ADDED
As of February 19, 2026, there were 61,593,284 shares of the Registrant s common stock (no par value) outstanding.
Table of Content s HERITAGE COMMERCE CORP INDEX TO ANNUAL REPORT ON FORM 10-K FOR YEAR ENDED DECEMBER 31, 2025 Page PART I.
In addition, this Annual Report on Form 10-K includes forward-looking statements regarding the plans, objectives and expectations in connection with the proposed merger of the Company with CVB Financial Corp.
The year 2025 was a consequential time for the Company and we are proud of the way our team worked to deliver solid growth and results, driven by steady performance across the business, sustained client momentum and strong credit quality.
The recently announced proposed merger with CVBF represents an exciting next step in the Company s journey, building on the strength of our franchise and the consistent performance we delivered throughout 2025.
As we work toward the completion of the transaction, we remain fully focused on executing our strategy and continuing to support our clients, colleagues, and communities.
Among these critical steps, during 2025 we: Delivered meaningful balance sheet growth and expanded operating leverage through disciplined expense management.
Continued our positive credit trends during 2025, with nonperforming assets and net charge-offs remaining low at December 31, 2025.
Hired a new Chief Accounting Officer, Jeannie Tam, who brings more than 15 years of financial leadership experience in accounting operations, financial close, and finance transformation within financial services.
Hired a new Chief Financial Officer, Seth Fonti, who brings more than two decades of financial and strategic leadership experience across global and domestic banking institutions.
REMOVED
As of February 14, 2025, there were 61,442,934 shares of the Registrant s common stock (no par value) outstanding.
The proxy statement will be filed with the Securities and Exchange Commission not later than 120 days after the Registrant s fiscal year ended December 31, 2024 .
We made progress in 2024 that we believe is quite substantial, positioning the Company for even more significant progress in 2025 and beyond.
Among these critical steps, during 2024 and the first two months of 2025, we: Grew deposit balances 10% during 2024, driven by our team s success at cultivating local community commercial deposit relationships.
Continued our positive credit trends during 2024, with nonperforming assets and net charge-offs remaining low at December 31, 2024.
Sa, who has extensive experience in banking operations, finance and personnel.
We believe this key initiative will allow us to place greater focus on streamlining our branch operations and back-office functions, and will allow our Chief Executive Officer to concentrate his primary attention to growth and strategy, including business development and organic and potential strategic expansion.
Hired a new Chief People and Culture Officer, Chris Edmonds-Waters, to replace our departing Chief People and Diversity Officer, who relocated outside our market area.
Hired a new General Counsel, Janisha Sabnani, who has more than 15 years experience with increasing levels of responsibility for corporate, securities and regulatory matters within publicly traded financial institutions.
Sabnani s accession will allow us to provide more hands-on responses to internal legal demands across all our departments and operations and will afford significant efficiencies in our employment of outside counsel.