HERITAGE FINANCIAL CORP WA
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
HFWA$28.39-0.9%Stored close · as of Nov 10, 2026
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GLOSSARY OF ACRONYMS, ABBREVIATIONS AND TERMS
The acronyms, abbreviations, and terms listed below are used in various sections of this Annual Report on Form 10-K. As used throughout this report, the terms “we,” “our,” or “us” refer to Heritage Financial Corporation and its consolidated subsidiaries, unless the context otherwise requires.
| ACL | Allowance for credit losses |
|---|---|
| AOCI | Accumulated other comprehensive income (loss), net |
| ASC | Accounting Standards Codification |
| ASU | Accounting Standards Update |
| Bank | Heritage Bank |
| BOLI | Bank owned life insurance |
| BTFP | Bank Term Funding Program |
| CECL | Current Expected Credit Loss |
| CMO | Collateralized Mortgage Obligation |
| Company | Heritage Financial Corporation |
| CRE | Commercial real estate |
| DEI | Diversity, Equity, and Inclusion |
| DFI | Division of Banks of the Washington State Department of Financial Institutions |
| Economic Growth Act | Economic Growth, Regulatory Relief and Consumer Protection Act |
| Equity Plan | Heritage Financial Corporation 2023 Omnibus Equity Plan |
| Exchange Act | Securities Exchange Act of 1934, as amended |
| FASB | Financial Accounting Standards Board |
| FDIC | Federal Deposit Insurance Corporation |
| Federal Reserve | Board of Governors of the Federal Reserve System |
| FRB | Federal Reserve Bank of San Francisco |
| FHLB | Federal Home Loan Bank of Des Moines |
| FOMC | Federal Open Market Committee within the Federal Reserve System |
| GAAP | U.S. Generally Accepted Accounting Principles |
| LIBOR | London Interbank Offering Rate |
| LIHTC | Low-Income Housing Tax Credit |
| NMTC | New Market Tax Credit |
| MBS | Mortgage-backed security |
| OCC | Office of the Comptroller of the Currency |
| PCD | Purchased Credit Deteriorated; loans purchased with evidence of credit deterioration since origination for which it is probable that not all contractually required payments will be collected; accounted for under FASB ASC 326 |
| Plan | Heritage Financial Corporation 401(k) Profit Sharing Plan and Trust |
| Proxy Statement | Definitive proxy statement for the annual meeting of shareholders to be held on May 6, 2024 |
| Related Party | Certain directors, executive officers and their affiliates |
| ROU | Right-of-Use |
| SBA | Small Business Administration |
| SEC | Securities and Exchange Commission |
| SM | Special Mention |
| SOFR | Secured Overnight Financing Rate |
| SS | Substandard |
| TDR | Troubled debt restructured |
| Unfunded Commitments | Off-balance sheet credit exposures such as loan commitments, standby letters of credit, financial guarantees, and other similar instruments |
| USDA | United States Department of Agriculture |
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