IPO Company Profile
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Heritage Financial Corporation of Olympia, WA
201 5th Avenue S.W., Olympia, WA 98501 * (360) 943-1500

The company is the holding company for Heritage Bank. The bank traditionally has offered a variety of savings products and originated one-to-four family mortgage loans and, to a lesser extent, multifamily, commercial real estate and construction loans.

Primary Underwriting Group
ManagerTierPhone
Ryan, Beck & Co.Lead Manager (201) 325-3000

Offering Information
NASNTL:HFWA Financial: SIC 6036
Type of Shares:Common Shares Filing Date:9/12/97
U.S. Shares:6,162,500 Offer Date:1/8/98
Non-U.S. Shares:0 Filing Price:$10.00
Primary Shares:6,162,500 Offer Price:$10.00
Secondary Shares:0 Gross Spread:$0.00
Offering Amount: $61,625,000 Selling:$0.00
Expenses:$0 Reallowance:$0.00
Post-IPO Shares: -

Legal Counsel, Auditor and Registrar
Issuer's Law Firm: Gordon, Thomas, Honeywell, Malanca, Peterson
Bank's Law Firm: Breyer & Aguggia
Auditor: KPMG Peat Marwick

Selected Financial Data

Dollar amounts in U.S. millions except for per share data
Full Year
Audited
Income
Latest
Unaudited
Income
Prior
Unaudited
Income
Balance
Sheet
6/30/97 6/30/97
Revenue:$12.86Assets:$242.16
Net Income:$2.27Curr Assets:
EPS:Liabilities:$214.45
Prior EPS:Curr Liab:
Cash Flow/Oper:$1.70Equity:$27.71
Cash Flow/Fin:$19.30Cash:$7.41
Cash Flow/Inv:-$31.50

Use of Proceeds
The proceeds from the proposed offering will be used for general corporate purposes.

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