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Jeffrey J. Deuel has been leading Heritage Financial Corp as CEO since July 2019, taking the reins after a significant career in the banking industry. With over 28 years of experience, he has held key positions in major banks, including...

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Jeffrey J. Deuel

CEO of Heritage Financial

Education

Bachelor’s degree at Gettysburg College

Field of Expertise

Finance & Banking - Banking

Sector of Economy

Financial Services

Born

January 1, 1959 - 66 years ago

CEO of Heritage Financial for

6 years 0 months (Jul 2019 - Present)

Previous Experience

Executive Vice President Commercial Operations with JPMorgan Chase

Holdings

See how much did Jeffrey J. Deuel make over time.

As of now, Jeffrey J. Deuel's holdings in Heritage Financial reflect a significant investment in the company. Over the years, he has seen fluctuations in his wealth tied to his stock awards and vested units. In 2021, his total compensation...

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Total Stock Sold

$365.93K

HFWA

$365.93K

20,000 HFWA shares

What if they kept their stock?

If Jeffrey J. Deuel didn't sell their stock, today they would have:
Extra HFWA20,000 shares worth $383.00K.
This is 4.66% and $17.07K more than what they got when they sold the stock.

Insider Trading

See recent insider trades of Jeffrey J. Deuel.

HFWA

$100.00K

HFWA at $18.55/share

May 8, 2020

Purchase

HFWA

2,294 shares

HFWA

Feb 28, 2018

Received

HFWA

2,294 shares

HFWA

Feb 28, 2018

Received

HFWA

4,590 shares

HFWA

Feb 23, 2017

Received

HFWA

$243.35K

HFWA at $18.25/share

May 31, 2016

Sale

HFWA

3,650 shares

HFWA

Feb 25, 2016

Received

HFWA

$121.65K

HFWA at $18.25/share

Aug 14, 2015

Sale

HFWA

4,827 shares

HFWA

Feb 24, 2015

Received

HFWA

8,537 shares

HFWA

Jul 24, 2014

Received

HFWA

5,524 shares

HFWA

Jun 25, 2013

Received

Compensation History

See how much did Jeffrey J. Deuel make over time.

In 2022, Jeffrey J. Deuel's total compensation as CEO of Heritage Financial Corp amounted to about $1.46 million. His base salary was set at $661,500, supplemented by an annual cash bonus of $381,661 based on the company's performance metrics. Additionally, he was awarded restricted stock units valued at approximately $200,331, which vest based on a combination of performance and service. These elements of his pay are designed to motivate him and align his goals with those of the shareholders. The structure of his compensation reflects Heritage's philosophy of rewarding executives based on clear performance indicators, ensuring that management's interests are well aligned with the broader successes of the company. This compensation model is intended not only to attract talent but also to retain experienced executives like Jeffrey who can navigate complex financial landscapes.

Year

2022

Total Compensation

$1.46M

Salary

$661.50K

Board Justification

Heritage's compensation philosophy aims to attract and retain experienced executives, aligning compensation with performance and market comparisons, while considering shareholder value and prudent risk management.

Bonus

$381.66K

Board Justification

Annual cash incentives based on performance metrics, with a target opportunity of 50% of base salary, resulting in a payout of 59.1% of the target for 2022.

Other

$218.10K

Board Justification

Other compensation includes employer 401(k) match, cell phone reimbursement, deferred compensation contributions, club membership, automobile provision, and executive life insurance.

Restricted Stock

$200.33K(7.31K RSU)

Board Justification

Restricted stock units granted in 2022, with 50% vesting based on performance metrics and 50% based on service-based vesting over three years, with actual performance resulting in 101% of target being achieved for the 2020-2022 performance period.

Performance Metrics

Key performance metrics include diluted earnings per share, net charge offs/average loans, overhead ratio, and loan growth.

Other Heritage Financial CEOs

Here are other CEOs of Heritage Financial