HERITAGE FINANCIAL CORP WA
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
HFWA$28.39-0.6%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Table of Contents
FORM 10-Q
September 30, 2024
TABLE OF CONTENTS
| Page | |||
|---|---|---|---|
| GLOSSARY OF ACRONYMS, ABBREVIATIONS AND TERMS | 3 | ||
| CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS | 3 | ||
| PART I. | FINANCIAL INFORMATION | 6 | |
| ITEM 1. | FINANCIAL STATEMENTS | 6 | |
| CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) AS OF SEPTEMBER 30, 2024 AND DECEMBER 31, 2023 | 6 | ||
| CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 2023 | 7 | ||
| CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 2023 | 9 | ||
| CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 2023 | 10 | ||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 2023 | 12 | ||
| NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) | 14 | ||
| NOTE 1. | DESCRIPTION OF BUSINESS, BASIS OF PRESENTATION, SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS | 14 | |
| NOTE 2. | INVESTMENT SECURITIES | 15 | |
| NOTE 3. | LOANS RECEIVABLE | 18 | |
| NOTE 4. | ALLOWANCE FOR CREDIT LOSSES ON LOANS | 28 | |
| NOTE 5. | GOODWILL AND OTHER INTANGIBLE ASSETS | 30 | |
| NOTE 6. | DERIVATIVE FINANCIAL INSTRUMENTS | 31 | |
| NOTE 7. | STOCKHOLDERS’ EQUITY | 31 | |
| NOTE 8. | FAIR VALUE MEASUREMENTS | 32 | |
| NOTE 9. | INCOME TAXES | 36 | |
| NOTE 10. | COMMITMENTS AND CONTINGENCIES | 37 | |
| ITEM 2. | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS | 37 | |
| OVERVIEW | 37 | ||
| RESULTS OF OPERATIONS | 38 | ||
| NET INCOME OVERVIEW | 38 | ||
| NET INTEREST INCOME AND MARGIN OVERVIEW | 39 | ||
| PROVISION FOR CREDIT LOSSES OVERVIEW | 42 | ||
| NONINTEREST INCOME OVERVIEW | 43 | ||
| NONINTEREST EXPENSE OVERVIEW | 44 | ||
| INCOME TAX EXPENSE OVERVIEW | 45 | ||
| FINANCIAL CONDITION OVERVIEW | 46 | ||
| INVESTMENT ACTIVITIES OVERVIEW | 46 | ||
| LOAN PORTFOLIO OVERVIEW | 47 | ||
| ALLOWANCE FOR CREDIT LOSSES ON LOANS OVERVIEW | 49 | ||
| DEPOSITS OVERVIEW | 50 | ||
| BORROWINGS OVERVIEW | 50 | ||
| STOCKHOLDERS' EQUITY OVERVIEW | 51 | ||
| REGULATORY REQUIREMENTS OVERVIEW | 51 | ||
| LIQUIDITY AND CAPITAL RESOURCES | 52 | ||
| CRITICAL ACCOUNTING ESTIMATES | 53 | ||
| ITEM 3. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK | 53 | |
| ITEM 4. | CONTROLS AND PROCEDURES | 54 | |
| PART II. | OTHER INFORMATION | 54 |
|---|---|---|
| ITEM 1. | LEGAL PROCEEDINGS | 54 |
| ITEM 1A. | RISK FACTORS | 54 |
| ITEM 2. | UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS | 54 |
| ITEM 3. | DEFAULTS UPON SENIOR SECURITIES | 55 |
| ITEM 4. | MINE SAFETY DISCLOSURES | 55 |
| ITEM 5. | OTHER INFORMATION | 55 |
| ITEM 6. | EXHIBITS | 55 |
| SIGNATURES | 56 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.