First Northwest Bancorp operates as a bank holding company for First Federal Savings and Loan Association of Port Angeles that provides commercial and consumer banking services to individuals, businesses, and nonprofit organizations in western Washington, the United States. It accepts various deposit instruments, including checking, money market deposit, savings, and transaction accounts, as well as certificates of deposit. The company also originates one- to four-family mortgage loans, commercial and multi-family real estate loans, construction and land loans, and commercial business loans, as well as consumer loans primarily consisting of automobile loans, and home-equity loans and lines of credit. It operates through ten full-service branches and a lending center in Seattle. The company was founded in 1923 and is based in Port Angeles, Washington.
IPO Year: 2015
Exchange: NASDAQ
Website: ourfirstfed.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/13/2025 | $13.50 | Outperform | Hovde Group |
| 6/9/2023 | $14.00 → $13.00 | Overweight → Neutral | Piper Sandler |
| 6/1/2022 | $19.00 | Overweight | Piper Sandler |
| 1/28/2022 | $24.00 | Neutral → Overweight | Piper Sandler |
| 12/20/2021 | $23.00 | Outperform | Hovde Group |
| 9/1/2021 | $20.00 | Neutral | Piper Sandler |
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PORT ANGELES, Wash., July 28, 2021 (GLOBE NEWSWIRE) -- First Northwest Bancorp ("Company") (NASDAQ:FNWB), the holding company for First Federal Savings and Loan Association of Port Angeles ("Bank" or "First Fed"), today announced that David Blake will be retiring from the Board of Directors effective September 28, 2021. At the same time, the Board announced the appointment of Gabriel S. ("Gabe") Galanda to the Boards of Directors for the Company and First Fed. Mr. Blake has served on each Board since 2005. "On behalf of the Board of Directors we thank Dave for his many years of valuable service, and we wish him the very best as he enters retirement," said Stephen E. Oliver, Chairperson
Hovde Group resumed coverage of First Northwest Bancorp with a rating of Outperform and set a new price target of $13.50
Piper Sandler downgraded First Northwest Bancorp from Overweight to Neutral and set a new price target of $13.00 from $14.00 previously
Piper Sandler resumed coverage of First Northwest Bancorp with a rating of Overweight and set a new price target of $19.00
Piper Sandler upgraded First Northwest Bancorp from Neutral to Overweight and set a new price target of $24.00
Hovde Group initiated coverage of First Northwest Bancorp with a rating of Outperform and set a new price target of $23.00
Piper Sandler initiated coverage of First Northwest Bancorp with a rating of Neutral and set a new price target of $20.00
PORT ANGELES, Wash., April 24, 2025 (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ:FNWB) ("First Northwest" or the "Company") today reported net income of $1.5 million for the first quarter of 2025, compared to a net loss of $2.8 million for the fourth quarter of 2024 and net income of $396,000 for the first quarter of 2024. Basic and diluted income per share were $0.17 for the first quarter of 2025, compared to basic and diluted loss per share of $0.32 for the fourth quarter of 2024 and basic and diluted income per share of $0.04 for the first quarter of 2024. In the first quarter of 2025, the Company recorded adjusted pre-tax, pre-provision net revenue ("PPNR")(1) of $1.5 milli
PORT ANGELES, Wash., March 27, 2025 (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ:FNWB) and its subsidiary First Fed Bank (collectively the "Company"), today announced the promotion of Phyllis Nomura to Executive Vice President and Chief Financial Officer of First Fed. She will also serve as EVP/CFO and as Treasurer for First Northwest. Nomura joined First Fed as Senior Director of Accounting in November 2024. "We are excited to welcome Phyllis to our executive team. She was hired in 2024 as part of our management succession plan and brings over 30 years of experience in accounting, finance, and audit. Her leadership skills and experience are a meaningful addition to our team," said
PORT ANGELES, Wash., Feb. 26, 2025 (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ:FNWB) and its subsidiary First Fed Bank are pleased to announce the appointment of Johanna Bartee to the Board of Directors for both companies. Ms. Bartee brings extensive experience in banking, finance, and economic development, along with a strong commitment to community-driven initiatives across the North Olympic Peninsula. "We are thrilled to welcome Johanna to our Board of Directors," said Matt Deines, President and CEO of First Fed Bank and FNWB. "Her expertise in finance and community development will be invaluable as we continue to serve our customers and communities." Ms. Bartee is the Execut
PORT ANGELES, Wash., Jan. 29, 2025 (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ:FNWB) ("First Northwest" or the "Company") today reported a net loss of $2.8 million for the fourth quarter of 2024, compared to a net loss of $2.0 million for the third quarter of 2024 and a net loss of $5.5 million for the fourth quarter of 2023. Basic and diluted loss per share were $0.32 for the fourth quarter of 2024, compared to basic and diluted loss per share of $0.23 for the third quarter of 2024 and basic and diluted loss per share of $0.62 for the fourth quarter of 2023. In the fourth quarter of 2024, the Company recorded adjusted pre-tax, pre-provision net revenue ("PPNR")(1) of $1.2
PORT ANGELES, Wash., Dec. 30, 2024 (GLOBE NEWSWIRE) -- First Fed Bank and its holding company, First Northwest Bancorp (NASDAQ:FNWB) (collectively the "Company"), announced the resignation of Craig Curtis from the Company's Boards of Directors, effective December 31, 2024. "On behalf of the Board of Directors we thank Craig for his many years of service and wish him all the best in his future endeavors," said Cindy Finnie, Board Chair of FNWB and First Fed. Curtis served on the First Fed Board for 10 years and the FNWB Board for 9 years. He served as Chair of the Nominating and Corporate Governance Committee for both Boards and the First Fed Board Loan Committee during his tenure on t
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 qualifications, determination and capabilities of the First Fed team. We appreciate that the FDIC acknowledged the planning, monitoring and execution required to comply with the Order
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 subject of the Order. "We are thrilled to announce the termination of the Consent Order. The Board and I want to convey our sincere thanks and appreciation to our entire compliance team who worked so diligently to stre
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, President and CEO. "As a result, we reached an inflection point for the net interest margin in the second quarter after declines for the preceding five quarters. We also reduc
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. Zaccardo served on the First Fed Board for 13 years and the FNWB Board for 9 years, bringing a wealth of knowledge and dedication to the Company's growth and success. She also recently served as Vice Chair of both bo
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 takes the helm of credit administration leadership with related financial and managerial responsibilities," said Matt Deines, President and CEO of First Fed Bank and FNWB.
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PORT ANGELES, Wash., July 27, 2022 (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ:FNWB) Q2 2022 Net IncomeQ2 2022 Diluted Earnings Per ShareYTD Loan GrowthQ2 2022 Net Interest MarginBook Value per Share$2.5 million$0.278.0%3.77%$16.60 $16.40*, excluding goodwill and intangibles CEO Commentary "Our commercial bank shined this quarter as loan growth combined with increasing yields and stable deposit costs to drive increases in net interest income and net interest margin," said Matthew P. Deines, President and CEO of First Northwest Bancorp. "Expenses were impacted by investments in our fintech initiatives and partnerships, which we expect to moderate in the coming quarters. We are
PORT ANGELES, Wash., April 29, 2022 (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ:FNWB) Q1 2022 Net IncomeQ1 2022 Diluted Earnings Per ShareQ1 2022 Net Interest MarginBook Value per Share$2.8 million$0.303.53%$17.77 $17.561, excluding goodwill and intangibles CEO Commentary "We made good progress in the first quarter, continuing to build First Fed into a leading, fintech-enabled community bank," said Matthew P. Deines, President and CEO of First Northwest Bancorp. "We announced a strategic partnership with Splash Financial to meet the financial needs of consumers across the United States. We expanded the Quin Ventures product offering in response to marketplace demand. And w
PORT ANGELES, Wash., Jan. 26, 2022 (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ:FNWB) Q4 2021 Net IncomeQ4 2021 DilutedEarnings Per ShareYTD Loan GrowthQ4 2021Net Interest MarginBook Value per Share$5.1 million$0.5618%3.58%$19.10$18.891, excludinggoodwill and intangibles CEO Commentary "The fourth quarter concluded a record year of profitability and growth for First Fed," said Matthew P. Deines, President and CEO of First Northwest Bancorp. "We couldn't be more pleased with the First Fed team, who worked together to deliver second-to-none financial solutions to the communities we serve." "The strategic investments and activities we began in 2020 conti
PORT ANGELES, Wash., Oct. 27, 2021 (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ:FNWB) Net IncomeDiluted Earnings Per ShareYTD Loan GrowthNet Interest MarginBook Value per Share$4.2 Million$0.4518%3.58%$18.65$18.481, excluding goodwill and intangibles CEO Commentary "First Fed achieved strong loan growth and record earnings in the third quarter as our strategic investment in technology, market expansion and personnel continues to deliver results," said Matthew P. Deines, President and CEO of First Northwest Bancorp. "We believe our momentum will help us to continue to grow revenue, deliver results and create shareholder value in the years to come." "We continue to make progress on
PORT ANGELES, Wash., July 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 net income of $3.0 million, or $0.32 per diluted share, for the second quarter of 2021, an increase of 51.6% compared to $2.0 million, or $0.21 per diluted share, for the second quarter a year ago, and a decrease of 4.0% compared to $3.1 million, or $0.34 per diluted share, for the first quarter of 2021. Second quarter results reflect strong year-over-year revenue generation, solid core deposit and loan growth, and excellent credit quality. The decrease from the pr
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"). "We are excited to welcome our new customers and Bellevue team members to First Fed, recently recognized by Forbes as a top bank in our state," said Matt Deines, President and CEO of First Fed. "Our team looks forward to serving King County by building the same strong relationships that have defined our history as a community bank." Last month First Fed was nam
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 w
PORT ANGELES, Wash., Jan. 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 Federal"), today reported net income increased 72.0% to $3.8 million, or $0.41 per diluted share, for the fourth quarter of 2020, compared to $2.2 million, or $0.23 per diluted share, for the fourth quarter a year ago, an increase of 3.8% compared to $3.7 million, or $0.40 per diluted share, for the third quarter of 2020. Fourth quarter results reflected strong loan and deposit growth, net interest margin expansion and improved efficiency. For the year 2020, net income increased 14.7%