Heritage Financial Management

Management criteria checks 4/4

Heritage Financial's CEO is Jeff Deuel, appointed in Jul 2018, has a tenure of 5.83 years. total yearly compensation is $1.61M, comprised of 42.6% salary and 57.4% bonuses, including company stock and options. directly owns 0.2% of the company’s shares, worth $1.28M. The average tenure of the management team and the board of directors is 11.5 years and 11.5 years respectively.

Key information

Jeff Deuel

Chief executive officer

US$1.6m

Total compensation

CEO salary percentage	42.6%
CEO tenure	5.8yrs
CEO ownership	0.2%
Management average tenure	11.5yrs
Board average tenure	11.5yrs

Recent management updates

Recent updates

Heritage Financial's (NASDAQ:HFWA) Dividend Will Be Increased To $0.23

Jan 28

Heritage Financial's (NASDAQ:HFWA) Dividend Will Be Increased To $0.22

Apr 25

Heritage Financial's (NASDAQ:HFWA) Shareholders Will Receive A Bigger Dividend Than Last Year

Jan 31

Is Heritage Financial Corporation (NASDAQ:HFWA) A Smart Pick For Income Investors?

Apr 17

This Insider Has Just Sold Shares In Heritage Financial Corporation (NASDAQ:HFWA)

Mar 20

Have Insiders Been Buying Heritage Financial Corporation (NASDAQ:HFWA) Shares This Year?

Mar 02

Income Investors Should Know That Heritage Financial Corporation (NASDAQ:HFWA) Goes Ex-Dividend Soon

Feb 04

What Is The Ownership Structure Like For Heritage Financial Corporation (NASDAQ:HFWA)?

Feb 02

CEO Compensation Analysis

How has Jeff Deuel's remuneration changed compared to Heritage Financial's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	US$47m
Dec 31 2023	US$2m	US$686k	US$62m
Sep 30 2023	n/a	n/a	US$78m
Jun 30 2023	n/a	n/a	US$81m
Mar 31 2023	n/a	n/a	US$83m
Dec 31 2022	US$2m	US$646k	US$82m
Sep 30 2022	n/a	n/a	US$79m
Jun 30 2022	n/a	n/a	US$78m
Mar 31 2022	n/a	n/a	US$92m
Dec 31 2021	US$1m	US$575k	US$98m
Sep 30 2021	n/a	n/a	US$103m
Jun 30 2021	n/a	n/a	US$99m
Mar 31 2021	n/a	n/a	US$60m
Dec 31 2020	US$1m	US$575k	US$47m
Sep 30 2020	n/a	n/a	US$40m
Jun 30 2020	n/a	n/a	US$41m
Mar 31 2020	n/a	n/a	US$63m
Dec 31 2019	US$1m	US$522k	US$68m
Sep 30 2019	n/a	n/a	US$67m
Jun 30 2019	n/a	n/a	US$64m
Mar 31 2019	n/a	n/a	US$60m
Dec 31 2018	US$876k	US$429k	US$53m
Sep 30 2018	n/a	n/a	US$46m
Jun 30 2018	n/a	n/a	US$41m
Mar 31 2018	n/a	n/a	US$41m
Dec 31 2017	US$703k	US$337k	US$41m

Compensation vs Market: Jeff's total compensation ($USD1.61M) is below average for companies of similar size in the US market ($USD3.45M).

Compensation vs Earnings: Jeff's compensation has been consistent with company performance over the past year.

CEO

Jeff Deuel (64 yo)

5.8yrs

Tenure

US$1,609,640

Compensation

Mr. Jeffrey J. Deuel, also known as Jeff, is Chief Executive Officer and Director of Heritage Financial Corporation since July 1, 2019 and also serves as its President since July 2018. In November 2010, Mr...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Brian Vance	Independent Chairman	22.1yrs	US$163.00k	0.34% $ 2.2m
Jeffrey Deuel	President	5.8yrs	US$1.61m	0.20% $ 1.3m
Donald Hinson	Executive VP & CFO	16.7yrs	US$786.30k	0.12% $ 786.3k
Bryan McDonald	Executive Vice President	no data	US$948.82k	0.11% $ 688.4k
Anthony Chalfant	Executive VP & Chief Credit Officer	3.8yrs	US$697.21k	0.063% $ 412.5k
Matthew Ray	Executive VP & Chief Lending Officer of Heritage Bank	1.3yrs	US$604.91k	0.048% $ 315.2k
William Glasby	Executive VP & CTO	7.3yrs	no data	0.027% $ 173.5k
Sabrina Robison	Senior VP & Chief Human Resources Officer	22.3yrs	no data	0.078% $ 509.6k
Kaylene Lahn	Senior VP & Corporate Secretary	15.7yrs	no data	no data

11.5yrs

Average Tenure

61yo

Average Age

Experienced Management: HFWA's management team is seasoned and experienced (11.5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Brian Vance	Independent Chairman	22.1yrs	US$163.00k	0.34% $ 2.2m
Jeffrey Deuel	President	4.8yrs	US$1.61m	0.20% $ 1.3m
Brian Charneski	Lead Independent Director	24.3yrs	US$110.58k	0.14% $ 946.0k
Jeffrey Lyon	Independent Director	23.3yrs	US$101.75k	0.12% $ 801.7k
Kimberly Ellwanger	Independent Director	18.3yrs	US$109.25k	0.077% $ 506.2k
Ann Watson	Independent Director	11.6yrs	US$101.75k	0.052% $ 338.2k
Deborah Gavin	Independent Director	11.3yrs	US$101.75k	0.052% $ 340.0k
Trevor Dryer	Independent Director	2.3yrs	US$96.75k	0.0052% $ 34.1k
Frederick Rivera	Independent Director	3.4yrs	US$96.75k	0.014% $ 90.8k
Gail Giacobbe	Independent Director	2.3yrs	US$96.75k	0.0052% $ 34.1k

11.5yrs

Average Tenure

62.5yo

Average Age

Experienced Board: HFWA's board of directors are seasoned and experienced ( 11.5 years average tenure).

Heritage Financial Management

Management criteria checks 4/4

Key information

Recent management updates

Heritage Financial Corporation, Annual General Meeting, May 06, 2024

Heritage Financial Corporation, Annual General Meeting, May 06, 2024

President exercised options to buy US$146k worth of stock.

Heritage Financial Corporation and Heritage Bank Announces Resignation of Eric K. Chan as Boards of Director

Lead Independent Director recently bought US$84k worth of stock

Lead Independent Director recently bought US$79k worth of stock

Recent updates

Consensus EPS estimates fall by 19%

First quarter dividend of US$0.23 announced

Heritage Financial Corporation Announces Regular Quarterly Cash Dividend, Payable on May 22, 2024

First quarter 2024 earnings released: EPS: US$0.17 (vs US$0.58 in 1Q 2023)

Heritage Financial Corporation to Report Q1, 2024 Results on Apr 25, 2024

Heritage Financial Corporation, Annual General Meeting, May 06, 2024

Heritage Financial Corporation, Annual General Meeting, May 06, 2024

President exercised options to buy US$146k worth of stock.

Full year 2023 earnings: EPS and revenues miss analyst expectations

Heritage Financial Corporation and Heritage Bank Announces Resignation of Eric K. Chan as Boards of Director

Upcoming dividend of US$0.23 per share at 4.5% yield

Heritage Financial's (NASDAQ:HFWA) Dividend Will Be Increased To $0.23

Fourth quarter dividend increased to US$0.23

Full year 2023 earnings released: EPS: US$1.76 (vs US$2.33 in FY 2022)

Heritage Financial Corporation Declares Quarterly Cash Dividend, Payable on February 22, 2024

Price target increased by 8.7% to US$22.60

Heritage Financial Corporation to Report Q4, 2023 Results on Jan 25, 2024

Upcoming dividend of US$0.22 per share at 5.3% yield

Heritage Financial Corporation Declares Regular Cash Dividend, Payable on November 15, 2023

Third quarter 2023 earnings: EPS exceeds analyst expectations

Heritage Financial Corporation to Report Q3, 2023 Results on Oct 19, 2023

Lead Independent Director recently bought US$84k worth of stock

Upcoming dividend of US$0.22 per share at 4.8% yield

Heritage Financial Corporation Declares Quarterly Cash Dividend, Payable on August 16, 2023

Price target decreased by 7.1% to US$21.00

Second quarter 2023 earnings: EPS in line with expectations, revenues disappoint

Heritage Financial Corporation to Report Q2, 2023 Results on Jul 20, 2023

Lead Independent Director recently bought US$79k worth of stock

Consensus EPS estimates fall by 12%

Price target decreased by 12% to US$25.00

Upcoming dividend of US$0.22 per share at 5.0% yield

Heritage Financial's (NASDAQ:HFWA) Dividend Will Be Increased To $0.22

First quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Price target decreased by 12% to US$29.80

Price target decreased by 7.4% to US$32.40

President exercised options to buy US$256k worth of stock.

Investor sentiment deteriorates as stock falls 16%

Full year 2022 earnings: Revenues and EPS in line with analyst expectations

Heritage Financial's (NASDAQ:HFWA) Shareholders Will Receive A Bigger Dividend Than Last Year

Upcoming dividend of US$0.22 per share at 3.1% yield

Heritage Financial Corporation Declares Dividend for the Fourth Quarter Ended December 31, 2022, Payable on February 22, 2023

Full year 2022 earnings: Revenues and EPS in line with analyst expectations

Heritage Financial Corporation to Report Q4, 2022 Results on Jan 26, 2023

Heritage Financial Corporation Appoints Eric K. Chan to Its Board of Directors, Effective January 1, 2023

Price target increased to US$35.40

Executive VP & Chief Credit Officer recently sold US$98k worth of stock

Price target increased to US$34.40

Upcoming dividend of US$0.21 per share

Third quarter 2022 earnings: EPS and revenues exceed analyst expectations

Heritage Financial Corporation Declares Regular Cash Dividend, Payable on November 16, 2022

Price target increased to US$32.80

Heritage Financial declares $0.21 dividend

Heritage Financial Corporation to Report Q3, 2022 Results on Oct 20, 2022

Upcoming dividend of US$0.21 per share

Heritage Financial's (NASDAQ:HFWA) Dividend Will Be $0.21

Second quarter 2022 earnings: EPS exceeds analyst expectations

Heritage Financial Corporation Declares Quarterly Cash Dividend, Payable on August 17, 2022

Heritage Financial declares $0.21 dividend

Heritage Financial Corporation to Report Q2, 2022 Results on Jul 21, 2022

Chairman of the Board recently sold US$141k worth of stock

Consensus EPS estimates increase by 21%

Upcoming dividend of US$0.21 per share

Heritage Financial (NASDAQ:HFWA) Has Affirmed Its Dividend Of US$0.21

First quarter 2022 earnings: EPS and revenues exceed analyst expectations

Heritage Financial Corporation Declares Quarterly Cash Dividend, Payable on May 18, 2022

Heritage Financial Corporation to Report Q1, 2022 Results on Apr 21, 2022

President exercised options to buy US$136k worth of stock.

Full year 2021 earnings: EPS exceeds analyst expectations

Heritage Financial (NASDAQ:HFWA) Will Pay A Dividend Of US$0.21