Walter T. Kaczmarek, President and Chief Executive Officer of Heritage Commerce Corp. (HTBK), reported net interest income was up 13% in the second quarter of 2014 compared to last year, and net income was up 19% compared to 2013. He spoke on July 29 at the KBW Community Bank Investor Conference.
“The company’s been known for years for its strong deposit base,” Kaczmarek said. “The loan portfolio is very diversified, as community banks go.”
Commercial and industrial lending represents 42% of the bank’s portfolio, and another 22% is in owner-occupied commercial real estate, Kaczmarek said.
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Kaczmarek said the 20-year old bank’s strategy is to build a “full franchise” in the northern California market catering to small and medium-size businesses. The bank is attempting to build its franchise through organic growth, and will build de novo branches and is looking for M&A opportunities.
Bank core clients are companies ranging in sales from $5 million to $150 million, with borrowing needs from $3 million to $7 million, Kaczmarek said.
Credit quality metrics are “excellent,” Kaczmarek said. NPAs to total assets are at 0.59%.
The bank’s management team is highly experienced. Senior managers have 29 or more years of banking experience, and regional line managers average more than 20 years of experience in the market, said Kaczmarek.
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