Heritage Financial Authorizes Stock Repurchase Program Up To 5%
Heritage Financial Corporation (Nasdaq: HFWA), announced that its Board of Directors has authorized the repurchase of up to 5% of the Company's outstanding shares or approximately 757,000 shares. The number, timing and price of shares repurchased will depend on business and market conditions, and other factors, including opportunities to deploy the Company's capital. The repurchase program may be discontinued at any time.
The new stock repurchase program follows the previous stock repurchase program, which allowed for the buyback of approximately 782,000 shares and expired August 23, 2012. Under the previous program, 590,832 shares were repurchased.
As of June 30, 2012, the Company had consolidated total assets of $1.34 billion and shareholder's equity of $200.1 million with tangible common equity to tangible assets at 14.0%.
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