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8-K - PR06082011-DIR - HERITAGE COMMERCE CORP | pr06082011-dir.htm |
Exhibit
99.1
Steven
L. Hallgrimson Appointed to Heritage Commerce Corp Board of
Directors
San Jose, CA – June 8, 2011 –
Heritage
Commerce Corp
(Nasdaq: HTBK), the
holding company (the "Company”) for Heritage Bank of Commerce (the "Bank”),
today
announced that Steven L. Hallgrimson has been appointed to the board of
directors, effective immediately. Mr. Hallgrimson was appointed to
fill a vacant Board position.
Mr.
Hallgrimson was also appointed to the Audit Committee of the Board of
Directors. The Board has determined that Mr. Hallgrimson meets the
requirements as an "independent" director under the applicable rules and
regulations of The NASDAQ Stock Market. The Board of Directors has
designated Mr. Hallgrimson as the "audit committee financial expert" as defined
under the applicable rules and regulations of the Securities and Exchange
Commission.
"With
over 40 years of business experience, knowledge and contacts in the Silicon
Valley, Steve brings a wealth of legal, accounting and financial expertise to
our Board,” commented Jack Conner, Chairman of the Board. “We welcome
Steve to the Board, and we are excited about his addition to the
team.”
A member
of the California State Bar and California Society of Certified Public
Accountants, Mr. Hallgrimson has been practicing law in San Jose, California
since 1969 in the areas of real estate, taxation and general business
planning. He is currently affiliated with the law firm of Berliner
Cohen located in San Jose, California. Mr. Hallgrimson has founded
and served as a board member for several private business entities engaged in
automobile lending, commercial real estate brokerage and
telecommunications.
He has
previously been an instructor at San Jose State University Business School and
University of California, Santa Cruz teaching a variety of business, real estate
and tax courses. Mr. Hallgrimson also served as a trustee and president of
the Santa Clara County Law Library, and is a former board member of the San Jose
Art Museum. He earned a Bachelor of Arts degree from Claremont
McKenna College and a Juris Doctor from the University of California at
Berkeley, Boalt Hall School of Law.
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 Danville, Fremont, Gilroy, Los Altos,
Los Gatos, Morgan Hill, Mountain View, Pleasanton, and Walnut
Creek. Heritage Bank of Commerce is an SBA Preferred Lender with an
additional Loan Production Office in Santa Rosa, California. For more
information, please visit
www.heritagecommercecorp.com.
Member FDIC