Heritage Financial Q1 EPS $0.58 (down from $0.64 Q4), NIM 3.91%, declares $0.22 dividend

HERITAGE FINANCIAL CORP /WA/

2023-Q1 EPS reported $0.58

Net income $20.5M ($0.58 diluted EPS) vs $22.5M ($0.64) in Q4 2022 and $19.8M ($0.56) in Q1 2022.
Loans increased $76.6M (1.9%, 7.7% annualized) vs Q4; loan-to-deposit ratio 71.3%.
Net interest margin 3.91% vs 3.98% Q4 and 2.84% Q1 2022; cost of deposits rose to 0.31% from 0.16%.
Nonperforming assets to total assets fell to 0.07% from 0.08% Q4; leverage ratio 9.9%, total capital 14.1%.
Declared $0.22 per share quarterly cash dividend, payable May 18, record May 4.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HERITAGE FINANCIAL CORP /WA/ reported the first quarter ended March 31, 2023 results: net income $20.5 million, EPS $0.58 per diluted share.

Period: the first quarter ended March 31, 2023
Net income: $20.5 million
EPS: $0.58 per diluted share
Result: reported results

Exact text from the filing

Net income was $20.5 million, or $0.58 per diluted share, for the first quarter of 2023

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Source: SEC EDGAR

accession 0001046025-23-000084

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