HERITAGE FINANCIAL CORP /WA/
For the period ended Mar 31, 2026. Filed May 8, 2026.
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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, 2026 · Filed May 8, 2026
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INCOME TAX EXPENSE OVERVIEW
Income Tax Expense
Comparison of the three months ended March 31, 2026 to the comparable period in the prior year
The following table presents the income tax expense, and related metrics and change for the periods indicated:
| Three Months EndedMarch 31, | |||
|---|---|---|---|
| 2026 | 2025 | Change | |
| (Dollars in thousands) | |||
| Income before income taxes | $22,397 | $16,159 | $6,238 |
| Income tax expense | $3,450 | $2,248 | $1,202 |
| Effective income tax rate | 15.4% | 13.9% | 1.5% |
Income tax expense and the effective income tax rate both increased due primarily to higher estimated pre-tax income, which decreased the impact of favorable permanent tax items such as tax-exempt investments, investments in BOLI and LIHTC investments during the three months ended March 31, 2026 compared to the same period in 2025.
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