Heritage Financial Corporation Appoints Karen R. Saunders to its Board of Directors

Rhea-AI Summary

Heritage Financial (NASDAQ: HFWA) has appointed Karen R. Saunders to its Board of Directors and the Board of Heritage Bank, effective January 1, 2025. Saunders brings extensive financial services expertise as a former KPMG audit partner, where she served from 1986 to 2024. During her KPMG tenure, she led the Pacific Northwest Region's community banking practice and served as lead banking partner in Los Angeles. She holds a Bachelor's degree from the University of Washington's Foster School of Business and is a CPA licensed in Washington and California.

Positive

• Addition of experienced financial services executive with extensive audit expertise
• Appointment of former KPMG partner with specialized banking sector knowledge
• Strategic enhancement of board expertise in SEC compliance and financial services

Negative

• None.

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OLYMPIA, Wash., Dec. 19, 2024 /PRNewswire/ -- Heritage Financial Corporation ("Heritage") (Nasdaq: HFWA) is pleased to announce the appointment of Karen R. Saunders to its Board of Directors. Ms. Saunders was also appointed to the Board of Directors of Heritage's wholly-owned subsidiary, Heritage Bank. The appointment is effective January 1, 2025.

"We are pleased to welcome Karen to our board of directors," said Brian L. Vance, Board Chair. "Karen brings the depth of audit, finance, and financial services experience we were searching for along with extensive executive leadership experience. Karen's background as a former KPMG audit partner within the financial services practice will add valuable expertise to our board."

Ms. Saunders spent her entire career at KPMG, joining in 1986, promoted to partner in 1999 in the Seattle office, and served as a SEC Reviewing Partner for the firm's financial services practice. During her tenure with KPMG, she also led the Pacific Northwest Region as the lead partner in community banking, served as the lead banking partner over the firm's banking practice in the Los Angeles office from 2015 until her retirement in 2024, and regularly participated in local industry events.

Ms. Saunders earned a Bachelor of Arts from the University of Washington's Foster School of Business and is a licensed Certified Public Accountant in Washington and California. Ms. Saunders resides in Grapeview, Washington and currently serves as an Ambassador Board Member for Big Brothers and Big Sisters of Puget Sound ("BBBS"). She formerly served as the chair of BBBS, chair and board member of the Washington State Accountancy Board, the KPMG Partnership Audit Committee and Board Nomination Committee, and advisory director of the U.S.A Bobsled and Skeleton. Ms. Saunders was also named the 2015 Woman of the Year by the Leukemia and Lymphoma Society, Washington Chapter.

About Heritage
Heritage Financial Corporation is an Olympia-based bank holding company with Heritage Bank, a full-service commercial bank, as its sole wholly-owned banking subsidiary. Heritage Bank has a branching network of 50 banking offices in Washington and Oregon. Heritage Bank also does business under the Whidbey Island Bank name on Whidbey Island. Heritage's stock is traded on the NASDAQ Global Select Market under the symbol "HFWA." More information about Heritage Financial Corporation can be found on its website at www.hf-wa.com and more information about Heritage Bank can be found on its website at www.heritagebanknw.com.

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SOURCE Heritage Financial Corporation

FAQ

When will Karen Saunders join Heritage Financial 's (HFWA) board?

Karen Saunders will join Heritage Financial 's board effective January 1, 2025.

What is Karen Saunders' background before joining HFWA's board?

Saunders was a KPMG partner from 1999-2024, leading the Pacific Northwest Region's community banking practice and serving as lead banking partner in Los Angeles.

What expertise does Karen Saunders bring to Heritage Financial's (HFWA) board?

Saunders brings extensive audit, finance, and financial services experience as a former KPMG SEC Reviewing Partner, with specific expertise in community banking.

How many banking offices does Heritage Financial (HFWA) operate?

Heritage Financial operates 50 banking offices across Washington and Oregon, including operations under the Whidbey Island Bank name.