SAN JOSE, Calif., Sept. 2, 2008 (GLOBE NEWSWIRE) -- Heritage Commerce Corp
(Nasdaq:HTBK), parent company of Heritage Bank of Commerce, announced today that
Michael R. Ong has joined the bank as their Executive Vice President and Chief
Risk Officer.
"We are delighted to add Michael Ong to our senior management team," said Walter
Kaczmarek, President and Chief Executive Officer. "Mike brings a wealth of
experience, having spent over 35 years in banking, with 24 of those years in San
Jose. Known as a manager who develops teams and mentors high-potential employees
into executive ranks, he also has a track record of success in all facets of
commercial lending and credit risk management and is a result oriented banker."
In the newly created position of Chief Risk Officer, Ong will be responsible for
risk control in various areas of the bank, including credit, compliance, loan
services and legal.
Formerly with First Bank and Comerica Bank, Ong has extensive experience in risk
control and credit management. He has served on a number of community oriented
boards, including RMA (Risk Management Association), CCRC (California Community
Reinvestment Corporation) and CEDLI (California Economic Development Lending
Initiative). A graduate of California State University, Ong earned his Masters
of Business Administration from the University of Southern California. He also
completed post graduate work, earning an Executive Award Certificate at the
Graduate School of Credit and Financial Management at Dartmouth College. In
2007, Ong received the award for Outstanding Leadership and Innovation in
Community Economic Development by CEDLI and CARAT (California Resources and
Training).
Heritage Commerce Corp, a bank holding company established in February 1998, is
the parent company of Heritage Bank of Commerce, established in 1994 and
headquartered in San Jose with full-service branches in Los Gatos, Fremont,
Danville, Pleasanton, Walnut Creek, Morgan Hill, Gilroy, Mountain View, and Los
Altos. Heritage Bank of Commerce is an SBA Preferred Lender with Loan Production
Offices in Fresno, Sacramento, Oakland and Santa Rosa, California. For more
information, please visit www.heritagecommercecorp.com.
Forward Looking Statement Disclaimer
This release may contain forward-looking statements that are subject to risks
and uncertainties. Such risks and uncertainties may include, but are not
necessarily limited to, the Company's ability to sustain dividend payments,
fluctuations in interest rates and monetary policy established by the Federal
Reserve, inflation, government regulations, general economic conditions,
competition within the business areas in which the Company is conducting its
operations, including the real estate market in California, the ability to
recognize identified cost savings, and other factors beyond the Company's
control. Such risks and uncertainties could cause results for subsequent interim
periods or for the entire year to differ materially from those indicated. For a
discussion of factors which could cause results to differ, please see the
Company's reports on Forms 10-K and 10-Q as filed with the Securities and
Exchange Commission and the Company's press releases. Readers should not place
undue reliance on the forward-looking statements, which reflect management's
view only as of the date hereof. The Company undertakes no obligation to
publicly revise these forward-looking statements to reflect subsequent events or
circumstances.
Member FDIC
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CONTACT: Heritage Commerce Corp.
Diana Isa, Vice-President, Marketing Director
408.494.4538
