Heritage Bank

201 5th Avenue, S.W.
Olympia, WA 98501

Notable Rates APY Vs.Others
Savings 0.04% 1.90% →
1-Year CD 0.30% 1.90% →
2-Year CD 0.35% 1.95% →
5-Year CD 0.75% 2.00% →
30-Year Mortgage N.A. 3.14% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.50% →

2020 Overview

General Bank Information

Heritage Bank is an FDIC insured institution located in Olympia, WA. It was founded in 1927 and has approximately $5.55 billion in assets. Customers can open an account at one of its 74 branches.

FDIC Insured Yes
FDIC Certificate # 29012
Date Established 1927
Assets $5.55 billion
Loans $3.74 billion
Deposits $4.62 billion
Capital $0.81 billion

For a more detailed analysis of Heritage Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - April 8, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Money Market
0.05% $1 $4,999 Learn MoreShow Less
Money Market
0.03% $1 $9,999 Learn MoreShow Less
Money Market
0.06% $10,000 $24,999 Learn MoreShow Less
Money Market
0.08% $10,000 $24,999 Learn MoreShow Less
Money Market
0.13% $25,000 $49,999 Learn MoreShow Less
Money Market
0.08% $25,000 $49,999 Learn MoreShow Less
3 Mo CD
0.03% $2,500 $24,999 Learn MoreShow Less
3 Mo CD
0.10% $50,000 - Learn MoreShow Less
6 Mo CD
0.05% $1 $24,999 Learn MoreShow Less
6 Mo CD
0.20% $50,000 - Learn MoreShow Less
Special: 9 Mo CD
0.30% $2,500 $24,999 Learn MoreShow Less
Special: 9 Mo CD
0.75% $50,000 - Learn MoreShow Less
Special: 11 Mo CD
0.30% $2,500 $24,999 Learn MoreShow Less
Special: 11 Mo CD
0.75% $50,000 - Learn MoreShow Less

Fixed IRA
0.25% $1 $24,999 Learn MoreShow Less
Int Checking Rates APY MIN MAX
0.04% $1 $9,999 Learn MoreShow Less
Int Ckg
0.03% $1 $9,999 Learn MoreShow Less

Loan Rates - April 8, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Heritage Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Connecticut 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Learn More
Rocket Mortgage
NMLS ID: 3030
4.417% 4.375% 0.00 $1,250 $1,249 Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
4.668% 4.625% 0.00 $1,250 $1,286 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
People's United Bank, N.A.
People's United Bank, N.A.
3.500 %
$0 Learn More
More Info

Note to Heritage Bank
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Heritage Bank Locations

Financial Details

Heritage Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Heritage Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Heritage Bank U.S. Bank Average
5.38% 6.51%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of December 31, 2019, Heritage Bank had $44,529,000 in non-current loans and $841,000 in owned real estate. To cover these potential losses it had $806,718,000 in equity and $36,171,000 in loans loss reserves. That gives it a Texas Ratio of 5.38%.

Return on Equity
Heritage Bank U.S. Bank Average
9.1% 9.41%

Heritage Bank has a Return on Equity of 9.1% versus the BestCashCow average of 9.41%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Heritage Bank U.S. Bank Average
14.53% 12.82%

Heritage Bank has a Capitalization of 14.53% versus the BestCashCow average of 12.82. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Heritage Bank Balance Sheet Analysis

As of December 31, 2019, Heritage Bank had assets of $5,550,690,000, loans of $3,737,241,000, and deposits of $4,618,285,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

December 31, 2019
Cash & Balances due from depository institutions $0.23 billion
Interest-bearing balances $0.13 billion
Total securities $0.95 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $3.74 billion
Loan loss allowance $0.04 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.26 billion
All other assets $0.26 billion
     Total Assets $4.74 billion
Total deposits $4.62 billion
      Interest-bearing deposits $3.14 billion
      Deposits held in domestic offices $4.62 billion
      % insured (estimated) 67.12%
Federal funds purchased and repurchase agreements $0.02 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.02 billion
Subordinated debt $0.00 billion
All other liabilities $0.08 billion
      Total Liabilities $4.74 billion
      Shareholders’ Equity $0.81 billion

Summary Income Statement

December 31, 2019
Total Interest Income $0.22 billion
Total Interest Expense $0.02 billion
Net interest income $0.20 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.03 billion
Total non interest expense $0.14 billion
Pre-tax Net Operating Income $0.09 billion

Bank Loan Profile?

The top three loan types in Heritage Bank’s loan portfolio are Commercial Real Estate, Commercial and Industrial Loans, and Small Business Loans.

Compared to other banks in Washington, Heritage Bank has a significantly higher percent of Consumer Auto Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 9.59
Credit Card Loans 0.20
Consumer Auto Loans 7.52
Small Business Loans 10.69
Construction and Development Loans 6.99
Commercial Real Estate 49.67
Commercial and Industrial Loans 14.11
Farm Loans 1.10

Frequently Asked Questions About Heritage Bank

Branches and Savings

Is Heritage Bank FDIC insured?

Yes. It is covered under FDIC Certificate #29012.

Why does Heritage Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Heritage Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Heritage Bank a commercial bank?


Where are Heritage Bank locations?

See branch locations nearby.

Is Heritage Bank open on Saturdays?

Is Heritage Bank open on Sundays?

What time does Heritage Bank open?

What time does Heritage Bank close?

Are Heritage Bank ATMs Open 24/7?

Do Heritage Bank ATMs accept cash deposits?

Can Heritage Bank customers use other ATMs?

Do Heritage Bank branches have notaries?

Will Heritage Bank notarize my document?

What address for Heritage Bank should I put for incoming ACH transfers?

Will the Heritage Bank branch print checks?

Do Heritage Bank checks expire?

Does Heritage Bank require US citizenship to open account?

Can Heritage Bank close my account?

Does Heritage Bank Report to credit bureaus?

Does Heritage Bank Use Equifax?

What is Heritage Bank's ACH Routing Number?

What is Heritage Bank's SWIFT code?


Does Heritage Bank offer mortgages?

Compare mortgage rates here.

Does Heritage Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Heritage Bank offer personal loans?

Compare personal loan rates here.

Does Heritage Bank offer student loans?

Will Heritage Bank cash a check?

Will Heritage Bank redeem a savings bond?

Does Heritage Bank cash savings bonds?

Will Heritage Bank cash money orders?

Can Heritage Bank issue a money order?

Does Heritage Bank do currency exchange?

Background on The Bank

Who owns Heritage Bank?

How long has Heritage Bank been around?

Can Heritage Bank transfer to other banks?

Does Heritage Bank have quick pay?

Does Heritage Bank accept rolled coins?

Will Heritage Bank accept loose change?

Where is Heritage Bank headquarters?

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