Aug. 24, 2011
/PRNewswire/ -- Heritage Financial Corporation ("Company") (Nasdaq: HFWA), announced that its Board of Directors has authorized the repurchase of up to 5% of the Company's outstanding shares or approximately 782,000 shares. The purchases will take place over the next 12 months and may be made on the open market, or in privately negotiated transactions. The number, timing and price of shares repurchased will depend on business and market conditions, and other factors, including opportunities to deploy the Company's capital. The repurchase program may be discontinued at any time.
, President and CEO commented, "Current market conditions present us with a unique opportunity to repurchase our shares at attractive prices that will benefit all of our shareholders. These share repurchases will not detract us from our goal of growing our company organically while actively seeking opportunistic acquisitions. Considering our strong liquidity position and capital levels, well in excess of regulatory requirements, we believe share repurchases are an appropriate strategy at this time."
June 30, 2011
, the Company had consolidated total assets of
and shareholder's equity of
with tangible common equity to tangible assets at 14.4%.
About Heritage Financial
Heritage Financial Corporation is a bank holding company headquartered in
. The Company operates two community banks, Heritage Bank and Central Valley Bank. Heritage Bank serves western
and the greater
area through its twenty-seven full-service banking offices and its Online Banking Website
. Central Valley Bank serves
counties in central
through its six full-service banking offices and its Online Banking Website
. The Company's stock is traded on the Nasdaq Global Select Market under the symbol "HFWA". Additional information about Heritage Financial Corporation is available on its Internet Website
SOURCE Heritage Financial Corporation