Heritage Bank of Commerce

Background

Heritage Bank of Commerce, established in 1994 and headquartered in San Jose, California, operates as a premier community business bank in the heart of Silicon Valley. With a mission to deliver personalized banking solutions, the bank focuses on fostering long-term relationships with clients and communities. As of December 31, 2024, the bank reported assets totaling $5.6 billion.

Key Strategic Focus

The bank's strategic focus centers on providing comprehensive banking services tailored to small and medium-sized businesses. This includes a full suite of commercial lending products, deposit solutions, and treasury management services. Heritage Bank of Commerce is recognized as an SBA Preferred Lender, underscoring its commitment to supporting business growth. Additionally, through its subsidiary, Bay View Funding, the bank offers working capital factoring financing to various industries across the United States.

Financials and Funding

As of December 31, 2024, Heritage Bank of Commerce reported assets totaling $5.6 billion. The bank's financial performance has been recognized by industry analysts; in April 2024, it was ranked 25th on S&P Global Market Intelligence's list of top 50 best-performing community banks with assets between $3 billion and $10 billion.

Technological Platform and Innovation

Heritage Bank of Commerce leverages advanced digital banking platforms to enhance customer experience and operational efficiency. The bank offers a range of digital wallet options, including Samsung Pay, Garmin Pay, Fitbit Pay, Google Pay, and Apple Pay, catering to the evolving needs of its clientele.

Leadership Team

Clay Jones: President and Chief Executive Officer

With over 30 years of experience in community and commercial banking, Clay Jones joined Heritage Bank of Commerce in 2019. He previously served as President at Presidio Bank and was the founding President and CEO of New Resource Bank. Jones holds a B.S. in Business Administration from the University of the Pacific.

Thomas A. Sa: Executive Vice President, Chief Operating Officer, and Interim Chief Financial Officer

Appointed in 2024, Thomas Sa brings over 30 years of experience in California-based community and regional banks. He previously held executive roles at California BanCorp and Bridge Bank, N.A. Sa is a licensed CPA in California and holds a B.S. in Business Administration and Accounting from Humboldt State University.

Susan Just: Executive Vice President, Chief Credit Officer

Joining the bank in September 2023, Susan Just has held senior credit administration roles at institutions including J.P. Morgan Chase and Northern Trust Bank. She holds a B.B.A. from Loyola University of Chicago and an MBA from the Kellogg School of Management at Northwestern University.

Dustin Warford: Executive Vice President, Chief Banking Officer

With Heritage Bank of Commerce since 2006, Dustin Warford has led the Real Estate Industry Division and Peninsula market. He holds a B.S. in Finance and an MBA in Finance from Santa Clara University and is a graduate of The Pacific Coast Banking School.

Glen Shu: Executive Vice President, President of Specialty Finance Group

Glen Shu oversees the bank's Specialty Finance Group, including factoring and asset-based lending. He is also the President of Bay View Funding. Shu has over 30 years of experience in financial services and holds a B.S. in Finance from San Jose State University.

Leadership Changes

In 2024, Thomas A. Sa was appointed as Executive Vice President and Chief Operating Officer, also serving as Interim Chief Financial Officer as of November 2024. His extensive experience in financial management and strategic oversight is expected to contribute significantly to the bank's operations.

Competitor Profile

Market Insights and Dynamics

The community banking sector in the United States is characterized by institutions focusing on personalized services and local market knowledge. Banks with assets between $3 billion and $10 billion, like Heritage Bank of Commerce, play a crucial role in supporting small and medium-sized businesses. The market is competitive, with banks striving to differentiate through service quality, technological innovation, and community engagement.

Competitor Analysis

Renasant Bank: Headquartered in Tupelo, Mississippi, Renasant Bank has expanded through strategic acquisitions, including Heritage Bank of Decatur, Alabama, and Renasant Bancshares of Memphis, Tennessee. As of 2025, Renasant Corporation reported approximately $26 billion in total assets.

Glacier Bancorp: Based in Kalispell, Montana, Glacier Bancorp operates 221 locations across eight states, offering a range of banking services. As of 2022, the company reported assets of $26.6 billion.

Strategic Collaborations and Partnerships

Heritage Bank of Commerce has established partnerships to enhance its service offerings. Through its subsidiary, Bay View Funding, the bank provides working capital factoring financing to various industries nationwide. Additionally, the bank's status as an SBA Preferred Lender enables it to offer specialized lending solutions to small businesses.