Every material Form 8-K Heritage Financial filed with the SEC in 2025, 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'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
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.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Heritage Financial filing is on SEC EDGAR ↗. 8-K briefs of other companies →