Heritage financial corp (HFWA)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
INTEREST INCOME
Interest and fees on loans

189,515

175,466

129,213

122,147

121,687

110,437

67,630

65,588

70,114

56,054

50,567

Taxable interest on investment securities

23,045

17,602

12,688

11,215

9,578

7,328

1,918

2,195

2,912

2,661

2,295

Nontaxable interest on investment securities

3,396

4,649

5,269

4,870

4,196

2,886

1,539

1,097

821

470

244

Interest on other interest earning assets

1,894

1,689

539

280

278

455

341

229

273

337

235

Total interest income

217,850

199,406

147,709

138,512

135,739

121,106

71,428

69,109

74,120

59,522

53,341

INTEREST EXPENSE
Deposits

16,349

10,397

6,049

5,010

5,229

5,150

3,673

4,469

6,503

8,378

11,598

Junior subordinated debentures

1,339

1,263

1,014

880

827

458

0

0

-

-

-

Other borrowings

480

753

1,283

116

64

73

51

65

79

133

47

Total interest expense

18,168

12,413

8,346

6,006

6,120

5,681

3,724

4,534

6,582

8,511

11,645

Net interest income

199,682

186,993

139,363

132,506

129,619

115,425

67,704

64,575

67,538

51,011

41,696

Provision for Loan and Lease Losses

4,311

5,129

4,220

4,931

4,372

4,594

3,672

2,016

14,430

11,990

19,390

Net interest income after provision for credit losses

195,371

181,864

135,143

127,575

125,247

110,831

64,032

62,559

53,108

39,021

22,306

NONINTEREST INCOME
Service charges and other fees

18,712

18,914

18,004

14,354

14,179

11,143

5,936

5,516

5,419

4,811

4,191

Gain on sale of investment securities, net

330

137

6

1,315

1,516

287

0

0

-

-

-

Bargain purchase gain on bank acquisition

-

-

-

-

-

-

399

0

0

-

-

Gain on bank acquisitions, net

-

-

-

-

-

-

-

-

-

11,830

-

Merchant Visa income, net

-

-

-

-

-

-

862

685

556

515

3,008

Change in FDIC indemnification asset

-

-

-

-

-

-

-181

-1,033

-2,250

50

-

Gain on sale of loans, net

2,424

2,759

7,696

6,994

4,683

1,518

142

295

-

-

422

Gain on termination of FDIC shared-loss agreements

-

-

-

-

1,747

0

0

-

-

-

-

Gain on sale of Merchant Visa portfolio

-

-

-

-

2,198

0

0

-

-

-

-

Interest rate swap fees

1,232

564

1,045

1,854

452

0

-

-

-

-

-

Other income

9,764

9,244

8,828

7,102

7,493

3,519

2,493

1,809

2,021

1,573

867

Total noninterest income

32,462

31,618

35,579

31,619

32,268

16,467

9,651

7,272

5,746

18,779

8,488

NONINTEREST EXPENSE
Impairment loss on investment securities

-

-

-

-

-

-

-

-

118

318

1,330

Less: Portion recorded as other comprehensive loss

-

-

-

-

-

-

-

-

-20

-20

-830

Impairment loss on investment securities, net

-

-

-

-

-

45

38

78

98

298

500

Compensation and employee benefits

87,568

86,830

64,268

61,405

58,134

52,634

31,612

29,020

27,109

19,910

14,259

Occupancy and equipment

21,690

19,779

15,396

15,763

15,846

13,406

9,724

7,365

7,127

5,326

3,928

Data processing

8,976

9,888

8,176

7,312

7,700

9,243

4,806

2,555

2,628

2,233

1,681

Marketing

3,481

3,228

2,943

2,835

3,066

2,502

1,598

1,517

1,361

1,171

990

Merchant Visa

-

-

-

-

-

-

-

-

-

-

2,500

Professional services

5,192

9,670

4,777

3,606

3,536

6,185

3,936

2,543

2,062

2,139

823

State/municipal business and use taxes

3,754

3,002

2,461

2,616

2,378

1,976

1,150

1,226

1,336

968

967

Federal deposit insurance premium

725

1,480

1,435

1,620

2,046

1,718

1,001

1,002

1,558

1,656

1,616

Other real estate owned, net

-352

-106

70

-334

-1,007

638

309

316

921

269

162

Amortization of intangible assets

4,001

3,819

1,286

1,415

2,100

1,920

543

427

-

-

-

Other expense

11,049

11,385

9,903

9,567

10,395

9,112

4,798

4,343

5,503

4,041

3,290

Total noninterest expense

146,788

149,187

110,575

106,473

106,208

99,379

59,515

50,392

49,703

38,011

30,716

Income before income taxes

81,045

64,295

60,147

52,721

51,307

27,919

14,168

19,439

9,151

19,789

78

Income tax expense

13,488

11,238

18,356

13,803

13,818

6,905

4,593

6,178

2,633

6,435

-503

Net Income (Loss) Attributable to Parent

67,557

53,057

41,791

38,918

37,489

21,014

9,575

13,261

6,518

13,354

581

Dividends accrued and discount accreted on preferred shares

-

-

-

-

-

-

-

-

-

1,686

1,320

Net income applicable to common shareholders

-

-

-

-

-

-

-

-

-

11,668

-739

Basic earnings per common share (in usd per share)

1.84

1.49

1.39

1.30

1.25

0.00

0.01

0.87

0.42

1.05

-0.10

Basic weighted average common shares outstanding

-

-

-

-

-

-

-

-

-

11,121

7,831

Diluted earnings per common share (in usd per share)

1.83

1.49

1.39

1.30

1.25

0.00

0.01

0.87

0.42

1.04

-0.10

Common Stock, Dividends, Per Share, Declared

0.84

0.72

0.61

0.72

0.53

0.50

0.42

0.80

0.38

-

-

Diluted weighted average common shares outstanding

-

-

-

-

-

-

-

-

-

11,173

7,831