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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 10 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)
FY 2020
(Dec 31, 2020)
FY 2019
(Dec 31, 2019)
FY 2018
(Dec 31, 2018)
FY 2017
(Dec 31, 2017)
FY 2016
(Dec 31, 2016)
Interest Income $314.24M $314.24M $309.71M $284.46M $227.46M $212.83M $214.32M $217.85M $199.36M $147.88M $138.51M
Interest Expense $89.83M $89.83M $100.35M $59.31M $8.07M $7.04M $13.32M $18.17M $12.41M $8.35M $6.01M
Net Interest Income $224.41M $224.41M $209.36M $225.16M $219.38M $205.79M $201.00M $199.68M $186.95M $139.53M $132.51M
Provision for Credit Losses $3.03M $1.97M $6.28M $4.28M $-1.43M $-29.37M $36.11M $4.31M $5.13M - -
Net Interest Income After Provision $222.44M $222.44M $203.08M $220.88M $220.81M $235.16M $164.89M $195.37M $181.82M $135.31M $127.58M
Non-Interest Income $21.73M $21.73M $7.47M $18.66M $29.59M $34.62M $37.23M $32.46M $31.66M $35.41M $31.62M
Other Non-Interest Income $7.84M $7.84M $6.22M $8.08M $5.32M $5.76M $8.43M $9.76M $9.29M $8.66M $7.10M
Non-Interest Expense $165.57M $165.57M $158.30M $166.62M $150.97M $149.27M $148.94M $146.79M $149.40M $110.58M $106.47M
Compensation & Benefits $104.02M $104.02M $98.53M $100.08M $92.09M $89.88M $88.11M $87.57M $86.83M $64.27M $61.41M
Occupancy Expense $18.88M $18.88M $19.29M $19.16M $17.46M $17.24M $22.66M $21.69M $19.78M $15.40M $15.76M
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 $5.92M $5.19M $9.67M $4.78M $3.61M
Other Non-Interest Expense $12.87M $12.87M $12.29M $13.35M $12.07M $9.41M $10.83M $11.05M $11.38M $9.90M $9.57M
Income Before Tax $78.60M $78.60M $52.26M $72.92M $99.44M $120.51M $53.18M $81.05M - - -
Income Tax Expense $11.07M $11.07M $9.00M $11.16M $17.56M $22.47M $6.61M $13.49M $11.03M $18.36M $13.80M
Net Income $67.53M $67.53M $43.26M $61.76M $81.88M $98.03M $46.57M $67.56M $53.06M $41.79M $38.92M
Basic EPS nan 1.99 1.26 1.76 2.33 2.75 1.29 1.84 1.49 1.39 1.30
Diluted EPS nan 1.96 1.24 1.75 2.31 2.73 1.29 1.83 1.49 1.39 1.30
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)
FY 2020
(Dec 31, 2020)
FY 2019
(Dec 31, 2019)
FY 2018
(Dec 31, 2018)
FY 2017
(Dec 31, 2017)
FY 2016
(Dec 31, 2016)
Cash & Due from Banks $52.59M $58.82M $55.85M $74.30M $61.38M $91.92M $95.04M $92.70M $78.29M $77.12M
Interest-Bearing Deposits $180.50M $58.28M $169.12M $29.30M $1.66B $651.40M $133.53M $69.21M $24.72M $26.63M
Investment Securities - AFS $607.52M $764.39M $1.13B $1.33B $894.34M $802.16M - - - -
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 $70.19M $36.17M $35.04M - -
Loans & Leases (Net) $4.73B $4.75B $4.29B $4.01B - $4.40B $3.73B $3.62B $2.82B $2.61B
Goodwill & Intangibles $240.94M $240.94M $240.94M $240.94M $240.94M $240.94M $240.94M $240.94M $119.03M $119.03M
Premises & Equipment $74.69M $71.58M $74.90M $76.93M $79.37M $85.45M $87.89M $81.10M $60.33M $63.91M
Total Assets $6.97B $7.11B $7.17B $6.98B $7.43B $6.62B $5.55B $5.32B $4.11B $3.88B
Total Deposits $5.92B $5.68B $5.60B $5.92B $6.38B $5.60B $4.58B $4.43B $3.39B $3.23B
Other Liabilities - - - $189.30M $124.62M $140.32M $120.22M $72.01M $67.58M $46.15M
Total Liabilities $6.05B $6.24B $6.32B $6.18B $6.58B $5.79B $4.74B $4.56B $3.60B $3.40B
Common Stock $531.10M $531.67M $549.75M $552.40M $551.80M $571.02M $586.46M $591.81M $360.59M $359.06M
Retained Earnings $421.62M $387.10M $375.99M $345.35M $293.24M $224.40M $212.47M $176.37M $149.01M $125.31M
AOCI $-31.21M $-55.24M $-72.48M $-99.85M $9.40M $25.02M $10.38M $-7.46M $-1.30M $-2.61M
Total Stockholders Equity $921.50M $863.53M $853.26M $797.89M $854.43M $820.44M $809.31M $760.72M $508.31M $481.76M
Total Liabilities & Equity $6.97B $7.11B $7.17B $6.98B $7.43B $6.62B $5.55B $5.32B $4.11B $3.88B
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)
FY 2020
(Dec 31, 2020)
FY 2019
(Dec 31, 2019)
FY 2018
(Dec 31, 2018)
FY 2017
(Dec 31, 2017)
FY 2016
(Dec 31, 2016)
Net Income $81.44M $67.53M $43.26M $61.76M $81.88M $98.03M $46.57M $67.56M $53.06M $41.79M $38.92M
Provision for Credit Losses $3.03M $1.97M $6.28M $4.28M $-1.43M $-29.37M $36.11M $4.31M $5.13M - -
Deferred Taxes $-16.28M $-17.94M $-15.29M $-13.20M $871.00K - - - - - -
Stock-based Compensation - - - - - - - - - - -
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 $70.33M $87.61M $82.45M $73.51M $53.98M
Purchases of Securities $201.06M $88.17M $33.13M $178.40M $790.87M $616.12M $152.62M $242.78M - - -
Sales of Securities $340.33M $141.68M $273.63M $219.70M $30.39M $1.25M $55.03M $43.96M - - -
Maturities of Securities $221.11M $125.31M $130.49M $178.85M $181.49M $254.67M $264.22M $242.35M $92.56M $98.89M $129.41M
Net Change in Loans $-87.84M $-21.60M $464.58M $280.66M $225.15M $-699.11M $692.72M $121.27M $98.56M $235.15M $242.31M
Capital Expenditures $13.10M $9.16M $3.46M $10.38M $4.02M $3.02M $7.00M $13.04M $23.27M $3.06M $6.72M
Investing Cash Flow $402.96M $186.75M $-85.90M $-93.45M $-1.21B $163.76M $-538.55M $-120.43M $-101.63M $-241.39M $-252.93M
Net Change in Deposits $496.11M $235.59M $84.74M $-310.30M $-469.45M $783.35M $1.02B $150.27M $214.74M $163.41M $121.36M
Common Stock Repurchased $11.80M $5.52M $22.42M $6.97M $3.20M $22.89M $19.12M $8.64M $1.70M $737.00K $2.89M
Dividends Paid $57.16M $32.65M $31.78M $30.82M $29.49M $28.94M $28.86M $30.91M $25.79M $18.30M $21.57M
Financing Cash Flow $-174.25M $-165.58M $-86.45M $105.31M $-506.38M $746.68M $982.97M $99.47M $78.08M $167.15M $176.05M
Net Change in Cash $384.55M $115.99M $-107.87M $121.38M $-1.62B $979.97M $514.75M $66.66M $58.90M - -
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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