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Sep 30, 2022
Heritage Financial Q3 2022 Earnings Report
Announced third quarter 2022 results and declared regular cash dividend.
Key Takeaways
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.
Net income was $21.0 million, or $0.59 per diluted share, for the third quarter of 2022.
Loans receivable grew $127.2 million, or 3.3% (13.0% annualized), in the third quarter of 2022.
Net interest income increased $9.2 million, or 18.5%, to $59.3 million for the third quarter of 2022 compared to $50.0 million for the second quarter of 2022.
Net interest margin increased to 3.57% for the third quarter of 2022 from 3.04% for the second quarter of 2022 and 3.15% for the third quarter of 2021.
Forward Guidance
The company believes Heritage is well positioned to continue to take advantage of opportunities and navigate the economic environment in future periods.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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