Heritage Bank: how it compares with its peers
Against 214 U.S. banks with half to twice its assets, Heritage Bank's strongest measure in Q2 2026 is net interest margin (4.12% vs. a 3.69% peer median). Its weakest relative measure is efficiency ratio (67.54% vs. 54.95%).
| Measure | Heritage Bank | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 1.05% | 1.33% | Bottom third Ahead of 27% of peers |
| Net interest margin Annualized net interest income over earning assets. | 4.12% | 3.69% | Top third Ahead of 77% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 67.54% | 54.95% | Bottom third Ahead of 16% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $8.6M | $10.0M | Bottom third Ahead of 30% of peers |
| Loans to deposits Net loans and leases over total deposits. | 80.76% | 88.63% | Context |
What it means for lending operations
Its efficiency ratio of 67.54% is above the 54.95% peer median: it spends more to earn each dollar of revenue than most banks its size. Staff time on manual borrower verification (collecting pay stubs, bank statements, and employment letters, then re-keying them) is one of the larger controllable costs behind that number.
Banks closest in size
- German American Bank Jasper, IN · $8.43B
- CNB Bank Clearfield, PA · $8.41B
- BankPlus Belzoni, MS · $8.38B
- Forbright Bank Potomac, MD · $8.48B
- Cross River Bank Fort Lee, NJ · $8.53B
- Poppy Bank Santa Rosa, CA · $8.32B
Questions about Heritage Bank
How big is Heritage Bank?
Heritage Bank, established in 1927, is headquartered in Olympia, WA. It reported $8.42B in total assets in its Q2 2026 FDIC call report and operates 68 offices.
What is Heritage Bank's return on assets?
1.05% annualized in Q2 2026, against a 1.33% median for 214 U.S. banks with half to twice its assets, ahead of 27% of them.
What is Heritage Bank's efficiency ratio?
67.54% in Q2 2026: it spent about 68 cents in noninterest expense for each dollar of revenue. The peer median is 54.95%, and lower is better.
Is Heritage Bank growing its loans?
Net loans grew 20.5% over the year to Q2 2026, while deposits grew 21.7%.
Sources and method
Figures are from the FDIC’s public call report data for the quarter ending 06/30/2026, via FDIC BankFind. Return on assets and net interest margin are annualized year to date. Peers are U.S. banks with half to twice its assets in the same quarter, excluding this bank. The page refreshes daily, so new quarters appear as banks file. Compare another bank or see every Washington bank ranked.