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June 20, 2013 /PRNewswire/ -- (NASDAQ: HFWA) Heritage Financial Corporation ("Heritage"), the parent company of wholly-owned subsidiaries, Heritage Bank and Central Valley Bank, today announced that effective today the merger of Central Valley Bank into Heritage Bank was completed. Central Valley Bank will operate as a division of Heritage Bank.
"Central Valley Bank has been part of Heritage since 1999 and the merger into Heritage Bank allows the two banks to operate more efficiently and supports our overall strategies," commented
Brian Vance, Chief Executive Officer of Heritage Financial Corporation, Heritage Bank and Central Valley Bank. "Additionally,
Mike Broadhead, President of Central Valley Bank, will be retiring in
April 2014 and therefore, the integration of the two entities is part of an overall management succession plan. Central Valley Bank will operate as a division of Heritage Bank providing minimal impact to our customers. We look forward to continuing to serve the Yakima Valley marketplace."
About Heritage Financial Corporation
Heritage Financial Corporation is an
Olympia-based bank holding company with approximately
$1.45 billion in assets with Heritage Bank as the wholly owned banking subsidiary. Heritage Bank operates a full-service commercial bank primarily along the I-5 corridor with twenty-eight banking offices in western
Washington and the greater
Portland, Oregon area as well as six branches in the Yakima Valley operating as Central Valley Bank a division of Heritage Bank. More information about Heritage Financial Corporation can be found on its website at
www.hf-wa.com and more information about Heritage Bank can be found on its website at
SOURCE Heritage Financial Corporation