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Dec 31, 2021
Heritage Financial Q4 2021 Earnings Report
Announced fourth quarter and annual 2021 results and declared regular cash dividend.
Key Takeaways
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.
Net income was $19.4 million, or $0.55 per diluted share, for the fourth quarter of 2021.
Reversal of provision for credit losses was $5.0 million for the fourth quarter of 2021.
The ratio of nonperforming assets to total assets decreased to 0.32% at December 31, 2021.
New commercial loan commitments originated totaled $329.2 million for the fourth quarter of 2021.
Heritage Financial
Heritage Financial
Forward Guidance
While we continue to be challenged by the COVID-environment and the related uncertainty, we begin 2022 on solid ground. We are well-positioned to take advantage of a rising rate environment and we continue to benefit from the strong economic climate in the region.