HERITAGE FINANCIAL CORP /WA/ HFWA

Financials SIC 6036 - Savings Institutions, Not Federally Chartered NAICS Finance and Insurance › Credit Intermediation and Related Activities › Depository Credit Intermediation › Savings Institutions and Other Depository Credit Intermediation derived Nasdaq

Heritage Financial Corporation is a bank holding company that was incorporated in the State of Washington in August 1997. We are primarily engaged in the business of planning, directing, and coordinating the business activities of our wholly-owned subsidiary and single reportable segment, Heritage Bank.

Heritage Bank is headquartered in Olympia, Washington and conducts business from its 50 branch offices located throughout Washington State, the greater Portland, Oregon area, Eugene, Oregon and Boise, Idaho and its one loan production office in Spokane, Washington as of December 31, 2025. Heritage Bank also does business under the Whidbey Island Bank name on Whidbey Island, Washington. On January 31, 2026, Heritage completed its acquisition of Olympic and Olympic's wholly-owned banking subsidiary, Kitsap Bank. The acquisition added 16 branch offices to the franchise, doing business under the Kitsap Bank name as a division of Heritage Bank. The deposits of the Bank are insured by the FDIC.

Last close 29.15 2026-10-23
Market cap $1.19B 2026-06-30 share count
52-week range 21.32 - 31.25

Valuation FY2025 figures against the last close

P/S3.8x
P/E14.9x
P/FCF13.9x
EV/EBITDA—
Dividend yield2.7%
Diluted EPS1.96

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $314.2M$309.7M$284.5M$227.5M$212.8M$214.3M$217.8M$199.4M$147.7M$138.5M
Interest expense $224.4M$209.4M$225.2M$219.4M$7.0M$13.3M$18.2M$12.4M$8.3M$6.0M
Pre-tax income $78.6M$52.3M$72.9M$99.4M$120.5M$53.2M$81.0M$64.3M$60.1M$52.7M
Income tax $11.1M$9.0M$11.2M$17.6M$22.5M$6.6M$13.5M$11.2M$18.4M$13.8M
Net income $67.5M$43.3M$61.8M$81.9M$98.0M$46.6M$67.6M$53.1M$41.8M$38.9M
EPS, basic 1.991.261.762.332.751.291.841.491.391.30
EPS, diluted 1.961.241.752.312.731.291.831.491.391.30
Shares, diluted (wtd. avg.) 34.5M34.9M35.3M35.5M36.0M36.2M37.0M35.4M29.8M29.7M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $233.1M$117.1M$225.0M$103.6M$1.72B$743.3M$228.6M$161.9M$103.0M$103.7M
Property, plant and equipment $74.7M$71.6M$74.9M$76.9M$79.4M$85.5M$87.9M$81.1M$60.3M$63.9M
Goodwill $240.9M$240.9M$240.9M$240.9M$240.9M$240.9M$240.9M$240.9M$119.0M$119.0M
Other intangibles $2.0M$3.2M$4.8M$7.2M$10.0M$13.1M$16.6M$20.6M$6.1M$7.4M
Total assets $6.97B$7.11B$7.17B$6.98B$7.43B$6.62B$5.55B$5.32B$4.11B$3.88B
Total liabilities $6.05B$6.24B$6.32B$6.18B$6.58B$5.79B$4.74B$4.56B$3.60B$3.40B
Retained earnings $421.6M$387.1M$376.0M$345.3M$293.2M$224.4M$212.5M$176.4M$149.0M$125.3M
Total equity $921.5M$863.5M$853.3M$797.9M$854.4M$820.4M$809.3M$760.7M$508.3M$481.8M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $94.8M$64.5M$109.5M$94.5M$69.5M$70.3M$92.5M$90.4M$73.5M$54.0M
Depreciation and amortisation $956.0K$1.6M$3.2M$341.0K-$21.7M-$3.6M$14.1M$17.6M$10.7M$12.7M
Stock-based compensation —————————$0
Capital expenditure $9.2M$3.5M$10.4M$4.0M$3.0M$7.0M$13.0M$23.3M$3.1M$6.7M
Investing cash flow $186.8M-$85.9M-$93.4M-$1.21B$163.8M-$538.5M-$125.3M-$109.6M-$241.4M-$252.9M
Financing cash flow -$165.6M-$86.5M$105.3M-$506.4M$746.7M$983.0M$99.5M$78.1M$167.2M$176.1M
Dividends paid $32.6M$31.8M$30.8M$29.5M$28.9M$28.9M$30.9M$25.8M$18.3M$21.6M
Buybacks $5.5M$22.4M$7.0M$3.2M$22.9M$19.1M$8.6M$1.7M$737.0K$2.9M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-012703.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 100M 200M 300M 400M Revenue, FY2016: 138.5M Net income, FY2016: 38.9M Revenue, FY2017: 147.7M Net income, FY2017: 41.8M Revenue, FY2018: 199.4M Net income, FY2018: 53.1M Revenue, FY2019: 217.8M Net income, FY2019: 67.6M Revenue, FY2020: 214.3M Net income, FY2020: 46.6M Revenue, FY2021: 212.8M Net income, FY2021: 98M Revenue, FY2022: 227.5M Net income, FY2022: 81.9M Revenue, FY2023: 284.5M Net income, FY2023: 61.8M Revenue, FY2024: 309.7M Net income, FY2024: 43.3M Revenue, FY2025: 314.2M Net income, FY2025: 67.5M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $138.5M $147.7M $199.4M $217.8M $214.3M $212.8M $227.5M $284.5M $309.7M $314.2M
Gross profit — — — — — — — — — —
Net income $38.9M $41.8M $53.1M $67.6M $46.6M $98.0M $81.9M $61.8M $43.3M $67.5M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Other event Item 8.01
  • Other event Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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