11潛在增長機會-從標普全球市場情報獲得的地圖。-銀行總部的某些位置在地圖上重疊。-截至最近一個季度的公開財務信息。·建立PNW地區性商業社區銀行的長期目標;除西澳外,在OR和ID還有併購和生產團隊提升的潛在機會。·HFWA被定位為太平洋西北部地區的首選收購方。·大量銀行仍留在HFWA的足跡內;預計將進一步整合。-11家資產在2億至5億美元之間的銀行-20家資產在5億至10億美元之間的銀行-15家資產在10億至35億美元之間的銀行·財務參數包括15%的內部回報率和年利率
12完成兩筆FDIC交易皮爾斯商業銀行資產2.11億美元考利茨銀行3.45億美元資產收購Puget Sound Bancorp$6.39億資產Premier Commercial Bancorp$4.40億資產$1,015$812$1,369$1,346$1,340$1,712$3,651$3,879$4,113$4,238$5,553$6,615$7,432$7,484$7,316$7,200$6,980$556$319$1,747$1,079$12.21$12.99$13.10$13.16$13.31$15.02$15.08$20.63$22.85$22.34$22.13$22.73$11.00$12.16$12.16$11.41$11.86$12.70$13.54$15.07$15.77$17.19$16.27$15.83$15.04$15.66$13.74$14.78$15.08$16.92$17.25$17.59$18.03$18.50有機收購資產每股賬面價值(GAAP)每股有形賬面價值(非GAAP)每股有形賬面價值不包括AOCI(非GAAP)2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022與Washington Banking Company合併的歷史增長有機和收購性資產17億美元收購的硅谷社區銀行股份2.54億美元資產西北商業銀行6500萬美元資產-非GAAP財務指標的計算見附錄。-累計其他全面收益或虧損(AOCI)-每股有形賬面價值,不包括AOCI,約為2018年前期間的每股有形賬面價值。16.88美元
2013年增長戰略年活動·收購硅谷社區銀行股份--資產2.54億美元·收購西北商業銀行--資產6500萬美元·收購華盛頓銀行--2015年資產17億美元·在華盛頓州西雅圖增加一個商業銀行團隊·在2017年增加專業知識後成立我們的資本市場集團·在俄勒岡州波特蘭增加了一個商業銀行團隊·擴大了非營利性貸款的專業知識,並在2018年增加了一個專注於存款生產的商業職位·收購了Puget Sound Bancorp--資產6.39億美元·收購了Premier Commercial Bancorp--2019年資產4.4億美元·在大波特蘭增加了一個商業銀行團隊俄勒岡地區·2022年擴大牙科和醫療保健領域的專業知識·在華盛頓州温哥華增加新的商業銀行團隊·在俄勒岡州波特蘭增加新的商業銀行團隊·通過2023年在俄勒岡州尤金增加商業銀行團隊和全面服務分支機構擴展到新市場·通過在愛達荷州博伊西增加商業銀行團隊和全面服務分支機構擴展到新市場(2023年1月10日分行開業)·期望在這個市場繼續擴張銀行收購和團隊增加過去10年銀行收購團隊增加
14存款市場份額華盛頓和俄勒岡2008年華盛頓和俄勒岡2013年華盛頓和俄勒岡-2022年存款市場份額排名機構(州)市場份額存款市場份額排名機構(州)存款市場份額1美國銀行(北卡羅來納州)$32,880 20.36%1美國銀行(北卡羅來納州)$34,290 19.44%1美國銀行(北卡羅來納州)$64,49718.59%2美國Bancorp(MN)18,200 11.27%2美國Bancorp(MN)24,3富國銀行(加州)22,985 13.03%3摩根大通(紐約)46,617 13.44%4富國銀行(加州)13,983 8.66%4摩根大通(紐約)15,638 8.87%4富國銀行(CA)40,551 11.69%5 KeyCorp(OH)11,282 6.99%5 KeyCorp(OH)11,806 6.69%5 KeyCorp(OH)18,670 5.38%6 Sterling Financial Corp.(WA)6,315 3.91%6 Washington Federal Inc.(WA)6,217 3.52%6 Umpqua Holdings Corporation(OR)17,658 5.09%7 Washington Federal Inc.(WA)4,697 2.91%7 Columbia Banking System Inc.(WA)5,840 3.31%7 Columbia Banking System,Inc.(WA)15,407 4.44%8 Umpqua Holdings Corp.(OR)3,683 2.28%8 Umpqua Holdings Corp.(OR)5,499 3.12%8 Banner Corporation(WA)10,879 3.14%9 Banner Corp.(WA)3,511,650 2.17%9 Sterling Financial Corp.(WA)5,203 2.95%9 Washington Federal,Inc.(WA)10,190 2.94%10 Frontier Financial Corp.(WA)3,304 2.05%10 Mitsubishi UFJ Financial Group475 1.97%10 W.T.B.Financial Corporation(WA)8,045 2.32%11 Columbia Banking System Inc.(WA)2,401 1.49%11 Banner Corp.(WA)3,255 1.85%11 Heritage Financial Corporation(WA)6,338 1.83%12 W.T.B.Financial Corp.(WA)2,356 1.46%12 W.T.B.Financial Corp.(WA)3,180 1.80%12 HomeStreet,Inc.西海岸銀行(OR)2,082 1.29%13 HomeStreet Inc.(西澳)1, 第一州際銀行系統公司(MT)3,566 1.03%14 HomeStreet Inc.(WA)1,268 0.79%14 SKBHC Holdings LLC(WA)1,551 0.88%14法國巴黎銀行SA 2,714 0.78%15下跌銀行(OR)1,142 0.71%15華盛頓銀行(WA)1,411 0.80%15 First Republic Bank(CA)2,708 0.72%16 americanWest Bancorp(西澳)1,100 0.68%16亞基馬聯邦物流協會。(西澳)1,402 0.79%16 Coastal Financial Corporation(西澳)2,700 0.72%17 Horizon Financial Corp.(西澳)1,097 0.68%17法國巴黎銀行(BNP Paribas SA)1,315 0.75%17 People Bancorp(西澳)2,500 0.59%18 Yakima Federal S&L Assoc.(西澳)1,094 0.68%18 Heritage Financial Corp.(西澳)1,227 0.70%18三菱日聯金融集團(Mitsubishi UFJ Financial Group,Inc.)2,497 0.57%19法國巴黎銀行1,002 0.62%19 People Bancorp(西澳)1,119 0.63%19 FS Bancorp,Inc.(西澳)2,033 0.78%20下跌金融公司(西澳)9930.62%20山羊谷銀行(西澳)1,094 0.62%20山羊絨谷銀行(西澳)1,964 0.29%21 City Bank(WA)955 0.59%21 Pacific Continental Corp.(OR)1,075 0.61%21 East West Bancorp,Inc.(CA)1,692 0.78%22 Columbia Bancorp(OR)940 0.58%22 Opus Bank(CA)968 0.55%22 Timberland Bancorp,Inc.(WA)1,692 0.78%22 Columbia Bancorp(OR)940 0.58%22 Opus Bank(CA)968 0.55%22 Timberland Bancorp,Inc.(WA)1,692 0.78%22 Columbia Bancorp(OR)940 0.58%22 Opus Bank(CA)968 0.55%22 Timberland Bancorp,Inc.(WA)1,692 0.78%22 Columbia Bancorp(OR)940 0.58%22 Opus Bank(CA)968 0.55%22 Timberland Bancorp,Inc.(WA)1,692 0.78%2223風險金融集團(WA)917 0.57%23 East West Bancorp Inc.(CA)925 0.52%23 First Northwest Bancorp(WA)1,598 0.44%24 First Financial Northwest Inc.(WA)868 0.54%24奧林匹克Bancorp Inc.(WA)807 0.46%24 Zion BancorpNA(UT)1,540 0.48%25 People Bancorp(WA)846 0.52%25滙豐控股802 0.45%25奧林匹克銀行(WA)1,522 0.43%26羊絨谷金融公司(WA)842 0.52%26下跌Bancorp(OR)800 0.45%26 Riverview Bancorp,Inc.(WA)1,507 0.46%27 Heritage Financial Corp.(WA)802 0.50%27 Zion BancorpNA(UT)774 0.44%27 Yakima Federal S&L Assoc.(西澳)1,498 0.44%28 Liberty Financial Group Inc.(或)778 0.48%28 Skagit Bancorp Inc.(西澳)667 0.38%28 Pacific Financial Corporation(西澳)1, 2040.43%29華盛頓銀行(西澳)734 0.45%29 Riverview Bancorp Inc.(西澳)660 0.37%29 First Financial Northwest,Inc.(西澳)1,194 0.34%30 First Indep投資集團(Investment Group Inc.)684 0.42%30第一金融西北公司(First Financial Northwest Inc.)642 0.36%30 Glacier Bancorp,Inc.(MT)1,049 0.35%31太平洋大陸公司(Pacific Continental Corp.)(OR)677 0.42%31 First FED。S&L協會。滙豐控股1,020 0.25%32 PremierWest Bancorp(OR)664 0.41%32 Timberland Bancorp Inc.(WA)596 0.34%32 Citizens Bancorp(OR)949 0.30%33 Riverview Bancorp Inc.(WA)630 0.39%33 Pacific Financial Corp.(WA)591 0.34%33 Pacific Premier BancorpBaker Boyer Bancorp(WA)468 0.27%34 Summit Bank Group,Inc.(或)861 0.23%35 Zion Bancorp北卡羅來納(UT)572 0.35%35奧林匹亞聯邦儲貸協會(WA)465 0.26%35國泰總行(CA)822 0.25%36惠特曼銀行(華盛頓)528 0.33%36 Home Federal Bancorp Inc.(ID)451 0.26%36 Sound Financial Bancorp,Inc.(WA)790 0.22%37華盛頓第一金融集團(WA)515 0.32%37 First Citizens BancShares Inc.(NC)416 0.24%37 First Citizens BancShares,Inc.(NC)772 0.22%38 First FEDS&L協會。洛杉磯港(WA)496 0.31%38 Citizens Bancorp(OR)404 0.23%38 BEO Bancorp(OR)771 0.21%39 Skagit Bancorp Inc.(WA)486 0.30%39 Coastal Financial Corp.(WA)349 0.20%39 PBCO Financial Corporation(OR)751 0.20%40 Timberland Bancorp Inc.(WA)480 0.30%40 Evergreen Federal Bank(OR)336 0.19%40 Baker Boyer Bancorp(WA)728 0.22%市場上機構總計161,492市場中機構總數176371機構入市總額為346,970美元從標普全球市場情報獲得的截至6月30日的年度數據顯示,在84家機構中,120家機構中的148家機構中有346,970美元。
財務最新消息
16財務更新-2022年第四季度·2022年第四季度淨收入為2250萬美元,或每股稀釋後收益0.64美元,而2022年第三季度為2100萬美元,或每股稀釋後收益0.59美元,2021年第四季度為1940萬美元,或每股稀釋後收益0.55美元。·2022年第四季度,應收貸款增加4960萬美元,增幅為1.2%(摺合成年率為4.9%)。·應收貸款增加2.352億美元,在截至2022年12月31日的一年中增長6.2%。不包括SBA PPP償還的1.44億美元貸款,截至2022年12月31日的一年,應收貸款增加了3.796億美元。·2022年第四季度淨利息收入增加380萬美元,增幅6.4%,與2022年第三季度的5930萬美元相比,增長6.4%;與2021年第四季度的4790萬美元相比,增長1520萬美元,增幅31.7%。·淨息差從2022年第三季度的3.57%和2021年第四季度的2.85%增加到2022年第四季度的3.98%。·2022年第四季度的總存款成本為0.16%,而2022年第三季度和2021年第四季度的總存款成本均為0.09%。·2023年1月10日,在博伊西開設了一家分支機構,擴大了愛達荷州的地理足跡。·於2023年1月25日宣佈定期現金股息為每股0.22美元,較2022年第三季度宣佈的每股0.21美元的定期現金股息增加4.8%。
17元3,669元4,336元4,181元3,853元3,836元3,773元3,812元3,860元3,963 5.17%4.44%4.54%4.52%4.34%4.43%4.42%4.41%4.30%4.51%4.86%4.13%4.20%4.15%4.49%4.85%平均貸款收益率SBA PPP(非GAAP)2019 2020 2021 2022 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022商業和工業平均貸款餘額和貸款收益率17.1%SBA PPP 0.0%業主自住CRE 23.1%非業主自住CRE 39.2%住宅房地產8.5%建設和土地開發7.3%消費者4.8%貸款組合當前季度貸款組合貸款組合重新定價時間表(不包括SBA PPP貸款)35.7%33.9%30.6%28.6%26.0%25.5%26.0%22.0%20.3%21.3%22.4%23.9%23.0%21.7%42.3%45.8%481%49.0%50.1%51.5%52.3%固定利率浮動(3個月重新定價)2019 2020 2021 Q1 2022 Q2 2022 Q2 2022 Q4 2022-貸款收益率計算納入應收貸款平均餘額,淨額和待售貸款。-非公認會計準則財務計量的計算見附錄。4.62%
18 LOAN PORTFOLIO COMPOSITION $3,768 $4,469 $3,816 $3,821 $3,874 $4,001 $4,051 $852 $733 $622 $652 $699 $735 $692 $805 $857 $931 $936 $951 $959 $937 $1,289 $1,410 $1,493 $1,505 $1,516 $1,547 $1,587 $132 $123 $165 $223 $265 $296 $344 $275 $306 $227 $222 $219 $253 $294 $415 $325 $232 $218 $213 $207 $196 $715 $146 Commercial & industrial Owner-occupied CRE Non-owner occupied CRE Residential real estate Construction & land development Consumer SBA PPP 2019 2020 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022
19新承諾$23$22$43$29$21$45$75$61$47$66$329$222$283$277$329消費性住宅商業,不包括SBA PPP 2021年第四季度2022年第二季度2022年第三季度2022年第四季度貸款產生-2022年第一季度、2022年第二季度、2022年第三季度和2022年第四季度產生的住宅承諾分別包括4220萬美元、2730萬美元、2900萬美元和4050萬美元的購買貸款。
20 Construction Commitments $580 $486 $488 $472 $489 $542 $686 $275 $306 $227 $222 $219 $253 $294 $305 $180 $261 $250 $270 $289 $392 Outstanding Balance Available Credit 2019 2020 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 35.06% 25.62% 25.17% 28.53% 30.90% 35.43% 29.83% 47.41% 62.96% 46.52% 47.03% 44.79% 46.68% 42.86% 36.28% 32.91% 31.37% 31.38% 31.35% 31.80% 31.14% Utilization Rate - Consumer LOCs Utilization Rate - Construction LOCs Utilization Rate - Commercial and Industrial Loan LOCs 2019 2020 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 LINE OF CREDIT ("LOC") UTILIZATION LOC Utilization Rates
21應收貸款變動$4,001$203$(85)$(49)$(20)$4,051 2022年9月30日的應收貸款貸款產生的預付款到期日/還款淨額/付款淨額2022年12月31日的應收貸款$3,874$207$(80)$(55)$55$4,001 2022年6月30日的應收貸款產生的預付款還款淨額2022年9月30日的應收貸款貸款變化-2022年第4季度貸款變化-2022年第3季度
22商業貸款風險敞口按行業風險敞口行業劃分的商業商業貸款擔保金額擔保金額於2022年9月30日擔保於2022年12月31日房地產,租金及租賃1,712 4.4 4.4醫療及社會援助313 4.5 4.6 4.6住宿及飲食服務165 6.3 5.8 5.4零售業158 4.6 4.5 4.4建造業129 4.6 4.6 4.7其他服務(公共行政除外)98 4.7 4.6 4.6製造業92 5.1 5.0所有其他行業549 4.5 4.4合計3,216 4.6 4.5 4.5按抵押品類型抵押品類型擔保金額擔保於2022年9月30日擔保金額於2022年12月31日擔保辦公室$580 4.3 4.3工業367 4.4 4.4 4.5零售店/購物中心292 4.6 4.6 4.6多户257 4.3 4.3 4.3綜合用途物業155 4.7 4.6 4.5汽車旅館/酒店129 6.1 5.7單一用途113 4.3 4.6 4.5倉庫147 4.64.6 4.6迷你貯物149 4.8 4.2 4.2康樂/學校71 5.1 4.9 4.9其他265 4.7 4.8 4.7總計2,525 4.6 4.5 4.5-按NAICS代碼分類-不包括SBA PPP貸款。-WARR=加權平均風險評級。寫字樓23.0%工業14.5%零售商店/購物中心11.6%多户10.2%混合用途物業6.1%汽車旅館/酒店5.1%單一用途4.5%倉庫5.8%迷你倉庫5.9%娛樂/學校2.8%其他10.5%房地產和租賃53.3%醫療保健和社會救助9.7%住宿和飲食服務5.1%零售業4.9%建築業4.0%其他服務業(不包括公共管理)3.0%製造業2.8%所有其他行業17.2%
23 $45 $58 $24 $17 $10 $6 $6 Nonaccrual loans OREO Nonperforming assets to total assets 2019 2020 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 0.82% 0.88% 0.32% 0.22% 0.14% 0.09% 0.08% NONPERFORMING ASSETS $1 0.09% 0.07% 0.01% (0.03)% 0.05% (0.05)% 0.00% (0.05)% (0.02)% Net charge-offs (recoveries) on loans to average loans, annualized 2019 2020 2021 2022 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022
24批評貸款$143$291$183$175$166$150$135$45$58$24$17$10$6$6$49$100$89$95$84$60$60$49$132$71$63$72$84$69不合標準-應計項目特別提及2019 2020 2021 Q1 2022 Q2 2022 Q3 200 Q4 2022按抵押品類型劃分的貸款23.1%業主自住的CRE 28.6%非業主自住的CRE 40.3%住宅房地產0.1%建築與土地開發6.2%消費者1.7%按貸款類別劃分的零售/酒店貸款17.0%購物中心9.3%混合用途物業5.3%老年人護理6.2%農場3.4%輔助生活4.2%餐廳2.0%工業6.7%倉庫3.1%其他CRE 5.6%非CRE 12.5%
25-非公認會計準則財務計量的計算見附錄。$36$70$42$40$40$40$42$43貸款的ACL($)貸款/貸款的ACL(%)貸款/貸款的ACL不包括。SBA PPP(非GAAP)(%)2019 2020 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 0.96%1.57%1.11%1.06%1.02%1.05%1.06%1.87%1.15%1.07%1.03%1.05%1.06%貸款信貸損失撥備(“ACL”)KD 1/11/23此幻燈片似乎不再有用。有什麼想法嗎?JN-是的,他們正在關注趨勢。不過,在某種程度上,我們可以擺脱ACL ex PPP。
26 $4,461 $5,298 $6,090 $6,398 $6,374 $6,409 $6,391 $6,374 $6,118 0.37% 0.23% 0.10% 0.11% 0.09% 0.09% 0.09% 0.09% 0.16% Average deposits Cost of total deposits 2019 2020 2021 2022 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Deposit Composition DEPOSITS Deposit Balances and Cost of Total Deposits 31.8% 35.5% 36.7% 36.9% 36.7% 37.0% 35.5% 29.3% 30.6% 30.4% 31.1% 31.3% 32.0% 30.9% 16.4% 17.2% 17.5% 16.9% 16.8% 16.0% 17.9% 11.1% 9.6% 10.0% 10.0% 10.3% 10.4% 10.5% 11.4% 7.1% 5.4% 5.1% 4.9% 4.6% 5.2% Noninterest demand deposits Interest bearing demand deposits Money market accounts Savings accounts Certificates of deposit 2019 2020 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022
27$952$802$1,278$2,098$1,278$1,462$1,803$2,129$2,098$243$153$757$1,203$268$290$427$438$48 2.75%2.40%2.13%2.48%2.12%1.96%2.15%2.63%2.92%新購買2019 2020 2021 2022 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q3 2022 Q4 2022投資組合投資組合(按公允價值計算)美國政府和機構的市政證券7.6%住宅CMO和MBS 34.8%企業債務CMO和MBS 47.3%0.2%其他資產支持證券1.1%3.15 2.69 4.85 4.93 3.59 5.64 6.76 4.08 4.85 5.52 5.28 4.98 4.935.20 4.51 3.96 4.09 2.39持續期-僅2019 2020 2021 2022 Q4 2021 Q1 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2022投資組合持續期強勁信用投資組合質量:·91.3%投資於美國政府和機構證券·8.4%AA級或更好·比AA級低0.3%
28 3.23%(0.42)%0.11%0.33%0.11%(0.01)%3.35%YTD Q4 2021年PPP貸款收益率投資計息存款YTD Q4 2022 4.22%3.63%3.23%3.35%2.85%2.84%3.04%3.57%3.98%4.12%3.57%3.18%3.33%2.83%2.81%3.02%3.54%3.97%NIM,不包括購買貸款(非GAAP)的增值2019 2020 2021 2022 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022淨息差-非GAAP財務指標的計算請參閲附錄。3.57%(0.02)%0.44%0.17%(0.11)%(0.07)%3.98%QTD Q3 2022購買力平價貸款收益率投資計息存款計息負債總額QTD Q4 2022淨息差變化QTD Q4 2022與QTD Q3 2022淨息差變化YTD Q4 2022與YTD Q4 2021(GAAP)
29資產重新定價構成2022年12月31日浮動利率(3個月重新定價)固定利率賺取利息的存款總額$29$-$-$29投資證券總額,按公允價值計算103 9 1,893 2,005應收貸款(不包括小型企業購買力平價)878 1,052 2,121 4,051生息資產總額1,010$1,061$4,014$6,085%生息資產總額16.6%17.4%65.9%無息資產總額895美元6,980%總資產14.5%15.2%57.5%生息資產平均生息資產構成77.6%67.6%56.9%58.3%54.4%54.7%57.2%58.4%62.9%10.7%8.6%0.6%3.1%1.6%0.5%0.1%0.1%20.3%16.0%15.8%27.2%17.5%21.2%24.0%30.4%33.5%5.7%18.7%14.0%25.0%22.5%18.3%11.1%應收利息存款投資證券SBA PPP貸款,NET,不包括SBA PPP 2019 2020 2021 2022 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 2.1%3.5%
30 $67.6 $46.6 $98.0 $81.9 $85.4 $89.3 $91.1 $98.0 Net income (GAAP) PTPP income (non-GAAP) 2019 2020 2021 2022 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $19.4 $19.8 $18.6 $21.0 $22.5 $19.3 $19.8 $21.4 $27.6 $29.3 PROFITABILITY TRENDS ROAE (GAAP) and ROATCE (non-GAAP) Noninterest Expense/Avg. Assets ROAA (GAAP) and PTPP ROAA (non-GAAP) 1.25% 0.74% 1.38% 1.12% 1.04% 1.08% 1.01% 1.13% 1.26% 1.58% 1.42% 1.28% 1.34% 1.03% 1.08% 1.16% 1.49% 1.64% ROAA (GAAP) PTPP ROAA (non-GAAP) 2019 2020 2021 2022 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Net Income (GAAP) and PTPP Income (non- GAAP), in millions 13.35% 8.98% 17.05% 14.94% 13.27% 13.83% 13.68% 15.20% 17.21% 8.56% 5.78% 11.64% 10.08% 9.06% 9.47% 9.19% 10.27% 11.46% ROAE (GAAP) ROATCE (non-GAAP) 2019 2020 2021 2022 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 2.71% 2.37% 2.09% 2.06% 2.06% 1.95% 1.94% 2.11% 2.26% 2019 2020 2021 2022 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 – Refer to Appendix for calculation of non-GAAP financial measures – ROAA - Return on average assets – PTPP - Pre-tax, pre-provision – ROAE - Return on average equity – ROATCE - Return on average tangible common equity
31 10.2%8.5%8.3%8.3%8.7%9.5%10.4%8.9%8.4%7.9%7.9%7.6%8.2%14.6%12.4%11.5%11.0%股東權益與總資產比率(GAAP)有形普通股權益(“TCE”)至有形資產(非GAAP)TCE(不包括AOCI)至有形資產,不包括UGL(非GAAP)2019 2020 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 12.8%14.0%14.8%14.8%14.7%14.4%14.0%14.0%10.0%10.0%10.0%2.8%4.0%4.8%4.7%4.4%4.0%資本充足的超額資本2019 2020 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022-當前季度比率是在完成和提交公司的監管報告之前的估計。-非公認會計準則財務指標的計算見附錄。-資本充裕代表FDIC銀行資本充裕的比率門檻。一級槓桿和基於總風險的資本的最低資本比率要求分別為4.0%和8.0%。-根據銀行的資產和負債管理政策,經紀CD容量限制為總存款的15%。10.6%9.0%8.7%8.8%9.2%9.7%5.0%5.0%5.0%5.0%5.0%5.6%4.6%3.7%3.8%3.9%4.2%4.7%資本充裕的超額資本2019 2020 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022資本和流動性來源一級槓桿率基於風險的資本權益比率主要和二級流動性來源12月31日2022年現金和現金等價物104美元未擔保投資證券1,324 FHLB和FRB借款可用性1,273聯邦基金額度215經紀CD能力889總計$3,805 9.0%
股東回報
33 TOTAL SHAREHOLDER RETURN Stock Summary Ticker HFWA Exchange NASDAQ Stock price $29.45 Market capitalization (in billions) $1,033.8 Dividend yield (regular dividend only) 2.85% Average Daily Volume (3 month) Average daily volume (shares) 191,985 Average daily volume ($000s) $5,654 52-Week High and Low Price 52-week high (November 10, 2022) 34.34 52-week low (January 31, 2022) 23.31 Per Share Tangible book value per share $15.66 EPS - 2022E $2.29 EPS - 2023E $2.61 Number of research analysts 6 Valuation Ratios Price / Tangible book value 188.1% Price / 2022E EPS 12.8x Price / 2023E EPS 11.3x Dividends Per Share Declared $0.50 $0.53 $0.72 $0.61 $0.72 $0.84 $0.80 $0.81 $0.84 $0.08 $0.10 $0.11 $0.12 $0.15 $0.18 $0.20 $0.20 $0.21$0.08 $0.11 $0.12 $0.13 $0.15 $0.18 $0.20 $0.20 $0.21 $0.09 $0.11 $0.12 $0.13 $0.15 $0.19 $0.20 $0.20 $0.21 $0.09 $0.11 $0.12 $0.13 $0.17 $0.19 $0.20 $0.21 $0.21 $0.16 $0.10 $0.25 $0.10 $0.10 $0.10 Q1 Q2 Q3 Q4 Special dividends 2014 2015 2016 2017 2018 2019 2020 2021 2022 Diluted Earnings Per Share – Market information as of January 10, 2023. – Dividend information as of January 26, 2023. $0.79 $1.25 $1.30 $1.39 $1.49 $1.83 $1.29 $2.73 $2.30 $0.16 $0.32 $0.30 $0.31 $0.27 $0.45 $0.34 $0.70 $0.56$0.16 $0.29 $0.30 $0.40 $0.35 $0.43 -$0.17 $0.90 $0.52 $0.23 $0.32 $0.37 $0.35 $0.42 $0.48 $0.46 $0.58 $0.59 $0.24 $0.32 $0.33 $0.33 $0.45 $0.47 $0.66 $0.55 $0.64 Q1 Q2 Q3 Q4 2014 2015 2016 2017 2018 2019 2020 2021 2022
附錄--非公認會計準則財務計量和季度財務統計的對賬
35 NON-GAAP FINANCIAL MEASURES 2019 2020 2021 2022 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 PTPP Income and PTPP ROAA: Net income (GAAP) $67,557 $46,570 $98,035 $81,875 $19,397 $19,757 $18,584 $20,990 $22,544 Exclude income tax expense 13,488 6,610 22,472 17,561 4,922 3,582 3,977 4,657 5,345 Exclude provision for (reversal of provision for) credit losses 4,311 36,106 (29,372) (1,426) (5,037) (3,577) (1,204) 1,945 1,410 PTPP income (non-GAAP) $85,356 $89,286 $91,135 $98,010 $19,282 $19,762 $21,357 $27,592 $29,299 Average total assets $5,411,078 $6,293,622 $7,126,250 $7,321,455 $7,403,597 $7,434,787 $7,385,616 $7,367,736 $7,100,844 ROAA, annualized (GAAP) 1.25 % 0.74 % 1.38 % 1.12 % 1.04 % 1.08 % 1.01 % 1.13 % 1.26 % PTPP ROAA, annualized (non-GAAP) 1.58 % 1.42 % 1.28 % 1.34 % 1.03 % 1.08 % 1.16 % 1.49 % 1.64 % Loan Yield, excluding SBA PPP Loans, annualized: Interest and fees on loans (GAAP) $189,515 $192,417 $189,832 $174,275 $42,695 $41,025 $40,890 $43,847 $48,513 Exclude impact on loan yield from SBA PPP loan interest and fees — (19,472) (32,109) (5,215) (4,928) (3,081) (1,782) (275) (77) Adjusted interest and fees on loans (non- GAAP) $189,515 $172,945 $157,723 $169,060 $37,767 $37,944 $39,108 $43,572 $48,436 Average loans receivable, net (GAAP) $3,668,665 $4,335,564 $4,181,464 $3,852,604 $3,836,029 $3,773,325 $3,812,045 $3,859,839 $3,963,042 Exclude average SBA PPP loans — (589,635) (549,422) (37,533) (204,436) (109,594) (34,090) (5,726) (2,250) Adjusted average loans receivable, net (non-GAAP) $3,668,665 $3,745,929 $3,632,042 $3,815,071 $3,631,593 $3,663,731 $3,777,955 $3,854,113 $3,960,792 Loan yield, annualized (GAAP) 5.17 % 4.44 % 4.54 % 4.52 % 4.42 % 4.41 % 4.30 % 4.51 % 4.86 % Loan yield, excluding SBA PPP loans, annualized (non-GAAP) 5.17 % 4.62 % 4.34 % 4.43 % 4.13 % 4.20 % 4.15 % 4.49 % 4.85 % – Dollars in thousands – ROAA - Return on average assets – PTPP - Pre-tax, pre-provision
36 2019 2020 2021 2022 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 ROATCE: Net income (GAAP) $67,557 $46,570 $98,035 $81,875 $19,397 $19,757 $18,584 $20,990 $22,544 Add amortization of intangible assets 4,001 3,525 3,111 2,750 759 704 704 671 671 Exclude tax effect of adjustment (840) (740) (653) (578) (159) (148) (148) (141) (141) Tangible net income (non-GAAP) $70,718 $49,355 $100,493 $84,047 $19,997 $20,313 $19,140 $21,520 $23,074 Average stockholders' equity (GAAP) $789,502 $805,580 $842,067 $811,942 $849,383 $846,085 $810,961 $811,052 $780,401 Exclude average intangible assets (259,667) (255,898) (252,540) (249,566) (251,331) (250,593) (249,890) (249,245) (248,560) Average tangible common stockholders' equity (non-GAAP) $529,835 $549,682 $589,527 $562,376 $598,052 $595,492 $561,071 $561,807 $531,841 ROAE, annualized (GAAP) 8.56 % 5.78 % 11.64 % 10.08 % 9.06 % 9.47 % 9.19 % 10.27 % 11.46 % ROATCE, annualized (non-GAAP) 13.35 % 8.98 % 17.05 % 14.94 % 13.27 % 13.83 % 13.68 % 15.20 % 17.21 % Net Interest Margin, excluding Incremental Accretion on Purchased Loans, annualized: Net interest income (GAAP) $199,682 $200,997 $205,789 $219,385 $47,908 $46,944 $50,048 $59,286 $63,107 Exclude incremental accretion on purchased loans (4,876) (3,446) (2,638) (1,436) (387) (584) (270) (398) (184) Adjusted net interest income (non-GAAP) $194,806 $197,551 $203,151 $217,949 $47,521 $46,360 $49,778 $58,888 $62,923 Average total interest earning assets, net $4,729,885 $5,535,236 $6,381,048 $6,547,040 $6,671,984 $6,694,578 $6,612,958 $6,592,361 $6,292,188 Net interest margin, annualized (GAAP) 4.22 % 3.63 % 3.23 % 3.35 % 2.85 % 2.84 % 3.04 % 3.57 % 3.98 % Net interest margin, excluding incremental accretion on purchased loans, annualized (non-GAAP) 4.12 % 3.57 % 3.18 % 3.33 % 2.83 % 2.81 % 3.02 % 3.54 % 3.97 % NON-GAAP FINANCIAL MEASURES – Dollars in thousands – ROATCE - Return on average tangible common equity – ROAE - Return on average equity
37 2019 2020 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Tangible Common Equity to Tangible Assets and Tangible Common Equity to Tangible Assets, excluding AOCI: Total stockholders' equity (GAAP) $809,311 $820,439 $854,432 $821,449 $805,366 $776,702 $797,893 Exclude intangible assets (257,552) (254,027) (250,916) (250,212) (249,508) (248,837) (248,166) Tangible common equity (non-GAAP) $551,759 $566,412 $603,516 $571,237 $555,858 $527,865 $549,727 Exclude AOCI 10,378 25,018 9,396 (34,228) (61,783) (105,001) (99,850) Tangible common equity, excluding AOCI (non-GAAP) $541,381 $541,394 $594,120 $605,465 $617,641 $632,866 $649,577 Total assets (GAAP) $5,552,970 $6,615,318 $7,432,412 $7,483,814 $7,316,467 $7,200,312 $6,980,100 Exclude intangible assets (257,552) (254,027) (250,916) (250,212) (249,508) (248,837) (248,166) Tangible assets (non-GAAP) $5,295,418 $6,361,291 $7,181,496 $7,233,602 $7,066,959 $6,951,475 $6,731,934 Exclude unrealized gain or loss of investment securities available for sale, net of tax 10,378 25,018 9,396 (34,228) (61,783) (105,001) (99,850) Tangible assets, excluding AOCI (non-GAAP) $5,285,040 $6,336,273 $7,172,100 $7,267,830 $7,128,742 $7,056,476 $6,831,784 Stockholders' equity to total assets (GAAP) 14.6 % 12.4 % 11.5 % 11.0 % 11.0 % 10.8 % 11.4 % Tangible common equity to tangible assets (non-GAAP) 10.4 8.9 8.4 7.9 7.9 7.6 8.2 Tangible common equity, excluding AOCI, to tangible assets, excluding UGL 10.2 % 8.5 % 8.3 % 8.3 % 8.7 % 9.0 % 9.5 % ACL on Loans to Loans Receivable, excluding SBA PPP Loans: Allowance for credit losses on loans $36,171 $70,185 $42,361 $40,333 $39,696 $42,089 $42,986 Loans receivable (GAAP) $3,767,879 $4,468,647 $3,815,662 $3,821,178 $3,874,064 $4,001,295 $4,050,858 Exclude SBA PPP loans — (715,121) (145,840) (64,962) (11,334) (3,593) (1,468) Loans receivable, excluding SBA PPP (non-GAAP) $3,767,879 $3,753,526 $3,669,822 $3,756,216 $3,862,730 $3,997,702 $4,049,390 ACL on loans to loans receivable (GAAP) 0.96 % 1.57 % 1.11 % 1.06 % 1.02 % 1.05 % 1.06 % ACL on loans to loans receivable, excl. SBA PPP loans (non-GAAP) 0.96 % 1.87 % 1.15 % 1.07 % 1.03 % 1.05 % 1.06 % NON-GAAP FINANCIAL MEASURES – Dollars in thousands
38 2009 2010 2011 2012 2013 2014 2015 2016 Tangible Book Value Per Share: Total stockholders' equity (GAAP) $158,498 $202,279 $202,520 $198,938 $215,762 $454,506 $469,970 $481,763 Exclude intangible assets (13,358) (14,965) (14,525) (14,098) (30,980) (129,918) (127,818) (126,403) Exclude preferred stock (23,487) — — — — — — — Tangible common equity (non-GAAP) $121,653 $187,314 $187,995 $184,840 $184,782 $324,588 $342,152 $355,360 Exclude AOCI (233) 377 1,736 1,744 (1,162) 3,378 2,559 (2,606) Tangible common equity, excluding AOCI (non-GAAP) $ 121,886 $ 186,937 $ 186,259 $ 183,096 $ 185,944 $ 321,210 $ 339,593 $ 357,966 Shares outstanding 11,057,972 15,568,471 15,456,297 15,117,980 16,210,747 30,259,838 29,975,439 29,954,931 Book value per share (GAAP) $12.21 $12.99 $13.10 $13.16 $13.31 $15.02 $15.68 $16.08 Tangible book value per share (non-GAAP) $11.00 $12.03 $12.16 $12.23 $11.40 $10.73 $11.41 $11.86 Tangible book value per share, excluding AOCI (non-GAAP) $11.02 $12.01 $12.05 $12.11 $11.47 $10.62 $11.33 $11.95 NON-GAAP FINANCIAL MEASURES – Dollars in thousands
39 Tangible Book Value Per Share (continued): 2017 2018 2019 2020 2021 2022 Q1 Q2 Q3 Q4 Total stockholders' equity (GAAP) $505,305 $760,723 $809,311 $820,439 $854,432 $821,449 $805,366 $776,702 $797,893 Exclude intangible assets (125,117) (261,553) (257,552) (254,027) (250,916) (250,212) (249,508) (248,837) (248,166) Tangible common equity (non- GAAP) $380,188 $499,170 $551,759 $566,412 $603,516 $571,237 $555,858 $527,865 $549,727 Exclude AOCI (1,298) (7,455) 10,378 25,018 9,396 (34,228) (61,783) (105,001) (99,850) Tangible common equity, excluding AOCI (non-GAAP) 381,486 506,625 541,381 541,394 594,120 605,465 617,641 632,866 649,577 Shares outstanding 29,927,746 36,874,055 36,618,729 35,912,243 35,105,779 35,102,372 35,103,929 35,104,248 35,106,697 Book value per share (GAAP) $16.88 $20.63 $22.10 $22.85 $24.34 $23.40 $22.94 $22.13 $22.73 Tangible book value per share (non-GAAP) $12.70 $13.54 $15.07 $15.77 $17.19 $16.27 $15.83 $15.04 $15.66 Tangible book value per share, excluding AOCI (non-GAAP) $12.75 $13.74 $14.78 $15.08 $16.92 $17.25 $17.59 $18.03 $18.50 NON-GAAP FINANCIAL MEASURES – Dollars in thousands
40截至期末或截至2022年12月31日的三個月2022年6月30日2022年9月30日2022年12月31日盈利性:淨收益(GAAP)$19,397$19,757$18,584$20,990$22,544税前淨收益(非GAAP)19,282 19,762 21,357,592 29,299稀釋後每股收益$0.55$0.56$0.52$0.59$0.64平均資產回報率(GAAP)1.04%1.08%1.01%1.13%1.26%税前,撥備前平均資產回報率(非GAAP)1.03 1.08 1.16 1.49 1.64平均普通股權益回報率(GAAP)9.06 9.47 9.19 10.27 11.46有形普通股權益(非GAAP)13.27 13.83 13.68 15.20 17.21淨息差2.85 2.84 3.04 3.57 3.98效率比率66.6 64.4 62.6 58.7 58.0非利息支出與平均總額之比資產2.06%1.95%1.94%2.11%2.26%資產負債表:總資產7美元應收貸款淨額3,773,301 3,780,845 3,834,368 3,959,206 4,007,872存款總額6,394,290美元6,491,500美元6,330,190美元6,237,735美元5,924840貸存比率59.7%58.9%61.2%64.1%68.4%資本:每股賬面價值(GAAP)$24.34$23.40$22.94$22.13$22.73每股有形賬面價值(非GAAP)$17.19$16.27$15.83$15.04$15.66每股有形賬面價值,不包括AOCI(非GAAP)$16.92$17.25$17.59$18.03$18.50槓桿率8.7%8.8%8.9%9.2%9.7%總資本比率14.8%14.7%14.7%14.4%14.0%14.0%信用質量:不良資產佔總資產0.32%0.22%0.14%0.09%應收貸款(GAAP)1.11 1.06 1.02 1.05 1.06關於應收貸款貸款的acl,不包括SBA PPP(非GAAP)1.15%1.07%1.03%1.05%1.06%-以千美元為單位-非GAAP財務指標的計算請參閲附錄。季度財務統計數據