SAN JOSE, Calif., June 07, 2017 (GLOBE NEWSWIRE) -- 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.