SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Heritage Commerce Corp. (HTBK) on Thursday reported first-quarter profit of $10.2 million.
The San Jose, California-based bank said it had earnings of 17 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 19 cents per share.
The holding company for Heritage Bank of Commerce posted revenue of $59.6 million in the period. Its revenue net of interest expense was $42.1 million, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $43.8 million.
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