Heritage Financial

Heritage Financial Corp. is bank holding company, which engages in the business of planning, directing, and coordinating the business activities of wholly owned subsidiary Heritage Bank. It includes commercial lending and deposit relationships with small and medium businesses and their owners in market areas, and attracting deposits from the general public. It also offers real estate construction and land development loans, and consumer loans. The company was founded in August 1997 and is headquartered in Olympia, WA.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Heritage Financial excels in Q4 2022 amidst market challenges

Heritage Financial delivered a strong performance in Q4 and full-year 2022, driven by organic loan growth and prudent credit quality management.
While facing challenges such as deposit balance reduction and inflationary pressures, the company remains focused on efficiency and growth strategies.
Opportunities lie in mid single-digit loan production, stable retail sectors, and adapting to evolving market trends for sustained success.
Overall, Heritage Financial maintains confidence in its portfolio and is well-positioned to navigate current market conditions.

Heritage Financial reports solid Q1 performance amidst industry challenges

Heritage Financial Corporation delivered a solid performance in Q1 2023, with strong loan growth and a focus on credit quality. Despite challenges like declining net interest income, the company remains optimistic about deposit growth and loan opportunities.
The company's liquidity position was strengthened, and credit quality remained stable. Opportunities lie in capital management strategies, new hires driving growth, and a favorable market position with a strong commercial loan pipeline.
While facing challenges like margin decline and slower deal movements, Heritage Financial Corporation's strategic focus on core relationships and new customer opportunities positions it well for future success. The company's cautious approach to capital management reflects a prudent stance amidst economic uncertainty.

Heritage Financial reports solid Q2 performance amidst credit quality focus

Heritage Financial's Q2 performance was solid, with a focus on credit quality and loan growth.
The company faces challenges from deposit pricing pressures and inflationary impacts on expenses.
Opportunities lie in margin stabilization, economic recovery signs, and strategic loan portfolio management.
Maintaining a strong credit profile and capital position remains a key strength for the company.

Heritage Financial (HFWA) reports solid Q3 earnings amidst margin pressure

Heritage Financial's Q3 performance showed resilience in earnings but faced challenges with margin pressure. Despite this, the company's strong credit quality and management's confidence provide a solid foundation for navigating future uncertainties and exploring growth opportunities.

Heritage Financial (HFWA) posts strong Q4 results amidst expense reduction and loan growth

Heritage Financial (HFWA) reported strong Q4 earnings driven by robust loan growth and solid credit quality. The company's focus on expense reduction and active balance sheet management set a positive outlook for 2024. Challenges in deposit balances and net interest income were addressed through strategic measures, highlighting the company's resilience and adaptability.

Heritage Financial (HFWA) reports solid Q1 performance and growth outlook

Heritage Financial's Q1 performance showcased resilience amidst challenges, with a focus on managing expenses and driving growth.
Strong loan growth and stable credit quality underscore the company's sound financial position and risk management practices.
While facing challenges such as decreased deposit balances, the company remains optimistic about future prospects and opportunities for improvement.

Heritage Financial (HFWA) reports strong Q2 performance and outlines growth strategies

Heritage Financial's Q2 2024 earnings call showcased strong performance, stable credit quality, and prudent risk management. The company's focus on active balance sheet management and robust loan growth positions it well for future opportunities and growth.

Heritage Financial (HFWA) reports robust Q3 results and eyes growth opportunities

Heritage Financial delivered strong financial performance in Q3 2024, marked by growth in key areas and effective capital management. While facing challenges in credit quality, the company is well-positioned to capitalize on opportunities for further growth and optimization.

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Heritage Financial Corp. is a bank holding company, which engages in the business of planning, directing, and coordinating the business activities of wholly owned subsidiary, Heritage Bank. It operates through the following loan portfolio segments: Commercial Business, Residential Real Estate, Real Estate Construction and Land Development, and Consumer. The Commercial Business segment focuses on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The Residential Real Estate segment includes secured by one-to-four family residences located in its primary market areas. The Real Estate Construction and Land Development segment offers construction loans for residential and for commercial and multifamily properties. The Consumer segment provides consumer loans and lines of credit that are both secured and unsecured. The company was founded on August 28, 1997 and is headquartered in Olympia, WA.

Heritage Financial Corporation (HFWA) Q3 2023 Earnings Call Transcript

Heritage Financial (HFWA) came out with quarterly earnings of $0.51 per share, beating the Zacks Consensus Estimate of $0.44 per share. This compares to earnings of $0.59 per share a year ago.

Heritage Financial (HFWA) Q3 Earnings Top Estimates

Net income was $18.2 million, or $0.51 per diluted share, for the third quarter of 2023 compared to $16.8 million, or $0.48 per diluted share, for the second quarter of 2023. Return on average equity increased to 8.80% for the third quarter of 2023 compared to 8.19% for the second quarter of 2023.

HERITAGE FINANCIAL ANNOUNCES THIRD QUARTER 2023 RESULTS AND DECLARES REGULAR CASH DIVIDEND

Heritage Financial Corporation has seen a decline in deposits and a volatile revenue and profit picture in recent years. The bank has been successful in growing its loan book and managing leverage, but its high uninsured deposit exposure is a concern. The company is trading at a discount to its book value and has a low price to earnings multiple, making it an interesting but not bullish investment prospect.

Heritage Financial: I Understand Why Shares Haven't Recovered

Heritage Financial Corporation (NASDAQ:HFWA ) Q2 2023 Earnings Conference Call July 20, 2023 1:00 PM ET Company Participants Jeffrey Deuel - CEO Donald Hinson - CFO Bryan McDonald - President and COO Anthony Chalfant - Chief Credit Officer Conference Call Participants David Feaster - Raymond James Matthew Clark - Piper Sandler Jeffrey Rulis - D.A. Davidson Andrew Terrell - Stephens Inc. Kelly Motta - Keefe, Bruyette, & Woods, Inc. Timothy Coffey - Janney Montgomery Scott LLC Operator Hello, and welcome to the Heritage Financial Corporation Q2 2023 Earnings Conference Call.

Heritage Financial Corporation (HFWA) Q2 2023 Earnings Call Transcript

Heritage Financial (HFWA) came out with quarterly earnings of $0.48 per share, missing the Zacks Consensus Estimate of $0.49 per share. This compares to earnings of $0.52 per share a year ago.

Heritage Financial (HFWA) Q2 Earnings and Revenues Lag Estimates

While the top- and bottom-line numbers for Heritage Financial (HFWA) give a sense of how the business performed in the quarter ended June 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Here's What Key Metrics Tell Us About Heritage Financial (HFWA) Q2 Earnings

Net income was $16.8 million, or $0.48 per diluted share, for the second quarter of 2023 compared to $20.5 million, or $0.58 per diluted share, for the first quarter of 2023. Loans receivable increased $123.9 million, or 3.0% in the second quarter of 2023.

HERITAGE FINANCIAL ANNOUNCES SECOND QUARTER 2023 RESULTS AND DECLARES REGULAR CASH DIVIDEND

Heritage Financial (HFWA) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: Heritage Financial (HFWA) Q2 Earnings Expected to Decline

OLYMPIA, Wash. , May 23, 2023 /PRNewswire/ -- Heritage Financial Corporation (the "Company") (NASDAQ: HFWA), the parent company of Heritage Bank (the "Bank"), announced today that Kroll Bond Rating Agency, LLC ("KBRA") published and affirmed the Company's senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term debt rating of K2.

KBRA Publishes and Affirms Ratings for Heritage Financial Corporation

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Heritage Financial Corporation (HFWA) Q1 2023 Earnings Call Transcript.

Heritage Financial Corporation (HFWA) Q1 2023 Earnings Call Transcript

Heritage Financial (HFWA) came out with quarterly earnings of $0.58 per share, missing the Zacks Consensus Estimate of $0.61 per share. This compares to earnings of $0.56 per share a year ago.

Heritage Financial (HFWA) Q1 Earnings and Revenues Lag Estimates

Net income was $20.5 million, or $0.58 per diluted share, for the first quarter of 2023 compared to $22.5 million, or $0.64 per diluted share, for the fourth quarter of 2022 and $19.8 million, or $0.56 per diluted share, for the first quarter of 2022. Loans receivable increased $76.6 million, or 1.9% (7.7% annualized), in the first quarter of 2023.

HERITAGE FINANCIAL ANNOUNCES FIRST QUARTER 2023 RESULTS AND DECLARES REGULAR CASH DIVIDEND

Heritage Financial (HFWA) Earnings Expected to Grow: Should You Buy?

Margin expansion will slow down due to the recent deterioration of the loan mix. Further, the deposit cost's rate sensitivity will likely increase, which will hurt the margin's growth. The management's expansion efforts and technological investments will likely support loan growth.

Heritage Financial Corporation: Bright Earnings Outlook With Manageable Risk

Heritage Financial Corporation (NASDAQ:HFWA ) Q4 2022 Earnings Conference Call January 26, 2023 1:00 PM ET Company Participants Jeffrey Deuel - Chief Executive Officer Donald Hinson - Executive Vice President and Chief Financial Officer Bryan McDonald - President and Chief Operating Officer Conference Call Participants Matthew Clark - Piper Sandler & Co. Eric Spector - Raymond James & Associates, Inc. Jeffrey Rulis - D.A. Davidson & Co. Andrew Terrell - Stephens Inc. Kelly Motta - Keefe, Bruyette, & Woods, Inc. Operator Thank you for standing by and welcome to the Heritage Financial Corporation Q4 2022 Earnings Conference Call.

Heritage Financial Corporation (HFWA) Q4 2022 Earnings Call Transcript

Heritage Financial (HFWA) delivered earnings and revenue surprises of 0% and 0.01%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Heritage Financial (HFWA) Q4 Earnings Match Estimates

Net income was $22.5 million, or $0.64 per diluted share, for the fourth quarter of 2022 compared to $21.0 million, or $0.59 per diluted share, for the third quarter of 2022 and $19.4 million, or $0.55 per diluted share, for the fourth quarter of 2021. Loans receivable increased $49.6 million, or 1.2% (4.9% annualized), in the fourth quarter of 2022.

HERITAGE FINANCIAL ANNOUNCES FOURTH QUARTER AND ANNUAL 2022 RESULTS AND DECLARES REGULAR CASH DIVIDEND

OLYMPIA, Wash. , Jan. 10, 2023 /PRNewswire/ -- Heritage Bank ("Heritage" or "bank"), a wholly-owned subsidiary of Heritage Financial Corporation (Nasdaq: HFWA), is pleased to announce its expansion into Boise, Idaho.

Heritage Bank Expands into the Boise, Idaho, Market

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.

Heritage Bank Appoints New Executive Vice Presidents and Announces the Retirement of Cindy Hirman, Executive Vice President, Chief Banking Officer

OLYMPIA, Wash., Dec. 21, 2022 /PRNewswire/ -- Heritage Financial Corporation ("Heritage") (Nasdaq: HFWA) is pleased to announce the appointment of Eric K.

Heritage Financial Corporation Appoints Eric K. Chan to its Board of Directors

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Does Heritage Financial (HFWA) have what it takes to be a top stock pick for momentum investors? Let's find out.

What Makes Heritage Financial (HFWA) a Strong Momentum Stock: Buy Now?

Heritage Financial Corporation (NASDAQ:HFWA ) Q3 2022 Earnings Conference Call October 20, 2022 1:00 PM ET Company Participants Jeff Deuel - CEO Donald Hinson - CFO Tony Chalfant - Chief Credit Officer Bryan McDonald - President and COO Conference Call Participants Eric Spector - Raymond James Jeff Rulis - DA Davidson Eleanor Hagan - KBW Operator Good morning. Thank you for attending today's Heritage Financial Corporation Q3 2022 Earnings Call.

News for Heritage Financial Stock (HFWA)