24,379

24,219

23,416

18,179

17,459

16,784

16,585

16,279

16,404

17,694

18,353

18,133

17,399

19,259

15,841

13,643

12,028

10,031

10,490

10,524

10,389

5,792

5,545

5,211

5,338

4,833

5,153

5,629

5,896

6,079

6,371

0

0

0

Data processing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

1,077

1,070

990

983

968

950

901

876

840

825

0

0

0

Software subscriptions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

1,237

1,131

1,150

1,149

1,171

1,152

1,113

1,078

1,046

1,042

0

0

0

Insurance expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

1,027

970

941

911

870

904

924

941

958

995

0

0

0

Correspondent bank charges

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

670

656

632

611

0

0

0

-

-

-

-

-

-

Amortization of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Advertising and promotion

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

FDIC deposit insurance premiums

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

909

957

952

918

895

814

995

1,294

1,923

2,775

0

0

0

Foreclosed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-517

-516

-315

-45

386

461

483

389

281

266

0

0

0

Premium on redemption of subordinated debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

Low income housing investment losses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

1,011

1,364

1,142

1,035

1,033

549

0

0

0

Subordinated debt redemption charges

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Writedown of loans held-for-sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

Impairment of goodwill

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Total noninterest expense

92,754

84,898

71,213

71,032

77,449

75,521

73,902

71,008

61,400

60,738

59,693

59,155

58,282

57,639

60,723

62,846

61,082

58,673

53,727

47,800

45,952

44,222

40,727

40,615

40,235

40,470

40,154

39,921

38,986

39,061

40,317

39,979

39,997

39,572

40,960

85,703

0

0

0

Income before income taxes

42,388

56,312

66,909

68,353

53,261

48,655

44,262

40,740

51,874

50,299

47,968

44,955

44,609

43,969

39,558

34,370

29,865

26,601

24,961

24,724

22,718

20,965

21,409

20,738

19,526

17,746

16,749

15,451

15,407

15,398

13,478

12,341

11,651

10,537

7,668

-54,466

0

0

0

Income tax expense

12,212

15,851

18,901

19,247

14,593

13,324

20,905

21,175

25,775

26,471

18,183

16,988

16,796

16,588

14,969

13,087

11,400

10,104

9,285

9,082

8,229

7,538

8,230

7,771

7,090

6,206

5,894

5,323

5,393

5,489

3,351

-117

-214

-834

-1,467

-4,691

0

0

0

Net income

30,176

40,461

48,008

49,106

38,668

35,331

23,357

19,565

26,099

23,828

29,785

27,967

27,813

27,381

24,589

21,283

18,465

16,497

15,676

15,642

14,489

13,427

13,179

12,967

12,436

11,540

10,855

10,128

10,014

9,909

10,127

12,458

11,865

11,371

9,135

-49,775

0

0

0

Dividends on preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

1,512

1,960

1,904

1,848

1,792

1,624

1,456

1,232

1,008

0

0

0

-

0

-

-

-

1,807

2,339

2,943

2,333

1,925

2,402

0

0

0

Distributed and undistributed earnings allocated to common shareholders

-

-

-

-

-

-

-

-

-

-

-

-

-

24,591

21,717

18,467

15,705

13,793

14,052

14,186

13,257

12,419

12,283

12,183

11,876

11,204

10,687

10,128

10,014

8,703

8,320

10,119

8,922

9,038

7,210

-52,177

0

0

0

Undistributed earnings allocated to Series C preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

1,278

1,390

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributed and undistributed earnings allocated to common shareholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

0.03

0.07

0.26

0.26

0.28

0.31

0.29

0.02

0.23

0.04

0.22

0.20

0.17

0.19

0.18

0.19

0.16

0.11

0.10

0.14

0.13

0.11

0.11

0.10

0.10

0.10

0.10

0.09

0.07

0.08

0.08

0.08

0.03

0.07

0.13

0.05

0.03

0.01

-4.66

Diluted (in dollars per share)

0.03

0.04

0.26

0.26

0.28

0.31

0.28

0.02

0.23

0.04

0.22

0.19

0.17

0.19

0.18

0.19

0.16

0.11

0.10

0.14

0.13

0.11

0.11

0.10

0.10

0.10

0.10

0.09

0.07

0.08

0.08

0.08

0.03

0.07

0.13

0.05

0.03

0.01

-4.66