Olympia, WA · Cert 29012 · Heritage Financial Corp.
State charter, non-member · FDIC · 67 branches
Q2 2026
Board Package
Performance Trends and Peer Comparison
Quarter: Q2 2026, the quarter ended June 30, 2026, on both parts.
Income statement: year to date as filed, annualized, on both parts.
Balance sheet: as filed at quarter end.
Banks $1B-$10B in assets (n=322 to 328). Each measure ranks only the institutions that reported it, so n varies by measure.
Peer groups below the disclosure floor are suppressed.
Capital
53
Asset Quality
69
Profitability
35
Liquidity
73
Efficiency
18
Growth
No peer data yet
Capital, Asset Quality, Profitability, Efficiency: higher is always a stronger peer standing (▲ better, ▼ worse). Liquidity, Growth: the score reflects closeness to the peer median -- 100 is sitting exactly at the median, falling the same way whether the bank runs above or below it.
Olympia, WA · Cert 29012 · Heritage Financial Corp.
State charter, non-member · FDIC · 67 branches
Q2 2026
Market Position · Seattle-Tacoma-Bellevue, WA · 2026 SOD (annual) · 1.9% share · #9 of 43 inst. · $2.7B of $143.1B
Return on Assets (YTD, annualized)
Net Interest Margin (YTD, annualized)
Efficiency Ratio (YTD, annualized)
Tier 1 Leverage Ratio
Year to date, annualized, through each quarter.
| Metric | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | YoY Δ | Trend |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings | ||||||||||
| Return on Assets | 0.68% | 0.71% | 0.89% | 0.84% | 0.96% | 1.07% | 1.15% | 1.05% | +21 bps | |
| Return on Equity | 5.60% | 5.77% | 7.10% | 6.68% | 7.58% | 8.30% | 8.66% | 7.88% | +121 bps | |
| Net Interest Margin | 2.99% | 3.03% | 3.13% | 3.20% | 3.28% | 3.35% | 3.40% | 3.56% | +36 bps | |
| Efficiency Ratio | 62.62% | 62.17% | 63.47% | 62.30% | 61.25% | 60.67% | 64.85% | 67.54% | +524 bps | |
| Non-Interest Burden | 1.67% | 1.68% | 1.77% | 1.76% | 1.77% | 1.79% | 2.07% | 2.28% | +52 bps | |
| Growth | ||||||||||
| Asset Growth (YoY) | 0.03% | -0.96% | 0.54% | 0.15% | -1.99% | -1.96% | 19.19% | 19.23% | +1,908 bps | |
| Loan Growth (YoY) | 9.66% | 10.76% | 7.60% | 5.34% | 1.92% | -0.39% | 20.09% | 20.38% | +1,503 bps | |
| Deposit Growth (YoY) | 1.06% | 1.31% | 5.69% | 4.84% | 2.69% | 4.18% | 24.10% | 21.72% | +1,687 bps | |
| Asset Quality | ||||||||||
| Nonperforming Loans / Loans | 0.23% | 0.11% | 0.09% | 0.39% | 0.44% | 0.44% | 0.26% | 0.27% | -12 bps | |
| Net Charge-Offs / Loans | 0.07% | 0.05% | 0.03% | 0.03% | 0.03% | 0.03% | 0.04% | 0.03% | -1 bps | |
| Allowance / Loans | 1.10% | 1.09% | 1.09% | 1.10% | 1.13% | 1.10% | 1.06% | 1.03% | -7 bps | |
| Allowance Coverage of NPLs | 4.8x | 9.9x | 11.8x | 2.8x | 2.6x | 2.5x | 4.0x | 3.8x | +1.0x | |
| Capital | ||||||||||
| Tier 1 Leverage Ratio | 9.86% | 9.91% | 10.04% | 10.18% | 10.38% | 10.70% | 10.10% | 10.23% | +5 bps | |
| Total Risk-Based Capital | 13.50% | 13.20% | 13.43% | 13.48% | 13.66% | 13.92% | 13.24% | 13.23% | -24 bps | |
| Equity / Assets | 12.46% | 12.36% | 12.57% | 12.79% | 13.07% | 13.40% | 13.22% | 13.32% | +53 bps | |
| Liquidity & Funding | ||||||||||
| Loans / Deposits | 81.96% | 84.41% | 81.46% | 82.52% | 81.34% | 80.70% | 78.83% | 81.61% | -91 bps | |
| Liquid Assets / Assets | 11.43% | 10.72% | 12.03% | 12.07% | 12.18% | 12.27% | 9.87% | 9.07% | -301 bps | |
| CRE / Total Capital | n/a | n/a | n/a | n/a | 442% | 440% | 463% | n/a | n/a | |
Olympia, WA · Cert 29012 · Peer group: banks $1B-$10B in assets (n=322-328) · Heritage Financial Corp.
State charter, non-member · FDIC · 67 branches
Q2 2026
Return on Assets
0.99%
Rank 231 of 328
Net Interest Margin
3.56%
Rank 140 of 328
Efficiency Ratio
70.60%
Rank 269 of 328
Equity / Assets
13.32%
Rank 47 of 328
| Metric | Your Bank | Peer 25th | Peer Median | Peer 75th | Standing | Rank | 8-Qtr Trend | Peer Position |
|---|---|---|---|---|---|---|---|---|
| Earnings | ||||||||
| Return on Assets | 0.99% | 0.91% | 1.22% | 1.52% | Beats 30% | 231 / 328 | ||
| Return on Equity | 7.44% | 8.43% | 11.45% | 14.43% | Beats 18% | 270 / 328 | ||
| Net Interest Margin | 3.56% | 3.03% | 3.45% | 3.83% | Beats 57% | 140 / 328 | ||
| Efficiency Ratio | 70.60% | 51.61% | 59.56% | 67.53% | Beats 18% | 269 / 328 | ||
| Asset Quality | ||||||||
| Nonperforming Loans / Loans | 0.27% | 0.24% | 0.51% | 1.03% | Beats 72% | 91 / 322 | ||
| Net Charge-Offs / Loans | 0.01% | 0.01% | 0.03% | 0.10% | Beats 66% | 109 / 322 | ||
| Capital | ||||||||
| Tier 1 Capital Ratio | 12.34% | 11.75% | 13.15% | 15.47% | Beats 37% | 208 / 328 | ||
| Total Risk-Based Capital Ratio | 13.23% | 12.63% | 14.15% | 16.46% | Beats 35% | 212 / 328 | ||
| Equity / Assets | 13.32% | 9.15% | 10.33% | 12.01% | Beats 86% | 47 / 328 | ||
| Liquidity & Funding | ||||||||
| Loans / Deposits | 81.61% | 76.63% | 87.92% | 95.36% | 35th pctl | 210 / 323 | ||
| Loans / Assets | 68.23% | 65.18% | 74.15% | 79.98% | 31st pctl | 226 / 328 | ||
| Brokered Deposits / Deposits | n/a | Not reported for this institution | ||||||