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Mar 31, 2021
Heritage Financial Q1 2021 Earnings Report
Announced first quarter 2021 results.
Key Takeaways
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.
Net income was $25.3 million, or $0.70 per diluted share.
Noninterest expense to average total assets, annualized, was 2.22%.
Reversal of provision for credit losses was $7.2 million.
Capital remains strong with Tier 1 leverage ratio of 9.1% and total risk-based capital ratio of 14.5%.
Forward Guidance
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements often include words such as "believe," "expect,"anticipate," "estimate," and "intend" or future or conditional verbs such as "will," "would," "should," "could," or "may."
Historical Earnings Impact
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Avg. Return Before/After Earnings
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