HERITAGE FINANCIAL CORP /WA/
For the period ended Sep 30, 2026. Filed Nov 6, 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.
Sep 30, 2026 · Filed Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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FINANCIAL CONDITION OVERVIEW
Financial Condition
The following table provides a comparison of the changes in the Company's financial condition at the periods indicated:
| September 30,2026 · December 31,2025 · Change | ||||
|---|---|---|---|---|
| $ · % | ||||
| (Dollars in thousands) | ||||
| Assets | ||||
| Cash and cash equivalents | $187,067 | $233,089 | $(46,022) | (19.7)% |
| Investment securities available for sale, at fair value, net | 947,636 | 607,522 | 340,114 | 56.0 |
| Investment securities held to maturity, at amortized cost, net | 653,823 | 674,107 | (20,284) | (3.0) |
| Loans receivable, net | 5,819,858 | 4,730,682 | 1,089,176 | 23.0 |
| September 30,2026 · December 31,2025 · Change | ||||
|---|---|---|---|---|
| $ · % | ||||
| Other real estate owned | — | — | — | — |
| Premises and equipment, net | 98,295 | 74,690 | 23,605 | 31.6 |
| Federal Home Loan Bank stock, at cost | 10,657 | 5,163 | 5,494 | 106.4 |
| Bank owned life insurance | 147,600 | 105,974 | 41,626 | 39.3 |
| Accrued interest receivable | 24,290 | 19,280 | 5,010 | 26.0 |
| Prepaid expenses and other assets | 305,351 | 273,925 | 31,426 | 11.5 |
| Other intangible assets, net | 44,328 | 1,979 | 42,349 | 2,139.9 |
| Goodwill | 279,029 | 240,939 | 38,090 | 15.8 |
| Total assets | $8,517,934 | $6,967,350 | $1,550,584 | 22.3% |
| Liabilities and Stockholders' Equity | ||||
| Total deposits | $7,186,934 | $5,920,199 | $1,266,735 | 21.4% |
| Borrowings | 121,900 | 20,000 | 101,900 | 509.5 |
| Junior subordinated debentures | 22,570 | 22,350 | 220 | 1.0 |
| Accrued expenses and other liabilities | 102,709 | 83,297 | 19,412 | 23.3 |
| Total liabilities | 7,434,113 | 6,045,846 | 1,388,267 | 23.0 |
| Common stock | 698,915 | 531,100 | 167,815 | 31.6 |
| Retained earnings | 448,178 | 421,619 | 26,559 | 6.3 |
| Accumulated other comprehensive loss, net | (63,272) | (31,215) | (32,057) | (102.7) |
| Total stockholders' equity | 1,083,821 | 921,504 | 162,317 | 17.6 |
| Total liabilities and stockholders' equity | $8,517,934 | $6,967,350 | $1,550,584 | 22.3% |
Total assets increased during the nine months ended September 30, 2026 primarily as a result of the Merger. Assets acquired, including goodwill, totaled $1.59 billion at the Merger closing date of January 31, 2026. Total liabilities and stockholders' equity also increased primarily as a result of the Merger. Total deposits acquired were $1.39 billion, and total common stock issued in the Merger was $185.0 million.
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