OLYMPIA, Wash., March 26, 2019 /PRNewswire/ -- Heritage
Financial Corporation (Nasdaq: HFWA), ("Heritage"), parent company
of wholly-owned subsidiary Heritage Bank, is pleased to announce
that S&P Global Market Intelligence ("S&P") ranked Heritage
as the 34th best-performing U.S. community bank between
$3 and $10
billion in assets based on financial performance for the
year-ended December 31, 2018.
S&P defined community banks as top-tier U.S. banks and thrifts
with gross loans greater than 33.33% of assets, credit card loans
less than 50% of the loan portfolio and assets between $3 and $10 billion.
They further analyzed six metrics to define top-performing U.S.
community banks, which included net interest margin, return on
average tangible common equity, efficiency ratio, net charge-offs
to average loans, adjusted Texas
ratio and loan growth rate.
Brian Vance, chief executive
officer of Heritage Financial Corporation, comments, "We are
pleased with this recognition, especially in light of integrating
two acquisitions during 2018 as well as various other strategic
initiatives. We continually strive to be a top performer while
maintaining our discipline and serving our communities."
About Heritage Financial Corporation
Heritage
Financial Corporation is an Olympia-based bank holding company with
Heritage Bank, a Washington
state-chartered full-service commercial bank, as its sole
wholly-owned banking subsidiary. Heritage Bank has a network
of 63 banking offices to serve customers in Washington and Oregon. Heritage Bank also does business under
the Whidbey Island Bank name on Whidbey Island. Heritage's stock is
traded on the NASDAQ Global Select Market under the symbol "HFWA."
More information about Heritage Financial Corporation can be found
on its website at www.hf-wa.com and the Heritage Bank website
at www.HeritageBankNW.com.
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SOURCE Heritage Financial Corporation