Heritage Financial Declares $0.24 Quarterly Dividend

Heritage Financial Corporation (NASDAQ: HFWA), the parent company of Heritage Bank, declared a regular quarterly cash dividend of $0.24 per common share on April 22, 2026. The announcement came alongside the company's first quarter 2026 earnings release. Read more dividend announcements.

The dividend will be paid on May 20, 2026 to shareholders of record at the close of business on May 6, 2026.

First Quarter Performance

Heritage Financial reported net income of $18.9 million, or $0.48 per diluted share, for the first quarter of 2026. That compares to $22.2 million, or $0.65 per diluted share, in the fourth quarter of 2025.

Excluding merger-related costs, adjusted diluted earnings per share were $0.59 for the first quarter, down from $0.66 in the prior quarter.

The company's net interest margin expanded to 3.96% in the first quarter, up 24 basis points from 3.72% in the fourth quarter of 2025. The yield on loans increased to 5.73%, a 19 basis point increase from 5.54% in the prior quarter, while the cost of interest-bearing deposits decreased to 1.71% from 1.83%.

Olympic Bancorp Acquisition

Heritage Financial completed its acquisition of Olympic Bancorp on January 31, 2026. The transaction strengthened the company's market position in the Puget Sound region. Management expects to complete the system conversion by the end of the third quarter of 2026, at which point additional cost savings will be realized.

Heritage Financial is an Olympia, Washington-based bank holding company with a network of branches and loan production offices across Washington, Oregon, and Idaho. The company operates under multiple brand names, including Heritage Bank, Whidbey Island Bank, and Kitsap Bank.