HIGHBuilt-inLoan_portfolio
81.7%
commercial business loans
“10-K Item 1: 'At December 31, 2025, we had $3.91 billion, or 81.7% of our loans receivable, in commercial business loans.'”
HFWA · Concentration risk · 10-K extracted
Heritage Financial (HFWA) concentration risks
Updated
The most significant concentration Heritage Financial discloses is commercial business loans at 81.7%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Heritage Financial’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH2
MEDIUM1
LOW1
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHBuilt-inLoan_portfolio
79.3%
real estate-secured loans
“10-K Item 1A: 'At December 31, 2025, approximately 79.3% of the Company's total loan portfolio was comprised of loans with real estate as the primary component of collateral.'”
MEDIUMBuilt-inGeographic
Washington, Oregon and Idaho
“10-K Item 1A: 'The Company's business activities and credit exposure, including real estate collateral for many of its loans, are concentrated in the states of Washington, Oregon and Idaho'”
LOWBuilt-inLoan_portfolio
17.1%
commercial and industrial loans
“10-K Item 1A: 'Commercial and industrial loans represented 17.1% of the Company's total loan portfolio at December 31, 2025.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06Heritage Financial's loan book shows two large, overlapping structural concentrations: commercial business loans account for 81.7% of loans receivable, and real estate serves as the primary collateral for 79.3% of the total portfolio — figures that overlap substantially given that much commercial lending is real-estate secured. Lending is also geographically concentrated in Washington, Oregon and Idaho, tying credit performance to that regional economy specifically. Commercial and industrial loans, a subset often viewed as higher risk than owner-occupied commercial real estate, are a comparatively small 17.1% of the book. None of these exposures reflects dependence on a single borrower or counterparty; they are structural features of how the bank has built its balance sheet in its home markets. Taken together, the picture is a bank whose fortunes are closely tied to commercial and real-estate-collateralized credit within a three-state footprint — a downturn in that regional economy or in commercial real estate values broadly is the scenario most likely to move the verdict, while the smaller commercial and industrial slice is unlikely to matter much on its own.
For the engine’s reasoning on HFWA’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Banks - Regional
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| HFWA● | Heritage Financial Corporation | 2 | 1 | 1 | 4 |
| AMAL | Amalgamated Financial Corp. | 2 | 1 | 0 | 3 |
| ACNB | ACNB Corporation | 1 | 1 | 0 | 2 |
| ALRS | Alerus Financial Corporation | 1 | 1 | 0 | 2 |
| AMTB | Amerant Bancorp Inc. | 0 | 1 | 1 | 2 |
| ABCB | Ameris Bancorp | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.