Heritage Commerce Corp (HTBK)

Heritage Commerce Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	180.49	177.63	153.01	139.24	133.17	116.81
Interest Income on Investments	56.47	56.67	35.82	14.01	17.3	25.85
Total Interest Income	236.96	234.3	188.83	153.26	150.47	142.66
Interest Paid on Deposits	73.04	47.56	6.77	4.82	6.26	8.16
Interest Paid on Borrowings	2.15	3.52	2.18	2.32	2.32	2.69
Total Interest Expense	75.19	51.07	8.95	7.13	8.58	10.85
Net Interest Income	161.76	183.22	179.88	146.13	141.89	131.81
Net Interest Income Growth (YoY)	-16.04%	1.86%	23.10%	2.98%	7.65%	8.02%
Gain (Loss) on Sale of Investments	-	-	-	-	0.28	0.66
Other Non-Interest Income	4.64	4.18	4.98	5.48	5.16	4.38
Total Non-Interest Income	8.51	9	10.11	9.69	9.92	10.24
Non-Interest Income Growth (YoY)	-13.46%	-11.01%	4.37%	-2.36%	-3.14%	7.00%
Revenues Before Loan Losses	170.27	192.22	189.99	155.81	151.81	142.06
Provision for Loan Losses	1.1	0.75	0.77	-3.13	13.23	0.85
Revenue	169.17	191.47	189.23	158.95	138.58	141.21
Revenue Growth (YoY)	-16.05%	1.19%	19.05%	14.70%	-1.86%	13.72%
Salaries and Employee Benefits	58.15	54.47	52.15	49.34	48.32	42.25
Occupancy Expenses	3.3	2.73	3.01	9.04	8.02	6.65
Selling, General & Administrative	14.33	13.51	14.82	8.42	7.59	5.18
Other Non-Interest Expense	32.99	30.35	20.37	26.28	22.98	19.74
Total Non-Interest Expense	108.77	101.05	90.36	93.08	86.91	73.82
EBT Excluding Unusual Items	60.4	90.42	98.87	65.87	51.67	67.39
Legal Settlements	-	-	-4.5	-	-	-
Pretax Income	60.4	90.42	94.37	65.87	49.07	56.31
Income Tax Expense	17.17	25.98	27.81	18.17	13.77	15.85
Net Income	43.24	64.44	66.56	47.7	35.3	40.46
Net Income to Common	43.24	64.44	66.56	47.7	35.3	40.46
Net Income Growth	-39.88%	-3.17%	39.53%	35.13%	-12.76%	14.52%
Basic Shares Outstanding	61	61	61	60	59	47
Diluted Shares Outstanding	61	61	61	61	60	48
Shares Change (YoY)	0.28%	0.36%	0.66%	0.86%	25.60%	13.57%
EPS (Basic)	0.71	1.06	1.10	0.79	0.59	0.87
EPS (Diluted)	0.71	1.05	1.09	0.79	0.59	0.84
EPS Growth	-39.62%	-3.67%	37.97%	33.90%	-29.76%	-0.00%
Dividend Per Share	0.520	0.520	0.520	0.520	0.520	0.480
Dividend Growth	0%	0%	0%	0%	8.33%	9.09%
Effective Tax Rate	28.42%	28.73%	29.47%	27.58%	28.06%	28.15%

Source: S&P Capital IQ. Banks template. Financial Sources.