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 reports recurring developments as a bank holding company for Heritage Bank, a full-service commercial bank operating in Washington, Oregon, and Idaho. Company news centers on quarterly and annual earnings, net interest margin, loan yields, deposit costs, credit and balance-sheet trends, and regular cash dividends on HFWA common stock.
Heritage updates also cover corporate actions tied to its regional banking franchise, including completed bank acquisitions, branch-name activity such as Whidbey Island Bank and Kitsap Bank, board and governance changes, shareholder matters, and material events affecting bank operations and disclosure.
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Heritage Financial Corporation (NASDAQ: HFWA) reported a net income of $20.5 million, or $0.58 per diluted share, for Q1 2023, down from $22.5 million in Q4 2022. Total loans receivable increased by $76.6 million (1.9%), while total deposits decreased by 2.3% to $5.79 billion. Capital ratios remain robust, with a leverage ratio of 9.9% and a total capital ratio of 14.1%. The company declared a cash dividend of $0.22 per share, payable on May 18, 2023. Despite the decrease in net interest margin to 3.91%, it was up from 2.84% year over year. Nonperforming assets improved to 0.07% of total assets, a significant reduction from 0.22% a year earlier.
Heritage Financial Corporation (NASDAQ: HFWA) is set to release its first quarter earnings on April 20, 2023. The earnings report will be available before the market opens, followed by a conference call scheduled for 10:00 a.m. Pacific time on the same day. Investors can dial (833) 470-1428 to participate, using access code 343702. A replay of the call will be accessible until April 27, 2023, by calling (866) 813-9403 with access code 862416. Heritage Financial Corporation, based in Olympia, operates Heritage Bank, which serves Washington, Oregon, and Idaho with 51 branches.
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.