SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Heritage Commerce Corp. (HTBK) on Thursday reported fourth-quarter net income of $13.3 million.
The bank, based in San Jose, California, said it had earnings of 22 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.
The holding company for Heritage Bank of Commerce posted revenue of $60.8 million in the period. Its revenue net of interest expense was $44.2 million, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $46.4 million.
For the year, the company reported profit of $64.4 million, or $1.05 per share. Revenue was reported as $192.2 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HTBK at https://www.zacks.com/ap/HTBK