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	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	258.81	247.47	217.28	174.28	189.83	192.42
Interest Income on Investments	55.83	62.24	67.18	53.18	23	21.9
Total Interest Income	314.64	309.71	284.47	227.46	212.83	214.32
Interest Paid on Deposits	79.87	75.07	39.35	6.77	6.16	12.27
Interest Paid on Borrowings	19.38	25.28	19.96	1.3	0.88	1.06
Total Interest Expense	99.25	100.35	59.31	8.07	7.04	13.32
Net Interest Income	215.39	209.36	225.16	219.39	205.79	201
Net Interest Income Growth (YoY)	1.54%	-7.01%	2.63%	6.61%	2.38%	0.66%
Gain (Loss) on Sale of Assets	1.51	1.55	0.61	0.47	4.41	0.96
Gain (Loss) on Sale of Investments	-21.59	-22.74	-10.63	-0.26	0.03	1.52
Other Non-Interest Income	30.63	28.64	28.34	28.75	26.54	29.71
Total Non-Interest Income	10.55	7.47	18.66	29.59	34.62	37.23
Non-Interest Income Growth (YoY)	92.81%	-59.96%	-36.93%	-14.51%	-7.02%	14.69%
Revenues Before Loan Losses	225.94	216.84	243.82	248.98	240.4	238.23
Provision for Loan Losses	4.63	6.28	4.28	-1.43	-29.37	36.11
Revenue	221.31	210.56	239.54	250.4	269.78	202.12
Revenue Growth (YoY)	3.23%	-12.10%	-4.34%	-7.18%	33.47%	-11.29%
Salaries and Employee Benefits	95.53	94.18	95.76	88.3	85.1	88.11
Occupancy Expenses	12.98	12.91	12.95	17.47	17.24	17.61
Federal Deposit Insurance	3.28	3.26	3.31	2.02	2.11	1.79
Amortization of Goodwill & Intangibles	1.4	1.64	2.43	2.75	3.11	3.53
Selling, General & Administrative	30.49	29.13	33.81	23.84	26.19	23.47
Other Non-Interest Expense	17.63	17.18	18.37	16.6	15.52	14.58
Total Non-Interest Expense	161.3	158.3	166.62	150.97	149.27	148.94
EBT Excluding Unusual Items	60.01	52.26	72.92	99.44	120.51	53.18
Pretax Income	60.01	52.26	72.92	99.44	120.51	53.18
Income Tax Expense	10.54	9	11.16	17.56	22.47	6.61
Net Income	49.48	43.26	61.76	81.88	98.04	46.57
Preferred Dividends & Other Adjustments	-	-	-	-	-	0.01
Net Income to Common	49.48	43.26	61.76	81.88	98.04	46.56
Net Income Growth	11.54%	-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)	-1.58%	-1.02%	-0.58%	-1.42%	-0.54%	-2.21%
EPS (Basic)	1.45	1.26	1.76	2.33	2.75	1.29
EPS (Diluted)	1.43	1.24	1.75	2.31	2.73	1.29
EPS Growth	13.61%	-29.14%	-24.24%	-15.38%	111.63%	-29.51%
Dividend Per Share	0.940	0.920	0.880	0.840	0.810	0.800
Dividend Growth	4.44%	4.54%	4.76%	3.70%	1.25%	8.11%
Effective Tax Rate	17.56%	17.22%	15.30%	17.66%	18.65%	12.43%

Updated Jul 24, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q