Heritage Bank is a state-chartered bank headquartered in Olympia, Washington, in business for about 99 years. At the end of Q2 2026 it reported $8.4B in total assets and $7.0B in deposits, with 68 offices across 3 states.
Based on its Q2 2026 filing, Heritage Bank scores 68/100, which we describe as moderate. That is higher than only 49% of 897 banks with $1 billion – $10 billion. Among 29 banks headquartered in Washington, it ranks 13th. Its strongest component is problem-loan coverage (97/100; 1.4%), and its lowest is funding & liquidity (52/100; 81% loans-to-deposits, 39% uninsured).
TellerScore · Q2 2026
Scorecard
The TellerScore is our own summary of the figures this institution reports publicly; it is not issued or endorsed by any government agency. It is not a prediction, and deposits within insurance limits are protected either way.
9 quarters
Health trend
From Q2 2025 to Q2 2026, the score rose 3 points (65 → 68), mostly because the earnings component improved by 8 points.
Show as table
| Quarter | TellerScore |
|---|---|
| Q2 2024 | 66 |
| Q3 2024 | 65 |
| Q4 2024 | 66 |
| Q1 2025 | 68 |
| Q2 2025 | 65 |
| Q3 2025 | 66 |
| Q4 2025 | 68 |
| Q1 2026 | 69 |
| Q2 2026 | 68 |
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| Quarter | Tier 1 leverage ratio |
|---|---|
| Q2 2024 | 9.95% |
| Q3 2024 | 9.86% |
| Q4 2024 | 9.91% |
| Q1 2025 | 10.04% |
| Q2 2025 | 10.18% |
| Q3 2025 | 10.38% |
| Q4 2025 | 10.70% |
| Q1 2026 | 10.10% |
| Q2 2026 | 10.23% |
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| Quarter | Noncurrent loans |
|---|---|
| Q2 2024 | 0.18% |
| Q3 2024 | 0.23% |
| Q4 2024 | 0.11% |
| Q1 2025 | 0.09% |
| Q2 2025 | 0.39% |
| Q3 2025 | 0.44% |
| Q4 2025 | 0.44% |
| Q1 2026 | 0.26% |
| Q2 2026 | 0.27% |
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| Quarter | Return on assets |
|---|---|
| Q2 2024 | 0.66% |
| Q3 2024 | 0.68% |
| Q4 2024 | 0.71% |
| Q1 2025 | 0.89% |
| Q2 2025 | 0.84% |
| Q3 2025 | 0.96% |
| Q4 2025 | 1.07% |
| Q1 2026 | 1.15% |
| Q2 2026 | 1.05% |
| Quarter | Score | Assets | Capital | Problem loans | ROA | Loans/deposits |
|---|---|---|---|---|---|---|
| Q2 2026 | 68 | $8.4B | 10.23% | 0.27% | 1.05% | 80.8% |
| Q1 2026 | 69 | $8.5B | 10.10% | 0.26% | 1.15% | 78.0% |
| Q4 2025 | 68 | $7.0B | 10.70% | 0.44% | 1.07% | 79.8% |
| Q3 2025 | 66 | $7.0B | 10.38% | 0.44% | 0.96% | 80.4% |
| Q2 2025 | 65 | $7.1B | 10.18% | 0.39% | 0.84% | 81.6% |
| Q1 2025 | 68 | $7.1B | 10.04% | 0.09% | 0.89% | 80.6% |
| Q4 2024 | 66 | $7.1B | 9.91% | 0.11% | 0.71% | 83.5% |
| Q3 2024 | 65 | $7.1B | 9.86% | 0.23% | 0.68% | 81.1% |
| Q2 2024 | 66 | $7.1B | 9.95% | 0.18% | 0.66% | 81.2% |
897 peers · $1 billion – $10 billion
How it compares with peers
Percentile against banks of similar size nationwide (100th = best among peers; for ratios where lower is better, the scale is flipped).
Similar-size banks in Washington
| Institution | Score | Assets | Capital | Problem loans | Compare |
|---|---|---|---|---|---|
| Coastal Community BankBank Everett, WA | 35 out of 100, Low | $5.5B | 9.1% | 2.27% | vs |
| 1st Security Bank of WashingtonBank Mountlake Terrace, WA | 67 out of 100, Moderate | $3.2B | 11.4% | 0.58% | vs |
| Peoples BankBank Bellingham, WA | 78 out of 100, Strong | $2.4B | 13.3% | 0.11% | vs |
| Cashmere Valley BankBank Cashmere, WA | 79 out of 100, Strong | $2.3B | 12.5% | 0.35% | vs |
| First Fed BankBank Port Angeles, WA | 49 out of 100, Below average | $2.1B | 9.6% | 1.28% | vs |
| Timberland BankBank Hoquiam, WA | 78 out of 100, Strong | $2.1B | 12.9% | 0.56% | vs |
Deposit insurance
Is my money safe at Heritage Bank?
Yes. Heritage Bank is an FDIC-insured institution (FDIC certificate #29012). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category.
An estimated 39.1% of deposits ($2.8B) are above the $250,000 FDIC insurance limit, above the peer median of 31%. Insured balances are protected regardless of the score.
The tier 1 leverage ratio is 10.23%, well above the 5% level regulators use as the "well capitalized" benchmark for this measure. Its total risk-based capital ratio is 13.23% (benchmark: 10%).
68 locations
Branches
Heritage Bank lists 66 offices in 52 cities across 3 states. Most locations:
- Tacoma, WA (5)
- Portland, OR (3)
- Puyallup, WA (3)
- Bellingham, WA (2)
- Bremerton, WA (2)
- Gig Harbor, WA (2)
- Olympia, WA (2)
- Port Orchard, WA (2)
- Yakima, WA (2)
- Anacortes, WA (1)
- Arlington, WA (1)
- Auburn, WA (1)
HMDA 2025
Mortgage lending
In 2025, Heritage Bank reported 638 home-loan applications under HMDA (LEI 549300Z2B4FHRYOXTS09): 372 originated ($214,270,000 total), 227 denied, and 10 withdrawn or closed by the applicant. Its denial rate on decided applications was 36.1%, compared with 22.2% for all lenders nationwide.
Denial rates depend heavily on loan type and applicant mix and are not a measure of fairness or of your own odds.
Identity & history
Profile
- Legal name
- Heritage Bank
- Former names
- Heritage Savings Bank; Heritage Federal Savings and Loan Association; Heritage Bank, A Federal Savings Bank
- Type
- State-chartered bank
- FDIC certificate #
- 29012
- RSSD ID
- 881478
- Primary regulator
- FDIC
- Holding company
- Heritage Financial Corp
- Established
- January 1, 1927
- Headquarters
- 201 5th Ave Sw, Olympia, WA 98501
- Website
- www.heritagebanknw.com
- Employees
- 981
Quick answers
Heritage Bank: common questions
Is Heritage Bank FDIC insured?
Yes. Heritage Bank is an FDIC-insured institution (FDIC certificate #29012). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category.
What is Heritage Bank's TellerScore?
68 out of 100 (Moderate), based on its Q2 2026 publicly reported figures. The TellerScore is our own summary and is not issued by any government agency.
Has Heritage Bank ever failed?
There is no failure record for FDIC certificate #29012 in the FDIC failed bank list.
How many branches does Heritage Bank have?
68 offices as of the latest FDIC data, in 3 states.
Nearby
Highest-scoring banks and credit unions with branches near Olympia
| Institution | Score | Assets | Capital | Problem loans | Compare |
|---|---|---|---|---|---|
| Wcla Credit UnionCredit union Olympia, WA | 86 out of 100, Very strong | $141.9M | 17.5% | 0.29% | vs |
| Armed Forces Bank, National AssociationBank Fort Leavenworth, KS | 83 out of 100, Strong | $1.4B | 13.9% | 1.21% | vs |
| Our Community Credit UnionCredit union Shelton, WA | 82 out of 100, Strong | $638.3M | 12.7% | 0.48% | vs |
| Sound Banking CompanyBank Lakewood, WA | 82 out of 100, Strong | $45.2M | 12.1% | 0.00% | vs |
| Timberland BankBank Hoquiam, WA | 78 out of 100, Strong | $2.1B | 12.9% | 0.56% | vs |
| Tapco Credit UnionCredit union Fircrest, WA | 78 out of 100, Strong | $735.7M | 10.2% | 0.34% | vs |