Every material Form 8-K Heritage Financial has filed with the SEC since July 25, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Heritage Financial Corporation reported third quarter 2026 net income of $18.7 million, or $0.46 per diluted share, up from $17.5 million, or $0.42, in the second quarter but down from $19.2 million in the third quarter of 2025. Adjusted diluted EPS was $0.55, versus $0.57 in the prior quarter, and the company declared a $0.25 quarterly dividend and approved a new buyback of up to about 2.0 million shares.
Net interest margin rose to 4.05% from 3.99% in the second quarter; net interest income increased $2.4 million, or 3.3%.
Merger-related expenses were $5.2 million in the third quarter, down from $7.5 million in the second quarter, tied to the Kitsap Bank customer conversion.
Quarterly cash dividend of $0.25 per share is payable November 18, 2026, to holders of record on November 4, 2026.
New repurchase program authorizes up to 5% of outstanding shares, or about 2.0 million shares, superseding a prior program that was substantially completed in the third quarter.
Heritage Financial reported second quarter 2026 net income of $17.5 million, or $0.42 per diluted share, down from $18.9 million, or $0.48, in the first quarter but up from $12.2 million, or $0.36, a year earlier. Net interest margin rose to 3.99%, and the board declared a $0.25 per share quarterly dividend payable August 19, 2026.
Net income was $17.5 million, or $0.42 per diluted share, versus $18.9 million, or $0.48, in Q1 2026 and $12.2 million, or $0.36, in Q2 2025.
Adjusted diluted EPS was $0.57, compared with $0.59 in Q1 2026 and $0.53 in Q2 2025.
Net interest margin rose 3 basis points to 3.99%; merger-related expenses were $7.5 million in Q2 2026, up from $5.2 million in Q1.
Board declared a $0.25 quarterly cash dividend, payable August 19, 2026, to shareholders of record on August 5, 2026.
Heritage Financial reported first quarter 2026 net income of $18.9 million, or $0.48 per diluted share, compared with $22.2 million, or $0.65, in the fourth quarter of 2025 and $0.40 in the first quarter of 2025. The results reflect the January 31, 2026 acquisition of Olympic Bancorp, which lifted total assets to $8.50 billion and net interest margin to 3.96%, while noninterest expense also rose with Merger-related costs. The company also declared a regular quarterly cash dividend of $0.24 per share.
Net income of $18.9 million, or $0.48 per diluted share, versus $0.65 in Q4 2025 and $0.40 in Q1 2025.
Adjusted diluted EPS, excluding merger-related costs, was $0.59, compared with $0.66 in Q4 2025 and $0.49 in Q1 2025.
Net interest margin rose to 3.96% from 3.72% in Q4 2025; the efficiency ratio rose to 72.6% from 62.5%.
Quarterly dividend of $0.24 per share, payable May 20, 2026, to shareholders of record at the close of business May 6, 2026.
Heritage Financial Corporation (Nasdaq: HFWA) completed its merger with Olympic Bancorp, Inc. effective January 31, 2026, with Olympic merging into the company and Kitsap Bank merging into Heritage Bank. Heritage will issue an aggregate of approximately 7,167,600 common shares as consideration, so the deal increases the number of shares outstanding while Heritage's existing shares are unaffected.
Merger completed effective January 31, 2026, under the Merger Agreement dated September 25, 2025
Each Olympic share converts into 45.0 Heritage common shares, with cash paid in lieu of fractional shares
Heritage will issue an aggregate of approximately 7,167,600 shares; financial statements and pro forma information will be filed by amendment within 71 days
Heritage Financial reported fourth quarter 2025 net income of $22.2 million, or $0.65 per diluted share, up from $19.2 million, or $0.55 per share, in the third quarter. Net interest margin rose to 3.72% and total deposits increased $62.7 million, while classified loans rose $22.4 million from the prior quarter. The company said the acquisition of Olympic Bancorp is expected to close on or about January 31, 2026, subject to customary closing conditions.
Net income was $22.2 million for Q4 2025, versus $19.2 million in Q3 2025 and $11.9 million in Q4 2024.
Diluted EPS was $0.65 for Q4 2025, versus $0.55 in Q3 2025 and $0.34 in Q4 2024; adjusted diluted EPS was $0.66.
Net interest margin increased 8 basis points to 3.72%, and the company declared a $0.24 quarterly dividend payable February 11, 2026.
Heritage Financial Corporation's Board approved the appointment of Scott T. Allan, age 60, as a director effective January 1, 2026, and he will also join the board of Heritage Bank on the same date. He will serve on the Audit and Risk and Technology Committees, and the board determined he is independent under Nasdaq listing standards. The filing says he will receive the company's standard non-employee director compensation, and the company describes him as an experienced business leader with a background in engineering, consulting, and consumer brand leadership.
Scott T. Allan, age 60, joins the Heritage Financial and Heritage Bank boards effective January 1, 2026
He will serve on the Audit and Risk and Technology Committees
The board determined Allan is independent under Nasdaq listing standards
Allan was formerly president and CEO of Hydro Flask from 2012 to 2016 and is a partner at Cascade Growth Partners
Heritage Financial Corporation (HFWA) reported third quarter 2025 net income of $19.2 million, or $0.55 per diluted share, up from $12.2 million, or $0.36, in the second quarter of 2025. Net interest margin rose to 3.64% from 3.51%, and the company declared a $0.24 quarterly dividend while it awaits the first-quarter 2026 closing of its acquisition of Olympic Bancorp, Inc.
Net income was $19.2 million, or $0.55 per diluted share, versus $12.2 million, or $0.36, in Q2 2025.
Net interest margin increased to 3.64% from 3.51% in Q2 2025; total deposits rose $73.1 million to $5.86 billion.
Quarterly cash dividend of $0.24 per share, payable November 19, 2025 to shareholders of record on November 5, 2025.
Pending acquisition of Olympic Bancorp, Inc. and its subsidiary Kitsap Bank; closing expected in the first quarter of 2026.
Heritage Financial Corporation agreed on September 25, 2025 to merge Olympic Bancorp, Inc., the holding company for Kitsap Bank, into Heritage in an all-stock transaction with an implied total value of approximately $176.6 million. Olympic shareholders will receive 45.0 Heritage shares for each Olympic share and will own about 17.4% of the combined company, so Heritage shareholders will own about 82.6%; the company expects closing in the first quarter of 2026, subject to regulatory and shareholder approvals.
Implied total deal value of approximately $176.6 million, based on Heritage's $24.64 closing price on September 24, 2025
Exchange ratio of 45.0 Heritage shares per Olympic share; Olympic shareholders to own about 17.4% of the combined company
Kitsap Bank had total assets of about $1.7 billion and total deposits of $1.4 billion as of June 30, 2025 per the press release
Expected closing in the first quarter of 2026; termination fee of $7,000,000 applies in certain circumstances
Heritage Financial reported second quarter 2025 net income of $12.2 million, or $0.36 per diluted share, down from $13.9 million, or $0.40, in the first quarter and $14.2 million, or $0.41, a year earlier. The results include a $6.9 million pre-tax loss from selling investment securities as part of a balance sheet repositioning, and the company also declared a $0.24 quarterly dividend, which matters to shareholders as a regular cash payout.
Net income was $12.2 million, or $0.36 per diluted share, versus $0.40 in Q1 2025 and $0.41 in Q2 2024.
A $6.9 million pre-tax securities sale loss reduced diluted EPS by $0.15 in the quarter.
Net interest margin rose to 3.51% from 3.44% in the first quarter.
Quarterly cash dividend of $0.24 per share is payable August 20, 2025 to holders of record on August 6, 2025.
Heritage Financial Corporation said Bryan D. McDonald became its President and CEO on May 6, 2025, completing the CEO succession plan, and joined the Board of Directors. Jeffrey J. Deuel retired as CEO the same day and will remain a non-officer employee until March 31, 2027. The change marks a planned leadership transition, and shareholders also elected nine directors and approved the executive pay advisory vote at the May 5, 2025 annual meeting.
Jeffrey J. Deuel retired as CEO effective May 6, 2025 and will serve as a non-officer employee until March 31, 2027.
Bryan D. McDonald, age 53, became President and CEO effective May 6, 2025, and joined the Board; he had been President and CEO of Heritage Bank since July 1, 2024.
McDonald's employment agreement provides a $650,000 annual base salary and a 50% short-term bonus target, with an initial term through June 30, 2028.
At the May 5, 2025 annual meeting, shareholders approved the executive compensation advisory vote with 25,108,341 votes for and 517,307 against.
Heritage Financial reported first quarter 2025 net income of $13.9 million, or $0.40 per diluted share, up from $0.34 in the fourth quarter of 2024 and $0.16 in the first quarter of 2024. The results included a $3.9 million pre-tax loss on a securities sale tied to balance sheet repositioning, which reduced earnings by $0.09 per share. The board also declared a regular quarterly cash dividend of $0.24 per share.
Net income was $13.9 million, or $0.40 per diluted share, versus $11.9 million, or $0.34, in Q4 2024 and $5.7 million, or $0.16, in Q1 2024.
Net interest margin rose to 3.44% from 3.36% in Q4 2024; deposits increased $160.7 million, or 2.8%, to $5.85 billion.
A $3.9 million pre-tax loss on sale of securities reduced diluted earnings by $0.09 per share.
The $0.24 quarterly dividend is payable May 21, 2025 to shareholders of record at the close of business on May 7, 2025.
Heritage Financial reported fourth-quarter 2024 net income of $11.9 million, or $0.34 per diluted share, up from $0.18 a year earlier and $0.33 in the third quarter. Full-year 2024 net income fell to $43.3 million, or $1.24 per diluted share, from $61.8 million, or $1.75, in 2023. The company also declared a quarterly dividend of $0.24 per share, up 4.3% from $0.23, and disclosed a $3.9 million pre-tax securities loss and BOLI restructuring costs that reduced quarterly earnings.
Q4 2024 net income $11.9 million, or $0.34 per diluted share, versus $0.18 in Q4 2023
Full-year 2024 net income $43.3 million, or $1.24 per diluted share, versus $1.75 in 2023
Pre-tax securities loss of $3.9 million and BOLI restructuring costs reduced diluted EPS by a combined $0.17 in Q4
Quarterly dividend of $0.24 per share, payable February 20, 2025, to holders of record on February 6, 2025
Heritage Financial named Karen Saunders, a former KPMG audit partner, to its board and the board of Heritage Bank, effective January 1, 2025. Director Deborah Gavin said she will not stand for re-election at the 2025 annual meeting, and the company said her decision was not due to any disagreement over operations, policies, or practices. The filing covers board changes and a deferred compensation participation agreement for CEO-level executive Matthew Ray, with no financial results reported.
Karen Saunders, age 60, joins the board and Heritage Bank board effective January 1, 2025, and will serve on the Audit and Finance and Risk and Technology Committees
Deborah J. Gavin informed the company on December 13, 2024, that she will not stand for re-election; her term expires at the 2025 Annual Meeting
The board determined Saunders is independent under Nasdaq listing standards
Matthew T. Ray's deferred compensation agreement vests 10% per year, becoming fully vested after ten anniversaries of the January 1, 2025 award date
Heritage Financial reported third quarter 2024 net income of $11.4 million, or $0.33 per diluted share, down from $14.2 million, or $0.41, in the second quarter and $18.2 million, or $0.51, a year earlier. The results include a $6.9 million pre-tax loss on the sale of investment securities, which the company tied to a balance sheet repositioning. The board also declared a $0.23 quarterly dividend per share.
Net income was $11.4 million, or $0.33 per diluted share, versus $14.2 million, or $0.41, in Q2 2024 and $18.2 million, or $0.51, in Q3 2023.
A $6.9 million pre-tax loss on the sale of $78.0 million of investment securities reduced diluted earnings per share by $0.16.
Loans receivable rose $146.9 million, or 3.2%, and total deposits rose $192.8 million, or 3.5%, in the quarter.
Quarterly dividend of $0.23 per share is payable November 20, 2024 to shareholders of record on November 6, 2024.
Heritage Financial Corporation (HFWA) said Nicholas Bley will become Executive Vice President and Chief Operating Officer of Heritage Bank and Executive Vice President of Heritage, effective October 28, 2024. The filing describes an employment agreement with a $400,008 base salary and a $300,000 signing bonus, which matters to shareholders as a senior executive hire with defined pay and severance terms.
Role effective October 28, 2024; employment agreement dated July 23, 2024, runs through June 30, 2027
Annual base salary of $400,008; one-time signing bonus of $300,000 payable January 15, 2025
Target annual cash incentive of 40% of base salary; one-time restricted stock unit award with grant value of approximately $350,000
Bley previously held various titles at JPMorgan Chase & Co., most recently Managing Director and Commercial Real Estate Senior Regional Sales Manager
Heritage Financial reported second quarter 2024 net income of $14.2 million, or $0.41 per diluted share, up from $5.7 million in the first quarter but down from $16.8 million in the second quarter of 2023. The company also declared a $0.23 quarterly dividend and announced a CEO succession plan, with Bryan McDonald named President of Heritage Financial and CEO of Heritage Bank effective July 1, 2024. Shareholders see a sequential profit recovery alongside a year-over-year decline, which included a $1.9 million pre-tax loss on securities sales.
Net income $14.2 million, or $0.41 per diluted share, versus $5.7 million, or $0.16, in Q1 2024 and $16.8 million, or $0.48, in Q2 2023
Q2 included a $1.9 million pre-tax loss on sale of investment securities, which reduced diluted EPS by $0.04
Net interest margin was 3.29%, down from 3.32% in Q1 2024 and 3.56% in Q2 2023; loans receivable rose $104.5 million, or 2.4%
Quarterly cash dividend of $0.23 per share payable August 21, 2024 to holders of record August 7, 2024; Jeff Deuel remains CEO of Heritage Financial until May 6, 2025
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