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Jun 30, 2021
Heritage Financial Q2 2021 Earnings Report
Announced second quarter 2021 results.
Key Takeaways
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.
Net income was $32.7 million, or $0.90 per diluted share.
Reversal of provision for credit losses was $14.0 million.
Nonperforming assets to total assets decreased to 0.50%.
Noninterest expense to average total assets was 2.06%.
Revenue by Segment
Forward Guidance
The company announced a plan to close and consolidate four branches on October 29, 2021, bringing the total branch count to 49, a reduction of 21% from 62 branches at September 30, 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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