Welcome to our dedicated page for Heritage Finl Wash news (Ticker: HFWA), a resource for investors and traders seeking the latest updates and insights on Heritage Finl Wash stock.
Heritage Financial Corporation (NASDAQ: HFWA) provides comprehensive banking services across Washington, Oregon, and Idaho through its Heritage Bank subsidiary. This news hub offers investors and stakeholders centralized access to official announcements, including earnings reports, regulatory updates, and strategic initiatives.
Our curated collection features press releases detailing HFWA's commercial lending activities, balance sheet optimization strategies, and community banking developments. Users will find updates on deposit services, real estate construction loans, and risk management practices that define this regional financial institution.
Key content categories include quarterly financial results, leadership changes, operational expansions, and regulatory compliance updates. The archive serves as an essential resource for tracking HFWA's market position in Pacific Northwest banking and its responses to interest rate fluctuations.
Bookmark this page for direct access to Heritage Financial's verified communications. Check regularly for updates on loan portfolio growth, investment repositioning strategies, and other developments impacting the company's performance in community-focused commercial banking.
Heritage Financial (Nasdaq GS: HFWA) reported net income of $14.2 million for Q2 2024, up from $5.7 million in Q1 2024. Diluted earnings per share (EPS) were $0.41, a significant rise from $0.16 in Q1 2024. The quarter included a loss on sale of securities of $1.9 million, impacting EPS by $0.04. Loans receivable rose by $104.5 million or 2.4% during the quarter. The net interest margin (NIM) fell slightly to 3.29% from 3.32% in Q1 2024. The cost of total deposits increased to 1.34% from 1.19% in the previous quarter. The efficiency ratio improved to 69.4% from 83.0% in Q1 2024. The company declared a regular cash dividend of $0.23 per share. A CEO succession plan was announced, with Bryan McDonald taking over as CEO of Heritage Bank from July 1, 2024.
Heritage Financial (Nasdaq: HFWA) will release its second-quarter earnings on Thursday, July 25, 2024, before the market opens. A conference call to discuss the earnings is scheduled for the same day at 10:00 a.m. Pacific time (1:00 p.m. Eastern time). Investors can access the call at (833) 470-1428 using access code 281184. A replay will be available until August 1, 2024, at (866) 813-9403, access code 638306. For further details, contact Kaylene Lahn at 360-943-1500. Heritage Financial, based in Olympia, Washington, operates 50 banking offices in Washington, Oregon, and Idaho under Heritage Bank and Whidbey Island Bank.
Heritage Financial (Nasdaq GS: HFWA) announced a CEO succession plan. Current CEO Jeff Deuel will retire in May 2025, transitioning to an advisory role. Bryan McDonald, currently President and COO of Heritage Bank, will assume the roles of President and CEO for both Heritage Bank and Heritage Financial effective July 1, 2024. Deuel will assist with the transition to ensure continuity. McDonald brings over 30 years of banking experience, holding significant roles within the industry. The transition aims to maintain stability and continued growth for the company.
Heritage Financial operates 50 branches across Washington, Oregon, and Idaho, serving the Pacific Northwest. The company's stock trades on NASDAQ under 'HFWA'.
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