Heritage Financial reports Q4 EPS 34c, consensus 44c

Reports Q4 net interest margin up 3.39%, from 3.33% for the third quarter of 2024. Tangible book value per share was $18.22 from $18.45 at previous quarter end. Tier 1 capital ratio was 12.4% vs. 12.7% in the previous quarter. CEO Jeff Deuel commented, “We are very pleased with our operating results for Q4, which included strong loan growth, margin expansion and lower cost of deposits. In addition to an increase in net interest margin, we also saw an increase in net interest income for the second consecutive quarter. We continue to strategically reposition our balance sheet to improve future profitability. Although these actions reduce reported earnings, we are seeing the benefits to our core earnings and we are optimistic that the combination of our strong balance sheet and prudent risk management will provide sustainable long-term returns for our shareholders.”