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Posted 15 March, 2021

HERITAGE COMMERCE CORP appointed Walter Kaczmarek as new CEO

Nasdaq:HTBK appointed new Chief Executive Officer Walter Kaczmarek in a 8-K filed on 15 March, 2021.


  The Company's Board of Directors has appointed Walter Kaczmarek as the interim President and Chief Executive Officer of the Company and the Bank.  

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Overview of HERITAGE COMMERCE CORP
Financial Services • Banking
Heritage Commerce Corp. is a holding company, which engages in the provision of banking. It operates through the Banking and Factoring segments. The Banking segment includes the holding company's results of operations. The Factoring segment focuses on factoring originated by Bay View Funding. The company was founded in 1997 and is headquartered in San Jose, CA.
Market Cap
$507M
View Company Details
HERITAGE COMMERCE CORP by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. 


On March 15, 2021, Heritage Commerce Corp, the holding company (the "Company") for Heritage Bank of Commerce (the "Bank"), issued a press release announcing that on March 12, 2021, Keith Wilton retired as President and Chief Executive Officer of the Company and the Bank. Mr. Wilton has also retired as a director from the Company's and the Bank's Board of Directors. The Company's Board of Directors has appointed Walter Kaczmarek as the interim President and Chief Executive Officer of the Company and the Bank. Mr. Kaczmarek is currently a member of the Board of Directors for the Company and the Bank. He has been a director since 2005. He previously served as the President and Chief Executive Officer of the Company and the Bank from 2005 until August 2019. A copy of the press release is filed as Exhibit 99.1 and incorporated by reference.


In connection with Mr. Wilton's retirement, the Company and Mr. Wilton entered into a separation agreement dated March 12, 2021. Pursuant to the agreement, Mr. Wilton will receive a severance payment of $1,475,895, acceleration of vesting on 25,012 shares of restricted common stock and three years of monthly COBRA payments. Mr. Wilton agreed to a release and standard other terms. A copy of the separation agreement is filed as Exhibit 10.1 and incorporated by reference.