HERITAGE FINANCIAL CORPORATION, WASHINGTON

HERITAGE FINANCIAL CORPORATION, WASHINGTON

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Company Overview
Heritage Financial Corporation, Washington is a public quoted company which operates as holding firm for subsidiaries engaged in the provision of banking services. The company was incorporated in 1997. Its shares are listed on NASDAQ National Market under ticker symbol HFWA. The company has registered head office located in Olympia, Washington.
The company holds banking activities involved in commercial, real estate, income property, agricultural, and consumer loans; business lines of credit secured primarily by real estate; accounts receivable and inventory financing; business term loans secured by real estate for either working capital or lot acquisition; small business administration loans; and unsecured business loans.
Heritage Financial Corporation, Washington is a member of Federal Deposit Insurance Corporation (FDIC).
The company operates through its subsidiary, Heritage Bank and Central Valley Bank, which various provides commercial banking and financial services in Washington.
Business Summary
Bank Holding & Holding Company
Description and history
Heritage Financial Corporation operates as a holding company for Heritage Bank and Central Valley Bank, which provide commercial banking and financial services in Washington. It accepts certificates of deposit, regular savings accounts, money market accounts, checking accounts, negotiable order of withdrawal accounts, and individual retirement accounts. The company also offers commercial, real estate, income property, agricultural, and consumer loans; business lines of credit secured primarily by real estate; accounts receivable and inventory financing; business term loans secured by real estate for either working capital or lot acquisition; small business administration loans; and unsecured business loans. Its real estate lending operations include single-family residential real estate lending, multifamily and commercial real estate lending, and construction loans. As of December 31, 2006, Heritage Bank operated 14 branch offices located in Thurston, Pierce, and Mason Counties; and Central Valley Bank operated 6 branch offices located in Yakima and Kittitas Counties. Heritage Financial Corporation was founded in 1997 and is headquartered in Olympia, Washington.

The Company’s business consists primarily of lending and deposit relationships with small businesses including agribusiness and their owners in its market area, attracting deposits from the general public and originating for sale or investment purposes first mortgage loans on residential properties located in western and central Washington State. The bank also offers commercial loans, business term loans, small business administration loans, unsecured business loans, agricultural loans, and consumer loans, as well as real estate loans, including single family residential, multifamily, and construction loans. The Company’s primary sources of funds are deposits, loan repayments and borrowings. The Company offers a variety of deposit accounts designed to attract both short-term and long-term deposits. These accounts include certificates of deposit (‘CDs’), regular savings accounts, money market accounts, checking and negotiable order of withdrawal (‘NOW’) accounts, and individual retirement accounts (‘IRAs’).

The company invests in U.S. Treasury obligations, U.S. Government agency obligations, certificates of deposit of insured banks, mortgage backed and mortgage related securities, corporate notes, municipal bonds, federal home loan bank stock, and federal funds.

The company’s common stock is traded on the NASDAQ National Market Systemr under the symbol HFWA.

The company has 224 full-time equivalent employees. The company experienced a decrease of 9 full-time equivalents during 2007.

Business Line
Operates as holding firm for subsidiaries engaged in the provision of banking services
Subsidiary
CENTRAL VALLEY BANK
Advisor

IPO date
1/1/1998
US SIC Code
6712
Company Address
201 Fifth Avenue S.W. – P O BOX 1578

City province or state postal code
98507, OLYMPIA, WA
Phone: 1 (360) 943 15 00
Fax:
Country address: UNITED STATES OF AMERICA
Website url: