2023 Q3 Form 10-Q Financial Statement

#000104602523000182 Filed on August 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $73.47M $70.07M $51.73M
YoY Change 20.22% 35.45% -7.64%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $590.0K $623.0K $708.0K
YoY Change -12.07% -12.01% -10.38%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $17.85M $14.25M $1.684M
YoY Change 878.56% 746.02% -3.5%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $21.80M $19.87M $22.56M
YoY Change -15.01% -11.92% -43.81%
Income Tax $3.578M $3.025M $3.977M
% Of Pretax Income 16.42% 15.22% 17.63%
Net Earnings $18.22M $16.85M $18.58M
YoY Change -13.2% -9.35% -43.17%
Net Earnings / Revenue 24.8% 24.04% 35.92%
Basic Earnings Per Share $0.52 $0.48 $0.53
Diluted Earnings Per Share $0.51 $0.48 $524.8K
COMMON SHARES
Basic Shares Outstanding 35.05M shares 35.06M shares 35.10M shares
Diluted Shares Outstanding 35.12M shares 35.13M shares 35.41M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $220.5M $108.4M $994.1M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $76.44M $79.40M $77.16M
YoY Change -0.32% 2.9% -6.85%
Goodwill $240.9M $240.9M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $7.151B $7.115B $7.316B
YoY Change -0.69% -2.75% 2.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $207.0M $190.3M $117.8M
YoY Change 66.9% 61.6% -2.28%
Deferred Revenue
YoY Change
Short-Term Debt $23.20M $38.22M $41.83M
YoY Change -42.64% -8.64% -9.86%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $230.2M $228.5M $117.8M
YoY Change 85.6% 94.05% -2.28%
LONG-TERM LIABILITIES
Long-Term Debt $21.70M $21.62M $21.33M
YoY Change 1.41% 1.37% 1.55%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $21.70M $21.62M $21.33M
YoY Change 1.41% 1.37% 1.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $230.2M $228.5M $117.8M
Total Long-Term Liabilities $21.70M $21.62M $21.33M
Total Liabilities $6.337B $6.296B $6.511B
YoY Change -1.35% -3.31% 4.18%
SHAREHOLDERS EQUITY
Retained Earnings $377.5M $367.1M
YoY Change 14.3%
Common Stock $548.7M $550.1M
YoY Change -0.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $813.5M $819.7M $805.4M
YoY Change
Total Liabilities & Shareholders Equity $7.151B $7.115B $7.316B
YoY Change -0.69% -2.75% 2.97%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income $18.22M $16.85M $18.58M
YoY Change -13.2% -9.35% -43.17%
Depreciation, Depletion And Amortization $590.0K $623.0K $708.0K
YoY Change -12.07% -12.01% -10.38%
Cash From Operating Activities $31.10M $24.07M $22.98M
YoY Change 8.99% 4.75% 11.04%
INVESTING ACTIVITIES
Capital Expenditures $3.770M $824.0K -$471.0K
YoY Change -441.49% -274.95% -62.91%
Acquisitions
YoY Change
Other Investing Activities $55.83M -$79.36M -$428.7M
YoY Change -110.88% -81.49% -260.85%
Cash From Investing Activities $52.06M -$80.19M -$429.2M
YoY Change -110.13% -81.32% -261.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 28.97M -137.0M -176.5M
YoY Change -128.62% -22.37% -495.1%
NET CHANGE
Cash From Operating Activities 31.10M 24.07M 22.98M
Cash From Investing Activities 52.06M -80.19M -429.2M
Cash From Financing Activities 28.97M -137.0M -176.5M
Net Change In Cash 112.1M -193.1M -582.7M
YoY Change -119.11% -66.86% -276.24%
FREE CASH FLOW
Cash From Operating Activities $31.10M $24.07M $22.98M
Capital Expenditures $3.770M $824.0K -$471.0K
Free Cash Flow $27.33M $23.24M $23.45M
YoY Change -7.79% -0.87% 6.77%

Facts In Submission

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us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0 usd
us-gaap Proceeds From Sale Of Federal Home Loan Bank Stock
ProceedsFromSaleOfFederalHomeLoanBankStock
44735000 usd
us-gaap Proceeds From Sale Of Federal Home Loan Bank Stock
ProceedsFromSaleOfFederalHomeLoanBankStock
2000 usd
hfwa Proceedsfrom Saleof Assets Heldfor Sale
ProceedsfromSaleofAssetsHeldforSale
0 usd
hfwa Proceedsfrom Saleof Assets Heldfor Sale
ProceedsfromSaleofAssetsHeldforSale
1173000 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2000 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 usd
hfwa Changeinlowincometaxhousingtaxcreditpartnership
Changeinlowincometaxhousingtaxcreditpartnership
-419000 usd
hfwa Changeinlowincometaxhousingtaxcreditpartnership
Changeinlowincometaxhousingtaxcreditpartnership
-978000 usd
us-gaap Increase Decrease In Loans To Federal Home Loan Banks
IncreaseDecreaseInLoansToFederalHomeLoanBanks
-1754800000 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
1402144000 usd
CY2023Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
74000 usd
CY2023Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
125668000 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
1276550000 usd
CY2023Q2 us-gaap Debt Securities Held To Maturity Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesHeldToMaturityExcludingAccruedInterestAfterAllowanceForCreditLoss
754276000 usd
CY2023Q2 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain
0 usd
CY2023Q2 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
89466000 usd
CY2023Q2 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
664810000 usd
us-gaap Increase Decrease In Loans To Federal Home Loan Banks
IncreaseDecreaseInLoansToFederalHomeLoanBanks
-50000 usd
us-gaap Repayments Of Debt
RepaymentsOfDebt
1304800000 usd
us-gaap Repayments Of Debt
RepaymentsOfDebt
50000 usd
CY2023Q2 us-gaap Trading Securities Debt
TradingSecuritiesDebt
0 usd
CY2022Q4 us-gaap Trading Securities Debt
TradingSecuritiesDebt
0 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
30995000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
30804000 usd
CY2023Q2 us-gaap Held To Maturity Securities Debt Maturities Within One Year Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearNetCarryingAmount
0 usd
CY2023Q2 us-gaap Held To Maturity Securities Debt Maturities Within One Year Fair Value
HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearFairValue
0 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
38496000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
36522000 usd
CY2023Q2 us-gaap Held To Maturity Securities Debt Maturities After One Through Five Years Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsNetCarryingAmount
0 usd
CY2023Q2 us-gaap Held To Maturity Securities Debt Maturities After One Through Five Years Fair Value
HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
0 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
47291000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
44222000 usd
CY2023Q2 us-gaap Held To Maturity Securities Debt Maturities After Five Through Ten Years Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsNetCarryingAmount
83244000 usd
CY2023Q2 us-gaap Held To Maturity Securities Debt Maturities After Five Through Ten Years Fair Value
HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
68938000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
101413000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
86500000 usd
CY2023Q2 us-gaap Held To Maturity Securities Debt Maturities After Ten Years Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsNetCarryingAmount
67761000 usd
CY2023Q2 us-gaap Held To Maturity Securities Debt Maturities After Ten Years Fair Value
HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsFairValue
51822000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
218195000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
198048000 usd
CY2023Q2 us-gaap Debt Securities Held To Maturity Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss Maturity Allocated And Single Maturity Date
DebtSecuritiesHeldToMaturityAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLossMaturityAllocatedAndSingleMaturityDate
151005000 usd
CY2023Q2 us-gaap Held To Maturity Securities Debt Maturities Single Maturity Date Fair Value
HeldToMaturitySecuritiesDebtMaturitiesSingleMaturityDateFairValue
120760000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateAmortizedCost
1183949000 usd
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue
1078502000 usd
CY2023Q2 us-gaap Held To Maturity Securities Debt Maturities Without Single Maturity Date Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesWithoutSingleMaturityDateNetCarryingAmount
603271000 usd
CY2023Q2 us-gaap Held To Maturity Securities Debt Maturities Without Single Maturity Date Fair Value
HeldToMaturitySecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue
544050000 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
1402144000 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
1276550000 usd
CY2023Q2 us-gaap Debt Securities Held To Maturity Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesHeldToMaturityExcludingAccruedInterestAfterAllowanceForCreditLoss
754276000 usd
CY2023Q2 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
664810000 usd
CY2023Q2 hfwa Concentration Debt Securities
ConcentrationDebtSecurities
0
CY2022Q4 hfwa Concentration Debt Securities
ConcentrationDebtSecurities
0
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
296662000 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
8537000 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
963315000 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
117131000 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
1259977000 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
125668000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
846332000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
40033000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
441754000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
88762000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
1288086000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
128795000 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
0 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
0 usd
CY2022Q4 us-gaap Debt Securities Held To Maturity Nonaccrual
DebtSecuritiesHeldToMaturityNonaccrual
0 usd
CY2023Q2 us-gaap Debt Securities Held To Maturity90 Days Or More Past Due Still Accruing
DebtSecuritiesHeldToMaturity90DaysOrMorePastDueStillAccruing
0 usd
CY2023Q2 us-gaap Debt Securities Held To Maturity Nonaccrual
DebtSecuritiesHeldToMaturityNonaccrual
0 usd
CY2022Q4 us-gaap Debt Securities Held To Maturity90 Days Or More Past Due Still Accruing
DebtSecuritiesHeldToMaturity90DaysOrMorePastDueStillAccruing
0 usd
CY2023Q2 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesHeldToMaturityAllowanceForCreditLossExcludingAccruedInterest
0 usd
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
36000 usd
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0 usd
us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
322000 usd
us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
0 usd
us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
-286000 usd
us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLoss
4600000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLoss
4800000 usd
CY2023Q2 us-gaap Debt Securities Held To Maturity Accrued Interest After Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAccruedInterestAfterAllowanceForCreditLoss
2300000 usd
CY2022Q4 us-gaap Debt Securities Held To Maturity Accrued Interest After Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAccruedInterestAfterAllowanceForCreditLoss
2400000 usd
us-gaap Debt Securities Available For Sale Accrued Interest Writeoff
DebtSecuritiesAvailableForSaleAccruedInterestWriteoff
0 usd
us-gaap Debt Securities Held To Maturity Accrued Interest Writeoff
DebtSecuritiesHeldToMaturityAccruedInterestWriteoff
0 usd
us-gaap Debt Securities Held To Maturity Accrued Interest Writeoff
DebtSecuritiesHeldToMaturityAccruedInterestWriteoff
0 usd
us-gaap Debt Securities Available For Sale Accrued Interest Writeoff
DebtSecuritiesAvailableForSaleAccruedInterestWriteoff
0 usd
us-gaap Gain Or Loss On Sale Of Stock In Subsidiary
GainOrLossOnSaleOfStockInSubsidiary
1600000 usd
hfwa Number Of Loan Segments
NumberOfLoanSegments
4 segment
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
4050858000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
42986000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
4007872000 usd
CY2022Q4 us-gaap Financing Receivable Unamortized Purchase Premium Discount
FinancingReceivableUnamortizedPurchasePremiumDiscount
-2501000 usd
CY2023Q2 us-gaap Financing Receivable Unamortized Loan Commitment Origination Fee And Premium Discount
FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount
-10621000 usd
CY2022Q4 us-gaap Financing Receivable Unamortized Loan Commitment Origination Fee And Premium Discount
FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount
-10016000 usd
us-gaap Financing Receivable Credit Quality Additional Information
FinancingReceivableCreditQualityAdditionalInformation
Credit Quality IndicatorsAs part of the on-going monitoring of the credit quality of the Bank’s loan portfolio, management tracks certain credit quality indicators including trends related to (i) the risk grade of the loans, (ii) the level of classified loans, (iii) net charge-offs, (iv) nonperforming loans, (v) past due status, and (vi) the general economic conditions of the United States of America, and specifically the states of Washington and Oregon. The Bank utilizes a risk grading matrix to assign a risk grade to each of its loans. Loans are graded on a scale of 1 to 10. Risk grades are aggregated to create the risk categories of Pass for grades 1 to 6, Special Mention or "SM" for grade 7, Substandard or "SS" for grade 8, Doubtful for grade 9 and Loss for grade 10. Descriptions of the general characteristics of the risk grades, including qualitative information on how the risk grades relate to the risk of loss, are contained in the 2022 Annual Form 10-K. Numerical loan grades for loans are established at the origination of the loan. Changes to loan grades are considered at the time new information about the performance of a loan becomes available, including the receipt of updated financial information from the borrower, results of annual term loan reviews and scheduled loan reviews. For consumer loans, the Bank follows the FDIC’s Uniform Retail Credit Classification and Account Management Policy for subsequent classification in the event of payment delinquencies or default. Typically, an individual loan grade will not be changed from the prior period unless there is a specific indication of credit deterioration or improvement. Credit deterioration is evidenced by delinquency, direct communications with the borrower or other borrower information that becomes known to management. Credit improvements are evidenced by known facts regarding the borrower or the collateral property.Loan grades relate to the likelihood of losses in that the higher the grade, the greater the loss potential. Loans with a pass grade may have some estimated inherent losses, but to a lesser extent than the other loan grades. The SM loan grade is transitory in that the Bank is waiting on additional information to determine the likelihood and extent of any potential loss. The likelihood of loss for SM graded loans, however, is greater than Watch graded loans because there has been measurable credit deterioration. Loans with a SS grade have further credit deterioration and include both accrual loans and nonaccrual loans. For Doubtful and Loss graded loans, the Bank is almost certain of the losses and the outstanding principal balances are generally charged off to the realizable value.
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Year One Originated Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear
258538000 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Year Two Originated Fiscal Year Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear
870700000 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Year Three Originated Two Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear
776772000 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Year Four Originated Three Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear
372301000 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Year Five Originated Four Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear
497217000 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Originated More Than Five Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear
1202010000 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Revolving
FinancingReceivableExcludingAccruedInterestRevolving
273098000 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Revolving Converted To Term Loan
FinancingReceivableExcludingAccruedInterestRevolvingConvertedToTermLoan
708000 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
4251344000 usd
us-gaap Financing Receivable Excluding Accrued Interest Year One Originated Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff
0 usd
us-gaap Financing Receivable Excluding Accrued Interest Year Two Originated Fiscal Year Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff
0 usd
us-gaap Financing Receivable Excluding Accrued Interest Year Three Originated Two Years Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff
12000 usd
us-gaap Financing Receivable Excluding Accrued Interest Year Four Originated Three Years Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff
74000 usd
us-gaap Financing Receivable Excluding Accrued Interest Year Five Originated Four Years Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff
53000 usd
us-gaap Financing Receivable Excluding Accrued Interest Originated More Than Five Years Before Current Fiscal Year Writeoff
FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff
170000 usd
us-gaap Financing Receivable Excluding Accrued Interest Revolving Writeoff
FinancingReceivableExcludingAccruedInterestRevolvingWriteoff
149000 usd
us-gaap Financing Receivable Excluding Accrued Interest Revolving Converted To Term Loan Writeoff
FinancingReceivableExcludingAccruedInterestRevolvingConvertedToTermLoanWriteoff
0 usd
us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
458000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Year One Originated Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear
796964000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Year Two Originated Fiscal Year Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear
763014000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Year Three Originated Two Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear
386202000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Year Four Originated Three Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear
543909000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Year Five Originated Four Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear
252535000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Originated More Than Five Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear
1034561000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Revolving
FinancingReceivableExcludingAccruedInterestRevolving
272551000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Revolving Converted To Term Loan
FinancingReceivableExcludingAccruedInterestRevolvingConvertedToTermLoan
1122000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
4050858000 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Nonaccrual No Allowance
FinancingReceivableExcludingAccruedInterestNonaccrualNoAllowance
3919000 usd
CY2023Q2 hfwa Financing Receivable Excluding Accrued Interest Nonaccrual With Allowance
FinancingReceivableExcludingAccruedInterestNonaccrualWithAllowance
711000 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Nonaccrual
FinancingReceivableExcludingAccruedInterestNonaccrual
4630000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Nonaccrual No Allowance
FinancingReceivableExcludingAccruedInterestNonaccrualNoAllowance
4503000 usd
CY2022Q4 hfwa Financing Receivable Excluding Accrued Interest Nonaccrual With Allowance
FinancingReceivableExcludingAccruedInterestNonaccrualWithAllowance
1403000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Nonaccrual
FinancingReceivableExcludingAccruedInterestNonaccrual
5906000 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
4251344000 usd
us-gaap Finite Lived Intangible Assets Period Increase Decrease
FiniteLivedIntangibleAssetsPeriodIncreaseDecrease
0 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
4050858000 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest90 Days Or More Past Due Still Accruing
FinancingReceivableExcludingAccruedInterest90DaysOrMorePastDueStillAccruing
2300000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest90 Days Or More Past Due Still Accruing
FinancingReceivableExcludingAccruedInterest90DaysOrMorePastDueStillAccruing
1600000 usd
CY2023Q2 hfwa Financing Receivable Excluding Accrued Interest Collateral For Secured Borrowings
FinancingReceivableExcludingAccruedInterestCollateralForSecuredBorrowings
3756000 usd
CY2022Q4 hfwa Financing Receivable Excluding Accrued Interest Collateral For Secured Borrowings
FinancingReceivableExcludingAccruedInterestCollateralForSecuredBorrowings
4334000 usd
CY2023Q2 us-gaap Financing Receivable Modified Weighted Average Term Increase From Modification
FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification
P0Y5M23D
us-gaap Financing Receivable Modified Weighted Average Interest Rate Decrease From Modification
FinancingReceivableModifiedWeightedAverageInterestRateDecreaseFromModification
0.0100
us-gaap Financing Receivable Modified Weighted Average Term Increase From Modification
FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification
P0Y7M9D
us-gaap Financing Receivable Excluding Accrued Interest Modified Subsequent Default
FinancingReceivableExcludingAccruedInterestModifiedSubsequentDefault
0 usd
CY2023Q2 us-gaap Other Real Estate And Foreclosed Assets
OtherRealEstateAndForeclosedAssets
0 usd
us-gaap Allowance For Loan And Lease Losses Period Increase Decrease
AllowanceForLoanAndLeaseLossesPeriodIncreaseDecrease
3400000 usd
hfwa Allowance For Loan And Lease Losses Period Increase Decrease Percent
AllowanceForLoanAndLeaseLossesPeriodIncreaseDecreasePercent
0.080
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
46400000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
43000000 usd
us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
-3700000 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
44469000 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
144000 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Recovery
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery
95000 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
-1988000 usd
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
46408000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
42986000 usd
us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
458000 usd
us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Recovery
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery
179000 usd
us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
-3701000 usd
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
46408000 usd
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
40333000 usd
CY2022Q2 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
249000 usd
CY2022Q2 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Recovery
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery
261000 usd
CY2022Q2 us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
649000 usd
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
39696000 usd
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
42361000 usd
us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff
604000 usd
us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Recovery
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery
1110000 usd
us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal
3171000 usd
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
39696000 usd
us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
0 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
16846000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
18584000 usd
us-gaap Net Income Loss
NetIncomeLoss
37303000 usd
us-gaap Net Income Loss
NetIncomeLoss
38341000 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35083133 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35102572 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35058155 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35110334 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35083133 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35102572 shares
CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
68435 shares
CY2022Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
299190 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
265135 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
310150 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35126590 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35409524 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35348268 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35412722 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
328084 shares
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16978 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
142197 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14334 shares
CY2022Q1 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2022-01-26
CY2022Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.21
CY2022Q1 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2022-02-09
CY2022Q1 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2022-02-23
CY2022Q2 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2022-04-20
CY2022Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.21
CY2022Q2 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2022-05-04
CY2022Q2 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2022-05-18
CY2022Q3 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2022-07-20
CY2022Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.21
CY2022Q3 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2022-08-03
CY2022Q3 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2022-08-17
CY2022Q4 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2022-10-19
CY2022Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.21
CY2022Q4 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2022-11-02
CY2022Q4 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2022-11-16
CY2023Q1 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2023-01-25
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.22
CY2023Q1 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2023-02-08
CY2023Q1 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2023-02-22
CY2023Q2 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2023-04-19
CY2023Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.22
CY2023Q2 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2023-05-04
CY2023Q2 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2023-05-18
CY2023Q2 us-gaap Restricted Cash
RestrictedCash
0 usd
CY2023Q2 us-gaap Unused Commitments To Extend Credit
UnusedCommitmentsToExtendCredit
1295582000 usd
CY2022Q4 us-gaap Unused Commitments To Extend Credit
UnusedCommitmentsToExtendCredit
1280349000 usd
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0001046025-23-000182.txt Edgar Link pending
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ex-311q223.htm Edgar Link pending
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ex-321q223.htm Edgar Link pending
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hfwa-20230630_def.xml Edgar Link unprocessable
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hfwa-20230630_htm.xml Edgar Link completed
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