Local First Heritage Bank is alive and well

First Heritage Bank Snohomish customers shouldn’t worry about their money’s home, according to Cathy Reines, the bank’s chief executive officer and president.

“First Heritage Bank headquartered in Snohomish, Wash., is in no way affiliated with First Heritage Bank Newport Beach, Calif., which was closed Friday (July 25) by the Federal Regulators,” said Reines in a press release.

First Heritage Bank Snohomish will release second-quarter earnings within the next month, but preliminarily is reporting an increase in earnings compared to the same quarter in 2007 and the first quarter of 2008.

In addition, the bank remains well-capitalized under regulatory guidelines and is encouraged by the stability of both its loan portfolio and stock price, the release stated.

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