AcquisitionsAug 7, 2026, 11:53 AM
Heritage Financial Q2 2026: Olympic Acquisition Drives Growth
AI Summary
Heritage Financial Corporation reported its Q2 2026 results, significantly impacted by the completed acquisition of Olympic on January 31, 2026. The company saw a substantial increase in net income to $17.5 million, up from $12.2 million in the prior year's quarter, with diluted EPS rising to $0.42. Total assets expanded to $8.43 billion and total deposits reached $7.04 billion, reflecting the integration of Olympic's operations.
Key Highlights
- Completed acquisition of Olympic on January 31, 2026, for $185.0 million in stock.
- Net income for Q2 2026 increased to $17.5 million from $12.2 million YoY.
- Diluted EPS for Q2 2026 rose to $0.42 from $0.36 YoY.
- Total assets grew to $8.43 billion as of June 30, 2026, from $6.97 billion at Dec 31, 2025.
- Total deposits increased to $7.04 billion from $5.92 billion at Dec 31, 2025.
- Loans receivable, net, increased to $5.69 billion from $4.73 billion at Dec 31, 2025.
- Net interest income for Q2 2026 was $74.8 million, up from $55.0 million YoY.
- Reversal of provision for credit losses of $0.9 million in Q2 2026.
Price Impact
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