Heritage Financial Corp. in Olympia, Wash., postponed its annual meeting last week, because there was not a quorum to nominate a board of directors.
Donald V. Rhodes, chairman and chief executive officer of $457 million- asset Heritage, said that only about 100 shareholders-representing about 45% of Heritage's shares-attended the April 27 meeting. He said turnout was low because the company was slow in assembling and mailing proxy materials.
"I had shareholders call me and say they didn't receive the information until after the meeting," Mr. Rhodes said.
The meeting has been rescheduled for Tuesday at Heritage's headquarters.