First Northwest Bancorp

First Northwest Bancorp (Washington) is a bank holding company. It engages in the provision of commercial, mortgage, and lending activities and investment. Its offerings include saving account, certificate of deposits, money market, credit card, fixed rate loans, mortgages, mutual funds, insurances and education savings account. The company was founded on August 14, 2012 and is headquartered in Port Angeles, WA.

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First Northwest Bancorp is a bank holding company which engages in the provision of commercial, mortgage, and lending activities and investment. Its offerings include saving accounts, certificate of deposits, money market, credit cards, fixed rate loans, mortgages, mutual funds, insurances and education savings accounts. The company was founded in 1923 and is headquartered in Port Angeles, WA.

PORT ANGELES, Wash., July 26, 2021 (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ: FNWB) (the “Company”), the holding company for First Federal Savings and Loan Association of Port Angeles (“First Fed”), has completed the acquisition of a Bellevue, Washington branch from Sterling Bank and Trust of Southfield, Michigan (“SBT”).

First Northwest Bancorp Completes Purchase of Bellevue Branch

PORT ANGELES, Wash., April 28, 2021 (GLOBE NEWSWIRE) -- First Northwest Bancorp (Nasdaq: FNWB) (“Company”), the holding company for First Federal Savings and Loan Association of Port Angeles (“Bank” or "First Fed"), today reported that net income increased 257.6% to $3.1 million, or $0.34 per diluted share, for the first quarter of 2021, compared to $873,000, or $0.09 per diluted share, for the first quarter a year ago, and decreased compared to net income of $3.8 million, or $0.41 per diluted share, for the fourth quarter of 2020. First quarter results reflected strong year-over-year revenue growth, core deposit growth and net interest margin expansion. The decrease from the prior period was primarily due to lower gains on sale of one-to-four family mortgages and available for sale investments, partially offset by increased net interest income and a lower provision for loan losses. The Company also announced that its Board of Directors declared a regular quarterly cash dividend of $0.06 per common share outstanding, payable on May 28, 2021 to shareholders of record as of the close of business on May 14, 2021.

First Northwest Bancorp Earns $3.1 Million, or $0.34 Per Diluted Share, in First Quarter 2021; Highlighted by Net Interest Margin Expansion and Strong Asset Quality; Declares Quarterly Cash Dividend of $0.06 Per Share

PORT ANGELES, Wash., March 25, 2021 (GLOBE NEWSWIRE) -- First Northwest Bancorp (the “Company”) (NASDAQ: FNWB), parent company of First Federal Savings and Loan Association of Port Angeles (the “Bank”), today announced the completion of its private placement with registration rights of $40.0 million in ten year fixed-to-floating rate subordinated notes due 2031 (the “Notes”) to certain qualified institutional buyers and institutional accredited investors. The Notes bear a fixed interest rate of 3.75% per annum, from and including the closing date to but excluding March 30, 2026, payable semi-annually in arrears. From and including March 30, 2026, to but excluding the maturity date or early redemption date, the interest rate shall reset quarterly to an interest rate per annum equal to the then current three-month SOFR (provided, however, that in the event three-month SOFR is less than zero, three-month SOFR shall be deemed to be zero) plus 300 basis points. The Company is entitled to redeem the Notes, in whole or in part, on any interest payment date on or after March 30, 2026, or at any time, in whole but not in part, upon certain other specified events prior to the Notes' maturity on March 30, 2031.

First Northwest Bancorp Completes Private Placement of $40.0 Million of Subordinated Notes

PORT ANGELES, Wash., March 22, 2021 (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ: FNWB) (the “Company”), the holding company for First Federal Savings and Loan Association of Port Angeles (“First Fed”), today announced that First Fed has entered into an agreement with Sterling Bank and Trust of Southfield, Michigan (“SBT”) to purchase its Bellevue, Washington branch, subject to applicable regulatory approvals and other customary closing conditions. The agreement includes the purchase of approximately $77.7 million in deposits as of the announcement date and all of SBT's furniture, fixtures, and equipment at this location, as well as assumption of SBT's leasehold obligations relating to the branch. The parties expect to close the transaction by the end of the second quarter of 2021 pending the standard regulatory approval process.

First Northwest Bancorp Announces Purchase of Bellevue, WA Branch

NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) assigns a senior unsecured debt rating of BBB, a subordinated debt rating of BBB-, and a short-term debt rating of K3 for Port Angeles, Washington-based First Northwest Bancorp (NASDAQ: FNWB) (“the company”). In addition, KBRA assigns deposit and senior unsecured debt ratings of BBB+, a subordinated debt rating of BBB, and short-term deposit and debt ratings of K2 for the subsidiary bank, First Federal Savings and Loan Association of Po

KBRA Assigns Ratings to First Northwest Bancorp

First Northwest Bancorp saw its IBD SmartSelect Composite Rating jump to 96 Friday, up from 94 the day before. The post First Northwest Bancorp Sees Composite Rating Improve To 96 appeared first on Investor's Business Daily.

First Northwest Bancorp Sees Composite Rating Improve To 96

PORT ANGELES, Wash., Jan. 04, 2021 (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ: FNWB) (“Company”), the holding company for First Federal Savings and Loan Association of Port Angeles (“First Federal”), today announced that Jennifer Bolton has joined First Federal's management team as Senior Vice President, Sr. Director – Digital Marketing.

Jennifer Bolton Joins First Northwest Bancorp as SVP, SR. Director - Digital Marketing

The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing 817 13F filings submitted by hedge funds and prominent investors. These filings show these funds' portfolio positions as of September 30th, 2020. In this article we are going to take a look at smart money sentiment towards First Northwest Bancorp (NASDAQ:FNWB).

Where Do Hedge Funds Stand On First Northwest Bancorp (FNWB)?

PORT ANGELES, Wash., Oct. 28, 2020 (GLOBE NEWSWIRE) -- First Northwest Bancorp (Nasdaq: FNWB) (“Company”), the holding company for First Federal Savings and Loan Association of Port Angeles (“Bank” or "First Federal"), today reported an increase in net income of 86.0% to $3.7 million, or $0.40 per diluted share, for the third quarter of 2020, compared to net income of $2.0 million, or $0.21 per diluted share, for the second quarter of 2020, and an increase of 46.4% compared to $2.5 million, or $0.25 per diluted share, for the third quarter of 2019. Third quarter results reflected strong loan and deposit growth, net interest margin expansion and improved efficiency. For the first nine months of 2020, net income was $6.5 million, or $0.69 per diluted share, compared to $6.8 million, or $0.68 per diluted share, for the first nine months of 2019. 

First Northwest Bancorp Earns $3.7 Million, or $0.40 Per Diluted Share, in Third Quarter 2020; Net Interest Margin Expansion and Improved Efficiency Ratio Generate Record Earnings; Announces Share Repurchase Plan for 10% of Outstanding Shares

PORT ANGELES, Wash., Sept.  22, 2020  (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ: FNWB), the holding company for First Federal Savings and Loan Association of Port Angeles (“Bank” or “First Federal”), today announced that First Federal Bank was recently voted Best Bank in Clallam County in the ‘Best of the Peninsula’ poll, hosted by the Peninsula Daily News. It was also a finalist for Best Bank in Jefferson County, and a finalist for Best Customer Service in both counties.

First Federal Voted Best Bank for the 25th Consecutive Year in the Peninsula Daily News ‘Best of the Peninsula’ Poll

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PORT ANGELES, Wash., Aug.  17, 2020  (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ: FNWB) (“Company”), the holding company for First Federal Savings and Loan Association of Port Angeles (“Bank” or “First Federal”), and First Federal Community Foundation, were recently recognized by the Puget Sound Business Journal as one of the top corporate philanthropists in Washington State. Of the 26 midsize companies that made the Journal’s list, First Federal Bank and Foundation collectively contributed $1.06 million, and ranked #2.  Together, these 26 midsized companies contributed $10.6 million to Washington nonprofits.

First Federal Community Foundation Receives Corporate Citizenship Award from Puget Sound Business Journal

Fueled by Strong Loan and Deposit Growth;   Declares Quarterly Cash Dividend of $0.05 per Share

First Northwest Bancorp Earns $2.0 Million, or $0.21 Per Diluted Share, in Second Quarter 2020

PORT ANGELES, Wash., July  01, 2020  (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ: FNWB) (“Company”), the holding company for First Federal Savings and Loan Association of Port Angeles (“Bank” or “First Federal”), today announced the appointment of Sherilyn G. Anderson to the Board of Directors for the Company and First Federal.  Ms. Anderson will be replacing David Flodstrom, who announced his retirement from both Boards effective September 22, 2020.

First Northwest Bancorp Appoints Sherilyn G. Anderson to its Board of Directors

PORT ANGELES, Wash., June  24, 2020  (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ: FNWB) (“Company”), the holding company for First Federal Savings and Loan Association of Port Angeles (“Bank” or “First Federal”), today announced the retirement of board member David Flodstrom, effective September 22, 2020.  Mr. Flodstrom notified the company of his intent to retire from both the Board of Directors of the Company and First Federal (collectively, the “Boards”) on June 19, 2020. Mr. Flodstrom has been a member of the Boards since 2002 and is a current member of the Company’s Compensation Committee as well as First Federal’s Compensation and Loan Committees.   

First Northwest Bancorp Announces Board Member David T. Flodstrom’s Retirement

PORT ANGELES, Wash., May  20, 2020  (GLOBE NEWSWIRE) -- In a press release issued under a similar headline earlier today by First Northwest Bancorp (NASDAQ: FNWB), please note that Andy Pohlman's title should be SVP and Regional Market President, not SVP and Regional Marketing President. The corrected release follows:

CORRECTION -- Andy Pohlman Joins First Federal as SVP and Regional Market President

PORT ANGELES, Wash., May  20, 2020  (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ: FNWB) (“Company”), the holding company for First Federal Savings and Loan Association of Port Angeles (“Bank” or “First Federal”), today announced that Andy Pohlman will join First Federal’s management team as Regional Market President and Senior Vice President of Investment Services, effective June 1, 2020.  Pohlman will lead the Bank’s Retail Banking Strategy in Whatcom and Kitsap Counties, as well as oversee the Investment Services function. 

Andy Pohlman Joins First Federal as SVP and Regional Marketing President

PORT ANGELES, Wash., April  29, 2020  (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ: FNWB) (“Company”), the holding company for First Federal Savings and Loan Association of Port Angeles (“Bank” or “First Federal”), today announced the promotion of Geri Bullard to Executive Vice President and Chief Financial Officer, effective immediately.  Bullard had been serving as Senior Vice President, Interim Chief Financial Officer and Treasurer of First Federal.

First Northwest Bancorp Promotes Geri Bullard to Chief Financial Officer

PORT ANGELES, Wash., April  27, 2020  (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ: FNWB) (“Company”), the holding company for First Federal Savings and Loan Association of Port Angeles (“Bank” or “First Federal”), today announced that Jonathan R. Sparling joined First Federal’s management team as Senior Director of Commercial Lending, effective today. 

Jonathan R. Sparling Joins First Federal as Senior Director of Commercial Lending

PORT ANGELES, Wash., April  10, 2020  (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ: FNWB) (“Company”), the holding company for First Federal Savings and Loan Association of Port Angeles (“Bank” or “First Federal”), today announced that Randy Riffle joined First Federal’s management team as Executive Vice President and Chief Lending Officer, effective April 13. Riffle will play a strategic role overseeing the management and development of all commercial lending programs, activities, and teams.

Randy Riffle Joins First Federal as Chief Lending Officer

PORT ANGELES, Wash., March  16, 2020  (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ: FNWB) (“Company”), the holding company for First Federal Savings and Loan Association of Port Angeles (“Bank” or “First Federal”), today announced that Regina Wood is resigning as Chief Financial Officer effective March 16, 2020, to pursue another business opportunity.  Geri Bullard, currently serving as Senior Vice President and Treasurer, will assume the position of Interim Chief Financial Officer following Ms. Wood’s departure.

First Northwest Bancorp Announces Management Change

PORT ANGELES, Wash., March  02, 2020  (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ: FNWB) (“Company”), the holding company for First Federal Savings and Loan Association of Port Angeles (“Bank” or “First Federal”), recently promoted Derek Brown to Executive Vice President/Chief Human Resources & Marketing Officer, managing human resources, marketing and investor relations.  Brown has been a Senior Vice President since starting with the Bank in 2015. 

First Northwest Bancorp Promotes Derek Brown to Executive Vice President/Chief Human Resources & Marketing Officer

PORT ANGELES, Wash., Feb.  05, 2020  (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ: FNWB) (“Company”), the holding company for First Federal Savings and Loan Association of Port Angeles, today announced that its Board of Directors increased its regular quarterly cash dividend by 25% to $0.05 per share.  The dividend will be paid on March 6, 2020 to shareholders of record on February 21, 2020.

First Northwest Bancorp Increases Quarterly Cash Dividend by 25% to $0.05 Per Share

PORT ANGELES, Wash., Jan.  14, 2020  (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ: FNWB) (“Company”), the holding company for First Federal Savings and Loan Association of Port Angeles (“First Federal”), today announced that Jay Johnston and David Sharon joined First Federal’s management team as Commercial Relationship Managers.  Both will play an integral role in supporting the strategic direction of our franchise.

Jay Johnston and David Sharon Join First Northwest Bancorp as Commercial Relationship Managers

President & CEO/First Federal of First Northwest Bancorp (30-Year Financial, Insider Trades) Matthew P Deines (insider trades) bought 10,000 shares of FNWB on 08/27/2019 at an average price of $16.15 a share.

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