OLYMPIA, Wash., March 12, 2020 /PRNewswire/ -- Heritage
Financial Corporation ("Company") (Nasdaq: HFWA), announced
that its Board of Directors has authorized the repurchase of up to
5% of the Company's outstanding shares or approximately 1.8 million
shares. The number, timing and price of shares repurchased will
depend on business and market conditions, and other factors,
including opportunities to deploy the Company's capital. The
repurchase program may be discontinued at any time.
The new stock repurchase program follows the previous stock
repurchase program approved in 2014, which allowed for the buyback
of approximately 1.5 million shares. Under the previous
program, 1,512,600 shares were repurchased.
As of December 31, 2020, the
Company had consolidated total assets of $5.6 billion and shareholder's equity of
$809.3 million with tangible common
equity to tangible assets at 10.4%.
About Heritage Financial
Heritage Financial
Corporation is an Olympia-based
bank holding company with Heritage Bank, a full-service commercial
bank, as its sole wholly-owned banking subsidiary. Heritage Bank
has a branching network of 62 banking offices 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 more information
about Heritage Bank can be found on its website at
www.heritagebanknw.com.
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SOURCE Heritage Financial Corporation