{"url_path":"/sec/hfwa/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-08","source_url":"https://www.sec.gov/Archives/edgar/data/1046025/0001628280-26-032682-index.html","accession_number":"0001628280-26-032682","cik":"0001046025","ticker":"HFWA","issuer_name":"HERITAGE FINANCIAL CORP /WA/","edgar_url":"https://www.sec.gov/Archives/edgar/data/1046025/0001628280-26-032682-index.html","primary_entity_key":"0001046025","primary_entity_name":"HERITAGE FINANCIAL CORP /WA/"},"word_count":637,"has_tables":true,"body_markdown":"hfwa-20260331\n0001046025false2026Q112/31http://fasb.org/us-gaap/2026#PrepaidExpenseAndOtherAssetshttp://fasb.org/us-gaap/2026#IncomeTaxExpenseBenefitProposed Merger\nOn September 25, 2025, Heritage entered into a definitive agreement (the \"Merger Agreement\") with Olympic pursuant to which Olympic will be merged with and into Heritage (the \"Olympic Merger\"), and immediately thereafter Olympic's bank subsidiary, Kitsap Bank, will be merged with and into Heritage's bank subsidiary, Heritage Bank.\n\nUnder the terms of the Merger Agreement, Olympic shareholders will receive 45.0 shares of Heritage common stock for each share of Olympic capital stock. Based on the closing price of Heritage common stock of $24.64 on September 24, 2025 the implied deal value was approximately $176.6 million. Because the exchange ratio of 45.0 shares of Heritage common stock for each share of Olympic capital stock is fixed, the value of the merger consideration will fluctuate until closing based on the value of Heritage's stock price.\n\nIn the event the Merger Agreement is terminated under certain specified circumstances, each party could be required to pay the other party a termination fee of $7.0 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of Contents](#i551fd7b5d6f4451e9c8139ab417579bd_7)\n\nUNITED STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWASHINGTON, D.C. 20549\n\n \n\nFORM 10-Q\n\n \n\n☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended March 31, 2026 or\n\n☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n For the transition period from __________ to __________\n\nCommission File Number 000-29480 \n\nHERITAGE FINANCIAL CORPORATION\n\n(Exact name of registrant as specified in its charter) \n\n \n\nWashington 91-1857900\n\n(State or other jurisdiction of\nincorporation or organization) (I.R.S. Employer\nIdentification No.)\n\n201 Fifth Avenue SW,OlympiaWA 98501\n\n(Address of principal executive offices) (Zip Code)\n\n(360) 943-1500\n\n(Registrant’s telephone number, including area code) \n\n Securities registered pursuant to Section 12(b) of the Exchange Act:\n\nTitle of each class\n\nTrading symbol\n\nName of each exchange on which registered\n\nCommon stock, no par value\n\nHFWA\n\nThe Nasdaq Stock Market LLC\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ☒    No  ☐\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  ☒    No  ☐\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\nLarge accelerated filer\n☒\nAccelerated filer\n\n☐\n\nNon-accelerated filer  \n\n☐\n\nSmaller reporting company  \n☐\n\nEmerging growth company \n☐\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).   Yes  ☐    No  ☒\n\nIndicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the last practicable date:\n\nAs of April 29, 2026, there were 41,218,817 shares of the registrant's common stock, no par value per share, outstanding.\n\n[Table of Contents](#i551fd7b5d6f4451e9c8139ab417579bd_7)\n\nHERITAGE FINANCIAL CORPORATION AND SUBSIDIARIES\n\nFORM 10-Q\n\nMarch 31, 2026\n\nTABLE OF CONTENTS\n\nPage\n\n[GLOSSARY OF ACRONYMS, ABBREVIATIONS AND TERMS](#i551fd7b5d6f4451e9c8139ab417579bd_10)\n\n[3](#i551fd7b5d6f4451e9c8139ab417579bd_10)\n\n[CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS](#i551fd7b5d6f4451e9c8139ab417579bd_13)\n\n[4](#i551fd7b5d6f4451e9c8139ab417579bd_13)\n\nPART I.\n[FINANCIAL INFORMATION](#i551fd7b5d6f4451e9c8139ab417579bd_16)\n\n[6](#i551fd7b5d6f4451e9c8139ab417579bd_16)"}