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Heritage Financial reports $18.9M Q1 net income, boosted by Olympic Bancorp acquisition and improved margins

Company Fundamentals
23 Apr 2026
PRNewsWire
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Bullish
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Heritage Financial Corporation reported a net income of $18.9 million for Q1 2026, down from $22.2 million in Q4 2025 but up from $13.9 million in Q1 2025. The company completed the acquisition of Olympic Bancorp on January 31, 2026, which expanded its assets by $1.53 billion and improved net interest margin to 3.96%. Despite higher noninterest expenses due to merger costs, Heritage declared a $0.24 per share dividend and expects further cost savings post-system integration by Q3 2026. The acquisition strengthens Heritage's market position in the Puget Sound region and supports sustainable growth and risk management.

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