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Heritage Bank

OverviewSuggest Edit

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.
TypePublic
Founded1927
HQOlympia, USMap
Websitehf-wa.com
View Jobs (28)

Recent NewsAll News

Latest Updates

Employees (est.) (Feb 2019)867(+6%)
Job Openings28
Revenue (FY, 2018)$231 M(+27%)
Share Price (Oct 2019)$26.6

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, US (HQ)
201 5th Ave SW
Show all (1)

Heritage Bank Financials and Metrics

Heritage Bank Revenue

Heritage Bank's revenue was reported to be $231.02 m in FY, 2018
USD

Revenue (FY, 2018)

231.0m

Gross profit (FY, 2018)

218.6m

Gross profit margin (FY, 2018), %

94.6%

Net income (FY, 2018)

53.1m

EBIT (FY, 2018)

181.8m

Market capitalization (16-Oct-2019)

979.2m

Closing stock price (16-Oct-2019)

26.6

Cash (31-Dec-2018)

161.9m
Heritage Bank's current market capitalization is $979.2 m.
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Revenue

71.4m121.1m168.0m170.1m183.3m231.0m

Revenue growth, %

70%12%25%

Cost of goods sold

6.1m6.0m8.3m12.4m

Gross profit

161.9m164.1m174.9m218.6m
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, 2017FY, 2018

Cash

130.4m126.6m103.7m103.0m161.9m

Accounts Receivable

10.5m101.7m

Inventories

PP&E

34.3m61.9m63.9m60.3m81.1m
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, 2017FY, 2018

Net Income

9.6m37.5m38.9m41.8m53.1m

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

Revenue/Employee

282.1k

Financial Leverage

7 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

Heritage Bank Online and Social Media Presence

Heritage Bank's Trends

Embed Graph

Heritage Bank News and Updates

September 26, 2019

Heritage Bank welcomes Steve Gahler as Executive Vice President, Chief Marketing Officer

OLYMPIA, Wash., Sept. 26, 2019 /PRNewswire/ -- Heritage Bank, subsidiary of Heritage Financial Corporation ("Company" or "Heritage") (NASDAQ: HFWA), is pleased to announce and welcome Steve Gahler as the executive vice president, chief marketing officer in Seattle, WA. He will be serving...
January 17, 2019

Heritage Bank announces new commercial banking team in greater Portland, Oregon

OLYMPIA, Wash., Jan. 17, 2019 /PRNewswire/ -- Heritage Bank, subsidiary of Heritage Financial Corporation (Nasdaq: HFWA), is pleased to announce the addition of a new commercial banking team in the greater Portland, Oregon area. The new team includes Chris Kane, Amber Clark, Kyle Gibson,...
December 31, 2018

Santa Claus Visits Heritage Bank in Covington, La.

November 01, 2018

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

 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 867 employees.

  • What is Heritage Bank revenue?

    Latest Heritage Bank annual revenue is $231 m.

  • What is Heritage Bank revenue per employee?

    Latest Heritage Bank revenue per employee is $266.5 k.

  • Who are Heritage Bank competitors?

    Competitors of Heritage Bank include Bank Hapoalim, Xenith Bankshares and WVS Financial.

  • 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.