Heritage Financial Corporation · Olympia, WA United States ·(NASDAQ (GS): HFWA)
Company Description
Phone: 360-943-1500
Fax: 360-943-8046
Toll Free: 800-455-6126
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This link will open in a new window Heritage Financial is the bank holding company for Heritage Bank and Central Valley Bank, which together operate some 20 branches in Washington in the southern Puget Sound area and the central part of the state, respectively. The banks offer a full range of consumer deposit services such as CDs, IRAs, and checking, savings, NOW, and money market accounts. Commercial loans account for more than half of Heritage Financial's loan portfolio, while mortgages secured by multifamily real estate comprise about 20%. The banks also write single-family mortgages, construction loans, and consumer loans. To read the full description, subscribe now.
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Key Heritage Financial Corporation Financials
| Company Type | Public - NASDAQ (GS): HFWA Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $47.2 |
| 2008 Employees | 217 |
Heritage Financial Corporation Executives
18 executives listed for Heritage Financial Corporation's Olympia, WA location.
| Title | Name & Bio | Contact |
| Chairman, Heritage Financial Corporation, Heritage Bank and Central Valley Bank | Donald Rhodes | Network |
| President and CEO; CEO, Heritage Bank; Vice Chairman and CEO, Central Valley Bank | Brian Vance | Network |
| SVP and CFO, Heritage Financial Corporation, Heritage Bank, and Central Valley Bank | Donald Hinson | Network |
Competition
Competitive Landscape for Heritage Financial Corporation
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Heritage Financial Corporation Competitors
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