Heritage Commerce, through its subsidiary Heritage Bank of Commerce, provides a range of banking services. The Bank is a California state-chartered multi-community independent bank that offers a range of commercial banking services to small and medium-sized businesses and their owners, managers and employees. Heritage Commerce offers a range of deposit products for business banking and retail markets, including checking accounts, savings accounts, demand deposits, money market accounts, and time deposits. The Company also provides various loan products comprising commercial loans, such as operating secured and unsecured loans advanced for working capital, equipment purchases, and other business purposes.

Type
Public
HQ
San Jose, US
Founded
1994
Size (employees)
282 (est)
Heritage Commerce was founded in 1994 and is headquartered in San Jose, US
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Heritage Commerce Office Locations

Heritage Commerce has offices in Walnut Creek, Sunnyvale, Pleasanton, Morgan Hill and in 7 other locations
San Jose, US (HQ)
150 Almaden Blvd
Danville, US
387 Diablo Rd
Fremont, US
3137 Stevenson Blvd
Gilroy, US
110 7598 Monterey Rd
Hollister, US
102a 351 Tres Pinos Rd
Los Altos, US
419 S San Antonio Rd
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Heritage Commerce Financials and Metrics

Heritage Commerce Financials

Heritage Commerce's revenue was reported to be $106.06 m in FY, 2016 which is a 20.9% increase from the previous period.
USD

Revenue (Q1, 2018)

30.1 m

Gross profit (Q1, 2018)

28.5 m

Gross profit margin (Q1, 2018), %

94.9%

Net income (Q1, 2018)

8.8 m

EBIT (Q1, 2018)

25.8 m

Market capitalization (22-Jun-2018)

757.8 m

Closing share price (22-Jun-2018)

17.6

Cash (31-Mar-2018)

302 m
Heritage Commerce's current market capitalization is $757.8 m.
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

60 m67 m87.7 m106.1 m

Revenue growth, %

12%31%21%

Cost of goods sold

2.4 m3.2 m5.4 m

Gross profit

85.3 m102.8 m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Revenue

20.3 m22.4 m25.7 m27.2 m26.2 m27 m28.4 m30.1 m

Cost of goods sold

533 k623 k758 k760 k826 k871 k1.2 m1.5 m

Gross profit

19.8 m21.7 m24.9 m26.4 m25.4 m26.1 m27.2 m28.5 m

Gross profit Margin, %

97%97%97%97%97%97%96%95%
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

112.6 m122.4 m344.1 m266.1 m316.2 m

Accounts Receivable

Inventories

PP&E

7.2 m7.5 m7.8 m7.5 m7.4 m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Cash

41.9 m85 m49.4 m154.1 m151.8 m131.3 m392.9 m143.1 m158.8 m344.4 m287.8 m266 m302 m

PP&E

7.4 m7.2 m7.2 m7.4 m7.3 m7.2 m7.5 m7.6 m7.5 m7.6 m7.5 m7.6 m7.2 m

Goodwill

13.1 m13.1 m44.9 m45.7 m45.7 m45.7 m45.7 m45.7 m45.7 m

Total Assets

1.4 b1.5 b1.5 b1.6 b1.7 b1.7 b2.3 b2.3 b2.4 b2.5 b2.6 b2.7 b2.8 b
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

11.5 m13.4 m16.5 m27.4 m23.8 m

Depreciation and Amortization

729 k725 k685 k763 k786 k

Inventories

Accounts Payable

Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Net Income

8.2 m3.1 m6.4 m9.8 m4.1 m8.6 m12.1 m6.1 m13.4 m20.2 m6.5 m14 m8.8 m

Depreciation and Amortization

539 k177 k353 k539 k186 k366 k527 k169 k361 k565 k190 k385 k196 k

Cash From Operating Activities

8.1 m5.3 m9.4 m11.8 m1.3 m7.2 m16 m8 m14.9 m18.2 m12.4 m17.1 m12.4 m

Cash From Investing Activities

(45.5 m)(7.4 m)(51.7 m)(21.9 m)(4.7 m)(52.1 m)92.5 m(168.8 m)(202 m)(161.2 m)(55.2 m)(162 m)37.9 m
USDY, 2018

Revenue/Employee

106.6 k

Financial Leverage

10.3 x
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Heritage Commerce Operating Metrics

Heritage Commerce's Total Loans was reported to be $1.6b in Q2, 2017.
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