Heritage Financial Corp /Wa/ (NASDAQ: HFWA)

Heritage Financial Corporation is a bank holding company that plans directs and coordinates the business activities of its wholly owned subsidiary Heritage Bank. The company operates primarily through Heritage Bank which delivers commercial lending and deposit services and related financial products to customers in Washington Oregon and Idaho. Heritage Bank maintains a network of branch offices and a loan production office to serve its markets.

The company generates revenue primarily from interest income on its loan portfolio which includes commercial business loans real estate construction loans and consumer loans. Additional revenue comes from deposit service fees wealth management fees and other banking related charges.

The company operates through the following segments: Heritage Bank.

• Heritage Bank provides commercial lending including lines of credit term equipment financing and owner occupied and non owner occupied commercial real estate loans. It also originates real estate construction and land development loans consumer loans and offers deposit products wealth management services.

Heritage Financial Corporation positions itself as a leading commercial community bank in the Pacific Northwest competing with regional banks credit unions finance companies online only banks mutual funds insurance companies and fintech firms. Its competitive advantages include a strong focus on asset quality a well capitalized balance sheet deep local relationships and disciplined acquisition and branching strategies.

The company serves small and medium sized businesses and their owners as well as retail customers seeking personal banking services.