FIG Partners Advised Tri-Valley Bank In Merger With Heritage Commerce Corp

FIG Has Now Completed 96 M&A Transactions Totaling More Than
$4.3 Billion In Transaction Value To Date

ATLANTA, December 21, 2017 — Heritage Commerce Corp (NASDAQ:HTBK) and Tri-Valley Bank (OTCBB:TRVB) have announced a definitive merger and reorganization agreement.

FIG Advised Tri-Valley Bank In MergerIn a transaction valued at approximately $31.6 million, Tri-Valley Bank will merge with Heritage Commerce Corp’s banking subsidiary, Heritage Bank of Commerce.

Heritage Commerce Corp will issue approximately 1.9 million shares of its common stock in the merger. As of September 30, 2017, Tri-Valley had $147.2 million in total assets.

Shareholders of Tri-Valley will receive 0.0489 of a share of Heritage common stock for each share of Tri-Valley common stock. Based on the 20-day volume weighted average Heritage stock price of $15.76 as of the close of the market on December 19, 2017, total consideration for each Tri-Valley share would be $0.77.

“We consider Heritage Bank of Commerce to be the premier community bank in the Bay Area,” said Arnold T. Grisham, Tri-Valley President, Chairman and Chief Executive Officer. “We are pleased to join their organization. We believe that all of our constituents, customers, shareholders and employees will benefit from the larger scale and shared commitment to community banking. Heritage has a track record of strong performance, and we are excited to combine with their growing banking franchise.”

The FIG team included Greg Gersack, Senior Managing Principal and Co-Head of Investment Banking; Bob Kotecki, Principal; Patrick Nicolini, Senior Vice President; and Jason Werner, Vice President.

More information is available here.

Since 2003, FIG has been the trusted advisor to community banks and investors. To learn more about FIG’s investment banking services, visit www.figpartners.com.

FIG Partners