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) is the bank holding company for Heritage Bank, a full-service commercial bank with a network of branches in Washington, Oregon, and Idaho. This news page aggregates company press releases and third-party coverage so readers can follow developments affecting Heritage Financial and Heritage Bank over time.
Heritage Financial regularly issues quarterly earnings announcements, detailing net income, net interest margin, loan and deposit trends, investment securities activity, and credit quality metrics. These releases are often accompanied by conference calls and investor presentations, which are referenced in both news items and related Form 8-K filings. Investors and analysts can use this news flow to track changes in the company’s balance sheet composition, funding mix, and capital ratios.
In addition to earnings, Heritage Financial’s news includes dividend declarations on its common stock, providing information on regular quarterly cash dividends and related record and payment dates. Corporate governance updates, such as appointments to the Board of Directors, are also announced through press releases, offering insight into leadership and oversight at both the holding company and bank levels.
Strategic activity is another key news theme. Heritage Financial has announced an Agreement and Plan of Merger with Olympic Bancorp, Inc., the holding company for Kitsap Bank, and has provided public commentary on the expected combination of their franchises, subject to regulatory and shareholder approvals. News items describe how this transaction is intended to extend Heritage Bank’s footprint and create a larger banking platform across parts of Washington, including the Puget Sound region.
By reviewing the HFWA news feed on this page, readers can follow Heritage Financial’s financial performance, capital actions, strategic transactions, and other corporate developments in one place and return as new releases and updates are published.
Heritage Financial Corporation (NASDAQ: HFWA) appointed Fred Rivera to its Board of Directors, effective December 17, 2020. Rivera, an experienced executive, currently serves as Executive Vice President and General Counsel for the Seattle Mariners, with past roles at Perkins Coie LLP, Fannie Mae, and the U.S. Department of Justice. His legal and financial services experience, along with community leadership in the Puget Sound region, is expected to enhance the board's effectiveness. Heritage Financial operates a full-service commercial bank, Heritage Bank, with a network of 61 branches in Washington and Oregon.
Heritage Financial Corporation (NASDAQ: HFWA) reported a net income of $16.6 million for Q3 2020, a significant rebound from a net loss of $6.1 million in the previous quarter. Diluted earnings per share increased to $0.46, compared to a loss of $0.17 in Q2 2020. Total assets rose to $6.69 billion, with total deposits increasing by $121.3 million to $5.69 billion. The company has actively participated in the SBA Paycheck Protection Program, funding over $897 million in loans. However, nonperforming assets increased to 0.79% of total assets, signaling potential credit quality concerns amid the ongoing pandemic.
Heritage Financial Corporation (Nasdaq: HFWA) will release its third quarter earnings on October 22, 2020, before market opening. A conference call to discuss these earnings is scheduled for the same day at 11:00 a.m. Pacific time (2:00 p.m. Eastern time). Investors can participate by calling (844) 721-7241 with access code 348422. A replay of the call will be available shortly after it concludes and can be accessed until November 5, 2020.
Heritage Financial Corporation (HFWA) reported a net loss of $6.1 million for Q2 2020, down from net income of $12.2 million in Q1 2020 and $16 million in Q2 2019. The losses per share were $0.17 compared to earnings of $0.33 and $0.43 in the previous respective quarters. A provision for credit losses of $28.6 million was attributed to economic impacts from the COVID-19 pandemic. Despite challenges, the Bank funded 4,498 SBA PPP loans totaling $883.9 million. Total deposits rose 20.6% to $5.57 billion. The Company maintained strong capital ratios, categorizing itself as well-capitalized.
Heritage Financial Corporation (HFWA) will release its second quarter earnings on July 23, 2020, before market opening. A conference call to discuss these earnings is scheduled for the same day at 11:00 a.m. Pacific time. Investors and analysts can participate by calling (877) 692-8957 with access code 4585155. The call will be recorded and available for replay until August 6, 2020. Heritage Financial, based in Olympia, operates Heritage Bank with 62 locations in Washington and Oregon.