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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 26, 1999
HERITAGE FINANCIAL CORPORATION
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(Exact name of registrant as specified in its charter)
WASHINGTON 0-29480 91-1857900
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(State or other jurisdiction (Commission IRS Employer
of incorporation) File Number) Identification No.
205 Fifth Avenue S.W.
Olympia WA 98501
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(Address of principal executive officers: (Zip Code)
Registrant's telephone number, including area code: (360) 943-1500
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ITEM 5 -- OTHER EVENTS
On April 26, 1999, Heritage Financial Corporation announced that its Board of
Directors had authorized the purchase of up to 100,000 of its outstanding shares
in the open market or in privately negotiated transactions. The news release
regarding this repurchase is attached to this filing.
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ITEM 7 -- FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements -- not applicable
(b) Pro forma financial information -- not applicable
(c) Exhibits:
99 News Release issued by Heritage, dated April 26, 1999
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
Dated: April 29, 1999
HERITAGE FINANCIAL CORPORATION
By: /s/ Donald V. Rhodes
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Donald V. Rhodes
Chairman, President and
Chief Executive Officer
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EXHIBIT 99
FOR IMMEDIATE RELEASE
For Further Information Contact: Donald V. Rhodes
Chairman, President and CEO
360/943-1500
HERITAGE FINANCIAL CORPORATION
ANNOUNCES SHARE REPURCHASE
Olympia, Washington -- April 26, 1999 -- The Board of Directors of Heritage
Financial Corporation (Nasdaq symbol: HFWA) today authorized the purchase of up
to 100,000 of its outstanding shares of common stock in the open market or in
privately negotiated transactions at times deemed appropriate. Heritage's
Chairman, President and Chief Executive Officer, Donald V. Rhodes, stated, "Our
Board believes that Heritage's ability to repurchase its stock will help enhance
the value of Heritage's stock for its shareholders and be a good use of
Heritage's capital."
Heritage intends to make all repurchases in compliance with applicable
securities and other laws. As previously announced, Heritage recently
consummated the acquisition of Washington Independent Bancshares, Inc. and its
wholly-owned subsidiary, Central Valley Bank, Toppenish, Washington. The
repurchase of up to 100,000 shares generally represents the maximum number of
shares that may be repurchased while preserving pooling of interests accounting
treatment for that transaction, which closed effective March 5, 1999. The
addition of Central Valley Bank as a separate subsidiary of Heritage increased
Heritage's consolidated assets to about $461 million. As a result of the
acquisition, Heritage, through its two subsidiaries, Heritage Bank and Central
Valley Bank, has 17 full-service banking offices in Thurston, Pierce and Mason
Counties in Western Washington and Yakima County in Central Washington.
