Heritage Commerce Corp Reports Q4, FY20 Earnings Release

Heritage Commerce Corp reports Q4 and FY20 earnings, with net income of $12.4 million, or $0.32 per share, and total revenue of $75.3 million. The bank's net interest income increased by 34.5% YoY, while non-interest income rose by 13.3%. Heritage's total assets reached $2.5 billion, with a net loan recovery of $1.8 million. The bank's return on average assets was 1.19% and return on average equity was 7.63%.