SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Heritage Commerce Corp. (HTBK) on Thursday reported first-quarter profit of $11.6 million.
The bank, based in San Jose, California, said it had earnings of 19 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.
The holding company for Heritage Bank of Commerce posted revenue of $64.5 million in the period. Its revenue net of interest expense was $46.1 million, which missed Street forecasts. Three analysts surveyed by Zacks expected $46.2 million.
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