Skip to main content

KBRA Affirms Ratings for Heritage Commerce Corp

Written by Customer Service on . Posted in Public Companies.

SAN JOSE, Calif., May 26, 2020 (GLOBE NEWSWIRE) — Heritage Commerce Corp (NASDAQ: HTBK) (the “Company”), parent of Heritage Bank of Commerce (the “Bank”), announced today that Kroll Bond Rating Agency (“KBRA”) issued its May 13, 2020 debt rating report. KBRA affirmed the Company’s senior unsecured debt rating of BBB+, subordinated debt rating of BBB, and short-term debt rating of K2. KBRA graded the outlook long-term ratings for the Company and the Bank as Stable.
KBRA also affirmed Heritage Bank of Commerce’s deposit and senior unsecured debt ratings of A-, subordinated debt rating of BBB+, and the short-term deposit and debt ratings of K2.In affirming its ratings, KBRA cited the Bank’s robust core deposit franchise, the strength of its liquidity position, and consistent credit quality as key credit considerations for the ratings.“Heritage’s hallmarks have always been our industry-leading core deposit base and our unyielding commitment to conservative underwriting and credit quality,” said Keith A. Wilton, President and Chief Executive Officer. “These strengths have never been more important and will serve us well to navigate the challenging economic environment brought on by the coronavirus pandemic.”The complete KBRA press release on Heritage Commerce Corp is available on KBRA’s website, https://www.krollbondratings.com. The press release, credit ratings, and analysis constitute part of the information contained therein are, and must be construed solely as, statements of opinion of KBRA and not statements of fact or recommendations of KBRA or the Company to purchase, sell or hold any of the Company’s securities.Heritage Commerce Corp, a bank holding company established in 1997, 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, Livermore, Los Altos, Los Gatos, Morgan Hill, Palo Alto, Pleasanton, Redwood City, San Francisco, San Jose, San Mateo, San Rafael, 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.Member FDICFor additional information, contact:
Debbie Reuter
EVP, Corporate Secretary
Direct: (408) 494-4542

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.