Heritage Financial Corporation (HFWA) M&A Call Transcript

Core Viewpoint - Heritage Financial has announced an agreement to acquire Olympic Bancorp, the parent company of Kitsap Bank, which is a community bank with total assets of $1.7 billion [3]. Company Overview - Heritage Financial is engaging in a strategic acquisition to enhance its market presence and operational capabilities by combining with Olympic Bancorp [2]. - Olympic Bancorp operates Kitsap Bank, a 117-year-old community bank located in Port Orchard, Washington, primarily serving the Western Puget Sound region through 16 branches and 1 loan office [3]. Financial Details - The total assets of Kitsap Bank are reported to be $1.7 billion, indicating a significant scale for a community bank [3].