Heritage Financial Corp. Exceeds Earnings Expectations in Q4
OLYMPIA, Wash., March 9, 2023 – Heritage Financial Corp. (HFWA) reported strong financial results for the fourth quarter, surpassing Wall Street estimates.
Key Financials:
* Earnings: $11.9 million or 34 cents per share
* Adjusted Earnings: 51 cents per share
* Adjusted Revenue: $61 million
* Revenue: $82.3 million
Analyst Expectations:
* Earnings: 46 cents per share
* Adjusted Revenue: $60.5 million
Full-Year Results:
* Profit: $43.3 million or $1.24 per share
* Revenue: $239.6 million
The company attributed its strong performance to continued growth in its loan portfolio and disciplined expense management.
"We are pleased with our solid fourth-quarter results, which exceeded expectations," said Steven Delany, HFWA's President and CEO. "Our focus on customer service and prudent lending practices continue to drive our success."
Heritage Financial Corp. is a bank holding company headquartered in Olympia, Washington. It provides a range of financial services to individuals and businesses throughout the Pacific Northwest.