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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):
February 18, 2000
HERITAGE FINANCIAL CORPORATION
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(Exact name of registrant as specified in its charter)
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<S> <C> <C>
WASHINGTON 0-29480 91-1857900
(State or other jurisdiction of incorporation) (Commission IRS Employer Identification No.
File Number)
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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 February 18, 2000, Heritage Financial Corporation announced that its Board of
Directors had authorized the purchase of an additional ten percent (10%) of its
outstanding stock in the open market or in privately negotiated transactions for
an aggregate targeted repurchase of approximately nineteen percent (19%) of its
outstanding shares since the stock repurchase program was announced on October
22, 1999. As of February 17, 2000, Heritage had purchased 1,008,150 shares or
9.3% of its total outstanding shares. The news release regarding this increase
in targeted stock repurchases 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 February 18, 2000
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: February 23, 2000
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
[HERITAGE FINANCIAL LETTERHEAD]
FOR IMMEDIATE RELEASE
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DATE: February 18, 2000
CONTACT: Donald V. Rhodes
Chairman, President and
Chief Executive Officer
(360) 943-1500
HERITAGE FINANCIAL CORPORATION BOARD
INCREASES STOCK REPURCHASE PROGRAM TARGET
Olympia, WA: The Board of Directors of Heritage Financial Corporation (Nasdaq:
HFWA) has authorized the purchase of an additional ten percent (10%) of the
Company's outstanding shares, or approximately 975,000 shares, for an aggregate
stock repurchase of approximately nineteen percent (19%) of its outstanding
shares from the inception of the stock repurchase program announced on October
22, 1999. As of February 17, 2000, Heritage had repurchased 1,008,150 shares
for a total of 9.3% of its total shares outstanding. The additional share
repurchase will take place over the next 18 months in the open market or in
privately negotiated transactions at times considered appropriate.
Heritage Financial Corporation is a $510 million asset sized bank holding
company headquartered in Olympia, Washington. Heritage operates two community
banks, Heritage Bank and Central Valley Bank, N.A. Heritage Bank serves Pierce,
Thurston, and Mason Counties in the South Puget Sound region of Washington
through its twelve full-service banking offices. Central Valley Bank serves
Yakima County in central Washington through its five full-service banking
offices.
