HERITAGE FINANCIAL CORP /WA/
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 27, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
FINANCIAL CONDITION OVERVIEW
The table below provides a comparison of changes in key components of the Company's financial condition for the periods indicated:
| December 31, · Change | ||||
|---|---|---|---|---|
| 2025 | 2024 | $ | % | |
| (Dollars in thousands) | ||||
| Assets | ||||
| Cash and cash equivalents | $233,089 | $117,100 | $115,989 | 99.1% |
| Investment securities available for sale, at fair value, net | 607,522 | 764,394 | (156,872) | (20.5) |
| Investment securities held to maturity, at amortized cost, net | 674,107 | 703,285 | (29,178) | (4.1) |
| Loans receivable, net | 4,730,682 | 4,749,655 | (18,973) | (0.4) |
| December 31, · Change | ||||
|---|---|---|---|---|
| 2025 | 2024 | $ | % | |
| Premises and equipment, net | 74,690 | 71,580 | 3,110 | 4.3 |
| Federal Home Loan Bank stock, at cost | 5,163 | 21,538 | (16,375) | (76.0) |
| Bank owned life insurance | 105,974 | 111,699 | (5,725) | (5.1) |
| Accrued interest receivable | 19,280 | 19,483 | (203) | (1.0) |
| Prepaid expenses and other assets | 273,925 | 303,452 | (29,527) | (9.7) |
| Other intangible assets, net | 1,979 | 3,153 | (1,174) | (37.2) |
| Goodwill | 240,939 | 240,939 | — | — |
| Total assets | $6,967,350 | $7,106,278 | $(138,928) | (2.0)% |
| Liabilities and Stockholders' Equity | ||||
| Total deposits | 5,920,199 | 5,684,613 | $235,586 | 4.1 |
| Borrowings | 20,000 | 383,000 | (363,000) | (94.8) |
| Junior subordinated debentures | 22,350 | 22,058 | 292 | 1.3 |
| Accrued expenses and other liabilities | 83,297 | 153,080 | (69,783) | (45.6) |
| Total liabilities | 6,045,846 | 6,242,751 | (196,905) | (3.2) |
| Common stock | 531,100 | 531,674 | (574) | (0.1) |
| Retained earnings | 421,619 | 387,097 | 34,522 | 8.9 |
| Accumulated other comprehensive loss, net | (31,215) | (55,244) | 24,029 | (43.5) |
| Total stockholders' equity | 921,504 | 863,527 | 57,977 | 6.7 |
| Total liabilities and stockholders' equity | $6,967,350 | $7,106,278 | $(138,928) | (2.0)% |
Total assets decreased due primarily to decreases in investment securities offset partially by an increase in cash and cash equivalents. Total liabilities decreased due primarily to a decrease in borrowings and accrued expenses and other liabilities offset partially by an increase in deposits. Total stockholders' equity increased due primarily to net income as well as a decrease in accumulated other comprehensive loss, which was positively impacted by the fair value of our investment securities available for sale as well as the sale of securities at a loss. The changes are discussed in more detail in the sections below.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.