Heritage Financial (US:HFWA)2020-05-08 15:04Company Overview - HFWA's market capitalization was $720.5 million as of April 27, 2020 [3] - Institutional ownership was 82.8% as of April 27, 2020 [3] - Total assets were $5.59 billion as of March 31, 2020 [3] - The company has 62 branches and was established in 1927 [3] COVID-19 Response - The company funded 3,356 PPP loans totaling $778.7 million [6] - 55% of the PPP loan count represents loans less than $100,000, and 83% less than $350,000 [6] - The average PPP loan size was $232,000 [6] - Commercial loans modifications totaled $348.1 million, representing 10.6% of the commercial portfolio [6] - Consumer/Mortgage loans modifications totaled $7.4 million, representing 2.7% of the consumer/mortgage portfolio [6] - Indirect Auto loans modifications totaled $21.1 million, representing 7.1% of the indirect portfolio [6, 7] Financial Performance (Q1 2020) - Net loans receivable increased by $73.1 million, or 2.0%, to $3.80 billion [22] - Total deposits increased by $35.3 million, or 0.8%, to $4.62 billion [23] - Net interest margin increased to 4.06% [23]