Heritage Financial Corp (OQ:HFWA)

Sector:  Financials Industry:  Banks
 
See Regulatory Filings on SEC
Company Contact
Address: 201 Fifth Avenue S.W.,
P O Box 1578
OLYMPIA WA 98501
Tel: N/A
Website: https://www.hf-wa.com
IR: See website
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Key People
Brian L. Vance
Chairman of the Board
Jeffrey J. Deuel
President, Chief Executive Officer, Director
Donald J. Hinson
Executive Vice President and Chief Financial Officer of Heritage Financial Corporation and Heritage Bank
Tony W. Chalfant
Executive Vice President and Chief Credit Officer of Heritage Financial Corporation and Heritage Bank
Bryan D. McDonald
Executive Vice President of Heritage Financial Corporation and President and Chief Operating Officer of Heritage Bank
 
Business Overview
Heritage Financial Corporation is a bank holding company. The Company is primarily engaged in the business of planning, directing, and coordinating the business activities of its wholly owned subsidiary, Heritage Bank (the Bank). Its business consists primarily commercial lending and deposit relationships with small and medium-sized businesses and their owners in its market areas and attracting deposits from the general public. It also makes real estate construction and land development loans, consumer loans and residential real estate loans for sale or investment purposes on residential properties located primarily in its market. It offers a full range of products and services to customers for personal and business banking needs designed to attract both short-term and long-term deposits. It also offers investment advice through a wealth management department that provides objective advice from trusted advisers. The Bank conducts business from its approximately 50 branch offices.
Financial Overview
For the fiscal year ended 31 December 2023, Heritage Financial Corp interest income increased 25% to $284.5M. Net interest income after loan loss provision increased 2% to $225.6M. Net income decreased 25% to $61.8M. Net interest income after loan loss provision reflects interest income on financial instruments segment increase from $0K to $220.9M, Net Interest Margin, Total - % increase of 7% to 3.58%.
Employees: 764 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $630.25M as of Dec 31, 2023
Annual revenue (TTM): $284.47M as of Dec 31, 2023
EBITDA (TTM): $100.05M as of Dec 31, 2023
Net annual income (TTM): $61.76M as of Dec 31, 2023
Free cash flow (TTM): $68.33M as of Dec 31, 2023
Net Debt Last Fiscal Year: N/A
Shares outstanding: 34,655,226 as of Mar 11, 2024
Index Membership: S&P 600 Small Cap
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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