Heritage Commerce Corp reported second-quarter 2025 net income of $6.4 million, or $0.10 per average diluted common share. This figure includes a significant $9.2 million pre-tax charge primarily related to a legal settlement and the planned closure of a bank branch.
Excluding these charges, adjusted net income for Q2 2025 was $13.0 million, or $0.21 per average diluted common share, an increase from $11.6 million, or $0.19 per average diluted common share, in the first quarter of 2025. Net interest income grew 15% year-over-year to $44.8 million, and the fully tax equivalent net interest margin expanded to 3.54%.
Loan growth remained positive, with loans held-for-investment increasing $47.4 million, or 1%, quarter-over-quarter, and $154.5 million, or 5%, year-over-year. The company also repurchased 207,989 shares for $1.91 million in Q2 2025, with $13.08 million remaining under its share repurchase program, which was extended to July 31, 2026.
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