Heritage Financial names Bryan McDonald President and CEO, Deuel retires

HERITAGE FINANCIAL CORP /WA/

CEO Jeffrey Deuel retired May 6, 2025; Bryan McDonald named President and CEO and appointed to Board.
McDonald previously served as President/COO of Heritage Bank since 2021, joined via Whidbey Island merger in 2014.
Employment agreement: base salary $650k, target bonus 50%, severance 150% (non-CIC) or 250% (CIC) of base plus avg bonus.
Annual meeting results: all 9 directors re-elected, say-on-pay passed, Crowe LLP ratified as auditor for 2025.
Deuel will remain as non-officer employee in advisory role through March 2027.

item 5.02 item 5.07 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Bryan D. McDonald

Director

HFWA · HERITAGE FINANCIAL CORP /WA/

Effective: 2025-05-06
Filed: May 6, 2025, 7:59 PM ET

the Board of Directors ("Board") of Heritage, upon the recommendation of the Governance and Nominating Committee of the Board, approved the appointment of Mr. McDonald to the Board, effective May 6, 2025.

Departed

Jeffrey J. Deuel

Chief Executive Officer

HFWA · HERITAGE FINANCIAL CORP /WA/

Effective: 2025-05-06
Successor: Bryan D. McDonald
Filed: May 6, 2025, 7:59 PM ET

Jeffrey J. Deuel, who had held the title of CEO of Heritage since 2019, retired from his role as CEO effective May 6, 2025

Role change

Bryan D. McDonald

President and Chief Executive Officer

HFWA · HERITAGE FINANCIAL CORP /WA/

Effective: 2025-05-06
Filed: May 6, 2025, 7:59 PM ET

Bryan D. McDonald, age 53, who has held the title of President of Heritage and President and CEO of Heritage Bank since July 1, 2024, succeeded Mr. Deuel as President and CEO of Heritage and its wholly-owned banking subsidiary, Heritage Bank, effective May 6, 2025.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Bryan D. McDonald was appointed as Director at HERITAGE FINANCIAL CORP /WA/.

Action: appointed
Role: Director

Exact text from the filing

the Board of Directors ("Board") of Heritage, upon the recommendation of the Governance and Nominating Committee of the Board, approved the appointment of Mr. McDonald to the Board, effective May 6, 2025.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Jeffrey J. Deuel retired as Chief Executive Officer at HERITAGE FINANCIAL CORP /WA/.

Action: retired
Role: Chief Executive Officer

Exact text from the filing

Jeffrey J. Deuel, who had held the title of CEO of Heritage since 2019, retired from his role as CEO effective May 6, 2025

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Bryan D. McDonald changed role as President and Chief Executive Officer at HERITAGE FINANCIAL CORP /WA/.

Action: succeeded
Role: President and Chief Executive Officer

Exact text from the filing

Bryan D. McDonald, age 53, who has held the title of President of Heritage and President and CEO of Heritage Bank since July 1, 2024, succeeded Mr. Deuel as President and CEO of Heritage and its wholly-owned banking subsidiary, Heritage Bank, effective May 6, 2025.

View on SEC.gov

HERITAGE FINANCIAL CORP /WA/ filing history →

Source: SEC EDGAR

accession 0001046025-25-000106

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