Heritage Financial Q3 adjusted EPS declines
HFWA•Heritage Financial reported Q3 adjusted EPS of $0.46 as net income fell year over year to $18.72 million. The company authorized a stock buyback of up to 5% of shares outstanding.
HFWA•HFWA•HFWA•Heritage Financial reported Q3 adjusted EPS of $0.46 as net income fell year over year to $18.72 million. The company authorized a stock buyback of up to 5% of shares outstanding.
Heritage Financial’s Q3 net income fell from a year earlier, while adjusted EPS declined year over year to $0.46. Net income was $18.72 million and net interest margin was 4.05%.
Net interest income rose $2.4 million, or 3.3%, from the prior quarter. Loans receivable increased $133.5 million and deposits rose $148.2 million, while the company recognized $5.2 million in merger-related costs tied to core conversion and branch closures following the Olympic Bancorp acquisition. Heritage Financial authorized a buyback of up to 5% of shares outstanding and provided no specific guidance for future quarters or full-year results.
