Heritage Financial (HFWA) Tops Q4 EPS by 20c

Heritage Financial (NASDAQ: HFWA) reported Q4 EPS of $0.66, $0.20 better than the analyst estimate of $0.46.

Jeffrey J. Deuel, President and Chief Executive Officer of Heritage, commented, "We are pleased with our progress in 2020 in spite of the overlay of the pandemic which has been difficult for everyone. I am very proud of our team for navigating the challenges of the current environment and staying focused on expense control, continuing to enhance our back office processes, and effectively managing risk. We continue to enhance our technology solutions which we expect will improve operating efficiencies.

Further, we are pleased with the success of our continuing efforts to have a positive impact on housing in our local communities. We are proud to have been selected as the construction lender for the Community Roots Housing's (formerly known as Capitol Hill Housing) workforce housing development in Seattle's Capitol Hill neighborhood. The project, known as Heartwood Apartments, will consist of 126 units with a mix of 113 studio and 13 one-bedroom units and will be built out of a panelized mass timber construction and adhere to standards that will garner a Green 4-star certification."

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

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