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SAN JOSE, Calif. - Heritage Commerce Corp (NASDAQ: HTBK), the parent company of Heritage Bank of Commerce, announced today that Julianne Biagini-Komas has been appointed as the new Chair of the Board of Directors. She succeeds Jack W. Conner, who will now serve as Chair Emeritus and remain on the Board through October 2025 to assist with the transition. The company, currently valued at $563 million, shows promising fundamentals with a "Fair" overall financial health score according to InvestingPro analysis.
Julianne Biagini-Komas, a Certified Public Accountant, has been with the company’s board since 2014 and has played a significant role as Vice Chair since October 2024. Her leadership in the Audit Committee since 2020 has also been notable. Conner, who has led the company for over two decades, expressed confidence in Biagini-Komas’s ability to guide the board and management team moving forward. He praised her for being well-suited to oversee the company’s future growth and direction. Under the current leadership, Heritage Commerce has maintained dividend payments for 13 consecutive years, with a current yield of 5.7%.
In addition to this leadership change, the company also announced the retirement of Laura Roden from the Board following the Annual Meeting of Shareholders this year. Robertson Clay Jones, President & CEO, acknowledged Roden’s 13 years of service and her valuable contributions to the company.
Heritage Commerce Corp, established in October 1997, and its subsidiary, Heritage Bank of Commerce, founded in 1994, have been serving various communities with full-service branches throughout California. The bank is recognized as an SBA Preferred Lender, and its subsidiary Bay View Funding offers working capital factoring financing across the United States. Trading at a P/E ratio of 13.5x and currently appearing undervalued based on InvestingPro analysis, the company maintains strong profitability with positive earnings forecasts. Discover more detailed financial insights and additional ProTips by visiting InvestingPro.
The company cautions that certain statements regarding the Board’s succession plans are forward-looking and subject to risks and uncertainties that could cause actual outcomes to differ. These include the ability to attract and retain qualified directors, integrate new board members effectively, and manage the transition of retiring directors.
This announcement is based on a press release statement by Heritage Commerce Corp. The information presented is intended for factual reporting without endorsement of claims or projections.
In other recent news, Heritage Commerce Corp announced a quarterly cash dividend of $0.13 per share. This dividend will be distributed on May 22 to shareholders who are on record as of May 8. The company has maintained a consistent practice of paying quarterly dividends since 2013. Heritage Commerce Corp operates Heritage Bank of Commerce, which has branches across California, including locations in San Jose, San Francisco, and Oakland. The bank holds the status of an SBA Preferred Lender, highlighting its involvement in small business financing. Additionally, Heritage Commerce Corp owns Bay View Funding, a subsidiary that provides working capital factoring financing to various industries across the United States. This announcement reflects the company’s ongoing commitment to delivering shareholder value through regular dividend payments.
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