Heritage Commerce Corp (NASDAQ: HTBK) has appointed Thomas A. Sa as the new Chief Operating Officer (COO) of the company and its subsidiary, Heritage Bank of Commerce. Mr. Sa, who previously served as President, COO, and CFO of California Bancorp and its subsidiary, California Bank of Commerce, brings over thirty years of experience in community and regional banks to his new role.
As COO, Mr. Sa will report directly to CEO Robertson "Clay" Jones and will be primarily responsible for banking operations, risk management, and information technology systems.
According to CEO Clay Jones, the company is confident that Mr. Sa will play a pivotal role in their efforts to become the community business bank of choice in their market areas. Mr. Sa's extensive experience in guiding strategy, business execution, bank operations, lending, risk management, compliance, and finance is expected to contribute to the company's consistent, profitable growth while navigating the current challenging environment.
Mr. Sa expressed his enthusiasm for joining the company and the bank, emphasizing the talent and commitment of the team. He also expressed confidence in the company's ability to grow, improve investor returns, manage the bank's assets prudently, and ensure compliance with the complex system of laws and regulations governing their business.
Heritage Commerce Corp, established in 1997, is the parent company of Heritage Bank of Commerce, established in 1994, with headquarters in San Jose, CA, and full-service branches in various locations across California. Heritage Bank of Commerce is an SBA preferred lender, and its subsidiary, Bay View Funding, provides business-essential working capital factoring financing to various industries throughout the United States. Following these announcements, the company's shares moved -1.9%, and are now trading at a price of $9.43. For the full picture, make sure to review Heritage Commerce Corp's 8-K report.
