HERITAGE FINANCIAL CORP /WA/
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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FY2025 · Filed Feb 27, 2026
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NONINTEREST EXPENSE OVERVIEW
The following table presents changes in the key components of noninterest expense for the periods indicated:
| Year Ended December 31, · Change | ||||
|---|---|---|---|---|
| 2025 | 2024 | $ | % | |
| (Dollars in thousands) | ||||
| Compensation and employee benefits | $104,023 | $98,527 | $5,496 | 5.6% |
| Occupancy and equipment | 18,881 | 19,289 | (408) | (2.1) |
| Data processing | 14,998 | 14,899 | 99 | 0.7 |
| Marketing | 1,251 | 988 | 263 | 26.6 |
| Professional services | 4,258 | 2,515 | 1,743 | 69.3 |
| State/municipal business and use tax | 4,907 | 4,889 | 18 | 0.4 |
| Federal deposit insurance premium | 3,207 | 3,260 | (53) | (1.6) |
| Amortization of intangible assets | 1,174 | 1,640 | (466) | (28.4) |
| Other expense | 12,867 | 12,289 | 578 | 4.7 |
| Total noninterest expense | $165,566 | $158,296 | $7,270 | 4.6% |
Noninterest expense increased $7.3 million, or 4.6%, during the year ended December 31, 2025 compared to the same period in 2024. Compensation and employee benefits increased $5.5 million due primarily to annual merit increases in base pay, an increase in benefit costs and an increase in incentive compensation. Professional services increased $1.7 million due primarily to costs associated with the acquisition of Olympic and consulting costs related to technology-related contract renewals.
The increases were partially offset by a $466,000 reduction in the amortization of intangible assets due to the full amortization of the core deposit intangible related to a prior acquisition and a $408,000 decrease in occupancy expense due primarily to lower depreciation expense as compared to the prior year.
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