Heritage Financial delivered robust Q4 performance with increased net income, improved interest margin, and controlled expenses, highlighting operational strength ahead of its Olympic Bancorp acquisition.

Heritage Financial Corporation announced a robust third quarter for 2025, with net income rising to $19.2 million, or $0.55 per diluted share, a substantial increase from the previous quarter and the same period last year. The company experienced margin expansion due to higher loan yields and lower deposit costs, leading to a 4.3% increase in net interest income quarter-over-quarter. Total deposits grew by 1.3%, and the company successfully reduced borrowings by 64% year-to-date.

Heritage Financial reported a net income of $12.2 million for the second quarter of 2025, down from $13.9 million in the previous quarter and $14.2 million in the same period last year. Diluted earnings per share were $0.36, compared to $0.40 in Q1 2025 and $0.41 in Q2 2024. The results were significantly impacted by a pre-tax loss of $6.9 million on the sale of investment securities and a tax expense of $515,000 related to the surrender of bank-owned life insurance.

Heritage Financial Corporation announced strong operating results for the first quarter of 2025, with net income of $13.9 million and diluted EPS of $0.40. The company experienced solid deposit growth, margin expansion, and lower cost of deposits, while strategically repositioning its balance sheet despite a pre-tax loss on sale of securities.

Heritage Financial Corporation reported a net income of $11.9 million for Q4 2024, an increase from $11.4 million in the previous quarter and $6.2 million in Q4 2023. The results were impacted by a pre-tax loss on the sale of securities of $3.9 million and $2.9 million in total after-tax costs related to BOLI restructuring. Loan growth was strong, and the net interest margin increased to 3.39%.

Heritage Financial Corporation reported a net income of $11.4 million for the third quarter of 2024, a decrease compared to $14.2 million for the second quarter of 2024 and $18.2 million for the third quarter of 2023. The results include a pre-tax loss on the sale of securities of $6.9 million. However, the company saw positive growth in loans and deposits, with a net interest margin of 3.33%.

Heritage Financial Corporation reported a net income of $14.2 million for the second quarter of 2024, compared to $5.7 million for the first quarter of 2024 and $16.8 million for the second quarter of 2023. The company experienced strong loan growth and benefits from ongoing expense management measures, though modest margin compression continued.

Heritage Financial Corporation reported a net income of $5.7 million for the first quarter of 2024, a decrease compared to both the previous quarter and the same quarter last year. The results were impacted by a loss on the sale of securities and costs related to expense management measures, though the company saw strong loan growth and balance sheet repositioning.

Heritage Financial Corporation reported a net income of $6.2 million for Q4 2023, a decrease compared to $18.2 million in the previous quarter and $22.5 million in Q4 2022. The results were affected by a loss on sale of securities and expense management costs, but the company saw strong loan growth and repositioned its investment portfolio. The company declared a regular cash dividend of $0.23 per share.

Heritage Financial Corporation reported a net income of $18.2 million for Q3 2023, an increase from $16.8 million in Q2 2023. The company saw growth in loans and deposits, maintained strong capital ratios, and focused on prudent risk and expense management. The bank is also partnering on an affordable housing project in Vancouver, Washington.

Heritage Financial Corporation reported a net income of $16.8 million for the second quarter of 2023, a decrease compared to both the previous quarter and the same quarter last year. The company's loan portfolio continues to grow, but is experiencing pressure on funding costs.

Heritage Financial Corporation reported a net income of $20.5 million for Q1 2023, with diluted earnings per share at $0.58. The company saw loan growth and maintained strong capital ratios and credit quality. Deposits decreased due to competitive pricing pressures.

Heritage Financial Corporation reported a net income of $22.5 million for the fourth quarter of 2022, compared to $19.4 million for the fourth quarter of 2021. Diluted earnings per share for the fourth quarter of 2022 were $0.64, compared to $0.55 for the fourth quarter of 2021. Net interest income increased by $15.2 million, or 31.7%, compared to the fourth quarter of 2021, and net interest margin increased to 3.98%.

Heritage Financial Corporation reported a net income of $21.0 million for Q3 2022, an increase compared to $18.6 million for Q2 2022 and $20.6 million for Q3 2021. The diluted earnings per share were $0.59, compared to $0.52 for the previous quarter and $0.58 for the same quarter last year. Loan receivable grew by $127.2 million, and net interest income increased by $9.2 million.

Heritage Financial Corporation reported a net income of $18.6 million for the second quarter of 2022, a decrease compared to both the previous quarter and the same quarter last year. However, the company saw positive progress in loan growth and improvement in credit quality, along with an increased net interest margin.

Heritage Financial Corporation reported a net income of $19.8 million for the first quarter of 2022, compared to $19.4 million for the fourth quarter of 2021 and $25.3 million for the first quarter of 2021. The diluted earnings per share for the first quarter of 2022 were $0.56, compared to $0.55 for the fourth quarter of 2021 and $0.70 for the first quarter of 2021.

Heritage Financial Corporation reported a net income of $19.4 million for the fourth quarter of 2021, a decrease compared to both the previous quarter and the same quarter last year. The diluted earnings per share were $0.55, also lower than the previous quarter and the fourth quarter of 2020.

Heritage Financial Corporation reported a net income of $20.6 million for the quarter ended September 30, 2021, compared to $32.7 million for the linked-quarter ended June 30, 2021, and $16.6 million for the quarter ended September 30, 2020. Diluted earnings per share for the quarter ended September 30, 2021, were $0.58 compared to $0.90 for the linked-quarter ended June 30, 2021, and $0.46 for the quarter ended September 30, 2020.

Heritage Financial Corporation reported a net income of $32.7 million for the quarter ended June 30, 2021, compared to a net loss of $6.1 million for the quarter ended June 30, 2020. Diluted earnings per share for the quarter ended June 30, 2021 were $0.90, compared to a loss per share of $0.17 for the quarter ended June 30, 2020.

Heritage Financial Corporation reported a net income of $25.3 million for the quarter ended March 31, 2021, an increase compared to $23.9 million for the linked-quarter and $12.2 million for the quarter ended March 31, 2020. Diluted earnings per share were $0.70, compared to $0.66 for the linked-quarter and $0.34 for the quarter ended March 31, 2020.

Heritage Financial Corporation reported a net income of $16.6 million for the quarter ended September 30, 2020, a significant improvement compared to the net loss of $6.1 million in the previous quarter. Diluted earnings per share were $0.46, and the company declared a regular cash dividend of $0.20 per common share.

Heritage Financial Corporation reported a net loss of $6.1 million for the second quarter of 2020, compared to a net income of $12.2 million in the previous quarter and $16.0 million in the same quarter of the previous year. The loss was primarily due to a significant increase in the provision for credit losses, driven by the economic impact of the COVID-19 pandemic. However, the company saw growth in loans and deposits, particularly through the SBA PPP program.

Heritage Financial Corporation reported a net income of $12.2 million and diluted earnings per share of $0.33 for Q1 2020. The results were impacted by a provision for credit losses of $10.0 million due to the adoption of CECL and forecasted credit deterioration from COVID-19. The company funded 2,817 PPP loans totaling $687.1 million as of April 26, 2020.

Heritage Financial Corporation reported a slight decrease in net income for Q4 2019, with diluted earnings per share remaining almost the same compared to the previous quarter. The company saw growth in total loans and deposits, and an improvement in noninterest expense to average total assets.