Heritage Financial Corp (NAS:HFWA)

Q4 2024 Heritage Financial Corp Earnings Call Transcript

Jan 23, 2025 / 06:00 PM GMT

Release Date Price: $24.85 (+1.02%)

Transcript 8-K

Key Points

Positve

Heritage Financial Corp (HFWA) reported strong loan growth in Q4, with loan balances increasing by $123 million.
The company achieved a net interest margin increase to 3.39% in Q4 from 3.33% in the prior quarter.
Credit quality remains strong and stable, with non-accrual loans totaling just over $4 million, representing 0.08% of total loans.
The company executed strategic repositioning of its balance sheet, resulting in an estimated annualized pre-tax income improvement of approximately $1.4 million.
Heritage Financial Corp (HFWA) maintained strong capital ratios, allowing for active stock buybacks and investment repositioning.

Negative

Total deposits decreased by $24 million in Q4, primarily due to a $25 million reduction in brokered CDs.
The company recognized a pre-tax loss of $3.9 million on the sale of $36 million of securities as part of its strategic repositioning.
Non-interest expense increased by $250,000 from the prior quarter due to marketing and professional services expenses.
The provision for credit losses was $1.2 million during the quarter, primarily due to loan growth.
The TCE ratio slightly decreased to 9.0% from 9.1% in the prior quarter.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

HFWA.OQ - Heritage Financial Corp
Q4 2024 Heritage Financial Corp Earnings Call
Jan 23, 2025 / 06:00PM GMT

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified_1 [1]
--------------------------------------------------------------------------------
Hello, everyone and a warm welcome to the Heritage Financial Q4 and year end earnings call. My name is Emily and I'll be coordinating your call today after the presentation, you'll have the opportunity to ask any questions which you can do so by pressing start, followed by the number one on your telephone keypad.

I will now turn the call over to Jeff Dows CEO to begin. Please go ahead.

--------------------------------------------------------------------------------
Unidentified_2 [2]
--------------------------------------------------------------------------------
Thank you Emily. Welcome and good morning to everyone who called in and those who may listen later. This is Jeff Dle CEO of Heritage

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

7-Day Free Trial · Cancel Anytime

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.