Heritage Financial Corporation (HFWA) financial statements (2022 and earlier)

Company profile

Business Address 201 FIFTH AVENUE S.W.
OLYMPIA, WA 98501
State of Incorp. WA
Fiscal Year End December 31
SIC 6036 - Savings Institutions, Not Federally Chartered (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,723743229162103104127
Cash and cash equivalents1,723743229162103104127
Total current assets:1,723743229162103104127
Noncurrent Assets
Operating lease, right-of-use asset2818 
Property, plant and equipment79858881606462
Intangible assets, net (including goodwill)251254258262125126128
Goodwill241241241241119119119
Intangible assets, net (excluding goodwill)10131721679
Total noncurrent assets:358357345343185190190
Other undisclosed assets5,3515,5154,9794,8123,8253,5853,334
TOTAL ASSETS:7,4326,6155,5535,3174,1133,8793,651
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt51362031322223
Total current liabilities:51362031322223
Noncurrent Liabilities
Liabilities, other than long-term debt425451324018 
Qualified affordable housing project investments, commitment425451324018 
Total noncurrent liabilities:425451324018 
Other undisclosed liabilities6,4865,7054,6734,4933,5333,3573,158
Total liabilities:6,5785,7954,7444,5563,6053,3973,181
Stockholders' equity
Stockholders' equity attributable to parent854820809761508482470
Common stock552571586592361359359
Accumulated other comprehensive income (loss)92510(7)(1)(3)3
Retained earnings293224212176149125108
Total stockholders' equity:854820809761508482470
TOTAL LIABILITIES AND EQUITY:7,4326,6155,5535,3174,1133,8793,651

Income statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues217221221202174161159
Net investment income213214218199148139136
Cost of revenue(27)(36)(4)(5)(4)(5)(4)
Provision for loan, lease, and other losses(27)(36)(4) 
Financial services costs(5)(4)(5)(4)
Gross profit:189185216197169156154
Operating expenses(43)(45)(43)(133)(97)(92)(90)
Operating income:14614017364736464
Nonoperating income
(Bank Owned Life Insurance Income)
34     
Interest and debt expense(7)(13)(18)(12)(8)(6)(6)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes (78)(74)13(4)(5)(7)
Income from continuing operations before equity method investments, income taxes:141538164605351
Other undisclosed loss from continuing operations before income taxes(21)      
Income from continuing operations before income taxes:121538164605351
Income tax expense(22)(7)(13)(11)(18)(14)(14)
Net income available to common stockholders, diluted:98476853423937

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:98476853423937
Other comprehensive income      0
Comprehensive income:98476853423938
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(16)1518(6)2(5)(1)
Comprehensive income, net of tax, attributable to parent:82618547433437

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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