| Cash Flow for Heritage Financial Corp. (HFWA) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 10,708 | 10,547 | 10,476 | 9,585 | 8,904 | | Provision for Loan Loss | 810 | 720 | 810 | 645 | 1,125 | | Depreciation & Amortization | 1,616 | 1,687 | 1,770 | 1,708 | 1,863 | | Deferred Income Taxes | (216) | (834) | (207) | (254) | (580) | | Change in Assets (Receivables) | (383) | (2,545) | - | - | - | | Change in Liabilities (Payables) | - | - | - | 2,705 | - | | Investment Securities Gain | - | - | - | (218) | - | | Net Policy Acquisition Cost | - | - | - | - | - | | Realized Investment Gains | (42) | (218) | (15) | (80) | (3) | | Net Premiums Receivables | - | - | - | - | - | | Change in Income Taxes | - | - | - | - | - | | Other Non-Cash Items | 725 | 1,174 | 367 | 1,284 | 7,841 | | Net Cash from Operating Activities | 13,218 | 10,531 | 13,201 | 15,375 | 19,150 | | | | Proceeds from Sale/Mat. Inv. | 10,319 | 9,635 | 7,419 | 27,763 | 52,761 | | Purchase of Investment Securities | (6,587) | (1,652) | (6,567) | (17,643) | (59,975) | | Net Increase Fed. Funds Sold | - | 141 | - | - | - | | Purchase of Property & Equipment | (709) | (1,370) | (738) | (1,158) | (1,305) | | Acquisitions | - | (2,031) | - | - | - | | Other Investment Changes, Net | (29,732) | (56,121) | (53,707) | (78,727) | (57,597) | | Net Cash from Investing Activities | (26,709) | (51,398) | (53,593) | (69,765) | (66,116) | | | Net Change in Deposits | 50,359 | 45,135 | 49,226 | 45,446 | 24,716 | | Cash Dividends paid | (5,561) | (5,069) | (4,291) | (3,744) | (3,731) | | Repayment of Long Term Debt | (23,597) | (5,015) | (1,000) | - | - | | Change in Short Term Debt | - | - | - | 9,800 | 31,100 | | Issuance of Long term Debt | - | 3,700 | - | - | - | | Issuance of Preferred Stock | - | - | - | - | - | | Issuance of Common Stock | 1,477 | 984 | 726 | 1,008 | 970 | | Purchase of Treasury Stock | (1,351) | (588) | (1,606) | (8,307) | (16,506) | | Other Financing Activities | 196 | 149 | - | - | - | | Cash from Financing Activities | 21,523 | 39,296 | 43,055 | 44,203 | 36,549 | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash & Equivalents | 8,032 | (1,571) | 2,663 | (10,187) | (10,417) | | | Cash at Beginning of Period | 26,431 | 28,002 | 25,339 | 35,526 | 45,943 | | Cash at End of Period | 34,463 | 26,431 | 28,002 | 25,339 | 35,526 | | | |
