Heritage Commerce Corp. reported consolidated unaudited earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported interest income was $12,958,000 against $13,010,000 a year ago. Net interest income after provision for loan losses was $11,542,000 against $10,558,000 a year ago. Income before income taxes was $3,847,000 against $3,121,000 a year ago. Net income available to common shareholders was $2,669,000 against $2,286,000 a year ago. Diluted earnings per share were $0.08 against $0.07 a year ago. Book value per share was $5.71 against $5.30 a year ago. Tangible book value per share was $5.63 against $5.20 a year ago. Annualized return on average equity was 6.25% against 5.83% a year ago. Annualized return on average assets was 0.75% against 0.86% year ago.

For the year, the company reported interest income was $52,565,000 against $52,031,000 a year ago. Net interest income after provision for loan losses was $45,594,000 against $41,687,000 a year ago. Income before income taxes was $14,203,000 against $10,537,000 a year ago. Net income available to common shareholders was $8,703,000 against $9,038,000 a year ago. Diluted earnings per share were $0.27 against $0.28 a year ago. Book value per share was $5.71 against $5.30 a year ago. Tangible book value per share was $5.63 against $5.20 a year ago. Annualized return on average equity was 5.75% against 6.02% a year ago. Annualized return on average assets was 0.73% against 0.89% year ago.

The company reported unaudited consolidated impairment charges for the fourth quarter ended December 31, 2012. For the quarter, the company's net charge-offs was $766,000 against $1,579,000 a year ago.