---
schema_version: "secwatch.filing_event.v1"
accession: "0001046025-24-000152"
form_type: "8-K"
ticker: "HFWA"
cik: "0001046025"
company_name: "HERITAGE FINANCIAL CORP /WA/"
filed_at: "2024-07-01T23:59:59+00:00"
generated_at: "2026-05-31T23:54:17.363651+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Heritage Financial announces CEO succession: Bryan McDonald to lead bank; Jeff Deuel stays CEO until May 2025

## Summary
- Bryan McDonald named President and CEO of Heritage Bank effective July 1, 2024; continues as President of Heritage Financial.
- Jeffrey Deuel remains CEO of Heritage Financial until May 6, 2025, then transitions to advisory role through March 31, 2027.
- McDonald's new employment agreement: base salary $535,000, target bonus 45%, equity target 50% of salary.
- Deuel's transition agreement: base salary $711,113 until May 2025, then part-time $20k/mo for 12 months, then $10k/mo.
- Succession designed for smooth transition; Deuel has 42-year career, McDonald has 30+ years.

## SEC filing metadata
- accession: 0001046025-24-000152
- form_type: 8-K
- ticker: HFWA
- cik: 0001046025
- company_name: HERITAGE FINANCIAL CORP /WA/
- filed_at: 2024-07-01T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1046025/000104602524000152/0001046025-24-000152-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1046025/000104602524000152/hfwa-20240701.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001046025-24-000152
- JSON: https://secwatch.observer/filing/0001046025-24-000152.json
- Plain text: https://secwatch.observer/filing/0001046025-24-000152.txt

## Key facts
- Executive change
  Jeffrey J. Deuel changed role as CEO of Heritage at HERITAGE FINANCIAL CORP /WA/.
  - Action: will transition to non-officer employee
  - Role: CEO of Heritage
  source text: Jeffrey J. Deuel, who has served as CEO of Heritage Bank since 2018 and CEO of Heritage since 2019, will remain CEO of Heritage until May 2025, at which time he will be become a non-officer employee of Heritage.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1046025/000104602524000152/0001046025-24-000152-index.htm
- Executive change
  Bryan D. McDonald was appointed as President of Heritage and CEO of Heritage Bank at HERITAGE FINANCIAL CORP /WA/.
  - Action: appointed
  - Role: President of Heritage and CEO of Heritage Bank
  source text: Bryan D. McDonald, age 52, who has held the position of Chief Operating Officer of Heritage Bank since 2018, will succeed Mr. Deuel as President of Heritage and CEO of Heritage Bank effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1046025/000104602524000152/0001046025-24-000152-index.htm

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