2023 Sustainability Report
Vision Statement
Heritage Commerce Corp and Heritage Bank of Commerce aim to be recognized as the business bank of choice and an employer where everyone thrives.
Mission Statement
Our mission is to employ trusted values of relationship-focused business banking, utilizing competitive technology to address the needs of businesses, non-profits, and communities.
About Us
- Founded in 1994, Heritage Bank of Commerce operates in San Jose, California.
- The bank offers banking services to small and medium-sized businesses, professional organizations, non-profits, and community groups.
- Specialty services include SBA lending, corporate finance, construction lending, and cash management.
Key ESG Tenets
- Environmental Responsibility
- Our People
- Our Community
- Governance
Highlights
In 2022, we achieved:
- A 40% profitability increase, with net income reaching $66.6M.
- 60% of office space LEED certified, promoting energy efficiency.
- 63% workforce representation by women and 52% by racially/ethnically diverse individuals.
- Community investments, including $770,000 donated to over 280 organizations and 2,000 volunteer hours.
Environmental Responsibility
We integrate sustainability into our business practices by:
- Achieving LEED certification for 60% of office space.
- Encouraging e-records and e-signature technologies to reduce waste.
- Evaluating climate risks in credit analyses.
Diversity, Equity, Inclusion & Belonging (DEIB)
Our commitment to DEIB includes:
- 100% team member participation in diversity education programs.
- A DEIB Steering Committee guiding inclusion strategies.
- Forming a Culture Ambassador Group for grass-roots DEIB initiatives.
Community Outreach
We support local communities through:
- Financial literacy programs for underserved populations.
- Volunteer efforts totaling over 2,000 hours.
- Investments in affordable housing, totaling $99M in 2022.
Governance
Strong governance practices include:
- Independent board oversight of ESG integration and risk management.
- Annual evaluations of governance policies and director education.
- A transparent shareholder engagement strategy.
For more details on our initiatives, please refer to the full Sustainability Report.
