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HERITAGE FINANCIAL CORP /WA/

CIK: 1046025 SIC: 6036
$225.16M
Net Interest Income
$61.76M
Net Income
68.3%
Efficiency Ratio
3.17%
Net Int. Margin
7.7%
ROE
Financial Statements Annual (10-K)
Showing 5 of 15 annual reports available (2011 - 2025)
Breakdown TTM
(Dec 31, 2025)
FY 2025
(Dec 31, 2025)
FY 2024
(Dec 31, 2024)
FY 2023
(Dec 31, 2023)
FY 2022
(Dec 31, 2022)
FY 2021
(Dec 31, 2021)
Interest Income $314.24M $314.24M $309.71M $284.46M $227.46M $212.83M
Interest Expense $89.83M $89.83M $100.35M $59.31M $8.07M $7.04M
Net Interest Income $224.41M $224.41M $209.36M $225.16M $219.38M $205.79M
Provision for Credit Losses $3.03M $1.97M $6.28M $4.28M $-1.43M $-29.37M
Net Interest Income After Provision $222.44M $222.44M $203.08M $220.88M $220.81M $235.16M
Non-Interest Income $21.73M $21.73M $7.47M $18.66M $29.59M $34.62M
Other Non-Interest Income $7.84M $7.84M $6.22M $8.08M $5.32M $5.76M
Non-Interest Expense $165.57M $165.57M $158.30M $166.62M $150.97M $149.27M
Compensation & Benefits $104.02M $104.02M $98.53M $100.08M $92.09M $89.88M
Occupancy Expense $18.88M $18.88M $19.29M $19.16M $17.46M $17.24M
Technology & Equipment $15.00M $15.00M $14.90M $18.07M $16.80M $16.53M
Professional Fees $4.26M $4.26M $2.52M $4.23M $2.50M $4.07M
Other Non-Interest Expense $12.87M $12.87M $12.29M $13.35M $12.07M $9.41M
Income Before Tax $78.60M $78.60M $52.26M $72.92M $99.44M $120.51M
Income Tax Expense $11.07M $11.07M $9.00M $11.16M $17.56M $22.47M
Net Income $67.53M $67.53M $43.26M $61.76M $81.88M $98.03M
Basic EPS nan 1.99 1.26 1.76 2.33 2.75
Diluted EPS nan 1.96 1.24 1.75 2.31 2.73
Breakdown FY 2025
(Dec 31, 2025)
FY 2024
(Dec 31, 2024)
FY 2023
(Dec 31, 2023)
FY 2022
(Dec 31, 2022)
FY 2021
(Dec 31, 2021)
Cash & Due from Banks $52.59M $58.82M $55.85M $74.30M $61.38M
Interest-Bearing Deposits $180.50M $58.28M $169.12M $29.30M $1.66B
Investment Securities - AFS $607.52M $764.39M $1.13B $1.33B $894.34M
Investment Securities - HTM $674.11M $703.28M $739.44M $766.40M -
Loans & Leases (Gross) $4.78B $4.80B $4.34B $4.05B -
Allowance for Loan Losses - - - $42.99M $42.36M
Loans & Leases (Net) $4.73B $4.75B $4.29B $4.01B -
Goodwill & Intangibles $240.94M $240.94M $240.94M $240.94M $240.94M
Premises & Equipment $74.69M $71.58M $74.90M $76.93M $79.37M
Total Assets $6.97B $7.11B $7.17B $6.98B $7.43B
Total Deposits $5.92B $5.68B $5.60B $5.92B $6.38B
Other Liabilities - - - $189.30M $124.62M
Total Liabilities $6.05B $6.24B $6.32B $6.18B $6.58B
Common Stock $531.10M $531.67M $549.75M $552.40M $551.80M
Retained Earnings $421.62M $387.10M $375.99M $345.35M $293.24M
AOCI $-31.21M $-55.24M $-72.48M $-99.85M $9.40M
Total Stockholders Equity $921.50M $863.53M $853.26M $797.89M $854.43M
Total Liabilities & Equity $6.97B $7.11B $7.17B $6.98B $7.43B
Breakdown TTM
(Dec 31, 2025)
FY 2025
(Dec 31, 2025)
FY 2024
(Dec 31, 2024)
FY 2023
(Dec 31, 2023)
FY 2022
(Dec 31, 2022)
FY 2021
(Dec 31, 2021)
Net Income $81.44M $67.53M $43.26M $61.76M $81.88M $98.03M
Provision for Credit Losses $3.03M $1.97M $6.28M $4.28M $-1.43M $-29.37M
Deferred Taxes $-16.28M $-17.94M $-15.29M $-13.20M $871.00K -
Net Change in Loans HFS - - $1.32M $14.83M $15.19M $86.44M
Operating Cash Flow $155.84M $94.82M $64.48M $109.52M $94.46M $69.53M
Purchases of Securities $201.06M $88.17M $33.13M $178.40M $790.87M $616.12M
Sales of Securities $340.33M $141.68M $273.63M $219.70M $30.39M $1.25M
Maturities of Securities $221.11M $125.31M $130.49M $178.85M $181.49M $254.67M
Net Change in Loans $-87.84M $-21.60M $464.58M $280.66M $225.15M $-699.11M
Capital Expenditures $13.10M $9.16M $3.46M $10.38M $4.02M $3.02M
Investing Cash Flow $402.96M $186.75M $-85.90M $-93.45M $-1.21B $163.76M
Net Change in Deposits $496.11M $235.59M $84.74M $-310.30M $-469.45M $783.35M
Common Stock Repurchased $11.80M $5.52M $22.42M $6.97M $3.20M $22.89M
Dividends Paid $57.16M $32.65M $31.78M $30.82M $29.49M $28.94M
Financing Cash Flow $-174.25M $-165.58M $-86.45M $105.31M $-506.38M $746.68M
Net Change in Cash $384.55M $115.99M $-107.87M $121.38M $-1.62B $979.97M
SEC Filing Format - Data shown as it appears in the Q3 2025 (10-Q) filing Period ended: Sep 30, 2025
Condensed Consolidated Statements of Operations
Description Sep 30, 2025 Sep 30, 2025
Current Prior Year Current YTD Prior Year YTD
Interest Expense $22.14M $26.86M $69.72M $84.05M
Income Before Tax $22.31M $13.07M $52.92M $35.93M
Income Tax Expense $3.14M $1.64M $7.63M $4.60M
Net Income $19.17M $11.42M $45.30M $31.33M
Basic EPS 0.56 0.33 1.33 0.91
Diluted EPS 0.55 0.33 1.31 0.90
Basic Shares Outstanding $33.95M $34.32M $34.01M $34.58M
Diluted Shares Outstanding $34.41M $34.66M $34.48M $35.00M
Condensed Consolidated Balance Sheets
Description Sep 30, 2025 Dec 31, 2024
Cash & Cash Equivalents $245.49M $117.10M
Property Plant & Equipment $70.38M $71.58M
Goodwill $240.94M $240.94M
Intangible Assets $2.26M $3.15M
Total Assets $7.01B $7.11B
Total Liabilities $6.11B $6.24B
Common Stock $529.95M $531.67M
Retained Earnings $407.56M $387.10M
Total Stockholders Equity $904.06M $863.53M
Total Liabilities & Equity $7.01B $7.11B
Condensed Consolidated Statements of Cash Flows
Description Sep 30, 2025 Sep 30, 2025
Current Prior Year Current YTD Prior Year YTD
Net Income $19.17M $11.42M $45.30M $31.33M
Deferred Income Tax - - $913.00K $899.00K
Operating Cash Flow - - $66.83M $43.86M
Capital Expenditure - - $3.45M $2.66M
Sales of Investments - - $94.98M $92.15M
Investing Cash Flow - - $163.68M $-41.91M
Stock Repurchased - - $5.47M $18.05M
Dividends Paid - - $24.50M $23.92M
Financing Cash Flow - - $-102.12M $-51.35M
Net Change in Cash - - $128.39M $-49.40M

All values are in USD (United States Dollars). Data is sourced from SEC EDGAR 10-K filings.

Annual data represents full fiscal year results. FY = Fiscal Year ending.

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