Heritage Financial Corporation (HFWA) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello everyone and a warm welcome to the Heritage Financial Q1 earnings call. My name is Emily and I'll be coordinating your call today. After the presentation, you'll have the opportunity to ask any questions, which you can do so at any time by pressing star followed by the number one on your telephone keypad. I will now hand you over to Brian McDonald, President and CEO. Please go ahead, Brian. Thank you, Emily. Welcome and good morning to everyone who called in and those who may listen later. This is Brian McDonald, President of Heritage Financial. Attending with me are Jeff Doole, CEO, Don Henson, Chief Financial Officer, and Tony Chalfant, Chief Credit Officer. Our first quarter earnings release went out this morning pre-market and hopefully you have had the opportunity to review it prior to the call. We have also posted an updated first quarter investor presentation on the investor relations portion of our corporate website, which includes more detail on our deposits, loan portfolio, liquidity and credit quality. We will reference the presentation during this call. We are pleased with our operating results for the first quarter, including strong deposit growth, reduced borrowing levels and margin expansion. We are optimistic the combination of our core balance sheet growth and prudent risk management will continue to benefit our core profitability as we progress through 2025. We will now move to Don, who will take a few minutes to cover our financial results. Thank you, Brian. I'll be reviewing some of the main drivers of our performance for Q1. As I walk through our financial results, unless otherwise noted, all the prior period comparisons will be with the fourth quarter of 2024. Starting with the balance sheet, although loan production was similar to the fir...