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.
Heritage Financial Corporation (NASDAQ GS: HFWA) reported a net income of $23.9 million for Q4 2020, up from $16.6 million in Q3 2020 and $17.1 million YoY. Diluted EPS increased to $0.66 from $0.46 in the prior quarter. The bank funded 4,642 SBA PPP loans totaling $897.4 million. The company highlighted its role in supporting housing development through the Heartwood Apartments project, aiming for a Green 4-star certification. As of Dec 31, 2020, total assets stood at $6.615 billion, and total deposits were $5.598 billion.
Heritage Financial Corporation (NASDAQ: HFWA) will release its fourth quarter and year-end earnings on January 28, 2021, before market opening. A conference call is scheduled for the same day at 11:00 a.m. Pacific time (2:00 p.m. Eastern time) to discuss the earnings results. Access details for the live call and its replay options have been provided. Heritage operates as a bank holding company for Heritage Bank, with a network of 61 locations in Washington and Oregon. For more information, visit www.hf-wa.com.
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.