SAN JOSE, Calif., Jan. 27, 2011 (GLOBE NEWSWIRE) -- Heritage Commerce Corp (Nasdaq:HTBK), the holding company ("the Company") for Heritage Bank of Commerce ("the Bank"), today reported preliminary results for the fourth quarter and year ended December 31, 2010. The Company reported fourth quarter 2010 net income of $1.7 million, compared to a net loss of ($574,000) in the fourth quarter a year ago. After accrued dividends and discount accretion on preferred stock, the Company reported net income allocable to common shareholders of $1.1 million, or $0.03 per average diluted common share, for the fourth quarter of 2010. In the fourth quarter of 2009, the net loss allocable to common shareholders was ($1.2) million, or ($0.10) per average diluted common share.
Heritage Commerce Corp Reports Second Consecutive Quarterly Profit In 4Q10
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.