Heritage Financial Corporation (HFWA)

Heritage Financial Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	247.47	217.28	174.28	189.83	192.42
Interest Income on Investments	62.24	67.18	53.18	23	21.9
Total Interest Income	309.71	284.47	227.46	212.83	214.32
Interest Paid on Deposits	75.07	39.35	6.77	6.16	12.27
Interest Paid on Borrowings	25.28	19.96	1.3	0.88	1.06
Total Interest Expense	100.35	59.31	8.07	7.04	13.32
Net Interest Income	209.36	225.16	219.39	205.79	201
Net Interest Income Growth (YoY)	-7.01%	2.63%	6.61%	2.38%	0.66%
Gain (Loss) on Sale of Assets	1.55	0.61	0.47	4.41	0.96
Gain (Loss) on Sale of Investments	-22.74	-10.63	-0.26	0.03	1.52
Other Non-Interest Income	28.64	28.34	27.75	26.54	29.71
Total Non-Interest Income	7.47	18.66	28.59	34.62	37.23
Non-Interest Income Growth (YoY)	-59.96%	-34.72%	-17.40%	-7.02%	14.68%
Revenues Before Loan Losses	216.84	243.82	247.98	240.4	238.23
Provision for Loan Losses	6.28	4.28	-1.43	-29.37	36.11
Revenue	210.56	239.54	249.4	269.78	202.12
Revenue Growth (YoY)	-12.10%	-3.96%	-7.55%	33.47%	-11.29%
Salaries and Employee Benefits	98.53	95.76	88.3	85.1	88.11
Occupancy Expenses	19.29	12.95	11.41	17.24	17.61
Federal Deposit Insurance	3.26	3.31	2.02	2.11	1.79
Amortization of Goodwill & Intangibles	1.64	2.43	2.75	3.11	3.53
Selling, General & Administrative	18.4	34.76	30.79	26.19	23.47
Other Non-Interest Expense	17.18	17.41	15.7	15.52	14.58
Total Non-Interest Expense	158.3	166.62	150.97	149.27	148.94
EBT Excluding Unusual Items	52.26	72.92	98.44	120.51	53.18
Pretax Income	52.26	72.92	99.44	120.51	53.18
Income Tax Expense	9	11.16	17.56	22.47	6.61
Net Income	43.26	61.76	81.88	98.04	46.57
Preferred Dividends & Other Adjustments	-	-	-	-	0.01
Net Income to Common	43.26	61.76	81.88	98.04	46.56
Net Income Growth	-29.95%	-24.57%	-16.48%	110.51%	-31.07%
Basic Shares Outstanding	34	35	35	36	36
Diluted Shares Outstanding	35	35	35	36	36
Shares Change (YoY)	-1.02%	-0.58%	-1.42%	-0.54%	-2.21%
EPS (Basic)	1.26	1.76	2.33	2.75	1.29
EPS (Diluted)	1.24	1.75	2.31	2.73	1.29
EPS Growth	-29.14%	-24.24%	-15.38%	111.63%	-29.51%
Dividend Per Share	0.920	0.880	0.840	0.810	0.800
Dividend Growth	4.55%	4.76%	3.70%	1.25%	8.11%
Effective Tax Rate	17.22%	15.31%	17.66%	18.65%	12.43%

Source: S&P Capital IQ. Banks template. Financial Sources.