Welcome to our dedicated page for Heritage Financial news (Ticker: HFWA), a resource for investors and traders seeking the latest updates and insights on Heritage Financial stock.
Heritage Financial Corp (NASDAQ: HFWA), based in Olympia, Washington, is a prominent bank holding company. Through its wholly-owned subsidiary, Heritage Bank, the company provides a comprehensive suite of financial solutions including commercial lending, deposit services, real estate construction loans, consumer loans, and first mortgage loans primarily in Washington, Oregon, and Idaho.
Heritage Bank, operating under the Whidbey Island Bank name in certain locations, has a robust network of 50 banking offices. Their offerings cater to small and medium-sized businesses, as well as the general public, with products such as noninterest demand accounts, money market accounts, savings accounts, and certificates of deposit. The company's focus on prudent risk management and strategic growth is evident in its recent financial performance and development projects.
In recent quarters, Heritage Financial has reported steady earnings, maintaining a strong balance sheet with ample liquidity. They remain committed to sustaining long-term shareholder returns through a combination of strong core deposits and active loan production. Executive efforts are also directed at partnering with community organizations to foster social benefits, such as financing affordable housing projects.
The company’s latest financial activities include the strategic repositioning of its balance sheet through the sale and purchase of investment securities, aimed at enhancing interest income. Heritage Financial’s capital ratios are well above regulatory requirements, ensuring a stable financial outlook.
Recent news highlights include the announcement of quarterly earnings and upcoming conference calls to discuss financial results, reflecting their transparency and commitment to stakeholder communication. The company continues to adapt to changing market conditions while upholding its mission to provide exceptional banking services.
Heritage Financial Corporation (NASDAQ: HFWA) reported a net income of $22.5 million, or $0.64 per diluted share for Q4 2022, up from $21.0 million in Q3 2022. Annual net income for 2022 totaled $81.9 million, down from $98.0 million in 2021. Loans receivable increased by $49.6 million in Q4 and $235.2 million for the year, excluding PPP repayments. Net interest income rose by 6.4% to $63.1 million in Q4. The company declared a regular cash dividend of $0.22 per share on January 25, 2023, marking a 4.8% increase from the prior dividend.
Heritage Bank, a subsidiary of Heritage Financial Corporation (Nasdaq: HFWA), has announced its expansion into Boise, Idaho as of January 10, 2023. The bank has established a temporary branch and aims to find a permanent location in the future. The new team includes experienced professionals like Mike Trueba, who has over 20 years of banking experience. Heritage Bank plans to grow organically and potentially through acquisitions, aiming to align with the values of Idaho's community.
Heritage Financial Corporation, trading under the symbol HFWA, will release its fourth quarter and year-end earnings on January 26, 2023, before the market opens. A conference call is scheduled for the same day at 10:00 AM PT to discuss these earnings. Investors can access the call live or through a replay until February 2, 2023. Heritage Financial operates Heritage Bank, which has 50 branches in Washington and Oregon.
Heritage Bank, a subsidiary of Heritage Financial Corporation (Nasdaq: HFWA), has announced new executive appointments effective January 1, 2023. Matt Ray joins as Chief Lending Officer, Amy Curran as Director of Commercial Banking, and Kelli Wilson as Chief Banking Officer, while Sabrina Robison continues as Chief Human Resources Officer. These appointments come as the bank prepares for the retirement of Cindy Hirman in April 2023. CEO Jeff Deuel emphasized these changes as strategic moves to enhance leadership and foster growth.
Heritage Financial Corporation (Nasdaq: HFWA) has appointed Eric K. Chan to its Board of Directors, effective January 1, 2023. Mr. Chan, the Chief Financial Officer of the Los Angeles Clippers since 2018, brings extensive financial and operational expertise to the board. His previous roles include CFO positions at The Bouqs Company and Loot Crate, along with senior executive positions at Mattel and Cisco Systems. Board Chair Brian L. Vance highlighted Chan's business acumen as a valuable addition for the company.
Heritage Financial Corporation (NASDAQ: HFWA) reported a net income of $21.0 million, or $0.59 per diluted share, for Q3 2022, showing an increase from $18.6 million in Q2 2022. Loans receivable grew by $127.2 million (3.3%) and net interest income surged by $9.2 million (18.5%), driven by higher interest rates. The net interest margin improved to 3.57%. A regular cash dividend of $0.21 per share was declared, payable on November 16, 2022. The company maintains a solid balance sheet with a decrease in nonperforming assets to 0.09%.
Heritage Financial Corporation (Nasdaq: HFWA) will release its third quarter earnings on October 20, 2022, before market opening. A conference call to discuss the results is scheduled for 10:00 a.m. Pacific time on the same day. Interested parties can access the call at (844) 200-6205 with access code 481365. A replay will be available until October 27, 2022, at (866) 813-9403 with access code 989637. Heritage operates a network of 50 branches in Washington and Oregon, focusing on full-service banking.
Heritage Financial Corporation (NASDAQ: HFWA) reported a net income of $18.6 million for Q2 2022, down from $19.8 million in Q1 2022 and $32.7 million in Q2 2021. Diluted earnings per share decreased to $0.52 from $0.56 and $0.90 respectively. Loans receivable rose by $52.9 million (1.4%) in Q2 2022. The net interest margin improved to 3.04%, up from 2.84% in Q1 2022. A cash dividend of $0.21 per share was declared on July 20, 2022, payable on August 17, 2022.
Heritage Financial Corporation (HFWA) plans to release its second quarter earnings on July 21, 2022, before the market opens. A conference call to discuss these earnings will occur the same day at 11:00 a.m. PT (2:00 p.m. ET). Interested parties can join the call by dialing (844) 200-6205 and using access code 476131. A replay will be available until July 28, 2022, at (866) 813-9403 with access code 467910. Heritage Financial is based in Olympia and operates Heritage Bank.
Heritage Bank, part of Heritage Financial Corporation (Nasdaq: HFWA), is expanding its commercial and relationship banking teams in Vancouver, WA; Portland; and Eugene, OR. The newly formed teams consist of a regional manager, three team leaders, banking officers, and credit analysts, all aimed at enhancing services for commercial, small business, and nonprofit clients. President Bryan McDonald expressed confidence in the new hires' potential to support the bank's growth and service expansion in key markets. Heritage Bank operates 49 offices in Washington and Oregon.
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