Heritage Commerce Corp. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2011. For the quarter, the company reported interest income of $13,010,000 compared to $13,168,000 a year ago. Net interest income before provision for loan losses was $11,788,000 compared to $10,947,000 a year ago. Income before income taxes was $3,121,000 compared to $2,211,000 a year ago. Net income allocable to common shareholders was $2,286,000 or $0.07 per basic and diluted share compared to $1,099,000 or $0.03 per basic and diluted share a year ago. Annualized return on average equity was 5.83% compared to 3.65% a year ago. Annualized return on average tangible equity was 5.90% compared to 3.71% a year ago. Annualized return on average assets was 0.86% compared to 0.50% a year ago. Annualized return on average tangible assets was 0.86% compared to 0.50% a year ago. For the year, the company reported interest income of $52,031,000 compared to $55,087,000 a year ago. Net interest income before provision for loan losses was $46,156,000 compared to $44,575,000 a year ago. Income before income taxes was $10,537,000 compared to loss before income taxes of $61,623,000 a year ago. Net income allocable to common shareholders was $9,038,000 or $0.28 per basic and diluted share compared to net loss allocable to common shareholders of $58,255,000 or $3.64 per basic and diluted share a year ago. Book value per share was $5.30 compared to $4.73 a year ago. Annualized return on average equity was 6.02% compared to annualized loss on average equity of 30.82% a year ago. Annualized return on average tangible equity was 6.11% compared to annualized loss on average tangible equity of 35.66% a year ago. Annualized return on average assets was 0.89% compared to annualized loss on average assets of 4.17% a year ago. Annualized return on average tangible assets was 0.89% compared to annualized loss on average tangible assets of 4.25% a year ago. The net interest income increased primarily due to an increase in the average balance of investment securities, and a decrease in the average balance and rates paid on interest-bearing liabilities, partially offset by a decrease in the average balance of loans. For the quarter, the company reported net charge-offs of $1,579,000 compared to $1,136,000 a year ago.