---
schema_version: "secwatch.filing_event.v1"
accession: "0001046025-23-000084"
form_type: "8-K"
ticker: "HFWA"
cik: "0001046025"
company_name: "HERITAGE FINANCIAL CORP /WA/"
filed_at: "2023-04-20T23:59:59+00:00"
generated_at: "2026-06-16T22:07:28.039389+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001046025-23-000084
- form_type: 8-K
- ticker: HFWA
- cik: 0001046025
- company_name: HERITAGE FINANCIAL CORP /WA/
- filed_at: 2023-04-20T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1046025/000104602523000084/0001046025-23-000084-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1046025/000104602523000084/hfwa-20230420.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001046025-23-000084
- JSON: https://secwatch.observer/filing/0001046025-23-000084.json
- Plain text: https://secwatch.observer/filing/0001046025-23-000084.txt

## Key facts
- Earnings Releases
  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
  source text: Net income was $20.5 million, or $0.58 per diluted share, for the first quarter of 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1046025/000104602523000084/0001046025-23-000084-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.