First Northwest Bancorp Reports Third Quarter 2024 Financial Results PORT ANGELES, Wash., Oct. 29, 2024 (GLOBE NEWSWIRE) -- CEO Commentary"This was a quarter of mixed results. Progress on customer deposit gathering and the termination of the FDIC Consent Order was overshadowed by a quarterly loss driven by additional provisions primarily related to certain equity loans made to high net worth, accredited investors. The teamwork and collaboration between Staff, Management and the Board to address the matters identified in the Consent Order is demonstrative of the qualificatio...
First Northwest Bancorp and First Fed Bank Announce Consent Order Termination and Quarterly Shareholder Dividend PORT ANGELES, Wash., Oct. 28, 2024 (GLOBE NEWSWIRE) -- First Fed Bank (the “Bank”), the wholly owned subsidiary of First Northwest Bancorp (the “Company”) (NASDAQ: FNWB), announced that on October 23, 2024, the Federal Deposit Insurance Corporation terminated the Consent Order issued to the Bank that was effective November 21, 2023. The termination of the Consent Order follows the Bank’s successful resolution of the deficiencies in the Bank’s compliance program that was the sub...
Two Directors at First Northwest Bancorp bought 9,435 shares at between 10.750USD and 10.790USD. The significance rating of the trade was 42/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors ...
First Northwest Bancorp Reports Second Quarter 2024 Financial Results PORT ANGELES, Wash., July 25, 2024 (GLOBE NEWSWIRE) -- "In spite of challenging times for the entire industry as a result of the rate environment, First Northwest executed on a balance sheet restructure strategy. The restructure included a sale-leaseback transaction for six of our branches, a restructure of our bank-owned life insurance policies, two securities loss sale transactions, two balance sheet hedges against fixed rate loans and municipal bonds and the sale of our Visa B shares," commented Matthew P. Deines, Pr...
First Northwest Bancorp and First Fed Announce the Retirement of Jennifer Zaccardo from Boards of Directors PORT ANGELES, Wash., July 09, 2024 (GLOBE NEWSWIRE) -- First Fed Bank and its holding company, First Northwest Bancorp (NASDAQ: FNWB) (collectively the “Company”), announced the retirement of Jennifer Zaccardo from the Company’s Boards of Directors, effective July 02, 2024. “On behalf of the Board of Directors we thank Jennifer for her many years of valuable service, and we wish her the very best as she enters retirement,” said Cindy Finnie, Board Chair of FNWB and First Fed. Zacc...
Kyle Henderson Promoted to Chief Credit Officer of First Fed Bank PORT ANGELES, Wash., July 01, 2024 (GLOBE NEWSWIRE) -- First Fed Bank, subsidiary of First Northwest Bancorp (NASDAQ: FNWB) (“Company”), today announced that Kyle Henderson has been promoted to Chief Credit Officer. Henderson joined First Fed as Deputy Chief Credit Officer in 2023. "Kyle Henderson is a respected banking leader with an outstanding track record in credit administration. Over the past year, Kyle has ramped up on our market and gained the trust of our customers and team. We expect a smooth transition as he t...
First Northwest Bancorp Reports First Quarter 2024 Financial Results PORT ANGELES, Wash., April 25, 2024 (GLOBE NEWSWIRE) -- "The company returned to profitability in Q1 2024 following the first step of our balance sheet restructure in the fourth quarter of 2023," said Matthew P. Deines, President and CEO. "We continue to execute on this strategy as we added over $90 million in current market rate loans and securities over the course of the first quarter. We will continue this strategy in the second quarter as we prepare to execute on a sale-leaseback transaction for six of our branches l...
First Fed Fortifies Executive Organization PORT ANGELES, Wash., April 08, 2024 (GLOBE NEWSWIRE) -- First Fed Bank has announced two new executive roles to foster a sharpened focus on digital and strategic initiatives. David Edelstein has been hired as Chief Innovation Officer, and will lead digital banking, technology, data, and fintech partnerships. Edelstein brings more than 25 years of leadership experience in financial services and technology. “David is a skilled technology leader with significant knowledge and expertise in data, digital banking, payments, and innovation. He brings...
Sean Brennan Appointed to First Fed Board PORT ANGELES, Wash., March 27, 2024 (GLOBE NEWSWIRE) -- First Fed Bank, subsidiary of First Northwest Bancorp (NASDAQ: FNWB), announced today that Sean Brennan has been appointed to the Board of Directors. "Sean is a respected, results-oriented leader with over 35 years of financial industry experience. As a commercial banking executive, he built an impressive track record of consistent loan and deposit growth. Sean will bring valuable insight and diligent oversight to our board,” said Matt Deines, President and CEO of First Fed Bank and FNWB. “...
First Northwest Bancorp Reports Fourth Quarter 2023 Results of Operations PORT ANGELES, Wash., Jan. 25, 2024 (GLOBE NEWSWIRE) -- Matthew P. Deines, President and CEO, comments on financial results:"2023 was the most challenging year for many banks since the great recession," said Matthew P. Deines, President and CEO. "That was certainly the case for First Northwest Bancorp and First Fed Bank. In spite of our challenges, we celebrated our 100th anniversary in 2023, and we continue to celebrate our customers, employees and communities as we enter our second century. While we posted an ope...
Sherilyn Anderson Elected as First Fed Board Vice Chair PORT ANGELES, Wash., Dec. 11, 2023 (GLOBE NEWSWIRE) -- First Fed Bank, subsidiary of First Northwest Bancorp (NASDAQ: FNWB) (“Company”), today announced that Sherilyn Anderson has been elected as to Board Vice Chair. Anderson has served as a Board Member since 2020. "Sherilyn is a seasoned financial leader with deep banking industry experience. She brings a strong focus on financial stewardship while navigating investment and growth opportunities,” said Matt Deines, President and CEO of First Fed Bank and FNWB. “As a community ba...
First Northwest Bancorp Reports Third Quarter 2023 Earnings PORT ANGELES, Wash., Oct. 26, 2023 (GLOBE NEWSWIRE) -- Matthew P. Deines, President and CEO, comments on financial results: "The Company continues to manage through this historic interest rate environment by remaining focused on deepening existing relationships and acquiring new customers," said Matthew P. Deines, President and CEO. "We are also maintaining our commitment to reducing non-interest expense, which bore out in lower operating expenses and an improved efficiency ratio this qu...
Geri Bullard Promoted to COO of First Fed PORT ANGELES, Wash., Oct. 02, 2023 (GLOBE NEWSWIRE) -- First Fed Bank has announced the promotion of Geri Bullard to Chief Operating Officer leading the deposit operations, loan operations, and reporting teams. Bullard has over 20 years of leadership experience in financial services. In addition to her new role as COO, Bullard will continue to serve as Chief Financial Officer, an executive position she has held since 2020 at First Fed. “Geri is a talented, dedicated leader who guides strategic planning and understands every aspect of the business...
First Northwest Bancorp Reports Second Quarter 2023 Earnings PORT ANGELES, Wash., July 27, 2023 (GLOBE NEWSWIRE) -- Matthew P. Deines, President and CEO, comments on financial results:"We grew deposits this quarter and are cautiously optimistic that funding costs have begun to stabilize," said Matthew P. Deines, President and CEO of First Northwest Bancorp. "We continue to focus on the blocking and tackling of community banking and expect actions we took in the second quarter will result in lower expenses in future quarters. Loan growth continues to moderate as we focus on liquidity and...
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