Vitals
  • Total Assets
    3.9B 6.1 %
  • Total Deposits
    3.2B 3.9 %
  • Total Net Loans
    2.6B 10.1 %
  • Net Income
    41.8M 4.3 %
  • Book Value
    489.4M 1.4 %
  • Book Value x2
    978.8M 1.4 %
  • Book Value x3
    1.5B 1.4 %
ROAA

1.122

ROAE

8.465

Efficiency Ratio

61.605

Net Interest Margin

4.065

Balance Sheet Highlights
Financial Highlights Heritage Bank All Insured Commercial Banks in Washington
Balance Sheet $(000)
Total Assets 3,872,476 1,309,331
Total Net Loans 2,621,328 914,924
Total Deposits 3,248,872 1,092,792
Total Equity 489,388 152,127
Profitability
Net Income 41,849 12,922
Return on Average Assets 1.122 .911
Return on Average Equity 8.465 8.319
Net Interest Margin 4.065 3.836
Efficiency Ratio 61.605 71.805
Noninterest Income/Revenue 18.214 18.251
Balance Sheet Ratios
Loan-to-Deposit 80.684 80.687
Securities/Assets .205 .16
Total Equity/Total Assets .126 .116
Tangible Equity/Tangible Assets .094 .099
Capital Adequacy
Tier 1 Common Capital 369,915 127,821
Tier 1 Capital 369,915 127,821
Tier 2 Capital 31,253 10,823
Total Capital 401,168 138,644
Total Risk Weighted Assets 3,164,378 1,050,147
Leverage Ratio 10 10.428
Common Equity Tier 1 Capital Ratio 11.69 14.247
Tier 1 Capital Ratio 11.69 14.247
Total Capital Ratio 12.68 15.385

Timeline for Heritage Bank

Whidbey Island Bank

Acquisition: Heritage Bank acquired a new subsidiary, Whidbey Island Bank, 9 years

View Profile May 01 2014

Valley Bank

Acquisition: Heritage Bank acquired a new subsidiary, Valley Bank, 10 years

View Profile Jul 15 2013

Central Valley Bank

Acquisition: Heritage Bank acquired a new subsidiary, Central Valley Bank, 10 years

View Profile Jun 20 2013

Northwest Commercial Bank

Acquisition: Heritage Bank acquired a new subsidiary, Northwest Commercial Bank, 11 years

View Profile Jan 10 2013

Pierce Commercial Bank

Acquisition: Heritage Bank acquired a new subsidiary, Pierce Commercial Bank, 13 years

View Profile Nov 06 2010

Want to see more?

Complete timeline for Heritage Bank is available.

View Complete Timeline
Acquisitions & Mergers Role Assets Acct Method Type Transaction Date
Whidbey Island Bank Seller 1,684,640 Acquisition Discontinued 5/1/2014
Valley Bank Seller 233,232 Acquisition Discontinued 7/15/2013
Central Valley Bank Seller 178,937 Pooling of Interests Discontinued 6/20/2013
Northwest Commercial Bank Seller 69,363 Acquisition Discontinued 1/10/2013
Pierce Commercial Bank Seller 221,082 Failure 11/6/2010
The Cowlitz Bank Seller 489,019 Failure 7/31/2010
Washington State Bank, National Association Seller 54,960 Acquisition Discontinued 6/1/2006
North Pacific Bank Seller 86,130 Pooling of Interests Discontinued 11/21/1998
Relationships Role Relationship Start Relationship End
Heritage Financial Corporation Parent 1/9/1998
Heritage Financial Corporation Parent 3/31/1997 1/8/1998
Heritage Financial Corporation Parent 9/30/1996 3/30/1997
Heritage Financial Corporation Parent 2/1/1994 9/29/1996
Heritage Investment Services, Inc. Subsidary 6/30/2007
North Pacific Financial Services Subsidary 6/30/2007 8/31/2007
North Pacific Financial Services Subsidary 11/21/1998 6/29/2007
Heritage Investment Services, Inc. Subsidary 2/1/1994 6/29/2007
Heritage Capital Corporation Subsidary 2/1/1994 9/21/1995
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