| Business Summary | | Heritage
Commerce
Corp.
is
the
holding
company
of
Heritage
Bank
of
Commerce,
Heritage
Bank
East
Bay,
Heritage
Bank
South
Valley
and
Bank
of
Los
Altos.
The
Company
offers
a
range
of
loans,
primarily
commercial,
including
real
estate,
construction,
Small
Business
Administration),
inventory
and
accounts
receivable,
and
equipment
loans.
The
Company
also
accepts
checking,
savings,
and
time
deposits;
NOW
and
money
market
deposit
accounts;
and
provides
travelers'
checks,
safe
deposit,
and
other
customary
non-deposit
banking
services.
The
Company
issues
VISA
and
MasterCard
credit
cards
through
the
Independent
Bankers
Association.
The
Company
does
not
have
a
trust
department. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Heritage
Commerce
Corp.
is
a
bank
holding
company
for
Heritage
Bank,
a
state
chartered
bank
with
three
offices
serving
Santa
Clara
and
Alameda
Counties
in
California.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
16%
to
$35
million.
Net
interest
income
after
loan
loss
provision
rose
13%
to
$20.6
million.
Net
income
rose
35%
to
$4.1
million.
Results
reflect
increased
earning
asset
balances
and
increased
gains
on
the
sale
of
loans
and
securities. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Brad Smith, 51 Chairman
and CEO of the Company; Pres and CEO of the Bank | $248K | Richard Conniff, 54 Pres,
COO, Director | 219K | Lawrence McGovern, 46 CFO,
Exec. VP | 186K | Kenneth Corsello, 50 CCO
and Exec. VP | 156K | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|