WIXLIB

Investor PresentationQ4 20201

Forward – Looking StatementThe COVID-19 pandemic is adversely affecting us, our customers, counterparties, employees, and third-party service providers, and the ultimate extent of the impacts on our business,financial position, results of operations, liquidity, and prospects is uncertain. Other factors that could cause or contribute to such differences include, but are not limited to: the credit risks of lending activities, including changes in the level and trend of loan delinquencies and write-offs and changes in our allowance for credit losses ("ACL") on loansand provision for credit losses on loans that may be effected by deterioration in the housing and commercial real estate markets, which may lead to increased losses andnonperforming assets in our loan portfolio, and may result in our ACL on loans no longer being adequate to cover actual losses, and require us to increase our ACL on loans; changes in general economic conditions either nationally or in our market areas; changes in the levels of general interest rates, and the relative differences between short and long term interest rates, deposit interest rates, our net interest margin and fundingsources; risks related to acquiring assets in or entering markets in which we have not previously operated and may not be familiar; fluctuations in the demand for loans, the number of unsold homes and other properties and fluctuations in real estate values in our market areas; results of examinations of us by the bank regulators, including the possibility that any such regulatory authority may, among other things, initiate an enforcement action against theCompany or our bank subsidiary which could require us to increase our ACL on loans, write-down assets, change our regulatory capital position, affect our ability to borrow funds ormaintain or increase deposits, or impose additional requirements on us, any of which could affect our ability to continue our growth through mergers, acquisitions or similartransactions and adversely affect our liquidity and earnings; our ability to control operating costs and expenses; increases in premiums for deposit insurance; the use of estimates in determining fair value of certain of our assets, which estimates may prove to be incorrect and result in significant declines in valuation; staffing fluctuations in response to product demand or the implementation of corporate strategies that affect our workforce and potential associated charges; disruptions, security breaches, or other adverse events, failures or interruptions in, or attacks on, our information technology systems or on the third-party vendors who performseveral of our critical processing functions; our ability to retain key members of our senior management team; costs and effects of litigation, including settlements and judgments; our ability to successfully integrate any assets, liabilities, customers, systems, and management personnel we may acquire into our operations and our ability to realize relatedrevenue synergies and cost savings within expected time frames or at all, and any goodwill charges related thereto and costs or difficulties relating to integration matters, includingbut not limited to customer and employee retention, which might be greater than expected; increased competitive pressures among financial service companies; adverse changes in the securities markets; inability of key third-party providers to perform their obligations to us; changes in accounting policies and practices, as may be adopted by the financial institution regulatory agencies or the FASB, including additional guidance and interpretation onaccounting issues and details of the implementation of new accounting methods; and other economic, competitive, governmental, regulatory, and technological factors affecting our operations, pricing, products and services, including from the COVID-19 pandemic,and the other risks detailed from time to time in our filings with the SEC including our Annual Form 10-K and Quarterly Form 10-Qs.The Company cautions readers not to place undue reliance on any forward-looking statements. Moreover, you should treat these statements as speaking only as of the date they aremade and based only on information then actually known to the Company.The Company does not undertake and specifically disclaims any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events orcircumstances after the date of such statements. These risks could cause our actual results for future periods to differ materially from those expressed in any forward-looking statementsby, or on behalf of, us, and could negatively affect the Company’s operating results and stock price performance.2

Company Overview- All dollars in thousands unless otherwise noted, except per share amounts.3

OverviewOverviewNASDAQ SymbolHFWAStock Price(1) 25.62Market Capitalization(1) 919.5 millionInstitutional Ownership(1)81.2%HeadquartersOlympia, WA# of Branches(2)53Year Established1927Q4 2020 Financial HighlightsHFWA BranchMap obtained from S&P Global Market Intelligence; certain locations of branches overlap on the map.(1) Market information as of January 22, 2021.(2) As of January 28, 2021; incorporates eight branch consolidations completed in January 2021.(3) Non-GAAP financial measure. Refer to Appendix for calculation.4Assets 6.62 billionDeposits 5.60 billionLoans receivable 4.47 billionNet Income 23.9 millionPre-tax, Pre-provision Income(3) 25.2 millionNet Interest Margin3.53%Efficiency Ratio60.50%Tier 1 Leverage Ratio9.0%Total Risk Based Capital Ratio14.0%

COVID-19 ResponseEmployeesFacilitiesCustomersLoan PortfolioCapital and Liquidity(1) Evaluatedon a case-by-case basis. Activated our Business Continuity Plan Approximately 60% of employees have remote capabilities; 37% are fully remote Nearly all branch lobbies remain closed; operate by drive-thru or by appointment Practice recommended CDC guidelines for social distancing and disinfecting Loan modification programs Early CD withdrawal, overdraft and other fee waivers(1) SBA Paycheck Protection Program and other government sponsored programs Consistent monitoring/analysis to identify potential at-risk/higher-risk industries Daily monitoring of credit draws Commercial and consumer underwriting changes Concentration loan-type limit changes Increased Special Asset Group staffing levels Discontinued indirect consumer lending business On-going discussions with customers about credit needs Suspended repurchase program on March 18, 2020 (reinstituted effective February 1, 2021) No change to cash dividends, at this time Well-capitalized across all regulatory capital ratios Ample balance sheet liquidity, including cash, securities and borrowing capacity5

Company StrategyActive and disciplined in M&AAllocate capital to organically grow our corebanking businessImprove operational efficiencies andrationalize branch networkGenerate stable profitability and risk adjustedreturnsMaintain conservative underwriting standardsand actively manage the portfolioFocus on core deposits is key to franchisevalue over the long termProactive capital management Be the "acquirer of choice" in the Pacific Northwest Most acquisitive bank in Oregon and Washington since 2012 with 5 acquisitions Target Metrics IRR of 15% with earnbacks 3 years Successful hiring of individuals and teams of bankers in high-growth and dynamic Seattle andPortland markets Disciplined approach to concentration risk and active portfolio management Achieving increased efficiencies with operational scale, internal focus on improving processesand technology solutions Closed/Consolidated 31 branches since beginning of 2010(1) 1.25% return on average assets in 2019 and 0.74% in 2020 (2020 impacted by 36.1 millionprovision for credit losses) Total annual shareholder return(2) of 7.7% over the past 5 years vs. KBW Regional Bank Indexannual total return of 5.7% Long track record of strong underwriting with conservative risk profile Disciplined approach to concentration risk 35.4% noninterest demand deposits to total deposits Noninterest demand deposit CAGR of 21% since 2015 0.14% cost of total deposits(3); top 20% in the country among publicly traded banks(4) History of increasing regular dividends and utilizing special dividends to manage capital Approved stock repurchase plan Strong capital ratios: Tier 1 Leverage Ratio 9.0%; Total Risk Based Capital Ratio 14.0%As of January 28, 2021; incorporates eight branch consolidations completed in January 2021.Total shareholder return for the period 12/31/2015 - 12/31/2020.(3) For the quarter ended December 31, 2020.(4) Per S&P Global Market Intelligence for Q3'2020 and includes banks nationwide with shares on NASDAQ orNYSE and total assets less than 100 billion.(1)(2)6

Technology StrategyObjective: Invest in technology to enable Community Banking at ScaleTransform ProductsRobust, integrated and application programminginterface- (“API”) driven digital solutionsEmpower Employees Implemented “Heritage Direct,” a full suite of upgraded treasury management tools forcommercial customers, including online banking, ACH, wires, positive pay, remote depositcapture and merchant services Deploying a state of the art omni-channel new account opening solution Developing “widgets” to support exceptional service delivery and tailored user experience inconsumer and commercial online banking platforms Completing deployment of a bank-wide business process management (“BPM”) solution toenable real-time transparency into every major process across the company Continued development of bespoke customer relationship management (“CRM”) solution onBank proprietary application framework, delivering unprecedented software integration andefficiency Training and enabling employees to run data-centric, instrumented processes Deep, API-based integration between Bank application framework and core vendor platformsto enable “first-contact” resolution BPM and CRM integration to enable automation and transparency of “customer journeys”through all key banking activities Omni-channel account opening, robust online/mobile offerings, chatbot and other call centerupgrades, and first contact resolution tools to enable the Bank to deliver banking where andwhen the customer needs usTrain and equip with digital tools and know-howEngage CustomersLeverage data to offer personalized serviceOptimize OperationsIntegrate systems, automate & instrumentprocesses Further enhancements to Proprietary Commercial Loan Origination System to automatelending processesDevelop an integrated Treasury Management origination system to automate sales,onboarding and on-going support processesAPI-based integrations with vendor solutions to enable sustainable process automation7