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	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	254.05	247.47	217.28	174.28	189.83	192.42
Interest Income on Investments	58.68	62.24	67.18	53.18	23	21.9
Total Interest Income	312.73	309.71	284.47	227.46	212.83	214.32
Interest Paid on Deposits	78.17	75.07	39.35	6.77	6.16	12.27
Interest Paid on Borrowings	23.03	25.28	19.96	1.3	0.88	1.06
Total Interest Expense	101.2	100.35	59.31	8.07	7.04	13.32
Net Interest Income	211.52	209.36	225.16	219.39	205.79	201
Net Interest Income Growth (YoY)	-2.45%	-7.01%	2.63%	6.61%	2.38%	0.66%
Gain (Loss) on Sale of Assets	1.56	1.55	0.61	0.47	4.41	0.96
Gain (Loss) on Sale of Investments	-16.66	-22.74	-10.63	-0.26	0.03	1.52
Other Non-Interest Income	29.38	28.64	28.34	28.75	26.54	29.71
Total Non-Interest Income	14.28	7.47	18.66	29.59	34.62	37.23
Non-Interest Income Growth (YoY)	90.22%	-59.96%	-36.93%	-14.51%	-7.02%	14.69%
Revenues Before Loan Losses	225.8	216.84	243.82	248.98	240.4	238.23
Provision for Loan Losses	4.94	6.28	4.28	-1.43	-29.37	36.11
Revenue	220.86	210.56	239.54	250.4	269.78	202.12
Revenue Growth (YoY)	0.16%	-12.10%	-4.34%	-7.18%	33.47%	-11.29%
Salaries and Employee Benefits	94.51	94.18	95.76	88.3	85.1	88.11
Occupancy Expenses	12.9	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	1.52	1.64	2.43	2.75	3.11	3.53
Selling, General & Administrative	29.98	29.13	33.81	23.84	26.19	23.47
Other Non-Interest Expense	17.12	17.18	18.37	16.6	15.52	14.58
Total Non-Interest Expense	159.31	158.3	166.62	150.97	149.27	148.94
EBT Excluding Unusual Items	61.55	52.26	72.92	99.44	120.51	53.18
Pretax Income	61.55	52.26	72.92	99.44	120.51	53.18
Income Tax Expense	10.13	9	11.16	17.56	22.47	6.61
Net Income	51.42	43.26	61.76	81.88	98.04	46.57
Preferred Dividends & Other Adjustments	-	-	-	-	-	0.01
Net Income to Common	51.42	43.26	61.76	81.88	98.04	46.56
Net Income Growth	9.30%	-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)	-1.38%	-1.02%	-0.58%	-1.42%	-0.54%	-2.21%
EPS (Basic)	1.50	1.26	1.76	2.33	2.75	1.29
EPS (Diluted)	1.48	1.24	1.75	2.31	2.73	1.29
EPS Growth	11.50%	-29.14%	-24.24%	-15.38%	111.63%	-29.51%
Dividend Per Share	0.930	0.920	0.880	0.840	0.810	0.800
Dividend Growth	4.49%	4.54%	4.76%	3.70%	1.25%	8.11%
Effective Tax Rate	16.46%	17.22%	15.30%	17.66%	18.65%	12.43%

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

SEC Filings: 10-K · 10-Q