Heritage Financial Corporation operates as the bank holding company for Heritage Bank that provides various financial services to small and medium sized businesses and individuals in the United States. The company accepts various deposit products, such as noninterest demand deposits, interest bearing demand deposits, money market accounts, savings accounts, personal checking accounts, and certificates of deposit. Its loan portfolio includes commercial and industrial loans, owner-occupied and non-owner occupied commercial real estate loans, one-to-four family residential loans, real estate construction and land development loans, consumer loans, commercial business loans, lines of credit, term equipment financing, and term real estate loans, as well as commercial business loans to a range of businesses in industries that include real estate and rental and leasing, healthcare, accommodation and food services, retail trade, and construction. The company also originates loans that are guaranteed by the U.S. Small Business Administration; and offers trust services, as well as objective advice. As of January 07, 2021, it had a network of 61 banking offices located in Washington and Oregon. The company was formerly known as Heritage Financial Corporation, M.H.C. and changed its name to Heritage Financial Corporation in 1998. Heritage Financial Corporation was founded in 1927 and is headquartered in Olympia, Washington.
IPO Year:
Exchange: NASDAQ
Website: hf-wa.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 4/24/2023 | $31.00 → $23.00 | Outperform → Mkt Perform | Keefe Bruyette |
| 6/29/2022 | $27.00 → $29.00 | Neutral → Buy | DA Davidson |
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OLYMPIA, Wash., May 6, 2025 /PRNewswire/ -- Heritage Financial Corporation (NASDAQ:HFWA) ("Company"), parent company of Heritage Bank ("Bank"), announced today that Bryan D. McDonald was named President and Chief Executive Officer ("CEO") and appointed to the Board of Directors of the Company and the Bank, as part of the CEO succession plan previously announced in June 2024. Mr. McDonald was also named President and CEO of the Bank effective July 1, 2024. Mr. McDonald held the titles of President and Chief Operating Officer of the Bank from 2021 to 2024 and was the Executive Vice President and Chief Operating Officer of the Bank from 2018 to 2021. He joined the Bank as the Executive Vice Pre
First Quarter 2025 Highlights Net income was $13.9 million, or $0.40 per diluted share, compared to $11.9 million, or $0.34 per diluted share, for the fourth quarter of 2024. Results included a pre-tax loss on sale of securities of $3.9 million resulting in a negative impact of $0.09 per diluted share, which is the same impact as for the fourth quarter of 2024.Net interest margin increased to 3.44%, from 3.36% for the fourth quarter of 2024.Deposits increased $160.7 million, or 2.8% (11.4% annualized).Cost of interest bearing deposits decreased to 1.92%, from 1.98% for the fourth quarter of 2024.Expanded into Spokane, Washington with the hiring of three experienced commercial bankers. Declar
OLYMPIA, Wash., March 27, 2025 /PRNewswire/ -- Heritage Financial Corporation (NASDAQ:HFWA) (the "Company" or "Heritage") anticipates issuing its first quarter earnings release on Thursday, April 24, 2025 before the market opens. The Company has scheduled a telephone conference call to discuss the first quarter earnings on Thursday, April 24, 2025 at 10:00 a.m. Pacific time (1:00 p.m. Eastern time). There will be a live question-and-answer session following the presentation. Participants may register for the call using the link below to receive dial-in details and their own unique PINs. It is recommended you join 10 minutes prior to the start time. Register for the call with the below link:
OLYMPIA, Wash., Jan. 27, 2025 /PRNewswire/ -- Heritage Bank ("Heritage" or "bank"), a wholly-owned subsidiary of Heritage Financial Corporation (NASDAQ:HFWA), is pleased to announce its expansion into Spokane, Wash., with the addition of James Krejci, senior vice president, commercial team leader; Timothy Engh, senior vice president, commercial banking officer; and Sean O'Regan, vice president, commercial banking officer. Subject to the completion of certain conditions, including receipt of the necessary regulatory approvals, Heritage plans to open a branch in Spokane. Bryan McDonald, president and chief executive officer, commented, "We are excited to expand into the Spokane market with th
Fourth Quarter 2024 Highlights Net income was $11.9 million, or $0.34 per diluted share, compared to $11.4 million, or $0.33 per diluted share, for the third quarter of 2024.Results included a pre-tax loss on sale of securities of $3.9 million and $2.9 million in total after-tax costs related to BOLI restructuring, resulting in an aggregate negative impact of $0.17 per diluted share.Loans receivable increased $122.6 million, or 2.6% (10.5% annualized).Net interest margin increased to 3.39%, from 3.33% for the third quarter of 2024.Cost of total deposits decreased to 1.39%, from 1.42% for the third quarter of 2024.Declared a regular cash dividend of $0.24 per share on January 22, 2025, an inc
OLYMPIA, Wash., Jan. 2, 2025 /PRNewswire/ -- Heritage Financial Corporation (NASDAQ:HFWA) (the "Company" or "Heritage") anticipates issuing its fourth quarter and year-end earnings release on Thursday, January 23, 2025 before the market opens. The Company has scheduled a telephone conference call to discuss the fourth quarter and year-end earnings on Thursday, January 23, 2025 at 10:00 a.m. Pacific time (1:00 p.m. Eastern time). There will be a live question-and-answer session following the presentation. Participants may register for the call using the link below to receive dial-in details and their own unique PINs. It is recommended you join 10 minutes prior to the start time. Register for
OLYMPIA, Wash., Dec. 19, 2024 /PRNewswire/ -- Heritage Financial Corporation ("Heritage") (NASDAQ:HFWA) is pleased to announce the appointment of Karen R. Saunders to its Board of Directors. Ms. Saunders was also appointed to the Board of Directors of Heritage's wholly-owned subsidiary, Heritage Bank. The appointment is effective January 1, 2025. "We are pleased to welcome Karen to our board of directors," said Brian L. Vance, Board Chair. "Karen brings the depth of audit, finance, and financial services experience we were searching for along with extensive executive leadershi
Third Quarter 2024 Highlights Net income was $11.4 million, or $0.33 per diluted share, compared to $14.2 million, or $0.41 per diluted share, for the second quarter of 2024.Results include a pre-tax loss on sale of securities of $6.9 million, or $0.16 per diluted share on an after-tax basis.Loans receivable increased $146.9 million, or 3.2% (12.9% annualized).Deposits increased $192.8 million, or 3.5% (13.9% annualized).Non-interest bearing deposits increased $82.9 million, or 5.2% (20.6% annualized).Net interest margin was 3.33%, compared to 3.29% for the second quarter of 2024.Cost of total deposits was 1.42%, compared to 1.34% for the second quarter of 2024.Noninterest expense to average
OLYMPIA, Wash., Oct. 23, 2024 /PRNewswire/ -- Heritage Financial Corporation (NASDAQ:HFWA) (the "Company" or "Heritage"), the parent company of Heritage Bank (the "Bank"), announces that Nicholas ("Nic") Bley will become the Executive Vice President and Chief Operating Officer ("COO") of Heritage Bank and Executive Vice President of Heritage, effective October 28, 2024. Mr. Bley held various titles with JPMorgan Chase & Co. over the past 16 years with his most recent role being the Managing Director and Commercial Real Estate Senior Regional Sales Manager. While with JPMorgan Chase & Co., Mr. Bley also held a variety of leadership positions with broad experience including sales management,
OLYMPIA, Wash., Oct. 1, 2024 /PRNewswire/ -- Heritage Financial Corporation (NASDAQ:HFWA) (the "Company" or "Heritage") anticipates issuing its third quarter earnings release on Thursday, October 24, 2024 before the market opens. The Company has scheduled a telephone conference call to discuss the third quarter earnings on Thursday, October 24, 2024 at 10:00 a.m. Pacific time (1:00 p.m. Eastern time). There will be a live question-and-answer session following the presentation. Participants may register for the call using the link below to receive dial-in details and their own unique PINs. It is recommended you join 10 minutes prior to the start time. Register for the call with the below lin
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Keefe Bruyette downgraded Heritage Financial Corp. from Outperform to Mkt Perform and set a new price target of $23.00 from $31.00 previously
DA Davidson upgraded Heritage Financial Corp. from Neutral to Buy and set a new price target of $29.00 from $27.00 previously
OLYMPIA, Wash., May 6, 2025 /PRNewswire/ -- Heritage Financial Corporation (NASDAQ:HFWA) ("Company"), parent company of Heritage Bank ("Bank"), announced today that Bryan D. McDonald was named President and Chief Executive Officer ("CEO") and appointed to the Board of Directors of the Company and the Bank, as part of the CEO succession plan previously announced in June 2024. Mr. McDonald was also named President and CEO of the Bank effective July 1, 2024. Mr. McDonald held the titles of President and Chief Operating Officer of the Bank from 2021 to 2024 and was the Executive Vice President and Chief Operating Officer of the Bank from 2018 to 2021. He joined the Bank as the Executive Vice Pre
OLYMPIA, Wash., Dec. 19, 2024 /PRNewswire/ -- Heritage Financial Corporation ("Heritage") (NASDAQ:HFWA) is pleased to announce the appointment of Karen R. Saunders to its Board of Directors. Ms. Saunders was also appointed to the Board of Directors of Heritage's wholly-owned subsidiary, Heritage Bank. The appointment is effective January 1, 2025. "We are pleased to welcome Karen to our board of directors," said Brian L. Vance, Board Chair. "Karen brings the depth of audit, finance, and financial services experience we were searching for along with extensive executive leadershi
OLYMPIA, Wash., Jan. 5, 2023 /PRNewswire/ -- Heritage Bank ("Heritage" or "Bank"), a wholly-owned subsidiary of Heritage Financial Corporation (NASDAQ:HFWA), is pleased to announce the appointment of Matt Ray as Executive Vice President Chief Lending Officer, Amy Curran as Executive Vice President Director of Commercial Banking, Kelli Wilson as Executive Vice President Chief Banking Officer and Sabrina Robison as Executive Vice President Chief Human Resources Officer. Robison assumed her new executive title in September 2022, while Ray, Curran and Wilson assumed their new executive roles on January 1, 2023. Wilson will succeed Cindy Hirman who is scheduled to retire in April 2023. Jeff Deuel
OLYMPIA, Wash., Dec. 21, 2022 /PRNewswire/ -- Heritage Financial Corporation ("Heritage") (NASDAQ:HFWA) is pleased to announce the appointment of Eric K. Chan to its Board of Directors. Mr. Chan was also appointed to the Board of Directors of Heritage's wholly-owned subsidiary, Heritage Bank. The appointment is effective January 1, 2023. "We are pleased to welcome Eric to our board of directors," said Brian L. Vance, Board Chair. "Eric brings the depth of finance and operational experience we were searching for along with extensive executive leadership experience. Eric's backg
OLYMPIA, Wash., Nov. 9, 2021 /PRNewswire/ -- Heritage Financial Corporation ("Heritage") (NASDAQ:HFWA), is pleased to announce the appointment of Trevor Dryer and Gail Giacobbe to its Board of Directors. Mr. Dryer and Ms. Giacobbe were also appointed to the Board of Directors of Heritage's wholly-owned subsidiary, Heritage Bank. The appointments are effective January 1, 2022. "We are pleased to welcome Trevor and Gail to our board of directors," said Brian L. Vance, Board Chair. "Trevor is a fintech and small business lending subject matter expert with executive leadership ex
OLYMPIA, Wash., Dec. 21, 2020 /PRNewswire/ -- Heritage Financial Corporation ("Heritage") (NASDAQ: HFWA), is pleased to announce the appointment of Fred Rivera to its Board of Directors. Mr. Rivera was also appointed to the Board of Director of Heritage's wholly-owned subsidiary, Heritage Bank. The appointments were effective December 17, 2020. "We are pleased to welcome Fred to our boards of directors," said Brian L. Vance, Board Chairman. "Fred brings a great deal of business acumen to our board including his legal background, his financial services experience, as well as financial industry regulatory and compliance experience along with his community leadership in the Puget Sound regi
First Quarter 2025 Highlights Net income was $13.9 million, or $0.40 per diluted share, compared to $11.9 million, or $0.34 per diluted share, for the fourth quarter of 2024. Results included a pre-tax loss on sale of securities of $3.9 million resulting in a negative impact of $0.09 per diluted share, which is the same impact as for the fourth quarter of 2024.Net interest margin increased to 3.44%, from 3.36% for the fourth quarter of 2024.Deposits increased $160.7 million, or 2.8% (11.4% annualized).Cost of interest bearing deposits decreased to 1.92%, from 1.98% for the fourth quarter of 2024.Expanded into Spokane, Washington with the hiring of three experienced commercial bankers. Declar
OLYMPIA, Wash., March 27, 2025 /PRNewswire/ -- Heritage Financial Corporation (NASDAQ:HFWA) (the "Company" or "Heritage") anticipates issuing its first quarter earnings release on Thursday, April 24, 2025 before the market opens. The Company has scheduled a telephone conference call to discuss the first quarter earnings on Thursday, April 24, 2025 at 10:00 a.m. Pacific time (1:00 p.m. Eastern time). There will be a live question-and-answer session following the presentation. Participants may register for the call using the link below to receive dial-in details and their own unique PINs. It is recommended you join 10 minutes prior to the start time. Register for the call with the below link:
Fourth Quarter 2024 Highlights Net income was $11.9 million, or $0.34 per diluted share, compared to $11.4 million, or $0.33 per diluted share, for the third quarter of 2024.Results included a pre-tax loss on sale of securities of $3.9 million and $2.9 million in total after-tax costs related to BOLI restructuring, resulting in an aggregate negative impact of $0.17 per diluted share.Loans receivable increased $122.6 million, or 2.6% (10.5% annualized).Net interest margin increased to 3.39%, from 3.33% for the third quarter of 2024.Cost of total deposits decreased to 1.39%, from 1.42% for the third quarter of 2024.Declared a regular cash dividend of $0.24 per share on January 22, 2025, an inc
OLYMPIA, Wash., Jan. 2, 2025 /PRNewswire/ -- Heritage Financial Corporation (NASDAQ:HFWA) (the "Company" or "Heritage") anticipates issuing its fourth quarter and year-end earnings release on Thursday, January 23, 2025 before the market opens. The Company has scheduled a telephone conference call to discuss the fourth quarter and year-end earnings on Thursday, January 23, 2025 at 10:00 a.m. Pacific time (1:00 p.m. Eastern time). There will be a live question-and-answer session following the presentation. Participants may register for the call using the link below to receive dial-in details and their own unique PINs. It is recommended you join 10 minutes prior to the start time. Register for
Third Quarter 2024 Highlights Net income was $11.4 million, or $0.33 per diluted share, compared to $14.2 million, or $0.41 per diluted share, for the second quarter of 2024.Results include a pre-tax loss on sale of securities of $6.9 million, or $0.16 per diluted share on an after-tax basis.Loans receivable increased $146.9 million, or 3.2% (12.9% annualized).Deposits increased $192.8 million, or 3.5% (13.9% annualized).Non-interest bearing deposits increased $82.9 million, or 5.2% (20.6% annualized).Net interest margin was 3.33%, compared to 3.29% for the second quarter of 2024.Cost of total deposits was 1.42%, compared to 1.34% for the second quarter of 2024.Noninterest expense to average
OLYMPIA, Wash., Oct. 1, 2024 /PRNewswire/ -- Heritage Financial Corporation (NASDAQ:HFWA) (the "Company" or "Heritage") anticipates issuing its third quarter earnings release on Thursday, October 24, 2024 before the market opens. The Company has scheduled a telephone conference call to discuss the third quarter earnings on Thursday, October 24, 2024 at 10:00 a.m. Pacific time (1:00 p.m. Eastern time). There will be a live question-and-answer session following the presentation. Participants may register for the call using the link below to receive dial-in details and their own unique PINs. It is recommended you join 10 minutes prior to the start time. Register for the call with the below lin
Second Quarter 2024 Highlights Net income was $14.2 million, or $0.41 per diluted share, for the second quarter compared to $5.7 million, or $0.16 per diluted share, for the first quarter.The second quarter results include a loss on sale of securities of $1.9 million, or $0.04 per diluted share.Loans receivable increased $104.5 million, or 2.4% (9.5% annualized), during the second quarter.Net interest margin was 3.29% for the second quarter compared to 3.32% for the first quarter.Cost of total deposits was 1.34% for the second quarter compared to 1.19% for the first quarter.Noninterest expense to average total assets was 2.21% for the second quarter compared to 2.29% for the first quarter.De
OLYMPIA, Wash., July 3, 2024 /PRNewswire/ -- Heritage Financial Corporation ("Company" or "Heritage") (NASDAQ:HFWA) anticipates issuing its second quarter earnings release on Thursday, July 25, 2024 before the market opens. The Company has scheduled a telephone conference call to discuss the second quarter earnings on Thursday, July 25, 2024 at 10:00 a.m. Pacific time (1:00 p.m. Eastern time). To access the conference call, call the numbers listed below: Live Conference Call (833) 470-1428 Access Code 281184 Replay of Conference Call (866) 813-9403 Access Code 638306 The conference call will be recorded and will be available following the live conference call for replay twenty-four hours a
Net income was $5.7 million, or $0.16 per diluted share, for the first quarter of 2024 compared to $6.2 million, or $0.18 per diluted share, for the fourth quarter of 2023.Significant items in the first quarter of 2024 results include a loss on sale of securities of $10.0 million, or $0.22 per diluted share, and costs relating to expense management measures of $1.1 million, or $0.02 per diluted share.Loans receivable increased $92.5 million, or 2.1% (8.4% annualized), during the first quarter of 2024.Net interest margin was 3.32% for the first quarter of 2024 compared to 3.41% for the fourth quarter of 2023.Cost of total deposits was 1.19% for the first quarter of 2024 compared to 1.01% for
OLYMPIA, Wash., April 2, 2024 /PRNewswire/ -- Heritage Financial Corporation ("Company" or "Heritage") (NASDAQ:HFWA) anticipates issuing its first quarter earnings release on Thursday, April 25, 2024 before the market opens. The Company has scheduled a telephone conference call to discuss the first quarter earnings on Thursday, April 25, 2024 at 10:00 a.m. Pacific time (1:00 p.m. Eastern time). To access the conference call, call the numbers listed below: Live Conference Call (833) 470-1428 Access Code 070217 Replay of Conference Call (866) 813-9403 Access Code 294191 The conference call will be recorded and will be available following the live conference