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Heritage Bank & Trust

Columbia, TN · Cert 58220 · Heritage Financial Corp.

State charter, non-member · FDIC · 4 branches

Q2 2026

$417.8MAssets
$359.3MLoans
$377.3MDeposits
$33.4MEquity
Loan mix
97%RE $341.4M2%C&I $8.2M1%Consumer $2.8MQ2 2025Q2 2026
Deposit mix
85%Interest-bearing $321.8M15%Noninterest $55.5MQ2 2025Q2 2026

NIM

5.83%Q2 ’245.91%Q2 ’255.94%Q2 ’26+6%+0%

Non-interest income vs. expense

3.33%Q2 ’243.27%Q2 ’253.14%Q2 ’26+18%-10%

Market Position · Nashville-Davidson--Murfreesboro--Franklin, TN · 2026 SOD (annual) · 0.3% share · #35 of 62 inst. · $0.3B of $107.8B

11.6% Maury
22.8% Hickman
6.9% Lawrence

Executive Summary

  • Earnings: ROA of 1.02%, up 34 bps year over year; NIM at 3.85%.
  • Asset quality: problem loans at 0.36% of loans (-16 bps YoY), with net charge-offs at 0.01%.
  • Capital: tier 1 leverage ratio of 8.48%, up 10 bps from a year ago.
  • Funding: loans stand at 95.22% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

1.02%+34 bps YoY

Net Interest Margin (quarter, annualized)

3.85%0 bps YoY

Efficiency Ratio (quarter, annualized)

69.62%-545 bps YoY

Tier 1 Leverage Ratio

8.48%+10 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.68%1.05%1.10%1.55%1.02%+34 bps
Return on Equity9.39%14.00%14.28%19.84%12.90%+351 bps
Net Interest Margin3.84%3.90%3.82%3.82%3.85%0 bps
Efficiency Ratio75.07%66.44%67.70%60.99%69.62%-545 bps
Non-Interest Burden2.76%2.26%2.38%1.74%2.47%-28 bps
Growth
Asset Growth (YoY)5.89%6.28%5.08%3.71%6.91%+102 bps
Loan Growth (YoY)8.99%12.07%14.49%15.90%16.86%+787 bps
Deposit Growth (YoY)5.83%4.58%2.79%1.19%5.95%+12 bps
Asset Quality
Nonperforming Loans / Loans0.52%0.44%0.41%0.40%0.36%-16 bps
Net Charge-Offs / Loans0.32%0.02%0.02%0.00%0.01%-31 bps
Allowance / Loans1.78%1.77%1.69%1.66%1.62%-16 bps
Allowance Coverage of NPLs3.5x4.0x4.1x4.1x4.5x+1.1x
Capital
Tier 1 Leverage Ratio8.38%8.33%8.31%8.42%8.48%+10 bps
Total Risk-Based Capital11.46%11.42%11.21%11.37%11.50%+3 bps
Equity / Assets7.40%7.58%7.81%7.79%8.00%+61 bps
Liquidity & Funding
Loans / Deposits86.33%89.08%94.86%94.46%95.22%+889 bps
Liquid Assets / Assets4.53%4.65%0.25%2.56%1.35%-318 bps
CRE / Total Capitaln/a414%469%461%n/an/a