Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Elon Musk’s SpaceX Acquires xAI in Historic Deal Uniting Space and Artificial Intelligence 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Instagram Outage Disrupts Thousands of U.S. Users 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
SAN JOSE, Calif., June 07, 2017 -- Heritage Commerce Corp (NASDAQ:HTBK), the holding company (the “Company”) for Heritage Bank of Commerce, was awarded the Community Bankers Cup by Raymond James & Associates for operating one of the top performing community banks in the country.
“We are honored to be recognized by Raymond James as one of the top community banks in the country, ranking us third out of 281 community banks,” said Walter Kaczmarek, Chief Executive Officer. “The criteria used for measuring exceptional performance during 2016 mirrors our own internal performance metrics, including building long-term shareholder value.”
Raymond James evaluated 281 community banks on six financial performance metrics focused on asset quality, profitability and returns: nonperforming assets to loans and real estate owned, five-year average core deposit percentage, net interest margin, efficiency ratio, return on average assets, and return on average tangible common equity. The selected banks had assets between $500 million and $10 billion, as of December 31, 2016.
About Heritage Commerce Corp
Heritage Commerce Corp, a bank holding company established in February 1998, is the parent company of Heritage Bank of Commerce, established in 1994 and headquartered in San Jose, CA with full-service branches in Danville, Fremont, Gilroy, Hollister, Los Altos, Los Gatos, Morgan Hill, Pleasanton, San Jose, Sunnyvale, and Walnut Creek. Heritage Bank of Commerce is an SBA Preferred Lender. Bay View Funding, a subsidiary of Heritage Bank of Commerce, is based in Santa Clara, CA and provides business-essential working capital factoring financing to various industries throughout the United States. For more information, please visit www.heritagecommercecorp.com.
Contact: Debbie Reuter/ EVP Corporate Secretary 408.494.4542
