Heritage Financial Q2 net income $16.8M, EPS $0.48; net interest margin 3.56%, down from 3.91% QoQ

HERITAGE FINANCIAL CORP /WA/

2023-Q2 EPS reported $1.06

Net income $16.8M ($0.48 diluted EPS) vs Q1 $20.5M ($0.58) and Q2 2022 $18.6M ($0.52).
Net interest margin fell to 3.56% from 3.91% QoQ; cost of total deposits rose to 0.61% from 0.31%.
Total deposits decreased $193.5M (-3.3%) QoQ; loans receivable increased $123.9M (+3.0%).
Nonperforming assets remain low at 0.07% of total assets; capital ratios solid (leverage 9.9%, total capital 14.1%).
Declared regular cash dividend of $0.22 per share, payable Aug 16, 2023 to record Aug 2.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HERITAGE FINANCIAL CORP /WA/ reported second quarter of 2023 results: net income $16.8 million, EPS $0.48 per diluted share.

Period: second quarter of 2023
Net income: $16.8 million
EPS: $0.48 per diluted share
Result: reported results

Exact text from the filing

Net income was $16.8 million, or $0.48 per diluted share, for the second quarter of 2023

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Source: SEC EDGAR

accession 0001046025-23-000177

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