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Heritage Financial (HFWA) Financials

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$26.46 +0.27 (+1.02%)
As of 10:23 AM Eastern
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Annual Income Statements for Heritage Financial

Annual Income Statements for Heritage Financial

This table shows Heritage Financial's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 37 39 42 53 68 47 98 82 62 43 68
Consolidated Net Income / (Loss)		 37 39 42 53 68 47 98 82 62 43 68
Net Income / (Loss) Continuing Operations		 37 39 42 53 68 47 98 82 62 43 68
Total Pre-Tax Income 		51 53 60 64 81 53 121 99 73 52 79
Total Revenue		 162 164 175 219 232 238 240 249 244 217 246
Net Interest Income / (Expense)		 130 133 139 187 200 201 206 219 225 209 224
Total Interest Income		 136 139 148 199 218 214 213 227 284 310 314
Loans and Leases Interest Income		 122 122 129 175 190 192 190 174 217 247 263
Investment Securities Interest Income		 14 16 18 22 26 21 21 44 60 56 46
Deposits and Money Market Investments Interest Income		 - - - - - - 1.61 9.07 6.82 6.62 5.82
Total Interest Expense		 6.12 6.01 8.35 12 18 13 7.04 8.07 59 100 90
Deposits Interest Expense		 5.23 5.01 6.05 10 16 12 6.16 6.77 39 75 79
Short-Term Borrowings Interest Expense		 - - - - - - 0.00 0.01 18 23 8.62
Long-Term Debt Interest Expense		 0.89 1.00 2.30 1.26 1.34 0.89 0.74 1.16 2.07 2.14 1.87
Federal Funds Purchased and Securities Sold Interest Expense		 - - - - - - 0.14 0.14 0.15 0.00 0.00
Total Non-Interest Income		 32 32 36 32 32 37 35 30 19 7.47 22
Other Service Charges		 22 23 9.87 27 27 25 24 25 28 26 28
Net Realized & Unrealized Capital Gains on Investments		 8.40 8.31 7.70 2.90 3.00 7.52 8.08 0.85 -12 -21 -11
Other Non-Interest Income		 1.75 - - 1.75 2.16 4.32 2.52 3.75 2.93 2.97 4.38
Provision for Credit Losses		 4.37 4.93 4.22 5.13 4.31 36 -29 -1.43 4.28 6.28 1.97
Total Non-Interest Expense		 106 106 111 149 147 149 149 151 167 158 166
Salaries and Employee Benefits		 58 61 64 87 88 88 89 92 100 99 104
Net Occupancy & Equipment Expense		 24 23 24 30 31 32 34 33 36 34 34
Marketing Expense		 3.07 2.84 2.94 3.23 3.48 3.10 2.14 1.64 1.93 0.99 1.25
Property & Liability Insurance Claims		 2.05 1.62 1.44 1.48 0.73 1.79 2.11 2.02 3.31 3.26 3.21
Other Operating Expenses		 17 16 17 24 20 20 19 19 23 20 22
Amortization Expense		 2.10 1.42 1.29 3.82 4.00 3.53 3.11 2.75 2.43 1.64 1.17
Income Tax Expense		 14 14 18 11 13 6.61 22 18 11 9.00 11
Basic Earnings per Share		 $1.25 $1.30 $1.39 $1.49 $1.84 $1.29 $2.75 $2.33 $1.76 $1.26 $1.99
Weighted Average Basic Shares Outstanding		 29.79M 29.68M 29.76M 35.19M 36.76M 36.01M 35.68M 35.10M 35.02M 34.47M 34.00M
Diluted Earnings per Share		 $1.25 $1.30 $1.39 $1.49 $1.83 $1.29 $2.73 $2.31 $1.75 $1.24 $1.96
Weighted Average Diluted Shares Outstanding		 29.79M 29.68M 29.76M 35.37M 36.99M 36.17M 35.97M 35.46M 35.26M 34.90M 34.46M
Weighted Average Basic & Diluted Shares Outstanding		 29.79M 29.68M 29.76M 36.88M 36.48M 35.91M 35.11M 35.11M 34.91M 33.99M 41.13M
Cash Dividends to Common per Share		 $0.53 $0.72 $0.61 $0.72 $0.84 $0.80 $0.81 $0.84 $0.88 $0.92 $0.96

Quarterly Income Statements for Heritage Financial

This table shows Heritage Financial's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 18 6.23 5.75 14 11 12 14 12 19 22 19
Consolidated Net Income / (Loss)		 18 6.23 5.75 14 11 12 14 12 19 22 19
Net Income / (Loss) Continuing Operations		 18 6.23 5.75 14 11 12 14 12 19 22 19
Total Pre-Tax Income 		22 6.58 6.87 16 13 16 16 14 22 26 22
Total Revenue		 62 51 49 56 55 57 58 57 66 66 78
Net Interest Income / (Expense)		 56 54 52 51 53 54 54 55 57 58 69
Total Interest Income		 73 74 74 77 80 79 77 79 80 79 91
Loans and Leases Interest Income		 56 57 58 61 64 65 64 65 66 67 76
Investment Securities Interest Income		 15 15 15 14 14 13 12 12 11 11 13
Deposits and Money Market Investments Interest Income		 2.31 2.38 1.48 1.65 2.05 1.44 1.05 1.41 1.85 1.51 1.53
Total Interest Expense		 18 20 23 25 27 25 24 24 22 21 21
Deposits Interest Expense		 12 14 16 18 20 20 19 20 20 20 21
Short-Term Borrowings Interest Expense		 5.39 5.50 5.89 6.48 6.06 4.71 3.72 2.90 1.54 0.47 0.28
Long-Term Debt Interest Expense		 0.54 0.55 0.55 0.54 0.54 0.51 0.47 0.47 0.47 0.46 0.43
Federal Funds Purchased and Securities Sold Interest Expense		 0.04 0.01 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Non-Interest Income		 6.27 -3.15 -2.90 5.25 1.84 3.29 3.90 1.52 8.33 7.99 8.70
Other Service Charges		 7.32 6.17 6.13 6.19 6.44 6.91 6.87 7.09 7.32 6.82 7.58
Net Realized & Unrealized Capital Gains on Investments		 -1.78 -9.97 -9.95 -1.87 -5.47 -3.88 -3.88 -6.85 0.00 - 0.00
Other Non-Interest Income		 0.73 0.65 0.92 0.93 0.86 0.26 0.92 1.28 1.01 1.17 1.12
Provision for Credit Losses		 -0.88 1.42 1.39 1.27 2.44 1.18 0.05 0.96 1.78 -0.81 -1.03
Total Non-Interest Expense		 41 43 40 39 39 40 41 41 42 41 57
Salaries and Employee Benefits		 25 25 25 24 24 24 26 25 26 27 34
Net Occupancy & Equipment Expense		 8.93 8.94 8.26 8.35 8.81 8.40 8.82 8.51 8.42 8.13 10
Marketing Expense		 0.39 0.70 0.21 0.24 0.13 0.41 0.34 0.34 0.28 0.30 0.38
Property & Liability Insurance Claims		 0.82 0.85 0.80 0.81 0.82 0.83 0.81 0.81 0.80 0.79 1.04
Other Operating Expenses		 5.23 6.89 5.20 4.82 4.76 5.27 5.31 5.66 5.75 5.31 8.68
Amortization Expense		 0.60 0.59 0.42 0.42 0.40 0.40 0.30 0.30 0.28 0.29 2.06
Income Tax Expense		 3.58 0.34 1.12 1.84 1.64 4.40 2.25 2.24 3.14 3.44 3.45
Basic Earnings per Share		 $0.52 $0.18 $0.17 $0.41 $0.33 $0.35 $0.41 $0.36 $0.56 $0.66 $0.49
Weighted Average Basic Shares Outstanding		 35.02M 35.02M 34.83M 34.61M 34.32M 34.47M 34.01M 34.03M 33.95M 34.00M 38.68M
Diluted Earnings per Share		 $0.51 $0.18 $0.16 $0.41 $0.33 $0.34 $0.40 $0.36 $0.55 $0.65 $0.48
Weighted Average Diluted Shares Outstanding		 35.12M 35.26M 35.23M 34.92M 34.66M 34.90M 34.51M 34.45M 34.41M 34.46M 39.10M
Weighted Average Basic & Diluted Shares Outstanding		 34.90M 34.91M 34.69M 34.50M 34.15M 33.99M 34.11M 33.95M 33.96M 41.13M 41.22M
Cash Dividends to Common per Share		 $0.22 $0.22 $0.23 $0.23 $0.23 $0.23 $0.24 $0.24 $0.24 $0.24 $0.24

Annual Cash Flow Statements for Heritage Financial

This table details how cash moves in and out of Heritage Financial's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 5.00 -23 -0.73 59 67 515 980 -1,620 121 -108 116
Net Cash From Operating Activities		 51 54 74 90 92 70 70 94 110 64 95
Net Cash From Continuing Operating Activities		 51 54 74 90 92 70 70 94 110 64 95
Net Income / (Loss) Continuing Operations		 37 39 42 53 68 47 98 82 62 43 68
Consolidated Net Income / (Loss)		 37 39 42 53 68 47 98 82 62 43 68
Provision For Loan Losses		 4.37 4.93 4.22 5.13 4.31 36 -29 -1.43 4.28 6.28 1.97
Depreciation Expense		 14 13 11 18 14 -3.61 -22 0.34 3.17 1.59 0.96
Amortization Expense		 0.23 -0.01 0.28 3.82 4.00 3.53 3.11 2.75 19 21 26
Non-Cash Adjustments to Reconcile Net Income		 -4.68 -4.83 4.89 0.59 -3.30 -12 -0.22 2.18 -0.19 7.35 -6.63
Changes in Operating Assets and Liabilities, net		 0.01 2.26 12 10 5.81 - 20 8.73 22 -15 5.17
Net Cash From Investing Activities		 -217 -253 -241 -110 -125 -539 164 -1,208 -93 -86 187
Net Cash From Continuing Investing Activities		 -217 -253 -241 -110 -125 -539 164 -1,208 -93 -86 187
Purchase of Property, Leasehold Improvements and Equipment		 -1.82 -6.72 -3.06 -23 -13 -7.00 -3.02 -4.02 -10 -3.46 -9.16
Acquisitions		 - - - - - - 0.00 0.00 -14 0.00 0.00
Purchase of Investment Securities		 -476 -558 -416 -471 -387 -852 -69 -1,432 -506 -581 -91
Sale of Property, Leasehold Improvements and Equipment		 0.82 0.66 0.00 0.03 0.10 0.55 0.07 0.11 0.08 0.08 0.05
Sale and/or Maturity of Investments		 293 324 193 287 310 327 277 246 475 525 350
Other Investing Activities, net		 -33 -12 -15 -8.36 -36 -7.12 -42 -18 -38 -27 -63
Net Cash From Financing Activities		 170 176 167 78 99 983 747 -506 105 -86 -166
Net Cash From Continuing Financing Activities		 170 176 167 78 99 983 747 -506 105 -86 -166
Net Change in Deposits		 202 121 163 215 150 1,015 783 -469 -310 85 236
Issuance of Debt		 0.00 661 763 555 446 64 0.00 50 1,890 1,459 536
Repayment of Debt		 0.00 -581 -750 -663 -446 -64 0.00 -50 -1,390 -1,576 -899
Repurchase of Common Equity		 -7.74 -2.89 -0.74 -1.70 -8.64 -19 -23 -3.20 -6.97 -22 -5.52
Payment of Dividends		 -16 -22 -18 -26 -31 -29 -29 -29 -31 -32 -33
Other Financing Activities, Net		 -8.08 -0.45 9.88 -0.66 -11 16 15 -4.24 -47 0.00 0.00
Cash Interest Paid		 6.32 6.00 8.40 12 18 13 6.79 7.71 46 112 90
Cash Income Taxes Paid		 15 12 2.05 5.63 7.53 13 9.89 5.04 3.20 1.77 2.69

Quarterly Cash Flow Statements for Heritage Financial

This table details how cash moves in and out of Heritage Financial's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 112 4.47 -35 -76 62 -58 132 5.44 -8.61 -12 35
Net Cash From Operating Activities		 31 31 13 6.79 24 21 19 23 25 28 14
Net Cash From Continuing Operating Activities		 31 31 13 6.79 24 21 19 23 25 28 14
Net Income / (Loss) Continuing Operations		 18 6.23 5.75 14 11 12 14 12 19 22 19
Consolidated Net Income / (Loss)		 18 6.23 5.75 14 11 12 14 12 19 22 19
Provision For Loan Losses		 -0.88 1.42 1.39 1.27 2.44 1.18 0.05 0.96 1.78 -0.81 -1.03
Depreciation Expense		 0.63 0.80 0.55 0.51 0.08 0.46 0.45 0.19 0.04 0.28 -1.02
Amortization Expense		 0.60 0.59 0.42 0.42 0.40 0.40 6.24 0.30 0.28 25 7.95
Non-Cash Adjustments to Reconcile Net Income		 2.21 -2.47 11 2.05 5.76 -11 5.02 6.95 0.23 -19 -11
Changes in Operating Assets and Liabilities, net		 10 24 -5.95 -12 4.08 17 -6.42 1.90 3.57 0.17 0.30
Net Cash From Investing Activities		 52 -10 33 -54 -22 -44 79 58 27 23 91
Net Cash From Continuing Investing Activities		 52 -10 33 -54 -22 -44 79 58 27 23 91
Purchase of Property, Leasehold Improvements and Equipment		 -3.77 -1.13 -0.89 -0.82 -0.94 -0.80 -1.17 -1.60 -0.68 -5.71 -1.30
Acquisitions		 - - 0.00 - - - 0.00 - - - 0.00
Purchase of Investment Securities		 -37 -210 -125 -162 -148 -146 4.83 -75 -0.49 -20 -305
Sale of Property, Leasehold Improvements and Equipment		 - 0.08 0.00 0.05 - 0.03 0.01 0.04 - - 0.00
Divestitures		 - - - - - - 0.00 - - - 155
Sale and/or Maturity of Investments		 139 207 169 112 128 117 109 136 51 55 245
Other Investing Activities, net		 -32 -5.73 -9.57 -2.51 -0.49 -14 -33 -1.22 -24 -5.60 -2.42
Net Cash From Financing Activities		 29 -16 -82 -29 59 -35 33 -75 -60 -63 -70
Net Cash From Continuing Financing Activities		 29 -16 -82 -29 59 -35 33 -75 -60 -63 -70
Net Change in Deposits		 54 -35 -68 -17 193 -24 161 -61 73 63 -61
Issuance of Debt		 35 100 15 1,305 - 139 107 200 161 69 134
Repayment of Debt		 -35 -50 -15 -1,305 -118 -138 -225 -201 -286 -187 -134
Repurchase of Common Equity		 -2.57 -0.03 -6.12 -4.41 -7.53 -4.36 -0.84 -4.61 -0.02 -0.04 -0.96
Payment of Dividends		 -7.71 -7.68 -8.03 -7.98 -7.92 -7.86 -8.16 -8.19 -8.15 -8.15 -8.15
Other Financing Activities, Net		 -15 -23 0.00 - - - 0.00 - - - 0.00
Cash Interest Paid		 12 16 17 41 26 28 24 24 22 20 20
Cash Income Taxes Paid		 0.25 1.34 0.00 - 1.12 0.16 0.00 0.80 0.33 1.57 0.00

Annual Balance Sheets for Heritage Financial

This table presents Heritage Financial's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 3,651 3,879 190 5,317 5,553 6,615 7,432 6,980 7,175 7,106 6,967
Cash and Due from Banks		 64 77 103 93 95 92 1,785 74 56 59 53
Interest Bearing Deposits at Other Banks		 63 27 - 69 134 651 1,662 29 169 58 181
Trading Account Securities		 812 795 - 976 958 807 896 1,331 1,134 764 608
Loans and Leases, Net of Allowance		 2,372 2,610 -32 3,619 3,732 -70 3,773 4,008 4,288 4,750 4,731
Loans and Leases		 2,402 2,641 - 3,654 3,768 - 3,816 4,051 4,336 4,802 4,783
Allowance for Loan and Lease Losses		 30 31 32 35 36 70 42 43 48 52 53
Premises and Equipment, Net		 62 64 - 81 88 85 79 77 75 72 75
Goodwill		 119 119 119 241 241 241 241 241 241 241 241
Intangible Assets		 8.79 7.37 - 21 17 13 9.98 7.23 4.79 3.15 1.98
Other Assets		 143 169 0.00 216 289 4,796 526 1,212 1,207 1,159 1,078
Total Liabilities & Shareholders' Equity		 3,651 3,879 0.00 5,317 5,553 6,615 7,432 6,980 7,175 7,106 6,967
Total Liabilities		 3,181 3,397 0.00 4,556 4,744 5,795 163 6,182 6,322 6,243 6,046
Non-Interest Bearing Deposits		 3,108 3,230 - 4,432 4,583 5,598 - 5,925 5,600 5,685 5,920
Short-Term Debt		 23 22 - 31 20 36 51 47 500 383 20
Long-Term Debt		 19 99 - 20 21 21 0.00 21 22 22 22
Other Long-Term Liabilities		 30 46 - 72 120 140 112 189 200 153 83
Total Equity & Noncontrolling Interests		 470 482 0.00 761 809 820 854 798 853 864 922
Total Preferred & Common Equity		 470 482 0.00 761 809 820 854 798 853 864 922
Preferred Stock		 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 470 482 0.00 761 809 820 854 798 853 864 922
Common Stock		 359 359 - 592 586 571 552 552 550 532 531
Retained Earnings		 108 125 - 176 212 224 293 345 376 387 422
Accumulated Other Comprehensive Income / (Loss)		 2.56 -2.61 - -7.46 10 25 9.40 -100 -72 -55 -31

Quarterly Balance Sheets for Heritage Financial

This table presents Heritage Financial's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 7,200 7,237 7,115 7,151 7,091 7,060 7,153 7,130 7,071 7,012 8,498
Cash and Due from Banks		 100 370 73 62 53 55 78 89 91 74 98
Interest Bearing Deposits at Other Banks		 307 233 35 159 137 58 98 160 163 171 170
Trading Account Securities		 2,129 1,318 1,277 1,148 997 931 853 716 656 631 1,001
Loans and Leases, Net of Allowance		 -42 4,083 4,205 4,220 4,378 4,481 4,628 4,713 4,722 4,715 5,662
Loans and Leases		 - 4,127 4,251 4,267 4,428 4,533 4,679 4,765 4,775 4,769 5,722
Allowance for Loan and Lease Losses		 42 44 46 47 50 51 51 52 53 54 61
Premises and Equipment, Net		 77 80 79 76 74 73 73 71 71 70 101
Goodwill		 241 241 241 241 241 241 241 241 241 241 279
Intangible Assets		 7.90 6.60 5.98 5.39 4.37 3.95 3.55 2.85 2.55 2.26 50
Other Assets		 4,380 925 1,198 1,240 1,207 1,215 1,180 1,137 1,123 1,106 1,138
Total Liabilities & Shareholders' Equity		 7,200 7,237 7,115 7,151 7,091 7,060 7,153 7,130 7,071 7,012 8,498
Total Liabilities		 6,424 6,389 6,296 6,337 6,244 6,209 6,279 6,248 6,182 6,108 7,383
Non-Interest Bearing Deposits		 6,238 5,789 5,596 5,635 5,532 5,516 5,708 5,845 5,784 5,857 7,249
Short-Term Debt		 40 39 488 473 500 500 382 264 263 138 20
Long-Term Debt		 21 383 22 22 22 22 22 22 22 22 22
Other Long-Term Liabilities		 124 178 190 207 190 172 166 116 113 90 92
Total Equity & Noncontrolling Interests		 777 826 820 814 848 851 875 882 888 904 1,116
Total Preferred & Common Equity		 777 826 820 814 848 851 875 882 888 904 1,116
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 777 826 820 814 848 851 875 882 888 904 1,116
Common Stock		 551 551 550 549 545 541 535 532 529 530 716
Retained Earnings		 330 358 367 378 374 380 383 393 397 408 432
Accumulated Other Comprehensive Income / (Loss)		 -105 -83 -97 -113 -71 -71 -44 -43 -37 -33 -33

Annual Metrics And Ratios for Heritage Financial

This table displays calculated financial ratios and metrics derived from Heritage Financial's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.25 $1.30 $1.39 $1.49 $1.84 $1.29 $2.75 $2.33 $1.76 $1.26 $1.99
Adjusted Weighted Average Basic Shares Outstanding		 29.97M 29.96M 34.01M 36.88M 36.48M 36.01M 35.68M 35.10M 35.02M 34.47M 34.00M
Adjusted Diluted Earnings per Share		 $1.25 $1.30 $1.39 $1.49 $1.83 $1.29 $2.73 $2.31 $1.75 $1.24 $1.96
Adjusted Weighted Average Diluted Shares Outstanding		 29.97M 29.96M 34.01M 36.88M 36.48M 36.17M 35.97M 35.46M 35.26M 34.90M 34.46M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $1.84 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 29.97M 29.96M 34.01M 36.88M 36.48M 35.91M 35.11M 35.11M 34.91M 33.99M 41.13M
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for Heritage Financial

This table displays calculated financial ratios and metrics derived from Heritage Financial's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 41,131,100.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 41,131,100.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.46
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -7.27% -27.22% -28.59% -10.69% -11.46% 12.48% 18.43% 0.25% 19.89% - 35.29%
EBITDA Growth		 -15.82% -73.00% -69.95% -21.01% -41.19% 115.61% 115.59% -11.65% 67.13% - 28.36%
EBIT Growth		 -15.01% -76.42% -72.16% -19.51% -40.06% 148.29% 135.28% -9.60% 70.72% - 38.60%
NOPAT Growth		 -13.20% -72.35% -71.90% -15.95% -37.30% 91.37% 142.01% -13.73% 67.81% - 36.20%
Net Income Growth		 -13.20% -72.35% -71.90% -15.95% -37.30% 91.37% 142.01% -13.73% 67.81% - 36.20%
EPS Growth		 -13.56% -71.88% -72.41% -14.58% -35.29% 88.89% 150.00% -12.20% 66.67% - 20.00%
Operating Cash Flow Growth		 8.99% -3.30% -44.87% -71.78% -22.27% -33.40% 49.26% 231.53% 3.69% - -27.45%
Free Cash Flow Firm Growth		 -570.21% -107.76% 73.78% 93.54% 109.15% 123.54% 329.56% 835.43% 464.68% - -86.59%
Invested Capital Growth		 56.03% 58.79% 7.84% 3.22% -2.29% -7.74% -14.70% -14.49% -16.75% - -0.85%
Revenue Q/Q Growth		 -1.93% -18.04% -4.13% 15.89% -2.78% 4.12% 0.95% -1.90% 16.28% - 17.44%
EBITDA Q/Q Growth		 7.47% -65.39% -1.59% 115.76% -19.98% 26.90% -1.60% -11.58% 51.37% - -42.38%
EBIT Q/Q Growth		 9.69% -69.83% 4.42% 132.89% -18.31% 24.98% -1.05% -10.52% 54.27% - -12.78%
NOPAT Q/Q Growth		 8.15% -65.79% -7.78% 146.33% -19.32% 4.42% 16.62% -12.19% 56.93% - -14.80%
Net Income Q/Q Growth		 8.15% -65.79% -7.78% 146.33% -19.32% 4.42% 16.62% -12.19% 56.93% - -14.80%
EPS Q/Q Growth		 6.25% -64.71% -11.11% 156.25% -19.51% 3.03% 17.65% -10.00% 52.78% - -26.15%
Operating Cash Flow Q/Q Growth		 29.23% -0.46% -58.34% -47.35% 255.97% -14.71% -6.63% 16.94% 11.34% - -50.08%
Free Cash Flow Firm Q/Q Growth		 -1.67% -11.34% 81.35% 69.40% 244.01% 186.47% 81.87% -1.98% 10.57% - -91.17%
Invested Capital Q/Q Growth		 -1.59% 5.09% -0.41% 0.22% -6.84% -0.78% -7.93% 0.48% -9.31% - 20.15%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 37.20% 15.71% 16.13% 30.03% 24.71% 30.12% 29.36% 26.46% 34.45% - 37.64%
EBIT Margin		 35.22% 12.97% 14.12% 28.38% 23.85% 28.62% 28.06% 25.59% 33.95% - 28.74%
Profit (Net Income) Margin		 29.44% 12.29% 11.82% 25.12% 20.85% 20.91% 24.15% 21.62% 29.18% - 24.32%
Tax Burden Percent		 83.58% 94.77% 83.69% 88.52% 87.43% 73.04% 86.09% 84.48% 85.94% - 84.60%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00%
Effective Tax Rate		 16.42% 5.23% 16.31% 11.48% 12.57% 26.96% 13.91% 15.52% 14.06% - 15.40%
Return on Invested Capital (ROIC)		 7.21% 2.67% 2.01% 4.05% 3.39% 3.43% 4.30% 3.84% 5.90% - 5.57%
ROIC Less NNEP Spread (ROIC-NNEP)		 7.21% 2.67% 2.01% 4.05% 3.39% 3.43% 4.30% 3.84% 5.90% - 5.57%
Return on Net Nonoperating Assets (RNNOA)		 2.52% 0.96% 1.16% 2.50% 1.81% 1.85% 2.01% 1.78% 1.87% - 0.92%
Return on Equity (ROE)		 9.73% 3.63% 3.17% 6.55% 5.20% 5.28% 6.31% 5.62% 7.77% - 6.49%
Cash Return on Invested Capital (CROIC)		 -36.50% -39.92% -3.98% 0.11% 5.22% 11.33% 19.92% 19.50% 23.17% - 7.09%
Operating Return on Assets (OROA)		 1.29% 0.45% 0.44% 0.87% 0.70% 0.87% 0.89% 0.82% 1.14% - 0.98%
Return on Assets (ROA)		 1.08% 0.42% 0.37% 0.77% 0.61% 0.63% 0.77% 0.69% 0.98% - 0.83%
Return on Common Equity (ROCE)		 9.73% 3.63% 3.17% 6.55% 5.20% 5.28% 6.31% 5.62% 7.77% - 6.49%
Return on Equity Simple (ROE_SIMPLE)		 9.60% 0.00% 5.55% 5.22% 4.30% 0.00% 5.83% 5.57% 6.33% - 6.50%
Net Operating Profit after Tax (NOPAT)		 18 6.23 5.75 14 11 12 14 12 19 - 19
NOPAT Margin		 29.44% 12.29% 11.82% 25.12% 20.85% 20.91% 24.15% 21.62% 29.18% - 24.32%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
SG&A Expenses to Revenue		 55.47% 67.81% 70.24% 58.98% 60.70% 57.92% 60.70% 60.72% 52.95% - 57.47%
Operating Expenses to Revenue		 66.20% 84.23% 83.01% 69.37% 71.70% 69.30% 71.85% 72.72% 63.34% - 72.58%
Earnings before Interest and Taxes (EBIT)		 22 6.58 6.87 16 13 16 16 14 22 - 22
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 23 7.97 7.84 17 14 17 17 15 23 - 29
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.66 0.83 0.78 0.73 0.85 0.96 0.94 0.91 0.90 - 0.95
Price to Tangible Book Value (P/TBV)		 0.95 1.16 1.10 1.02 1.18 1.34 1.30 1.25 1.23 - 1.35
Price to Revenue (P/Rev)		 2.05 2.90 2.95 2.84 3.53 3.82 3.66 3.56 3.43 - 3.98
Price to Earnings (P/E)		 6.91 11.45 14.06 13.95 19.80 19.16 16.08 16.26 14.20 - 14.61
Dividend Yield		 5.66% 4.35% 4.70% 5.05% 4.22% 3.79% 3.82% 3.98% 3.97% - 3.72%
Earnings Yield		 14.48% 8.74% 7.11% 7.17% 5.05% 5.22% 6.22% 6.15% 7.04% - 6.85%
Enterprise Value to Invested Capital (EV/IC)		 0.62 0.73 0.73 0.75 0.76 0.88 0.74 0.71 0.68 - 0.72
Enterprise Value to Revenue (EV/Rev)		 3.10 4.12 4.43 4.72 4.62 5.15 3.83 3.70 3.07 - 3.13
Enterprise Value to EBITDA (EV/EBITDA)		 8.13 12.78 16.49 18.41 21.01 20.13 13.40 13.36 10.15 - 7.46
Enterprise Value to EBIT (EV/EBIT)		 8.63 13.76 18.03 20.04 22.87 21.37 14.05 13.93 10.50 - 9.83
Enterprise Value to NOPAT (EV/NOPAT)		 10.42 16.25 21.12 23.15 25.88 25.82 16.82 16.89 12.71 - 11.50
Enterprise Value to Operating Cash Flow (EV/OCF)		 7.36 9.16 10.03 12.56 12.99 17.32 12.21 9.66 8.32 - 9.32
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 681.34 14.41 7.46 3.42 3.37 2.68 - 10.11
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.61 0.61 0.62 0.61 0.46 0.47 0.33 0.32 0.18 - 0.04
Long-Term Debt to Equity		 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.02 - 0.02
Financial Leverage		 0.35 0.36 0.58 0.62 0.53 0.54 0.47 0.46 0.32 - 0.16
Leverage Ratio		 9.02 8.57 8.56 8.49 8.47 8.32 8.22 8.13 7.96 - 7.83
Compound Leverage Factor		 9.02 8.57 8.56 8.49 8.47 8.32 8.22 8.13 7.96 - 7.83
Debt to Total Capital		 37.82% 37.95% 38.11% 38.03% 31.60% 31.93% 24.53% 24.32% 15.06% - 3.66%
Short-Term Debt to Total Capital		 36.16% 36.36% 36.51% 36.43% 29.88% 30.19% 22.64% 22.43% 12.97% - 1.73%
Long-Term Debt to Total Capital		 1.66% 1.58% 1.59% 1.60% 1.72% 1.74% 1.89% 1.89% 2.09% - 1.94%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Common Equity to Total Capital		 62.18% 62.05% 61.89% 61.97% 68.40% 68.07% 75.47% 75.68% 84.94% - 96.34%
Debt to EBITDA		 4.95 6.65 8.66 9.36 8.73 7.30 4.44 4.56 2.24 - 0.38
Net Debt to EBITDA		 2.74 3.78 5.51 7.32 4.94 5.19 0.59 0.50 -1.19 - -2.02
Long-Term Debt to EBITDA		 0.22 0.28 0.36 0.39 0.48 0.40 0.34 0.35 0.31 - 0.20
Debt to NOPAT		 6.34 8.45 11.09 11.77 10.75 9.36 5.57 5.77 2.80 - 0.58
Net Debt to NOPAT		 3.51 4.81 7.06 9.20 6.08 6.66 0.74 0.63 -1.49 - -3.11
Long-Term Debt to NOPAT		 0.28 0.35 0.46 0.49 0.59 0.51 0.43 0.45 0.39 - 0.31
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -452 -503 -94 -29 41 118 215 211 233 - 29
Operating Cash Flow to CapEx		 824.30% 2,948.48% 1,444.46% 878.53% 2,568.97% 2,674.32% 1,658.31% 1,445.99% 3,697.20% - 1,072.06%
Free Cash Flow to Firm to Interest Expense		 -25.30 -24.66 -4.11 -1.13 1.54 4.70 9.09 8.97 10.54 - 1.35
Operating Cash Flow to Interest Expense		 1.74 1.52 0.57 0.27 0.90 0.82 0.81 0.96 1.13 - 0.65
Operating Cash Flow Less CapEx to Interest Expense		 1.53 1.47 0.53 0.24 0.87 0.79 0.76 0.89 1.10 - 0.59
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 - 0.03
Fixed Asset Turnover		 3.43 3.21 2.91 2.85 2.83 2.96 3.11 3.13 3.32 - 3.11
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,308 1,375 1,369 1,372 1,278 1,269 1,168 1,174 1,064 - 1,158
Invested Capital Turnover		 0.24 0.22 0.17 0.16 0.16 0.16 0.18 0.18 0.20 - 0.23
Increase / (Decrease) in Invested Capital		 470 509 100 43 -30 -106 -201 -199 -214 - -9.93
Enterprise Value (EV)		 813 1,004 993 1,027 972 1,117 865 836 727 - 834
Market Capitalization		 539 707 661 619 744 829 827 805 813 - 1,060
Book Value per Share		 $23.21 $24.45 $24.34 $24.52 $25.35 $25.28 $25.93 $26.04 $26.63 - $27.13
Tangible Book Value per Share		 $16.18 $17.41 $17.29 $17.46 $18.26 $18.14 $18.76 $18.90 $19.46 - $19.12
Total Capital		 1,308 1,375 1,369 1,372 1,278 1,269 1,168 1,174 1,064 - 1,158
Total Debt		 495 522 522 522 404 405 287 285 160 - 42
Total Long-Term Debt		 22 22 22 22 22 22 22 22 22 - 22
Net Debt		 274 297 332 408 228 288 38 31 -85 - -226
Capital Expenditures (CapEx)		 3.77 1.05 0.89 0.77 0.94 0.77 1.16 1.56 0.68 - 1.30
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Net Nonoperating Obligations (NNO)		 495 522 522 522 404 405 287 285 160 - 42
Total Depreciation and Amortization (D&A)		 1.23 1.39 0.98 0.93 0.48 0.85 0.75 0.49 0.33 - 6.93
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.52 $0.18 $0.17 $0.41 $0.33 $0.35 $0.41 $0.36 $0.56 $0.66 $0.49
Adjusted Weighted Average Basic Shares Outstanding		 35.02M 35.02M 34.83M 34.61M 34.32M 34.47M 34.01M 34.03M 33.95M 34.00M 38.68M
Adjusted Diluted Earnings per Share		 $0.51 $0.18 $0.16 $0.41 $0.33 $0.34 $0.40 $0.36 $0.55 $0.65 $0.48
Adjusted Weighted Average Diluted Shares Outstanding		 35.12M 35.26M 35.23M 34.92M 34.66M 34.90M 34.51M 34.45M 34.41M 34.46M 39.10M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 34.90M 34.91M 34.69M 34.50M 34.15M 33.99M 34.11M 33.95M 33.96M 41.13M 41.22M
Normalized Net Operating Profit after Tax (NOPAT)		 18 6.23 5.75 14 11 12 14 12 19 - 19
Normalized NOPAT Margin		 29.44% 12.29% 11.82% 25.12% 20.85% 20.91% 24.15% 21.62% 29.18% - 24.32%
Pre Tax Income Margin		 35.22% 12.97% 14.12% 28.38% 23.85% 28.62% 28.06% 25.59% 33.95% - 28.74%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.22 0.32 0.30 0.63 0.49 0.65 0.68 0.61 1.01 - 1.04
NOPAT to Interest Expense		 1.02 0.31 0.25 0.56 0.43 0.47 0.59 0.52 0.87 - 0.88
EBIT Less CapEx to Interest Expense		 1.01 0.27 0.26 0.60 0.45 0.62 0.63 0.55 0.98 - 0.98
NOPAT Less CapEx to Interest Expense		 0.81 0.25 0.21 0.53 0.39 0.44 0.54 0.45 0.84 - 0.82
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 39.09% 49.91% 66.16% 70.77% 84.13% 73.46% 62.05% 64.92% 56.54% - 44.98%
Augmented Payout Ratio		 48.01% 61.20% 88.40% 100.35% 132.26% 125.28% 95.38% 99.98% 73.73% - 52.75%

Financials Breakdown Chart

Key Financial Trends

Heritage Financial (HFWA) has shown a notable improvement in profitability and cash generation in 2025 relative to recent prior periods, with continued stability in loan growth and funding sources. Below is a concise, investor-focused read on the latest four years of quarterly data, highlighting the most relevant trends for a retail investor.

  • Net income and earnings per share are up meaningfully in 2025. For Q4 2025, Consolidated Net Income was 22.237 million with Basic EPS of 0.66 and Diluted EPS of 0.65, versus 11.928 million net income and Basic/Diluted EPS around 0.56/0.55 in Q4 2024.
  • Total revenue rose to 66.348 million in Q4 2025 from 50.724 million in Q4 2024 (roughly a 30% year-over-year uptick), with a similar positive trajectory into Q3 2025.
  • Net interest income remains strong and rising. Q4 2025 Total Interest Income reached 78.862 million, and Net Interest Income was about 58.361 million, up modestly from the prior quarter, signaling healthy core banking profitability.
  • Operating cash flow is solid and sequentially improving. Net Cash From Continuing Operating Activities was 27.985 million in Q4 2025, up from 25.067 million in Q3 2025 and higher than earlier quarters, indicating robust cash generation from core activities.
  • Balance sheet and funding base appear healthy. Total Common Equity sits around 0.90 billion (roughly 904 million in Q3 2025), deposits are strong (Non-Interest Bearing Deposits around 5.85-5.86 billion in recent quarters), and the equity base has continued to trend higher year-to-year.
  • Asset mix and loan portfolio remain stable. Loans and Leases, Net of Allowance hovered around 4.71-4.72 billion in 2025, and total assets consistently sit in the 7.0+ billion range, suggesting a steady lending book and asset base.
  • Dividends per share are maintained at a modest level (0.24 per share in recent quarters), contributing to a stable income profile for shareholders without signaling outsized payout pressure.
  • Financing activities are consistently cash outflows. Net cash from financing activities is negative across several quarters (e.g., Q3 2025 and Q4 2025 show meaningful outflows), indicating reliance on debt maturities, issuance, or shareholder payouts that reduce cash on hand.
  • Provision for credit losses and credit risk signals fluctuate. While provisioning levels are not extreme, the quarterly variability (e.g., occasional higher provisioning in some periods) suggests continued sensitivity to loan performance and credit quality trends.
  • Net cash impact from investing activities can be sizeable and occasionally negative. Periods show substantial purchases of investments and other investing outflows, which compress short-term cash liquidity despite strong operating cash flow.
05/14/26 10:23 AM ETAI Generated. May Contain Errors.

Heritage Financial Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Heritage Financial's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Heritage Financial's net income appears to be on an upward trend, with a most recent value of $67.53 million in 2025, rising from $37.49 million in 2015. The previous period was $43.26 million in 2024. View Heritage Financial's forecast to see where analysts expect Heritage Financial to go next.

Over the last 10 years, Heritage Financial's total revenue changed from $161.89 million in 2015 to $246.14 million in 2025, a change of 52.0%.

Heritage Financial's total liabilities were at $6.05 billion at the end of 2025, a 3.2% decrease from 2024, and a 90.1% increase since 2015.

In the past 10 years, Heritage Financial's cash and equivalents has ranged from $52.59 million in 2025 to $1.78 billion in 2021, and is currently $52.59 million as of their latest financial filing in 2025.


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Financial statements for NASDAQ:HFWA last updated on 5/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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