Earnings summaries and quarterly performance for HERITAGE FINANCIAL CORP /WA/.
Executive leadership at HERITAGE FINANCIAL CORP /WA/.
Bryan D. McDonald
Detailed
President and Chief Executive Officer
CEO
Amy E. Curran
Detailed
Executive Vice President and Director of Commercial Lending
Donald J. Hinson
Detailed
Executive Vice President and Chief Financial Officer
Kelli A. Wilson
Detailed
Executive Vice President and Chief Retail Banking Officer
Matthew T. Ray
Detailed
Executive Vice President and Chief Lending Officer
Nicholas M. Bley
Detailed
Executive Vice President and Chief Operating Officer
Sabrina C. Robison
Detailed
Executive Vice President and Chief Human Resources Officer
Thomas J. Henning
Detailed
Executive Vice President and Chief Risk Officer
Tony W. Chalfant
Detailed
Executive Vice President and Chief Credit Officer
William K. Glasby
Detailed
Executive Vice President and Chief Information Officer
Board of directors at HERITAGE FINANCIAL CORP /WA/.
Ann Watson
Detailed
Director
Brian L. Vance
Detailed
Chair of the Board
Brian S. Charneski
Detailed
Lead Independent Director
Frederick B. Rivera
Detailed
Director
Gail B. Giacobbe
Detailed
Director
Jeffrey S. Lyon
Detailed
Director
Karen R. Saunders
Detailed
Director
Kimberly T. Ellwanger
Detailed
Director
Trevor D. Dryer
Detailed
Director
Research analysts who have asked questions during HERITAGE FINANCIAL CORP /WA/ earnings calls.
Jeff Rulis
D.A. Davidson & Co.
5 questions for HFWA
Also covers: ALRS, BANR, BMRC +15 more
Liam Coohill
Raymond James
4 questions for HFWA
Also covers: CVBF, FFWM, FHB +1 more
Adam Kroll
Piper Sandler Companies
3 questions for HFWA
Also covers: BWB, BY, HAFC +3 more
Jackson Laurent
Stephens, Inc.
3 questions for HFWA
Also covers: FFWM, RBB
Kelly Motta
Keefe, Bruyette & Woods
3 questions for HFWA
Also covers: AX, BANR, BOH +18 more
Charlie Driscoll
KBW
2 questions for HFWA
Also covers: FHB
Adam Butler
Piper Sandler
1 question for HFWA
Also covers: BMRC, CATY, CVBF +2 more
Andrew Terrell
Stephens Inc.
1 question for HFWA
Also covers: AVBH, BANC, BANR +17 more
Charlie Driscoll
Keefe, Bruyette & Woods
1 question for HFWA
Also covers: CVBF, FCF, FHB +3 more
David Feaster
Raymond James
1 question for HFWA
Also covers: ABCB, ALRS, AX +20 more
Eric Spector
Raymond James
1 question for HFWA
Also covers: TRMK
Jeffrey Allen Rulis
D.A. Davidson
1 question for HFWA
Also covers: QCRH
Matthew Clark
Piper Sandler
1 question for HFWA
Also covers: AVBH, BANC, BMRC +23 more
Recent press releases and 8-K filings for HFWA.
HFWA Reports Strong Q3 2025 Earnings and Progresses Olympic Bank Corp. Merger
HFWA
Earnings
M&A
Guidance Update
- Heritage Financial (HFWA) reported strong Q3 2025 adjusted earnings per share (EPS) up 5.7% quarter-over-quarter and 24.4% year-over-year, with its adjusted return on assets (ROA) improving to 1.11%.
- The company's net interest margin (NIM) increased to 3.64% in Q3 2025 from 3.51% in the prior quarter, driven by a $2.4 million (4.3%) increase in net interest income and a decrease in the cost of interest-bearing deposits to 1.89%.
- Total deposits grew by $73 million in Q3 2025, while total loan balances decreased slightly by $5.7 million; however, new commercial loan commitments were strong at $317 million.
- Credit quality remains robust, with net charge-offs of $118,000 for the quarter and non-performing loans at a low 0.44% of total loans.
- The pending merger with Olympic Bank Corp. is progressing as planned, with an estimated closing date at the beginning of Q1 2026, and the company aims to increase its loan-to-deposit ratio to 85% post-merger.
Oct 23, 2025, 5:00 PM
Heritage Financial Corporation Reports Strong Q3 2025 Earnings and Net Interest Margin Expansion
HFWA
Earnings
M&A
Guidance Update
- Heritage Financial Corporation reported strong Q3 2025 financial results, with adjusted earnings per share (EPS) increasing 5.7% quarter-over-quarter and 24.4% year-over-year, and adjusted return on assets (ROA) improving to 1.11%.
- The net interest margin (NIM) expanded to 3.64% for Q3 2025, up from 3.51% in the prior quarter, driven by higher loan yields and a decrease in the cost of interest-bearing deposits to 1.89%.
- Total deposits increased by $73 million in Q3 2025, while total loan balances remained relatively flat, decreasing by $5.7 million. The company anticipates loan balances to remain flat in Q4 2025 before resuming mid to high single-digit growth in 2026.
- Credit quality remains strong, with net charge-offs at $118,000 for Q3 2025 and $911,000 year-to-date, representing 0.03% of total loans on an annualized basis. Non-performing loans increased modestly to 0.44% of total loans, primarily due to two construction loans with no expected loss.
- The pending merger with Olympic Bank Corp is progressing as planned, with an estimated closing date at the beginning of Q1.
Oct 23, 2025, 5:00 PM
Heritage Financial Announces Acquisition of Olympic Bancorp
HFWA
M&A
- Heritage Financial has announced an agreement to acquire Olympic Bancorp, the holding company of Kitsap Bank, which has $1.7 billion in total assets, in an all-stock transaction.
- The implied deal value is approximately $176.6 million, based on Heritage's stock price as of September 24, and Olympic shareholders will receive 0.45 shares of Heritage common stock for each Olympic share.
- The merger is projected to deliver an 18% EPS pickup in 2027 and tangible book value dilution of under 10% at closing, with an earn-back period of approximately three years.
- Heritage targets 35% cost savings, with 45% expected in 2026 and 100% in 2027 and beyond, and expects to extend its geographic footprint, leveraging Kitsap's 1.09% cost of total deposits.
- Heritage is putting share buybacks on hold to conserve capital for the deal, which is expected to close in Q1 2026.
Sep 26, 2025, 5:00 PM
Heritage Financial Corporation to Acquire Olympic Bancorp
HFWA
M&A
New Projects/Investments
- Heritage Financial Corporation (HFWA) announced its acquisition of Olympic Bancorp, Inc., the holding company for Kitsap Bank, in an all-stock transaction.
- The deal is valued at $176.6 million in aggregate consideration for Olympic, based on HFWA's stock price as of September 24, 2025.
- The merger is projected to be 18% accretive to EPS in 2027 and have a 3-year TBV earnback.
- Kitsap Bank contributes $1.7 billion in total assets and $1.4 billion in total deposits with a 1.09% cost of deposits as of June 30, 2025.
- This strategic expansion positions HFWA as a leading community bank in the Puget Sound region, increasing its pro forma assets to $9 billion, with an anticipated closing in Q1 2026.
Sep 26, 2025, 5:00 PM
Heritage Financial Corporation to Acquire Olympic Bancorp, Inc.
HFWA
M&A
- Heritage Financial Corporation (HFWA) announced the acquisition of Olympic Bancorp, Inc., the holding company for Kitsap Bank, in an all-stock transaction.
- As of June 30, 2025, Kitsap Bank reported $1.7 billion in total assets, $941.6 million in total loans, and $1.4 billion in total deposits.
- The implied total deal value is approximately $176.6 million, based on HFWA's closing stock price of $24.64 on September 24, 2025.
- The merger is expected to close in the first quarter of 2026 and is anticipated to generate 18% earnings per share accretion upon full realization of operating efficiencies.
Sep 25, 2025, 11:30 PM
Heritage Financial Corporation to Acquire Olympic Bancorp, Inc.
HFWA
M&A
New Projects/Investments
- Heritage Financial Corporation will acquire Olympic Bancorp, Inc., the holding company for Kitsap Bank, in an all-stock transaction with an implied total deal value of approximately $176.6 million based on Heritage's closing stock price on September 24, 2025.
- The acquisition is expected to result in approximately 18% earnings per share accretion for Heritage following the full realization of operating efficiencies, and is anticipated to enhance Heritage's pro forma financial metrics, including profitability and efficiency ratios.
- Following the transaction, the combined company is projected to have total assets of approximately $8.8 billion, total loans of approximately $5.7 billion, and total deposits of approximately $7.2 billion.
- The merger is subject to regulatory and shareholder approvals and is expected to close in the first quarter of 2026.
Sep 25, 2025, 11:00 PM
Quarterly earnings call transcripts for HERITAGE FINANCIAL CORP /WA/.
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