Heritage Financial Corporation (HFWA)

Heritage Financial Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	261.1	247.47	217.28	174.28	189.83	192.42
Interest Income on Investments	53.24	62.24	67.18	53.18	23	21.9
Total Interest Income	314.33	309.71	284.47	227.46	212.83	214.32
Interest Paid on Deposits	79.73	75.07	39.35	6.77	6.16	12.27
Interest Paid on Borrowings	14.8	25.28	19.96	1.3	0.88	1.06
Total Interest Expense	94.53	100.35	59.31	8.07	7.04	13.32
Net Interest Income	219.81	209.36	225.16	219.39	205.79	201
Net Interest Income Growth (YoY)	4.93%	-7.01%	2.63%	6.61%	2.38%	0.66%
Gain (Loss) on Sale of Assets	0.03	1.55	0.61	0.47	4.41	0.96
Gain (Loss) on Sale of Investments	-14.64	-22.74	-10.63	-0.26	0.03	1.52
Other Non-Interest Income	31.65	28.64	28.34	28.75	26.54	29.71
Total Non-Interest Income	17.04	7.47	18.66	29.59	34.62	37.23
Non-Interest Income Growth (YoY)	1544.30%	-59.96%	-36.93%	-14.51%	-7.02%	14.69%
Revenues Before Loan Losses	236.84	216.84	243.82	248.98	240.4	238.23
Provision for Loan Losses	3.97	6.28	4.28	-1.43	-29.37	36.11
Revenue	232.88	210.56	239.54	250.4	269.78	202.12
Revenue Growth (YoY)	14.16%	-12.10%	-4.34%	-7.18%	33.47%	-11.29%
Salaries and Employee Benefits	96.72	94.18	95.76	88.3	85.1	88.11
Occupancy Expenses	12.79	12.91	12.95	17.47	17.24	17.61
Federal Deposit Insurance	3.25	3.26	3.31	2.02	2.11	1.79
Amortization of Goodwill & Intangibles	1.29	1.64	2.43	2.75	3.11	3.53
Selling, General & Administrative	31.8	29.13	33.81	23.84	26.19	23.47
Other Non-Interest Expense	17.78	17.18	18.37	16.6	15.52	14.58
Total Non-Interest Expense	163.62	158.3	166.62	150.97	149.27	148.94
EBT Excluding Unusual Items	69.25	52.26	72.92	99.44	120.51	53.18
Pretax Income	69.25	52.26	72.92	99.44	120.51	53.18
Income Tax Expense	12.03	9	11.16	17.56	22.47	6.61
Net Income	57.22	43.26	61.76	81.88	98.04	46.57
Preferred Dividends & Other Adjustments	-	-	-	-	-	0.01
Net Income to Common	57.22	43.26	61.76	81.88	98.04	46.56
Net Income Growth	52.34%	-29.95%	-24.57%	-16.48%	110.51%	-31.07%
Basic Shares Outstanding	34	34	35	35	36	36
Diluted Shares Outstanding	35	35	35	35	36	36
Shares Change (YoY)	-1.49%	-1.02%	-0.58%	-1.42%	-0.54%	-2.21%
EPS (Basic)	1.68	1.26	1.76	2.33	2.75	1.29
EPS (Diluted)	1.65	1.24	1.75	2.31	2.73	1.29
EPS Growth	53.03%	-29.14%	-24.24%	-15.38%	111.63%	-29.51%
Dividend Per Share	0.950	0.920	0.880	0.840	0.810	0.800
Dividend Growth	4.40%	4.54%	4.76%	3.70%	1.25%	8.11%
Effective Tax Rate	17.37%	17.22%	15.30%	17.66%	18.65%	12.43%

Updated Oct 23, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q