HERITAGE FINANCIAL CORP WA
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
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DEPOSITS
(8)Deposits
The following table summarizes the Company's deposits at the dates indicated:
| December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Amount | Amount | |
| (Dollars in thousands) | ||
| Noninterest demand deposits | $1,715,847 | $2,099,464 |
| Interest bearing demand deposits | 1,608,745 | 1,830,727 |
| Money market accounts | 1,094,351 | 1,063,243 |
| Savings accounts | 487,956 | 623,833 |
| Certificates of deposit | 692,973 | 307,573 |
| Total deposits | $5,599,872 | $5,924,840 |
Deposit accounts overdrawn and reclassified to loans receivable were $293,000 and $317,000 as of December 31, 2023 and December 31, 2022, respectively. Accrued interest payable on deposits was $250,000 and $70,000 as of December 31, 2023 and December 31, 2022, respectively and is included in "Accrued expenses and other liabilities" in the Consolidated Statements of Financial Condition.
Scheduled maturities of certificates of deposit for years after December 31, 2023 are as follows, in thousands:
| 2024 | $666,454 |
| 2025 | 12,011 |
| 2026 | 4,052 |
| 2027 | 4,588 |
| 2028 | 5,848 |
| Thereafter | 20 |
| Total | $692,973 |
Certificates of deposit issued in denominations equal to or in excess of $250,000 totaled $375.9 million and $103.7 million as of December 31, 2023 and December 31, 2022, respectively.
Deposits received from related parties as of December 31, 2023 and December 31, 2022 totaled $4.2 million and $6.8 million, respectively.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.