Heritage Bank in Olympia, Washington (WA), OR
Overview, Financial Summary, Detailed Financial Reports, Branches


Heritage Bank - Overview

  • General
  • FDIC Certificate #: 29012
    Status: Active
    Federal Reserve ID: 881478
    Bank Holding Company (Regulatory Top Holder): Heritage Financial Corporation (RSSDID: 2166124, Location: Olympia, WA)
    Date Established: January 01, 1927
    WWW: http://www.heritagebankwa.com
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 28 (Domestic: 28, Interstate: Yes)
    OTS Docket #: 2763
    FDIC's unique #: 41846
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 23, 1935
    Last Structure Change Effective Date: May 27, 2011
    Last Structure Change Process Date: September 02, 2011
    Last Data Update: September 02, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 201 5th Avenue, S.W., Olympia, WA 98501
    County: Thurston
    Quarterly Banking Profile Region: San Francisco
    FDIC Geographic Region: San Francisco
    FDIC Supervisory Region: San Francisco
    FDIC Field Office: Seattle
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: West
    Metropolitan Statistical Area (MSA): Olympia, WA (#5910)
    Consolidated Metropolitan Statistical Area (CMSA): Seattle-Tacoma-Bremerton, WA (#91)
    Combined Statistical Area (CSA): Seattle-Tacoma-Olympia, WA (#500)
    Core Based Statistical Area (CBSA): Olympia, WA (#36500)
    CBSA Metro Statistical Area: Olympia, WA (#36500)
  • History of Changes
  • Office Purchased
  • Financial Summary
  • Total assets: $1,202.8 mil
    Equity capital: $164.7 mil
    Deposits held in domestic offices: $1,009.5 mil
    Return on assets (ROA): 0.49% ($5.9 mil)
    Quarterly return on assets: 0.67% ($8.1 mil)
    Return on Equity (ROE): 3.55% ($5.9 mil)
    Quarterly return on equity: 4.88% ($8.1 mil)
    Net income: $5.8 mil
    Quarterly Net income: $2.0 mil
    Pretax return on assets: 0.66% ($7,938.7 mil)
    Quarterly Pretax return on assets: 0.90% ($10,825.4 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 314Total employees (full-time equivalent)
  • $1,202,826Total assets
  • $90,824Cash and due from depository institutions
  • $66,418Interest-bearing balances
  • $145,596Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $892,455Net loans & leases
  • $27,934Loan loss allowance
  • $0Trading account assets
  • $19,367Bank premises and fixed assets
  • $3,906Other real estate owned
  • $14,525Goodwill and other intangibles
  • $1,202,826Life insurance assets
  • $36,153All other assets
  • $1,038,138Total liabilities and capital
  • $1,009,454Total liabilities
  • $740,469Total deposits
  • $1,009,454Interest-bearing deposits
  • $98Deposits held in domestic offices
  • 23091.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $161Trading liabilities
  • $0Other borrowed funds
  • $5,432Subordinated debt
  • $164,688All other liabilities
  • $164,688Total equity capital
  • $164,688Total bank equity capital
  • $0Perpetual preferred stock
  • $1,810Common stock
  • $119,891Surplus
  • $42,987Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $1,828Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $39,934Income earned, not collected on loans
  • $2,117Earning assets
  • $4,037Long-term assets (5+ years)
  • $1,104,469Average Assets, year-to-date
  • $254,701Average Assets, quarterly
  • $1,191,712Volatile liabilities
  • $1,204,224Insider loans
  • $865,013FHLB advances
  • $1,181,418Loans and leases held for sale
  • $1,463Unused loan commitments
  • $1,463Tier 1 (core) risk-based capital
  • $148,423Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $170,200Restructured Loans and leases
  • $8,449Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $65,348Total interest income
  • $5,694Total interest expense
  • $59,654Net interest income
  • $13,650Provision for loan and lease losses
  • $9,974Total noninterest income
  • $455Fiduciary activities
  • $3,151Service charges on deposit accounts
  • $0Trading account gains & fees
  • $6,368Additional noninterest income
  • $48,044Total noninterest expense
  • $23,172Salaries and employee benefits
  • $6,302Premises and equipment expense
  • $18,570Additional noninterest expense
  • $7,934Pre-tax net operating income
  • -$39Securities gains (losses)
  • $2,055Applicable income taxes
  • $5,840Income before extraordinary items
  • $0Extraordinary gains - net
  • $5,840Net income attributable to bank
  • $0Net charge-offs
  • $5,840Cash dividends
  • $5,354Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.98%Yield on earning assets
  • 0.52%Cost of funding earning assets
  • 5.46%Net interest margin
  • 0.91%Noninterest income to earning assets
  • 4.39%Noninterest expense to earning assets
  • 0.49%Net operating income to assets
  • 0.49%Return on assets (ROA)
  • 0.66%Pretax return on assets
  • 3.55%Return on equity (ROE)
  • 3.55%Retained earnings to average equity (YTD only)
  • 0.60%Net charge-offs to loans
  • 254.95%Credit loss provision to net charge-offs
  • 4.03%Efficiency ratio
  • 68,369Assets per employee
  • 3.83%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.04%Loss allowance to noncurrent loans
  • 69.95%Noncurrent assets plus other real estate owned to assets
  • 3.64%Noncurrent loans to loans
  • 4.34%Net loans and leases to deposits
  • 88.41%Net loans and leases to core deposits
  • 94.55%Equity capital to assets
  • 13.69%Core capital (leverage) ratio
  • 12.56%Tier 1 risk-based capital ratio
  • 17.16%Total risk-based capital ratio
  • Memoranda
  • $18Average assets
  • $1,191,712Average earning assets
  • $164,464Average equity
  • $1,093,302Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $50,247Managed Assets
  • 1Number of Accounts
  • $39,980Personal trust and agency accounts
  • $39,842Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $138Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 165Number of Accounts
  • $0Personal trust and agency accounts
  • $138Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $10,267Other retirement accounts
  • $3,431Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $6,836Fiduciary accounts held in foreign offices

List of branches

  • 2 Oregon Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    11655113Portland Branch1001 Sw 5th Avenue, Suite 250, Portland, OR 97204September 23, 1994Full Service Brick and Mortar
    117290239Springridge Branch32200 Sw French Prairie Rd, Wilsonville, OR 97070April 01, 1999Limited Service Mobile
  • 26 Washington Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    041846Heritage Bank201 5th Avenue, S.W., Olympia, WA 98501January 01, 1927Full Service Brick and Mortar
    1272317Shelton Branch301 E Wallace Kneeland Plaza, Shelton, WA 98584January 01, 1927Full Service Brick and Mortar
    2272318Lacey Branch4400 Pacific Avenue, Lacey, WA 98503January 01, 1927Full Service Brick and Mortar
    3272319Tumwater Branch5301 Capitol Boulevard, Tumwater, WA 98501January 01, 1927Full Service Brick and Mortar
    100272320Spanaway Branch15211 Pacific Ave, Tacoma, WA 98444January 01, 1927Full Service Brick and Mortar
    101272321West Olympia Branch900 Cooper Point Southwest, Olympia, WA 98502September 08, 1994Full Service Brick and Mortar
    102272322Indian Summer Branch5800 Rainier Loop Southeast, Lacey, WA 98513January 09, 1995Full Service Brick and Mortar
    103272323Lakewood Branch9802 Gravelly Lake Drive, Tacoma, WA 98499January 16, 1996Full Service Brick and Mortar
    104272324Downtown Tacoma Branch1119 Pacific Avenue, Tacoma, WA 98402April 21, 1997Full Service Brick and Mortar
    10527232580th And Pacific Branch8002 Pacific Avenue, Tacoma, WA 98408October 30, 1996Full Service Brick and Mortar
    10637256th Street Branch5448 South Tacoma Way, Tacoma, WA 98409June 01, 1906Full Service Brick and Mortar
    10718174188th Street Branch8801 South Tacoma Way, Tacoma, WA 98499January 04, 1965Full Service Brick and Mortar
    108442531Mobile Branch201 5th Avenue, S.W., Olympia, WA 98501August 01, 2005Limited Service Mobile
    109450624Sumner Branch1005 Wood Ave, Sumner, WA 98390Febuary 15, 2006Full Service Brick and Mortar
    11047809Federal Way Branch32303 Pacific Highway South, Federal Way, WA 98003October 01, 1992Full Service Brick and Mortar
    11115798Longview Branch927 Commerce Avenue, Longview, WA 98632May 01, 1978Full Service Brick and Mortar
    112255049Kelso Branch1000 South 13th, Kelso, WA 98626October 28, 1996Full Service Brick and Mortar
    113195781Castle Rock Branch202 Cowlitz St. W, Castle Rock, WA 98611September 06, 1937Full Service Brick and Mortar
    114195788Kalama Branch195 N 1st Street, Kalama, WA 98625September 02, 1937Full Service Brick and Mortar
    115255050Bellevue Branch520 112th Ave Ne, Suite 160, Bellevue, WA 98004August 16, 1999Full Service Brick and Mortar
    11856235Seattle Branch1505 Westlake Ave N, Suite 125, Seattle, WA 98109November 24, 1995Full Service Brick and Mortar
    119452965Vancouver Branch700 Washington St., Suite 106, Vancouver, WA 98660March 01, 2006Full Service Brick and Mortar
    12057174Allenmore Branch1722 South Union Avenue, Tacoma, WA 98405December 08, 1997Full Service Brick and Mortar
    121521570Puyallup Branch4627 S Meridian, Puyallup, WA 98373September 09, 2010Full Service Brick and Mortar
    123521981Gig Harbor Branch5119 Olympic Drive Nw, Gig Harbor, WA 98335Febuary 17, 2011Full Service Brick and Mortar
    124361529Kent Branch6703 S. 234th St. Suite 100, Kent, WA 98032April 16, 2001Full Service Brick and Mortar

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