Company research
HERITAGE FINANCIAL CORP /WA/
CIK 1046025Updated Sep 24, 2026
SecurityHFWA · NASDAQ · equity
HFWA price & chart
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NASDAQ:HFWA on TradingView ↗In the news
Heritage Financial Announces Earnings Release Date and Conference Call ↗
Recent filings
10-Q filing
144 filing
144 filing
144 filing
Results of Operations and Financial Condition · Regulation FD Disclosure · Other Events
Items 2.02, 7.01, 8.01, 9.01
Show 5 more recent filings
Financials
FY 2025 · USDSource
Source
Source
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 6,967,350,000Source | 7,106,278,000Source | 7,174,957,000Source | 6,980,100,000Source |
| Property, Plant and Equipment, NetUSD | 74,690,000Source | 71,580,000Source | 74,899,000Source | 76,930,000Source |
| GoodwillUSD | 240,939,000Source | 240,939,000Source | 240,939,000Source | 240,939,000Source |
| Intangible Assets, Net (Excluding Goodwill)USD | — | — | — | 7,227,000Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 233,089,000Source | 117,100,000Source | 224,973,000Source | 103,590,000Source |
| Operating Lease, Right-of-Use AssetUSD | 19,800,000Source | 22,400,000Source | 23,600,000Source | 22,700,000Source |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 6,045,846,000Source | 6,242,751,000Source | 6,321,696,000Source | 6,182,207,000Source |
| Stockholders’ equity: | ||||
| Preferred Stock, Value, IssuedUSD | 0Source | 0Source | 0Source | 0Source |
| Common Stock, Value, IssuedUSD | 531,100,000Source | 531,674,000Source | 549,748,000Source | 552,397,000Source |
| Retained Earnings (Accumulated Deficit)USD | 421,619,000Source | 387,097,000Source | 375,989,000Source | 345,346,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | -31,215,000Source | -55,244,000Source | -72,476,000Source | -99,850,000Source |
| Stockholders' Equity Attributable to ParentUSD | 921,504,000Source | 863,527,000Source | 853,261,000Source | 797,893,000Source |
| Liabilities and EquityUSD | 6,967,350,000Source | 7,106,278,000Source | 7,174,957,000Source | 6,980,100,000Source |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Deferred Income Tax Expense (Benefit)USD | -17,939,000Source | -15,291,000Source | -13,204,000Source | 871,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 94,819,000Source | 64,483,000Source | 109,523,000Source | 94,456,000Source |
| Cash flows from investing activities: | ||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | 186,750,000Source | -85,903,000Source | -93,446,000Source | -1,207,779,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | 9,156,000Source | 3,459,000Source | 10,376,000Source | 4,016,000Source |
| Cash flows from financing activities: | ||||
| Payments for Repurchase of Common StockUSD | 5,517,000Source | 22,418,000Source | 6,974,000Source | 3,196,000Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | -165,580,000Source | -86,453,000Source | 105,306,000Source | -506,379,000Source |
| Payments of Ordinary Dividends, Common StockUSD | 32,649,000Source | 31,776,000Source | 30,820,000Source | 29,491,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | 115,989,000Source | -107,873,000Source | 121,383,000Source | -1,619,702,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 233,089,000Source | 117,100,000Source | 224,973,000Source | 103,590,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 90,145,000Source | 112,222,000Source | 46,135,000Source | 7,709,000Source |
| Income Taxes Paid, NetUSD | 2,692,000Source | 1,505,000Source | 2,974,000Source | 5,035,000Source |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | 1,174,000Source | 1,640,000Source | 2,434,000Source | 2,750,000Source |
| Bank Owned Life Insurance IncomeUSD | 4,378,000Source | 2,967,000Source | 2,934,000Source | 3,747,000Source |
| Debt and Equity Securities, Realized Gain (Loss)USD | -10,741,000Source | -22,742,000Source | -12,231,000Source | -256,000Source |
| Debt Securities, Available-for-sale, Realized Gain (Loss)USD | -10,741,000Source | -22,742,000Source | -12,231,000Source | -256,000Source |
| Debt Securities, Realized Gain (Loss)USD | -10,741,000Source | -22,742,000Source | -12,231,000Source | — |
| DepreciationUSD | 5,800,000Source | 6,567,000Source | 6,300,000Source | 5,400,000Source |
| Depreciation, Amortization and Accretion, NetUSD | 956,000Source | 1,591,000Source | 3,170,000Source | 341,000Source |
| Disposal Group, Not Discontinued Operation, Gain (Loss) on DisposalUSD | 0Source | 0Source | 610,000Source | — |
| FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversalUSD | -1,508,000Source | -6,983,000Source | -4,736,000Source | — |
| Gain (Loss) on Sale of InvestmentsUSD | — | — | — | -256,000Source |
| Gain (Loss) on Sale of Mortgage LoansUSD | 0Source | 26,000Source | 343,000Source | — |
| Gain (Loss) on Disposition of Other AssetsUSD | 8,000Source | 1,552,000Source | 2,000Source | 469,000Source |
| Gain (Loss) on Disposition of Property Plant EquipmentUSD | 0Source | 1,480,000Source | 0Source | — |
| Gain (Loss) on Sales of Loans, NetUSD | 0Source | 26,000Source | 343,000Source | 633,000Source |
| GoodwillUSD | 240,939,000Source | 240,939,000Source | 240,939,000Source | 240,939,000Source |
| Goodwill, Impairment LossUSD | — | — | — | 0Source |
| Income Tax Expense (Benefit)USD | 11,071,000Source | 9,001,000Source | 11,160,000Source | 17,561,000Source |
| Net Income (Loss) Attributable to ParentUSD | 67,532,000Source | 43,258,000Source | 61,755,000Source | 81,875,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 67,532,000Source | 43,258,000Source | 61,755,000Source | — |
| Other Interest and Dividend IncomeUSD | — | — | — | 9,067,000Source |
| Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-saleUSD | 125,309,000Source | 130,488,000Source | 178,855,000Source | 181,487,000Source |
| Proceeds from Stock Options ExercisedUSD | — | — | — | 0Source |
| Provision for Loan, Lease, and Other LossesUSD | 1,968,000Source | 6,282,000Source | 4,280,000Source | -1,426,000Source |
| Financing Receivable, Credit Loss, Expense (Reversal)USD | 1,968,000Source | 6,282,000Source | 4,280,000Source | — |
| Unrealized Gain (Loss) on DerivativesUSD | — | 0Source | 0Source | — |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | 78,603,000Source | 52,259,000Source | 72,915,000Source | 99,436,000Source |
| Income Tax Expense (Benefit)USD | 11,071,000Source | 9,001,000Source | 11,160,000Source | 17,561,000Source |
| Net Income (Loss) Attributable to ParentUSD | 67,532,000Source | 43,258,000Source | 61,755,000Source | 81,875,000Source |
| Earnings Per Share, BasicUSD per share | 1.99Source | 1.26Source | 1.76Source | 2.33Source |
| Earnings Per Share, DilutedUSD per share | 1.96Source | 1.24Source | 1.75Source | 2.31Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 33,996,149Source | 34,465,323Source | 35,022,247Source | 35,103,465Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 34,456,904Source | 34,899,036Source | 35,258,189Source | 35,463,896Source |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | 1,174,000Source | 1,640,000Source | 2,434,000Source | 2,750,000Source |
| Bank Owned Life Insurance IncomeUSD | 4,378,000Source | 2,967,000Source | 2,934,000Source | 3,747,000Source |
| Common Stock, Dividends, Per Share, DeclaredUSD per share | 0.96Source | 0.92Source | 0.88Source | 0.84Source |
| Current Income Tax Expense (Benefit)USD | 29,010,000Source | 24,292,000Source | 24,364,000Source | 16,690,000Source |
| Debt and Equity Securities, Realized Gain (Loss)USD | -10,741,000Source | -22,742,000Source | -12,231,000Source | -256,000Source |
| Debt Securities, Realized Gain (Loss)USD | -10,741,000Source | -22,742,000Source | -12,231,000Source | — |
| FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversalUSD | -1,508,000Source | -6,983,000Source | -4,736,000Source | — |
| Goodwill, Impairment LossUSD | — | — | — | 0Source |
| Income (Loss) from Continuing Operations before Income Taxes, DomesticUSD | 78,603,000Source | — | — | — |
| Interest ExpenseUSD | — | — | 59,310,000Source | 8,072,000Source |
| InterestExpenseOperatingUSD | 89,831,000Source | 100,348,000Source | — | — |
| Interest Expense, Securities Sold under Agreements to RepurchaseUSD | 0Source | 0Source | 153,000Source | — |
| Interest Income (Expense), NetUSD | 224,405,000Source | 209,364,000Source | 225,155,000Source | 219,385,000Source |
| Interest Revenue (Expense), NetUSD | — | -273,927,000Source | — | — |
| Labor and Related ExpenseUSD | 104,023,000Source | 98,527,000Source | 100,083,000Source | 92,092,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 67,532,000Source | 43,258,000Source | 61,755,000Source | — |
| Other Interest and Dividend IncomeUSD | — | — | — | 9,067,000Source |
| Taxes, MiscellaneousUSD | — | — | — | 3,634,000Source |