I live in the community that HFWA serves, and have a lot of confidence in this particular bank and it's investment policies. I don't personally know any of the officers, but two of my real estate partnerships have borrowed through Heritage.

They took the write-down on their ultra-short mortgage fund, because a mark-to-market was required, but they think it's likely they'll get that back. With a PE of less than 10, a 6% dividend, a long history of dividend increases, and less than 1% non-performing loans, I am holding my investment, and would invest more but I'm at a self-imposed limit for any one security.