Heritage Financial (HFWA) Misses Q2 EPS by 9c

Heritage Financial (NASDAQ: HFWA) reported Q2 EPS of $0.35, $0.09 worse than the analyst estimate of $0.44.

Brian L. Vance, CEO of Heritage, commented, "We are pleased with our overall performance for the second quarter of 2018. Although loan growth was muted due to unusually high prepayments, loan originations were strong and we are encouraged with a building pipeline that will help support our loan growth in future periods. In addition, the overall asset sensitivity of our balance sheet has allowed us to improve our net interest margin in this rising rate environment.

"With the addition of the Premier Community Bancorp at the beginning of this month, our total assets exceed $5 billion. We are excited about the impact of the addition of this quality organization will have on our future financial performance through their experienced bankers and the scale of a larger organization."

For earnings history and earnings-related data on Heritage Financial (HFWA) click here.

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