Heritage Financial Q4 net income drops to $6.2M ($0.18) from $18.2M; dividend raised 4.5% to $0.23

HERITAGE FINANCIAL CORP /WA/

2023-FY EPS reported $1.75

Net income of $6.2M ($0.18 diluted EPS) vs $18.2M ($0.51) in Q3 2023; includes $10.0M securities loss ($0.22/share) and $2.0M expense management costs.
Book value per share rose to $24.44 from $23.31; tangible book value per share increased to $17.40 from $16.25.
Loans receivable grew $68.8M (1.6%) in Q4; net interest margin was 3.41% vs 3.47% in Q3.
Cost of total deposits increased to 1.01% from 0.83%; capital remains strong with leverage ratio 10.0%.
Declared regular cash dividend of $0.23 per share, payable Feb 22, 2024 to shareholders of record Feb 8, 2024.

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 quarter ended December 31, 2023 results: net income $6.2 million, EPS $0.18 per diluted share.

Period: the quarter ended December 31, 2023
Net income: $6.2 million
EPS: $0.18 per diluted share
Result: reported results

Exact text from the filing

Net income was $6.2 million, or $0.18 per diluted share, for the fourth quarter of 2023 compared to $18.2 million, or $0.51 per diluted share, for the third quarter of 2023.

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Source: SEC EDGAR

accession 0001046025-24-000002

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