Financial Performance - For the three months ended September 30, 2024, net interest margin decreased 23 basis points to 2.46%, compared to 2.69% in the same quarter last year [142]. - Net interest income for the three months ended September 30, 2024, decreased by $1.2 million to $8.5 million compared to $9.7 million for the same period in 2023 [173]. - Net interest income decreased to $26.3 million for the nine months ended September 30, 2024, down from $31.3 million for the same period in 2023, primarily due to an increase in interest expense outpacing interest income [197]. - The company's net interest margin decreased to 2.56% for the nine months ended September 30, 2024, down from 2.91% for the same period in 2023, due to rising interest expenses [202]. - The average yield on interest-earning assets increased due to rising market interest rates, while the average cost of interest-bearing liabilities also increased at a faster pace [142]. Loan Portfolio - During the first nine months of 2024, loan repayments outpaced newly funded loans, resulting in a decrease of $49.8 million in net loans receivable at September 30, 2024 [139]. - The Bank's portfolio at September 30, 2024, included $135.3 million of loans secured by properties in 47 other states and the District of Columbia, with significant concentrations in California, Oregon, Texas, Florida, and Alabama [140]. - Net loans receivable decreased by $49.8 million, or 4.2%, to $1.126 billion at September 30, 2024, reflecting decreases across all loan categories [152]. - Total loans outstanding decreased to $1,142,411 thousand as of September 30, 2024, from $1,183,385 thousand a year earlier [207]. - Approximately 62.1% of the Bank's net loans were adjustable-rate loans as of September 30, 2024 [234]. Credit Losses and Allowance - The allowance for credit losses (ACL) is an estimate of expected credit losses, which may increase as the loan portfolio grows or due to increased probable losses [143]. - The allowance for credit losses (ACL) increased by $959,000 to $16.3 million at September 30, 2024, representing 1.42% of total loans receivable, up from 1.29% at December 31, 2023 [157]. - A provision for credit losses of $1.2 million was recorded for the nine months ended September 30, 2024, compared to a recapture of $208,000 for the same period in 2023 [205]. - The provision for credit losses was $1.6 million, with $1.5 million allocated to loans and $75,000 to unfunded commitments, primarily related to two participation loans totaling $6.0 million [188]. Deposits and Assets - As of September 30, 2024, total assets decreased by $53.996 million, or 3.6%, to $1.451 billion from $1.505 billion as of December 31, 2023 [148]. - Total deposits decreased by $26.8 million to $1.17 billion as of September 30, 2024, primarily due to a $116.7 million decrease in brokered deposits, money market accounts, savings accounts, and interest-bearing demand accounts [162]. - Interest-earning deposits with banks increased by $50.746 million, or 229.2%, to $72.884 million at September 30, 2024, compared to $22.138 million at December 31, 2023 [148]. Noninterest Income and Expenses - Noninterest income is generated from various loan and deposit fees, wealth management services, and other income, which may be offset by net gains or losses on investment securities [144]. - Noninterest income remained stable at $677,000 for both the three months ended September 30, 2024, and September 30, 2023 [189]. - Noninterest expense decreased by $282,000 to $8.5 million for the three months ended September 30, 2024, compared to $8.8 million in the same period last year [192]. - Noninterest expense increased by $531,000 to $27.8 million for the nine months ended September 30, 2024, from $27.2 million in 2023 [210]. - The largest increase in noninterest expense was in professional fees, which rose by $778,000 due to acquisition-related expenses [210]. Capital and Equity - Stockholders' equity decreased to $160.2 million at September 30, 2024, from $161.7 million at December 31, 2023, due to a net loss of $128,000 and cash dividends of $2.4 million [169]. - Total stockholders' equity was $160.2 million as of September 30, 2024 [225]. - The Bank's total capital to risk-weighted assets ratio was 16.68% and Tier 1 capital to total assets was 10.86% as of September 30, 2024 [225]. - The Bank's capital conservation buffer was 8.68% as of September 30, 2024, exceeding the required minimum of 2.5% [225]. Interest Rate Risk - Interest rate risk is identified as the most significant market risk for the Bank, influenced by the maturity differences between loans and deposits [229]. - An immediate increase of 400 basis points in interest rates would result in a decrease of net interest income by $33,891 thousand, or 7.36% [239]. - The base net interest income was $36,585 thousand, with a potential increase of 1.23% if rates decreased by 100 basis points [239]. - The Bank's asset/liability management policy aims to maximize interest rate spread while maintaining acceptable levels of liquidity and capital adequacy [227]. Strategic Initiatives - The Bank is actively processing SBA loans through a partner while retaining credit decisions, aiming to become a preferred SBA lender as volumes increase [141]. - The Bank's strategic initiatives focus on diversifying the loan portfolio and broadening growth opportunities within current risk tolerance levels [140].

Exhibit 99.1 For more information, contact: Joseph W. Kiley III, President and Chief Executive Officer Rich Jacobson, Executive Vice President and Chief Financial Officer (425) 255-4400 First Financial Northwest, Inc. Reports Third Quarter 2024 Results Renton, Washington – October 29, 2024 - First Financial Northwest, Inc. (the "Company") (NASDAQ GS: FFNW), the holding company for First Financial Northwest Bank (the "Bank"), today reported a net loss of $608,000, or $(0.07) per diluted share, for the quarte ...

Core Insights - First Financial Northwest (FFNW) reported a quarterly loss of $0.07 per share, matching the Zacks Consensus Estimate, compared to earnings of $0.16 per share a year ago, indicating a significant decline in performance [1] - The company posted revenues of $9.13 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 3.78% and down from $10.38 million year-over-year [2] - The stock has increased approximately 68.8% since the beginning of the year, outperforming the S&P 500's gain of 22.1% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.05 on revenues of $9.48 million, and for the current fiscal year, it is $0.24 on revenues of $38.31 million [7] - The estimate revisions trend for First Financial is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, suggesting expected outperformance in the near future [6] Industry Context - The Banks - West industry, to which First Financial belongs, is currently ranked in the bottom 39% of over 250 Zacks industries, indicating potential challenges ahead [8] - Another company in the same industry, First Northwest Bancorp (FNWB), is expected to report a quarterly earnings decline of 82.1% year-over-year, with revenues projected at $17.2 million, down 3.6% from the previous year [9]

RENTON, Wash., Oct. 29, 2024 (GLOBE NEWSWIRE) -- First Financial Northwest, Inc. (the "Company") (NASDAQ GS: FFNW), the holding company for First Financial Northwest Bank (the "Bank"), today reported a net loss of $608,000, or $(0.07) per diluted share, for the quarter ended September 30, 2024, compared to net income of $1.6 million, or $0.17 per diluted share, for the quarter ended June 30, 2024, and net income of $1.5 million, or $0.16 per diluted share, for the quarter ended September 30, 2023. For the n ...

Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, September 24th: Idaho Strategic Resources, Inc. (IDR) : This explorer and developer of gold, silver, and base metal mineral resources has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 166.7% over the last 60 days. Idaho Strategic Resources' shares gained 64.9% over the last three months compared with the S&P 500's advance of 4.9%. The company possesse ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number: 001-33652 FIRST FINANCIAL NORTHWEST, INC. (Exact name of registrant as specified in its charter) | --- | --- | |----- ...

5 6 7 8 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------|-------|------------------|-------|-----------|---------------------|--------------------------------------------------------|-------|--------------------------|-------|----------------| | (1) Yields and Costs: | | Jun 30, 2024 | | Mar 2024 | or For \n(Dollars | the Quarter \nDec 31, 2023 \n in thousands) | | Ended \nSep 30, 2023 | | J ...

Jun 30, 2024 Mar 31, 2024 June 30, 2023 Three Month One Year "During the second quarter, our financial results were positively impacted by the successful completion of a project to modify a large number of loans relating to our previously announced sale of the Bank to Global Federal Credit Union. Specifically, our balance sheet contained over $250 million of loans that are ineligible for a federally chartered credit union like Global to hold due to various aspects, primarily an original term greater than 15 ...

Any of the forward-looking statements that we make in this Press Release and in the other public statements are based upon management's beliefs and assumptions at the time they are made and may turn out to be wrong because of the inaccurate assumptions we might make, because of the factors illustrated above or because of other factors that we cannot foresee. Therefore, these factors should be considered in evaluating the forwardlooking statements, and undue reliance should not be placed on such statements. ...

RENTON, Wash., July 19, 2024 (GLOBE NEWSWIRE) -- First Financial Northwest, Inc. (the "Company") (NASDAQ GS: FFNW), the holding company for First Financial Northwest Bank (the "Bank"), today announced that the preliminary vote count indicates that its shareholders approved the Purchase and Assumption Agreement, dated January 10, 2024, by and among the Company, the Bank and Global Federal Credit Union ("Global"), which provides for Global's acquisition of substantially all of the assets and assumption of sub ...