# HERITAGE BANK
OLYMPIA, WA · FDIC certificate 29012 · asset band $1-10B · latest filing 2026-06 · live

**Verdict on the desk:** this could be *fortress*. Composite score 0 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $8.42B | |
| Deposits | $7.04B | |
| Loans and leases | $5.75B | |
| Total equity | $1.12B | |
| Loans / deposits | 80.76% (p35 of band) | 87.10% |
| Liquid assets / assets | 21.81% (p53 of band) | |
| Uninsured deposits / deposits | 39.09% (p71 of band) | 30.76% |
| Brokered deposits | 0.00% | |
| Wholesale funding | 1.97% (p29 of band) | |
| FHLB advances / assets | 1.97% | |
| Tier 1 leverage | 10.23% (p43 of band) | 10.50% |
| Unrealized securities loss / equity | -9.16% (p43 of band) | -7.75% |
| AOCI / equity | -0.60% (p30 of band) | |
| ROA (annualized) | 1.05% (p34 of band) | 1.26% |
| Net interest margin | 4.12% (p74 of band) | 3.70% |
| Efficiency ratio | 67.54% (p74 of band) | |
| Noncurrent loans | 0.27% (p29 of band) | 0.51% |
| Net charge-offs (annualized) | 0.02% (p47 of band) | |
| Reserve coverage of noncurrent | 383.45% | |
| Real estate % of loans | 80% | |
| Construction % of loans | 35.42% (p36 of band) | |
| Auto loans | $2.6M (0.04% of loans; DQ 1.51%, NCO 0.00%) | |
| Loans to nondepository financials | $32.5M (3% of equity) (p80 of band) | |
| Deposits YoY | 21.7% | |
| Employees | 981 | |

## Flags firing in the latest filing

- none

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 1 | reserve under noncurrent |  |
| 2011-06 | 1 |  |  |
| 2011-09 | 1 |  |  |
| 2011-12 | 2 | capital falling |  |
| 2012-03 | 1 |  | capital falling |
| 2012-06 | 1 |  |  |
| 2012-09 | 1 |  |  |
| 2012-12 | 1 |  |  |
| 2013-03 | 3 | capital falling, charge-offs p90 |  |
| 2013-06 | 1 |  | reserve under noncurrent, charge-offs p90 |
| 2013-09 | 1 |  |  |
| 2013-12 | 1 |  |  |
| 2014-03 | 0 |  | capital falling |
| 2014-06 | 1 | reserve under noncurrent |  |
| 2014-09 | 1 |  |  |
| 2014-12 | 2 | capital falling |  |
| 2015-03 | 1 |  | capital falling |
| 2015-06 | 1 |  |  |
| 2015-09 | 1 | capital falling | reserve under noncurrent |
| 2015-12 | 1 |  |  |
| 2016-03 | 0 |  | capital falling |
| 2016-06 | 0 |  |  |
| 2016-09 | 1 | capital falling |  |
| 2016-12 | 1 |  |  |
| 2017-03 | 1 |  |  |
| 2017-06 | 0 |  | capital falling |
| 2017-09 | 0 |  |  |
| 2017-12 | 1 | capital falling |  |
| 2018-03 | 0 |  | capital falling |
| 2018-06 | 0 |  |  |
| 2018-09 | 0 |  |  |
| 2018-12 | 0 |  |  |
| 2019-03 | 0 |  |  |
| 2019-06 | 0 |  |  |
| 2019-09 | 1 | reserve under noncurrent |  |
| 2019-12 | 1 |  |  |
| 2020-03 | 0 |  | reserve under noncurrent |
| 2020-06 | 0 |  |  |
| 2020-09 | 1 | capital falling |  |
| 2020-12 | 0 |  | capital falling |
| 2021-03 | 0 |  |  |
| 2021-06 | 0 |  |  |
| 2021-09 | 1 | capital falling |  |
| 2021-12 | 0 |  | capital falling |
| 2022-03 | 0 |  |  |
| 2022-06 | 0 |  |  |
| 2022-09 | 0 |  |  |
| 2022-12 | 2 | deposits shrinking, assets shrinking |  |
| 2023-03 | 1 |  | assets shrinking |
| 2023-06 | 1 |  |  |
| 2023-09 | 2 | securities losses >30% of equity |  |
| 2023-12 | 1 |  | securities losses >30% of equity |
| 2024-03 | 0 |  | deposits shrinking |
| 2024-06 | 0 |  |  |
| 2024-09 | 0 |  |  |
| 2024-12 | 0 |  |  |
| 2025-03 | 0 |  |  |
| 2025-06 | 0 |  |  |
| 2025-09 | 0 |  |  |
| 2025-12 | 0 |  |  |
| 2026-03 | 0 |  |  |
| 2026-06 | 0 |  |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2026-05-21 [Heritage Bank moves, receives branch approval - Spokane Journal of Business](https://news.google.com/rss/articles/CBMilgFBVV95cUxNTkdHVDNhS1pPcVhRMmFVVklUZEh5eFEtYk1UVnM2anBXVjl5VVFQUTJ3alJuZHlDQUZQY2V2Mlc0c0FVNWFvVXpZMDkyZ2ZJSF9NS2VMNHlTVDVjanpqeUhiYzF3Qk9aNVE4cldfZlJ5SGdQamZ0eDQ5M3lVd2hJMWNXd0RZNnVpSUZEVEhGYjRWN1pMR1E?oc=5) · Spokane Journal of Business
- 2026-08-22 [Washington's Best Workplaces 2026: Heritage Bank - The Business Journals](https://news.google.com/rss/articles/CBMixwFBVV95cUxQZmRuN3VFeEg2MkE2SVdkVER3QTNpdFJ1OVU0TzVpcjlKQjFTdmRvVXh5Z3QzbXBSc0JNaUJEVTRwOVh4NEpvR19nWXVtaEVRQlBGd0xCMFh6eGpWXzFNTGpxVE4yQ3NzR2d3OHptZmhFWXhyMENDcEhFeFFLaDUwZGF2eW9mT0VmcUxQTGR2amx3ZGtsWU5fc2tSOTRxSUl4Qng1RHBwZUd3OXMwUzRFSkhRNC1RRnV3M0pKVlY3eVlhNGtuUk5F?oc=5) · The Business Journals
- 2026-03-23 [Heritage Bank Data Breach Reported; Lawyers Investigating - ClassAction.org](https://news.google.com/rss/articles/CBMifkFVX3lxTE9KS2o1bkhtQkJIWVBNTi1PcWsyS0JUVnVfZDRZWnJFNXh1RjhXZ1hXelFabjRZWEFmRTRzVlRIRUY2VFk1MmJ1TGNjZ3JrUDVKbFBvU1N3UFNHcW9sM3dLbUVreUNQaW9GVUl2TGVySWJRYkstaXB6TjA2SFdEUQ?oc=5) · ClassAction.org
- 2025-12-19 [Heritage Financial Corporation Appoints Scott T. Allan to its Board of Directors - PR Newswire](https://news.google.com/rss/articles/CBMi0AFBVV95cUxPRjI2a211T1BSckd4RTVtcGJXbE93dDVOX1hiNEpMbFFsSDQyWWNpZlhJOGE2WWtGeXVJWXdYOEhOcGZFZjJYdWtjUjZRbUZpVTBydzB0MEwzS2I1Q0NhWmhZbDN0WXk5UDVWRDhmWjVMemRDWVN6RHVPWDNUWkg4bjBDWVJlZk5NWXV6bGtFRzhITW95ZXoyUm5QMFRRYWZhbHg4Mnd1bUswN0J0ckZPU1N3cjh0SldyWElTVlpMNmRELW0tejZ0THVBVXFldWVq?oc=5) · PR Newswire
- 2026-03-22 [Heritage Bank Data Breach Affects 182k: Social Security Numbers Exposed - Claim Depot](https://news.google.com/rss/articles/CBMiaEFVX3lxTE5SZU5RX3p2R05qcVJCN0lXdlQ2ZkxReE4wRnJ0d0w5bExKTTE1U184LV9xOXE3OXI3TC1Na0p2dTU2Q0U4ejdkVFlGcDVCcC1iU2stNThSVENVUm5GRWlRc01MLWZVdTY1?oc=5) · Claim Depot
- 2026-03-23 [Heritage Bank Data Breach Claims Investigated by Lynch Carpenter - GlobeNewswire](https://news.google.com/rss/articles/CBMi0gFBVV95cUxONzY4LXdjZndGLVRWcWE1N00ycnYxRWdQamIxZ3FCb2JzU2cwc1pLWkFrdFJfeG1GMVFSSU9aREpGeVhXaGRLY25oMzQxNjRzZEpQTndPTVJsd2JYU3VmeW9sa0ZvQ1ZJV3ZxQk1obVRJVzZLUHpwcUcwYkVpOGg3anVsR2lzazM2bGkyLXJadVdjTTgtYW9VVXU1ejBvUTJ3MmIzbEhHeTRRNEJ1MXk2Z1ZITE5JWUxSdHFBM05kVFZJX3ZoMzYwSUFGalBOWlYxbkE?oc=5) · GlobeNewswire
- 2025-12-11 [Plan for Kitsap Bank project ends, as city seeks new developer on Bay St. - Kitsap Sun](https://news.google.com/rss/articles/CBMixwFBVV95cUxPcjNBT3loUXNodFg0V2hpLW9ucXhqLVhVYWxlc2lSMENEUHdaNDRzQWdGWlhobDV5STFqdG9mdVNpNFctbWEtX0RYRWtvRnBmaS1VNjNpa0RnYzkzbS1Wd0xEWFBKcWhncm5mbHd0ZkxvUmwyRm1kT3MwTWpLS0owMDc3ZkxSUW1ibE5Zd1VtT2N2cFdoZzUxaXp4MEZ0aUNvS3lYQ0pSVENVbnJJaHMwY1FZRGljRW5DclRVYnUwcm04a1FGZ0ZN?oc=5) · Kitsap Sun
- 2024-05-29 [Commerce partners with Heritage Bank and Calvert Impact to launch small business loan programs - Washington State Department of Commerce (.gov)](https://news.google.com/rss/articles/CBMiwgFBVV95cUxPRnVvNTA3N0RaRHJIa09vblhYdG1iVllrY1JtYnZ0SlZWY2QxSXhUdENDRmpaY3NGa2NoSW0xOHFJUnlFUHZhSUd4SXNTaWJKSUEzMW0xcXNOWWlPR0F4ZmdZYUx3TUN3Ty0tLVZQYUlnZ3R4bnpCeDlWS0twY3A4d25HUVdlMVN0dXQ3UzZQajVCSnhyTktIbk5LdVRMTlRRcmZWdVNHVVBEWUNPbmlLcHRZTHRxSlBHazJMeEEwb0lCUQ?oc=5) · Washington State Department of Commerce (.gov)

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=29012 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/20.json (key "29012", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide