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Parent Company only Condensed Financial Information | 12 Months Ended
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Dec. 31, 2020
Parent Company only Condensed Financial Information |
Parent Company only Condensed Financial Information | 22) Parent Company only Condensed Financial Information The condensed financial statements of Heritage Commerce Corp (parent company only) are as follows: Condensed Balance Sheets
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ |  | 2020 |  | 2019
​ | ​ | (Dollars in thousands)
Assets | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | $ | 20,378 | ​ | $ | 20,260
Investment in subsidiary bank | ​ |  | 595,681 | ​ |  | 594,868
Other assets | ​ |  | 1,881 | ​ |  | 1,761
Total assets | ​ | $ | 617,940 | ​ | $ | 616,889
Liabilities and Shareholders' Equity | ​ | ​ | ​ | ​ | ​ | ​
Subordinated debt, net of issuance costs | ​ | $ | 39,740 | ​ | $ | 39,554
Other liabilities | ​ |  | 311 | ​ |  | 627
Shareholders' equity | ​ |  | 577,889 | ​ |  | 576,708
Total liabilities and shareholders' equity | ​ | $ | 617,940 | ​ | $ | 616,889
​ Condensed Statements of Operations
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2020 |  | 2019 |  | 2018
​ | ​ | (Dollars in thousands)
Dividend from subsidiary bank | ​ | $ | 32,000 | ​ | $ | 22,500 | ​ | $ | 17,000
Other income | ​ | ​ | — | ​ | ​ | 121 | ​ | ​ | —
Interest expense | ​ |  | (2,321) | ​ |  | (2,314) | ​ |  | (2,315)
Other expenses | ​ |  | (3,263) | ​ |  | (3,084) | ​ |  | (3,030)
Income before income taxes and equity in net income of subsidiary bank | ​ |  | 26,416 | ​ |  | 17,223 | ​ |  | 11,655
Equity in undistributed net income of subsidiary bank | ​ |  | 7,255 | ​ |  | 21,757 | ​ |  | 22,161
Income tax benefit | ​ |  | 1,628 | ​ |  | 1,481 | ​ |  | 1,515
Net income | ​ | $ | 35,299 | ​ | $ | 40,461 | ​ | $ | 35,331
​ Condensed Statements of Cash Flows
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2020 |  | 2019 |  | 2018
​ | ​ | (Dollars in thousands)
Cash flows from operating activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net Income | ​ | $ | 35,299 | ​ | $ | 40,461 | ​ | $ | 35,331
Adjustments to reconcile net income to net cash provided by operations: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of restricted stock awards, net | ​ |  | 1,689 | ​ |  | 1,283 | ​ |  | 1,109
Equity in undistributed net income of subsidiary bank | ​ |  | (7,255) | ​ |  | (21,757) | ​ |  | (22,161)
Net change in other assets and liabilities | ​ |  | (250) | ​ |  | 12 | ​ |  | (64)
Net cash provided by operating activities | ​ |  | 29,483 | ​ |  | 19,999 | ​ |  | 14,215
Cash flows from financing activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Payment of cash dividends | ​ |  | (31,079) | ​ |  | (22,723) | ​ |  | (18,464)
Proceeds from exercise of stock options | ​ |  | 1,714 | ​ |  | 1,626 | ​ |  | 2,667
Net cash provided by (used in) financing activities | ​ |  | (29,365) | ​ |  | (21,097) | ​ |  | (15,797)
Net increase (decrease) in cash and cash equivalents | ​ |  | 118 | ​ |  | (1,098) | ​ |  | (1,582)
Cash and cash equivalents, beginning of year | ​ |  | 20,260 | ​ |  | 21,358 | ​ |  | 22,940
Cash and cash equivalents, end of year | ​ | $ | 20,378 | ​ | $ | 20,260 | ​ | $ | 21,358
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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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