HERITAGE FINANCIAL CORP /WA/
For the period ended Mar 31, 2025. Filed May 6, 2025.
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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.
Mar 31, 2025 · Filed May 6, 2025
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DEPOSITS OVERVIEW
Deposits
The following table summarizes the Company's deposits at the dates indicated:
| March 31, 2025 · December 31, 2024 · Change | ||||||
|---|---|---|---|---|---|---|
| Balance | % of Total Deposits | Balance | % of Total Deposits | $ | % | |
| (Dollars in thousands) | ||||||
| Noninterest demand deposits | $1,621,890 | 27.7% | $1,654,955 | 29.1% | $(33,065) | (2.0)% |
| Interest bearing demand deposits | 1,525,522 | 26.1 | 1,464,129 | 25.8 | 61,393 | 4.2 |
| Money market accounts | 1,281,891 | 21.9 | 1,166,901 | 20.5 | 114,990 | 9.9 |
| Savings accounts | 430,749 | 7.4 | 421,377 | 7.4 | 9,372 | 2.2 |
| Total non-maturity deposits | 4,860,052 | 83.1 | 4,707,362 | 82.8 | 152,690 | 3.2 |
| Certificates of deposit | 985,283 | 16.9 | 977,251 | 17.2 | 8,032 | 0.8 |
| Total deposits | $5,845,335 | 100.0% | $5,684,613 | 100.0% | $160,722 | 2.8% |
Total deposits increased $160.7 million, or 2.8%, to $5.85 billion at March 31, 2025 from $5.68 billion at December 31, 2024. Non-maturity deposits increased by $152.7 million, or 3.2%, from December 31, 2024 due primarily to new accounts opened during the quarter and transfers of funds into existing accounts. Certificates of deposit increased $8.0 million, or 0.8%, to $985.3 million at March 31, 2025 from $977.3 million at December 31, 2024, primarily due to new accounts opened during the quarter.
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