Retiring Chief Executive Jeff Deuel Remains
CEO of Heritage Financial Corporation until May 2025; Bryan McDonald Named President
and CEO of Heritage Bank and President of Heritage Financial
Corporation
OLYMPIA,
Wash., June 25, 2024 /PRNewswire/ -- Heritage
Financial Corporation (Nasdaq GS: HFWA) (the "Company or
"Heritage"), the parent company of Heritage Bank (the "Bank"), has
named Bryan D. McDonald to succeed
Jeffrey J. Deuel as President and
CEO of Heritage Bank and President of Heritage Financial
Corporation, effective July 1, 2024.
Mr. McDonald has held the titles of President and Chief Operating
Officer of Heritage Bank since 2018.
Mr. Deuel, who has served as CEO of Heritage Bank
since 2018 and as President and CEO of Heritage Financial
Corporation since 2019, will remain CEO of Heritage Financial
Corporation until May 6, 2025, at
which time he will take on an advisory role assisting the CEO and
the Company's board of directors. With a commercial banking career
spanning 42 years, Mr. Deuel will work closely with Mr. McDonald
during the transition, which is a process designed to ensure a
smooth executive transition.
"Jeff and his team led the bank through a
difficult economic period while maintaining a strong foundation,"
said the Company's Board Chair, Brian
Vance. "After ten years at Heritage, Bryan and the
leadership team are well positioned to continue serving our clients
across the Pacific Northwest and to continue driving growth and
shareholder value." The Olympia-based bank now operates 50 branch
offices throughout Washington,
Oregon, and Idaho.
"Taking a methodical and thoughtful approach to
this transition is important to us. We want to ensure that our
customers, our shareholders, and our dedicated employees do not
experience any notable day-to-day changes in the direction of the
bank," said Mr. Deuel. "Bryan's knowledge of the communities we
serve, his professional reputation in the industry, and his
leadership experience within the Heritage Bank family will ensure a
seamless transition."
"I look forward to a continued partnership with
Jeff and the entire leadership team. We are committed to serving
the financial needs of all our customers throughout Heritage's
footprint and fueling positive economic growth in the region," said
Mr. McDonald.
Mr. McDonald also currently serves as a director
on the Washington Bankers Association Board and as a member of the
American Bankers Association Government Relations Council. He has
held a variety of banking leadership positions during a career
spanning more than 30 years and encompassing the areas of lending,
credit administration, portfolio management, retail, bank
operations, and corporate strategies.
About Heritage Financial
Heritage
Financial Corporation is an Olympia,
Washington-based bank holding company for its subsidiary
Heritage Bank, a full-service commercial bank. Heritage Bank has a
branch network of 50 banking offices in Washington, Oregon, and Idaho. Heritage Bank does business under the
Whidbey Island Bank name on Whidbey Island, Washington. Heritage Financial
Corporation's stock is traded on the NASDAQ Global Select Market
under the symbol "HFWA". More information about Heritage Financial
Corporation can be found on its website at www.hf-wa.com and more
information about Heritage Bank can be found on its website at
www.heritagebanknw.com.
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SOURCE Heritage Financial Corporation