Add as a preferred source on GoogleHeritage Financial Lowers Fourth-Quarter Expense Outlook to $55 Million to $56 Million
The Kitsap Bank systems conversion was completed as planned in late September. Heritage recorded $5.185 million in merger-related costs in the third quarter.
Heritage Financial Corporation (Nasdaq: HFWA) lowered its fourth-quarter noninterest expense outlook to $55 million to $56 million, following completion of the Kitsap Bank systems conversion in late September.
President and CEO Bryan McDonald said the conversion was completed as planned. Heritage recorded $5.185 million in merger-related costs in the third quarter after the conversion and closure of two branches.
Heritage bought Kitsap Bank’s parent company, Olympic Bancorp, Inc., on Jan. 31. The costs are included in the company’s third-quarter results.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.