OLYMPIA, Wash. (AP) _ Heritage Financial Corp. (HFWA) on Thursday reported fourth-quarter profit of $23.9 million.

The Olympia, Washington-based company said it had net income of 66 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.

The bank holding company posted revenue of $66 million in the period. Its adjusted revenue was $63.7 million, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $59.3 million.

For the year, the company reported profit of $46.6 million, or $1.29 per share. Revenue was reported as $238.2 million.

Heritage Financial shares have increased 2.5% since the beginning of the year. The stock has declined 10% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HFWA at https://www.zacks.com/ap/HFWA

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News