Heritage Bank
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Heritage Bank

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    • Financial Servicesbanksfinancial management
    Heritage Bank provides various financial services to small businesses and general public in the United States. The Company accepts various deposit products, such as noninterest demand accounts, NOW accounts, money market accounts, savings accounts, and certificates of deposit. Its loan portfolio includes commercial and industrial loans, owner-occupied and non-owner occupied commercial real estate loans, one-to-four family residential loans, real estate construction and land development loans, consumer loans, business lines of credit, term equipment financing, and term real estate loans, as well as commercial loans real estate related industries and businesses in agricultural, healthcare, legal, and other professions.
    Revenue(FY, 2017)
    $183.3 M
    Market capitalization(2018-12-04)
    $1.2 B
    Total Loans(Q2, 2017)
    $2.7 B
    TypePublic
    HQOlympia, US
    Founded1927
    Size (employees)819 (est)+8%
    Websitehf-wa.com
    Heritage Bank was founded in 1927 and is headquartered in Olympia, US
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    Key People/Management at Heritage Bank

    Brian Vance

    Brian Vance

    President and Chief Executive Officer
    Jeffrey Deuel

    Jeffrey Deuel

    EVP
    Stephen Dennis

    Stephen Dennis

    Retired Chief Executive Officer of Quadrant Homes
    Kimberly Ellwanger

    Kimberly Ellwanger

    Retired Senior Director of Corporate Affairs and Associate General Counsel, Microsoft Corporation
    Deborah Gavin

    Deborah Gavin

    Retired Vice President of Finance and Controller of the Boeing Company
    Jeffrey Lyon

    Jeffrey Lyon

    Chairman & CEO, Kidder Mathews
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    Heritage Bank Office Locations

    Heritage Bank has an office in Olympia
    Olympia, (HQ)
    201 5th Ave SW
    Show all (1)
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    Heritage Bank Financials and Metrics

    Heritage Bank Revenue

    Heritage Bank's revenue was reported to be $183.29 m in FY, 2017
    USD

    Revenue (Q2, 2018)

    		54.2m

    Gross profit (Q2, 2018)

    		51.3m

    Gross profit margin (Q2, 2018), %

    		94.6%

    Net income (Q2, 2018)

    		11.9m

    EBIT (Q2, 2018)

    		42.0m

    Market capitalization (4-Dec-2018)

    		1.2b

    Closing stock price (4-Dec-2018)

    		33.1

    Cash (30-Jun-2018)

    		129.9m

    EV

    		1.2b
    Heritage Bank's current market capitalization is $1.2 b.
    Annual
    USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

    Revenue

    		71.4m121.1m168.0m170.1m183.3m

    Revenue growth, %

    		70%12%25%

    Cost of goods sold

    		6.1m6.0m8.3m

    Gross profit

    		161.9m164.1m174.9m
    Quarterly
    USDQ2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q2, 2017Q1, 2018Q2, 2018

    Revenue

    		40.9m43.0m41.2m41.2m45.0m46.8m50.8m54.2m

    Cost of goods sold

    		1.5m1.5m1.5m1.5m1.5m1.9m2.4m2.9m

    Gross profit

    		39.4m41.5m39.8m39.7m43.5m44.8m48.4m51.3m

    Gross profit Margin, %

    		96%96%96%96%97%96%95%95%
    show all
    Annual
    USDFY, 2013FY, 2015FY, 2016FY, 2017

    Cash

    		130.4m126.6m103.7m103.0m

    Accounts Receivable

    		10.5m101.7m

    Inventories

    PP&E

    		34.3m61.9m63.9m60.3m
    Quarterly
    USDQ2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q2, 2017Q1, 2018Q2, 2018

    Cash

    		85.3m142.5m94.0m98.9m112.8m124.2m130.3m129.9m

    PP&E

    		64.0m63.4m61.2m60.8m63.3m60.6m62.1m75.4m

    Goodwill

    		119.0m119.0m119.0m119.0m119.0m119.0m187.5m187.5m

    Total Assets

    		3.5b3.6b3.7b3.8b3.8b4.0b4.7b4.8b
    show all
    Annual
    USDFY, 2013FY, 2015FY, 2016FY, 2017

    Net Income

    		9.6m37.5m38.9m41.8m

    Depreciation and Amortization

    		14.0m12.7m10.7m

    Inventories

    Accounts Payable

    Quarterly
    USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018Q2, 2018

    Net Income

    		18.5m28.0m9.1m18.0m29.0m9.1m21.1m9.1m20.9m

    Depreciation and Amortization

    		6.7m10.5m3.3m6.5m9.5m5.5m2.6m5.1m

    Cash From Operating Activities

    		18.4m33.2m13.1m24.4m40.3m44.0m9.1m29.7m

    Purchases of PP&E

    		(82.7m)(159.5m)(76.9m)(129.1m)(193.3m)(59.4m)(71.5m)(164.0m)
    show all
    USDY, 2018

    EV/EBIT

    		27.8 x

    EV/CFO

    		39.2 x

    Debt/Equity

    		0.1 x

    Financial Leverage

    		7.5 x
    Show all financial metrics

    Heritage Bank Operating Metrics

    Heritage Bank's Total Loans was reported to be $2.7b in Q2, 2017.
    FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017

    Bank Branches

    		66 67 63

    Non-accrual Loans

    		$11.57 m$9.91 m$9.67 m$12.35 m$13.86 m$11.54 m$10.91 m$10.88 m$10.97 m

    Total Loans

    		$2.22 b$2.26 b$2.32 b$2.38 b$2.37 b$2.43 b$2.50 b$2.55 b$2.61 b$2.63 b$2.72 b
    Show all operating metrics
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    Competitors

    Community Bank System
    Financial Services - Public
    First Busey
    Financial Services - Public
    Bank of the Ozarks
    Financial Services - Public
    UBS
    Financial Services - Public
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    Heritage Bank Online and Social Media Presence

    Embed Graph
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    Heritage Bank News and Updates

    November 01, 2018

    First Citizens Bank Completes Merger With Palmetto Heritage Bancshares Inc., Palmetto Heritage Bank

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    Heritage Bank Company Life and Culture

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     Heritage Bank Frequently Asked Questions

    • When was Heritage Bank founded?

      Heritage Bank was founded in 1927.

    • Who are Heritage Bank key executives?

      Heritage Bank's key executives are Brian Vance, Jeffrey Deuel and Stephen Dennis.

    • How many employees does Heritage Bank have?

      Heritage Bank has 819 employees.

    • What is Heritage Bank revenue?

      Latest Heritage Bank annual revenue is $183.3 m.

    • What is Heritage Bank revenue per employee?

      Latest Heritage Bank revenue per employee is $223.8 k.

    • Who are Heritage Bank competitors?

      Competitors of Heritage Bank include Community Bank System, First Busey and Bank of the Ozarks.

    • Where is Heritage Bank headquarters?

      Heritage Bank headquarters is located at 201 5th Ave SW, Olympia.

    • Where are Heritage Bank offices?

      Heritage Bank has an office in Olympia.

    • How many offices does Heritage Bank have?

      Heritage Bank has 1 office.