Core Viewpoint - First Northwest Bancorp has appointed Diane C. Davis to its Board of Directors, which is expected to enhance the company's governance and strategic direction as it continues to grow and serve its communities [1][3][6]. Company Overview - First Northwest Bancorp (NASDAQ: FNWB) is a financial holding company that operates First Fed Bank, a financial institution based in the Pacific Northwest, serving customers since 1923 [7]. - First Fed Bank has 18 locations in Washington State, including 12 full-service branches, and focuses on sustainable earnings through a variety of financial products and services [7]. - The company has made strategic investments, including a 2022 investment in The Meriwether Group, LLC, and emphasizes partnerships for modern financial services [7]. Appointment of Diane C. Davis - Diane C. Davis brings over 25 years of leadership experience in the insurance industry, with a strong background in executive management, strategy, risk management, and corporate governance [2][4]. - Her previous roles include Chief Risk Officer and President at Farmers New World Life Insurance Company, and Regional Chief Risk Officer at Zurich Insurance Company Ltd., providing her with extensive risk oversight experience [4]. - Davis holds a Bachelor of Science in Actuarial Science and an MBA, and is a Fellow of the Society of Actuaries, indicating a strong educational background relevant to her board role [5]. Strategic Importance - The appointment of Davis is seen as a significant asset for First Fed Bank, aligning with the company's long-term goals of strong governance and sustainable growth [3][6]. - Davis expressed her commitment to supporting community banks, which play a crucial role in local economies, highlighting her alignment with the company's mission [3]. Recognition and Awards - First Fed Bank has been recognized as a Best Workplace and top Corporate Philanthropist by Puget Sound Business Journal in 2023 and 2024, indicating its strong community presence and employee satisfaction [8].

Core Viewpoint - First Northwest Bancorp has appointed Diane C. Davis to its Board of Directors, enhancing its governance and strategic capabilities as it aims for sustainable growth and community service [1][6]. Company Overview - First Northwest Bancorp (NASDAQ: FNWB) is a financial holding company that operates First Fed Bank, which has been serving the Pacific Northwest since 1923 [7]. - First Fed Bank currently has 18 locations in Washington State, including 12 full-service branches, and focuses on delivering a wide range of financial products and services [7]. - The company emphasizes building sustainable earnings and has made strategic investments, including a 2022 investment in The Meriwether Group, LLC [7]. Appointment of Diane C. Davis - Diane C. Davis brings over 25 years of leadership experience in the insurance industry, with a strong background in executive management, strategy, risk management, and corporate governance [2][4]. - Her previous roles include Chief Risk Officer and President at Farmers New World Life Insurance Company, and Regional Chief Risk Officer at Zurich Insurance Company Ltd. [4]. - Davis holds a Bachelor of Science in Actuarial Science and an MBA, and is a Fellow of the Society of Actuaries [5]. Strategic Importance - The appointment of Davis is seen as a significant asset for First Fed Bank, aligning with its long-term goals of risk oversight and governance [3][6]. - The company aims to strengthen its governance and ensure long-term financial security for its customers and communities through this appointment [6]. Recognition and Awards - First Fed Bank has been recognized as a Best Workplace and top Corporate Philanthropist by Puget Sound Business Journal in 2023 and 2024 [8]. - The bank also received awards for Best Bank and Best Lender in Clallam County in 2024 [8].

Company Leadership Transition - First Northwest Bancorp announced the resignation of Matthew P. Deines as President and CEO, effective July 12, 2025, with Geraldine L. Bullard appointed as Interim CEO starting July 13, 2025 [1][2] - The boards of directors expressed gratitude for Deines' six years of service and confidence in Bullard's ability to lead during the transition [2] - An executive search firm has been engaged to assist in finding a permanent replacement for the CEO position [2] Background of Geraldine Bullard - Geraldine Bullard has been with First Northwest since January 2020, serving as Executive Vice President and COO since October 2023, and previously as CFO from March 2020 to March 2025 [3] - Bullard has extensive experience in the banking sector, having held various financial leadership roles prior to joining First Fed [3] Company Overview - First Northwest Bancorp is a financial holding company with its subsidiary, First Fed Bank, which has been operational since 1923 and currently has 18 locations in Washington state [4] - The company focuses on sustainable earnings through a comprehensive range of financial products and services for individuals, small businesses, and non-profit organizations [4] - First Northwest made an investment in The Meriwether Group, LLC in 2022 and emphasizes strategic partnerships for modern financial services [4]

PART I - FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=3&type=section&id=Item%201%20-%20Financial%20Statements%20%28Unaudited%29) Presents unaudited consolidated financial statements and notes, detailing financial position, operations, and cash flows [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) [Consolidated Statements of Operations](index=4&type=section&id=Consolidated%20Statements%20of%20Operations) [Consolidated Statements of Comprehensive (Loss) Income](index=5&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20%28Loss%29%20Income) [Consolidated Statements of Changes in Shareholders' Equity](index=6&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Shareholders%27%20Equity) [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) [Notes to Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Consolidated Balance Sheet Highlights (March 31, 2025 vs. December 31, 2024) | Metric | March 31, 2025 (in thousands) | December 31, 2024 (in thousands) | Change (in thousands) | % Change | | :----- | :---------------------------- | :------------------------------- | :-------------------- | :------- | | Total Assets | $2,171,430 | $2,232,006 | $(60,576) | (2.71)% | | Total Liabilities | $2,024,938 | $2,078,124 | $(53,186) | (2.56)% | | Total Shareholders' Equity | $146,492 | $153,882 | $(7,390) | (4.80)% | Consolidated Statements of Operations Highlights (Three Months Ended March 31, 2025 vs. 2024) | Metric | Three Months Ended March 31, 2025 (in thousands) | Three Months Ended March 31, 2024 (in thousands) | Change (in thousands) | % Change | | :----- | :--------------------------------------------- | :--------------------------------------------- | :-------------------- | :------- | | Total Interest Income | $26,823 | $27,326 | $(503) | (1.84)% | | Total Interest Expense | $12,976 | $13,398 | $(422) | (3.15)% | | Net Interest Income | $13,847 | $13,928 | $(81) | (0.58)% | | Provision for Credit Losses | $7,785 | $970 | $6,815 | 702.58% | | Total Noninterest Income | $3,777 | $2,188 | $1,589 | 72.62% | | Total Noninterest Expense | $20,000 | $14,303 | $5,697 | 39.83% | | Net (Loss) Income | $(9,036) | $396 | $(9,432) | (2381.82)% | | Basic and Diluted (Loss) Earnings per Common Share | $(1.03) | $0.04 | $(1.07) | (2675.00)% | Consolidated Statements of Cash Flows Highlights (Three Months Ended March 31, 2025 vs. 2024) | Metric | Three Months Ended March 31, 2025 (in thousands) | Three Months Ended March 31, 2024 (in thousands) | Change (in thousands) | | :----- | :--------------------------------------------- | :--------------------------------------------- | :-------------------- | | Net cash used by operating activities | $(21,743) | $(4,865) | $(16,878) | | Net cash provided (used) by investing activities | $69,297 | $(78,466) | $147,763 | | Net cash (used) provided by financing activities | $(49,679) | $37,508 | $(87,187) | | Net decrease in cash and cash equivalents | $(2,125) | $(45,823) | $43,698 | | Cash and cash equivalents at end of period | $70,323 | $77,346 | $(7,023) | [Note 1 - Basis of Presentation and Critical Accounting Policies](index=9&type=section&id=Note%201%20-%20Basis%20of%20Presentation%20and%20Critical%20Accounting%20Policies) [Note 2 - Securities](index=11&type=section&id=Note%202%20-%20Securities) [Note 3 - Loans Receivable](index=14&type=section&id=Note%203%20-%20Loans%20Receivable) [Note 4 - Allowance for Credit Losses on Loans](index=20&type=section&id=Note%204%20-%20Allowance%20for%20Credit%20Losses%20on%20Loans) [Note 5 - Deposits](index=21&type=section&id=Note%205%20-%20Deposits) [Note 6 - Borrowings](index=22&type=section&id=Note%206%20-%20Borrowings) [Note 7 - Income Tax](index=23&type=section&id=Note%207%20-%20Income%20Tax) [Note 8 - Earnings (Loss) per Common Share](index=25&type=section&id=Note%208%20-%20Earnings%20%28Loss%29%20per%20Common%20Share) [Note 9 - Employee Benefits](index=25&type=section&id=Note%209%20-%20Employee%20Benefits) [Note 10 - Stock-based Compensation](index=26&type=section&id=Note%2010%20-%20Stock-based%20Compensation) [Note 11 - Fair Value Measurements](index=27&type=section&id=Note%2011%20-%20Fair%20Value%20Measurements) [Note 12 - Change in Accumulated Other Comprehensive Income ("AOCI")](index=31&type=section&id=Note%2012%20-%20Change%20in%20Accumulated%20Other%20Comprehensive%20Income%20%28%22AOCI%22%29) [Note 13 - Derivatives and Hedging Activities](index=32&type=section&id=Note%2013%20-%20Derivatives%20and%20Hedging%20Activities) [Note 14 - Segment Reporting](index=34&type=section&id=Note%2014%20-%20Segment%20Reporting) [Note 15 - Contingencies](index=34&type=section&id=Note%2015%20-%20Contingencies) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=34&type=section&id=Item%202%20-%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, condition, and critical accounting policies, comparing results for recent periods - Total assets decreased by **$60.6 million** (**2.7%**) to **$2.17 billion** at **March 31, 2025**, from **$2.23 billion** at **December 31, 2024**[143](index=143&type=chunk) - Net loans decreased by **$37.6 million** (**2.2%**) to **$1.64 billion**, with commercial business loans decreasing **$31.7 million** and construction and land loans decreasing **$13.2 million**[147](index=147&type=chunk)[149](index=149&type=chunk) - Total liabilities decreased by **$53.2 million** to **$2.02 billion**, driven by a **$45.0 million** decrease in brokered deposits and a **$28.9 million** decrease in borrowings, partially offset by a **$23.0 million** increase in customer deposits[162](index=162&type=chunk)[163](index=163&type=chunk) - Total shareholders' equity decreased by **$7.4 million** to **$146.5 million**, mainly due to a **$9.0 million** net loss and a **$425,000** decrease in post-tax fair market value of derivatives[165](index=165&type=chunk) - The Company reported a net loss of **$(9.0) million** for **Q1 2025**, a significant decline from net income of **$396,000** in **Q1 2024**[166](index=166&type=chunk) - Net interest income decreased by **$81,000** (**0.6%**) to **$13.9 million**, as declines in loan and interest-earning deposit income slightly outpaced reduced deposit costs[167](index=167&type=chunk) - Provision for credit losses increased significantly to **$7.8 million** in **Q1 2025** from **$970,000** in **Q1 2024**, primarily due to net charge-offs totaling **$7.7 million**[174](index=174&type=chunk) - Noninterest income increased by **$1.6 million** (**72.6%**) to **$3.8 million**, driven by a **$1.1 million** BOLI death benefit and an **$846,000** gain on extinguishment of debt[175](index=175&type=chunk) - Noninterest expense increased by **$5.7 million** (**39.8%**) to **$20.0 million**, mainly due to a **$5.8 million** accrued legal reserve included in other expense[176](index=176&type=chunk) - An income tax benefit of **$1.1 million** was recorded in **Q1 2025**, compared to an expense of **$447,000** in **Q1 2024**[177](index=177&type=chunk) Regulatory Capital Ratios (March 31, 2025) | Capital Ratio | Actual Ratio | Minimum Requirement | Well-Capitalized Requirement | | :------------ | :----------- | :------------------ | :--------------------------- | | Tier 1 leverage capital | **9.0%** | **4.0%** | **5.0%** | | Common equity tier 1 | **12.1%** | **4.5%** | **6.5%** | | Tier 1 risk-based capital | **12.1%** | **6.0%** | **8.0%** | | Total risk-based capital | **13.4%** | **8.0%** | **10.0%** | [Forward-Looking Statements](index=35&type=section&id=Forward-Looking%20Statements) [General](index=36&type=section&id=General) [Recent Regulatory Developments](index=37&type=section&id=Recent%20Regulatory%20Developments) [Critical Accounting Policies](index=37&type=section&id=Critical%20Accounting%20Policies) [Comparison of Financial Condition at March 31, 2025 and December 31, 2024](index=37&type=section&id=Comparison%20of%20Financial%20Condition%20at%20March%2031%2C%202025%20and%20December%2031%2C%202024) [Comparison of Results of Operations for the Three Months Ended March 31, 2025 and 2024](index=42&type=section&id=Comparison%20of%20Results%20of%20Operations%20for%20the%20Three%20Months%20Ended%20March%2031%2C%202025%20and%202024) [Average Balances, Interest and Average Yields/Cost](index=46&type=section&id=Average%20Balances%2C%20Interest%20and%20Average%20Yields%2FCost) [Rate/Volume Analysis](index=47&type=section&id=Rate%2FVolume%20Analysis) [Off-Balance Sheet Activities](index=47&type=section&id=Off-Balance%20Sheet%20Activities) [Contractual Obligations](index=48&type=section&id=Contractual%20Obligations) [Commitments and Off-Balance Sheet Arrangements](index=48&type=section&id=Commitments%20and%20Off-Balance%20Sheet%20Arrangements) [Liquidity Management](index=48&type=section&id=Liquidity%20Management) [Capital Resources](index=49&type=section&id=Capital%20Resources) [Effect of Inflation and Changing Prices](index=50&type=section&id=Effect%20of%20Inflation%20and%20Changing%20Prices) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=50&type=section&id=Item%203%20-%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Reports no material changes to market risk disclosures from the 2024 Form 10-K, indicating consistent risk management - No material changes in market risk disclosures from the **2024 Form 10-K**[199](index=199&type=chunk) [Item 4. Controls and Procedures](index=50&type=section&id=Item%204%20-%20Controls%20and%20Procedures) Confirms effectiveness of disclosure controls and procedures, with no material changes in internal control over financial reporting - The Company's disclosure controls and procedures were effective as of **March 31, 2025**[201](index=201&type=chunk) - There have been no material changes in the Company's internal control over financial reporting during the quarter ended **March 31, 2025**[202](index=202&type=chunk) PART II - OTHER INFORMATION [Item 1. Legal Proceedings](index=51&type=section&id=Item%201%20-%20Legal%20Proceedings) Discloses ongoing legal proceedings, including a **$5.8 million** legal reserve for an adversary proceeding related to borrower bankruptcies - A **$5.8 million** legal reserve was established for an adversary proceeding related to borrower bankruptcies and newly raised claims of financial misconduct, included in other noninterest expense for **Q1 2025**[208](index=208&type=chunk) [Item 1A. Risk Factors](index=51&type=section&id=Item%201A%20-%20Risk%20Factors) Reports no material changes to risk factors from the Company's 2024 Form 10-K - No material changes to risk factors from the Company's **2024 Form 10-K**[209](index=209&type=chunk) [Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities](index=51&type=section&id=Item%202%20-%20Unregistered%20Sales%20of%20Equity%20Securities%2C%20Use%20of%20Proceeds%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Reports common stock repurchases for tax obligations and confirms no repurchases under the April 2024 plan, with shares remaining - Common stock repurchases for tax obligations related to restricted stock awards totaled **7,279 shares** during the three months ended **March 31, 2025**[210](index=210&type=chunk) - As of **March 31, 2025**, **846,123 shares** remain available for future purchases under the **April 2024** stock repurchase plan, with no shares repurchased under this plan during the reported period[211](index=211&type=chunk) [Item 3. Defaults Upon Senior Securities](index=52&type=section&id=Item%203%20-%20Defaults%20Upon%20Senior%20Securities) States this item is not applicable, indicating no defaults upon senior securities - Not applicable[213](index=213&type=chunk) [Item 4. Mine Safety Disclosures](index=52&type=section&id=Item%204%20-%20Mine%20Safety%20Disclosures) States this item is not applicable, indicating no mine safety disclosures - Not applicable[214](index=214&type=chunk) [Item 5. Other Information](index=52&type=section&id=Item%205%20-%20Other%20Information) Reports no director or officer adopted or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements - No director or officer adopted or terminated a **Rule 10b5-1** or **non-Rule 10b5-1** trading arrangement during the fiscal quarter ended **March 31, 2025**[215](index=215&type=chunk) [Item 6. Exhibits](index=52&type=section&id=Item%206%20-%20Exhibits) Lists exhibits filed with Form 10-Q, including incentive plans, stock agreements, certifications, and XBRL data - Exhibits include **First Fed 2025 Executive Officer Incentive Plan**, **Amended Executive Change in Control Plan**, **Restricted Stock Unit Award Agreement**, **Section 302** and **906** certifications, and **iXBRL** financial data[216](index=216&type=chunk) SIGNATURES [Signatures](index=53&type=section&id=Signatures) Contains official signatures of the President, CEO, Director, and EVP & CFO, certifying the report - The report was signed by **Matthew P. Deines** (President, Chief Executive Officer and Director) and **Phyllis R. Nomura** (Executive Vice President and Chief Financial Officer) on **May 12, 2025**[220](index=220&type=chunk)

Financial Performance - First Northwest Bancorp reported net income of $1.5 million for Q1 2025, a significant improvement from a net loss of $2.8 million in Q4 2024 and net income of $396,000 in Q1 2024[1]. - Adjusted pre-tax, pre-provision net revenue (PPNR) for Q1 2025 was $1.5 million, up from $1.4 million in the previous quarter and $1.2 million in Q1 2024[2]. - Total revenue for Q1 2025 was $17.9 million, an increase from $15.4 million in the previous quarter[11]. - Net interest income after provision for credit losses increased to $12,279 thousand, compared to $10,482 thousand in the previous quarter, reflecting a 17.2% improvement[34]. - Net income for the quarter was $1,514 thousand, a recovery from a net loss of $2,810 thousand in the previous quarter[34]. - Basic and diluted earnings per share improved to $0.17, compared to a loss of $0.32 per share in the previous quarter[34]. - The return on average assets (GAAP) improved to 0.28% from -0.51% year-over-year[41]. Loan and Deposit Trends - Nonperforming loans decreased by $4.1 million, or 13.5%, to $26.4 million at March 31, 2025, compared to December 31, 2024[13]. - Total net loans decreased by $31.4 million, or 1.9%, to $1.64 billion at March 31, 2025, compared to $1.68 billion at December 31, 2024[19]. - Total deposits decreased by $22.0 million to $1.67 billion at March 31, 2025, compared to $1.69 billion at December 31, 2024[21]. - Commercial business loans decreased by $31.0 million, or 20.5%, compared to the previous quarter[20]. - Total loans outstanding as of March 31, 2025, were $1,663,849 thousand, a decrease from $1,695,823 thousand in the previous quarter[36]. Credit Quality and Allowance - The allowance for credit losses on loans increased to $20.6 million, representing 1.24% of total loans, up from 1.21% at the end of 2024[12]. - Provision for credit losses was $1.55 million for the quarter ended March 31, 2025, compared to $3.76 million for the previous quarter[19]. - Provision for credit losses on loans was $1,553 thousand, significantly lower than $3,760 thousand in the previous quarter, indicating improved credit quality[34]. - The provision for credit losses was $1,568 for the quarter, down from $3,655 in the previous quarter[41]. Expenses and Dividends - Total noninterest expense was relatively unchanged at $14.3 million for Q1 2025, consistent with the previous quarter and Q1 2024[15]. - Total noninterest expense remained stable at $14,249 thousand, slightly up from $14,233 thousand in the previous quarter[34]. - The company declared a quarterly cash dividend of $0.07 per common share, payable on May 23, 2025[2]. - First Northwest Bancorp paid cash dividends totaling $649,000 in Q1 2025, with no shares repurchased under the Stock Repurchase Plan[24]. Asset Management - Total assets as of March 31, 2025, were $2,176,430,000, a decrease from $2,232,006,000 as of December 31, 2024[32]. - Total liabilities were $2,019,388,000 as of March 31, 2025, compared to $2,078,124,000 as of December 31, 2024[32]. - Total shareholders' equity increased to $157.0 million at March 31, 2025, from $153.9 million three months earlier[21]. - Shareholders' equity increased to $157,042,000 as of March 31, 2025, from $153,882,000 as of December 31, 2024[32]. - The company maintained a book value per common share of $16.63, up from $16.45 in the previous quarter[42]. Strategic Initiatives - The company is evaluating the potential for future stock buybacks due to improved profitability[3]. - First Northwest Bancorp focuses on strategic partnerships to enhance modern financial services, including digital payments and marketplace lending[27]. - The company made an investment in The Meriwether Group, LLC, a boutique investment banking and accelerator firm in 2022[27]. - The company has 18 locations in Washington state, including 12 full-service branches[27]. - The company has 846,123 shares remaining available for repurchase under the Repurchase Plan[24]. Market and Economic Conditions - Forward-looking statements indicate potential risks including competitive pressures and changes in the interest rate environment[28]. - The effective duration of the investment securities portfolio was approximately 4.3 years at March 31, 2025[18]. - The market value of the investment securities portfolio increased by $3.1 million during the first quarter of 2025[18]. - Total interest income for the quarter ended March 31, 2025, was $26,823 thousand, a decrease of 4.2% from $28,197 thousand in the previous quarter[34]. - Total interest-earning assets increased to $2,031,741, with a yield of 5.35%, compared to $2,027,821 and a yield of 5.42% in 2024[38]. - The net interest margin remained stable at 2.76% for both periods[38].

Financial Performance - First Northwest Bancorp (FNWB) reported quarterly earnings of $0.17 per share, exceeding the Zacks Consensus Estimate of $0.12 per share, and up from $0.04 per share a year ago, representing an earnings surprise of 41.67% [1] - The company posted revenues of $17.94 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 12.82%, compared to year-ago revenues of $16.12 million [2] - Over the last four quarters, FNWB has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance and Outlook - FNWB shares have remained flat since the beginning of the year, contrasting with the S&P 500's decline of -8.6% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is $0.11 on revenues of $16.9 million, and $0.59 on revenues of $68.8 million for the current fiscal year [7] Industry Context - The Zacks Industry Rank indicates that the Banks - West industry is currently in the bottom 42% of over 250 Zacks industries, suggesting potential challenges for stock performance [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors or through tools like the Zacks Rank [5][6]

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 dil ...

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 dilu ...

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 dil ...

Core Insights - First Northwest Bancorp has promoted Phyllis Nomura to Executive Vice President and Chief Financial Officer of First Fed Bank, effective immediately [1][2] - Nomura has over 30 years of experience in accounting, finance, and audit, and was previously the Senior Director of Accounting at First Fed [2][4] - Geri Bullard will continue as Chief Operating Officer, focusing on enhancing profitability and efficiency within the bank [5] Company Background - First Northwest Bancorp is a financial holding company with its subsidiary, First Fed Bank, which has been serving customers since 1923 and operates 18 locations in Washington state [7] - The bank's strategy emphasizes sustainable earnings through a comprehensive range of financial products and services for various customer segments [7] - First Fed Bank has received multiple accolades, including recognition as a Best Workplace and top Corporate Philanthropist in 2023 and 2024 [8]