Heritage Financial Corporation (HFWA) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello everyone and a warm welcome to the Heritage Financial 2025 Q3 earnings call. My name is Emily and I'll be moderating your call today. After the prepared remarks, you'll have the opportunity to ask any questions, which you can do so by pressing start followed by the number one on your telephone keypad. I would now like to turn the call over to Brian McDonald, President and Chief Executive Officer to begin. Please go ahead. Thank you, Emily. Welcome and good morning to everyone who called in and those who may listen later. This is Brian McDonald, CEO of Heritage Financial. Attending with me are Don Hinson, Chief Financial Officer, and Tony Shelfont, Chief Credit Officer. A third quarter earnings release went out this morning pre-market, and hopefully you have had the opportunity to review it prior to the call. In addition to the earnings release, we have also posted an updated third quarter investor presentation on the investor relations portion of our website, which includes more detail on our deposits, loan portfolio, liquidity, and credit quality. We will reference this presentation during the call. As a reminder, during this call, we may make forward-looking statements, which are subject to economic and other factors. Important factors that could cause our actual results to differ materially from those indicated in the forward-looking statements are disclosed within the earnings release and the investor presentation. Improving net interest margin and tight controls on non-interest expense growth continue to incrementally drive earnings higher in the third quarter. On an adjusted basis, earnings per share was up 5.7% versus last quarter, and up 24.4% versus the third quarter of 2024. And on the same adjusted basis, our ROA improved to 1.11% versus 0.87% in the...