Heritage Commerce Corp announced on November 13, 2024, that Executive Vice President and Chief Financial Officer Lawrence D. McGovern is expected to depart the Company in February 2025. Mr. McGovern has served the Bank and Company for 26 years.
Thomas A. Sa, who currently serves as the Chief Operating Officer, will assume the duties of Chief Financial Officer on an interim basis starting November 18, 2024. This interim appointment will allow the Company to conduct a search for a permanent replacement.
CEO Robertson 'Clay' Jones stated that Mr. McGovern's departure does not relate to any concerns regarding the integrity or reliability of the Company's financial statements. Mr. Sa's extensive banking and securities reporting experience, including prior CFO roles, positions him to serve effectively as Interim CFO.
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