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AI brief of an SEC Form 8-K · Heritage Financial (HFWA)

Heritage Financial Q2 net income $14.2 million, up from Q1 but down from a year ago

Mixed Impact 4 of 5 earnings Written later

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.

Key points

  • 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

The filing

CompanyHeritage Financial (HFWA)
Form8-K, current report
Filed with the SECJul 25, 2024, 3:54 PM ET
Accession number0001046025-24-000159

Items reported: 2.02 Results of Operations7.01 Regulation FD Disclosure8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 6:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 25, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.