Heritage Financial Corporation (NASDAQ:HFWA) Q4 2022 Earnings Conference Call January 26, 2023 1:00 PM ET
Company Participants
Jeffrey Deuel - Chief Executive Officer
Donald Hinson - Executive Vice President and Chief Financial Officer
Bryan McDonald - President and Chief Operating Officer
Conference Call Participants
Matthew Clark - Piper Sandler & Co.
Eric Spector - Raymond James & Associates, Inc.
Jeffrey Rulis - D.A. Davidson & Co.
Andrew Terrell - Stephens Inc.
Kelly Motta - Keefe, Bruyette, & Woods, Inc.
Operator
Thank you for standing by and welcome to the Heritage Financial Corporation Q4 2022 Earnings Conference Call. My name is Sam, and I will be your moderator for today's call. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. [Operator Instructions]
I would now like to hand the conference over to Jeff Deuel, CEO of Heritage. Jeff?
Jeffrey Deuel
Thank you, Sam. Welcome, and good morning to everyone who called in and those who may call in later. This is Jeff Deuel, CEO of Heritage Financial. Attending with me are Don Hinson, our Chief Financial Officer and Bryan McDonald, our President and Chief Operating Officer; Tony Chalfant, Chief Credit Officer, will not be joining the call today due to a personal commitment.
Our Q4 and full-year 2022 earnings release went out this morning pre-market, and hopefully, you have had an opportunity to review it prior to the call. We have also posted an updated fourth quarter investor presentation on the Investor Relations portion of our corporate website. We will reference this presentation during the call. Please refer to the forward-looking statements in the press release.
We are very pleased to report another solid quarter and year. We had good organic loan growth. We are pleased with the positive trend we have seen in the number of new commitments and new loan closings from our existing production teams as well as the newer members of our team in Southwest Washington and Oregon.
Net interest margin continues to improve with rates moving higher together with careful management of our deposit relationships. We continue to manage expenses. As mentioned in previous quarters, we are experiencing the impacts of inflation-driven expense increases, together with the additional expense related to the new teams who joined us in May. You will recall, we guided to non-interest expense in the $40 million range, which is where we came in for the quarter.