Heritage Financial Q1 net income $19.8M, EPS $0.56; dividend $0.21

HERITAGE FINANCIAL CORP /WA/

2022-Q1 EPS reported $0.56

Net income $19.8M vs $19.4M Q4'21 and $25.3M Q1'21; diluted EPS $0.56 vs $0.55 and $0.70.
Loans grew $5.5M (0.1%); excluding PPP repayments of $80.9M, loans grew $86.4M (2.4%).
Provision for credit losses reversal of $3.6M, down from $5.0M Q4'21 and $7.2M Q1'21.
Nonperforming assets ratio improved to 0.22% from 0.32% Q4'21 and 0.75% Q1'21.
Declared regular cash dividend $0.21/share, payable May 18 to record May 4.

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