Core Viewpoint - First Fed Bank has promoted Kyle Henderson to Chief Credit Officer, succeeding Terry Anderson, who has retired after six years in the role [1][5]. Group 1: Leadership Transition - Kyle Henderson has been with First Fed since 2023 as Deputy Chief Credit Officer and is expected to ensure a smooth transition in credit administration leadership [1][2]. - Henderson has 16 years of experience in credit administration and financial services, previously serving as EVP of Credit for FirstBank in Denver, Colorado [3]. Group 2: Company Background - First Northwest Bancorp (FNWB) is a financial holding company that operates First Fed Bank, focusing on small business and community banking since 1923 [5]. - First Fed Bank has 18 locations in Washington state, including 12 full-service branches, and aims to build sustainable earnings through a full array of financial products and services [5]. Group 3: Community Engagement and Recognition - First Fed Bank has been recognized as a top Corporate Philanthropist in 2024 and has received multiple awards for being the best bank in various categories [6].

"As a community bank, First Fed is an essential partner for many local businesses, families, and individuals. I'm honored to continue supporting our customers while balancing risk to ensure our bank's long-term stability and sustainable growth," said Henderson. "Terry has been a steadfast leader over the past six years. He will always be part of the First Fed family. We wish Terry well in his next chapter of life," said Deines. First Northwest Bancorp (Nasdaq: FNWB) is a financial holding company engaged in ...

Table of Contents 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 March 31, 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: 001-36741 FIRST NORTHWEST BANCORP | (Exact name of registrant as specified in its charter) | | | --- | --- | | W ...

Exhibit 99.1 PORT ANGELES, Wash., April 25, 2024 (GLOBE NEWSWIRE) First Northwest Bancorp Reports First Quarter 2024 Financial Results "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 seco ...

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 bankin ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Commission File Number: 001-36741 FIRST NORTHWEST BANCORP (Exact name of registrant as specified in its charter) Washington 46-1259100 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer I.D. Number) 105 West 8th Street, Port Angeles, Washington 98362 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (360) 457-0461 Securities registered pursuant ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Table of Contents FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 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: 001-36741 FIRST NORTHWEST BANCORP | (Exact name of registrant as specified in its charter) | | | --- | --- | ...

Table of Contents 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, 2023 Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting comp ...

Table of Contents 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 March 31, 2023 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: 001-36741 FIRST NORTHWEST BANCORP | (Exact name of registrant as specified in its charter) | | | --- | --- | | W ...

Financial Position - The net book value of the Company's properties totaled $15.9 million as of December 31, 2022[348]. - Total assets increased by $121.0 million, or 6.3%, to $2.04 billion at December 31, 2022, from $1.92 billion at December 31, 2021[374]. - Total liabilities increased by $153.2 million, or 8.9%, to $1.88 billion at December 31, 2022, primarily due to a $166.1 million increase in borrowings, or 139.2%[387]. - Total shareholders' equity decreased by $29.4 million, or 15.4%, to $161.6 million at December 31, 2022, driven by a $40.8 million change in accumulated other comprehensive loss[389]. - The company's total shareholders' equity decreased to $158,282 thousand in 2022 from $190,480 thousand in 2021, a decline of approximately 16.9%[448]. Loan and Asset Performance - Total loans, excluding loans held for sale, increased by $177.2 million, or 13.1%, during the year ended December 31, 2022[375]. - Multi-family and commercial real estate loans increased by $108.1 million, or 20.2%, primarily due to new originations[375]. - One- to four-family residential loans increased by $48.9 million, or 16.6%, with $40.5 million in construction loans converting to permanent amortizing loans[376]. - Nonperforming assets were $1.8 million at December 31, 2022, compared to $1.4 million at December 31, 2021[366]. - Nonperforming loans increased by $409,000, or 29.6%, during the year ended December 31, 2022, to $1.8 million[380]. Income and Revenue - Net interest income increased by $11.6 million, or 19.8%, to $69.9 million for the year ended December 31, 2022, mainly due to higher average balances of loans receivable[391]. - Interest income increased by $16.7 million, or 26.2%, to $80.4 million for the year ended December 31, 2022, primarily from an increase in the average balance of loans receivable[394]. - Noninterest income decreased by 34.0% to $10.3 million for the year ended December 31, 2022, primarily due to lower gains on the sale of mortgage loans and investment securities[401]. - The net income attributable to the parent for 2022 was $15,645 thousand, slightly up from $15,418 thousand in 2021, reflecting a growth of 1.5%[450]. - Net income for the year ended December 31, 2022, was $13,496,000, a decrease from $14,979,000 in 2021, representing a decline of approximately 10.5%[458]. Expenses and Provisions - Noninterest expense increased to $62.3 million for the year ended December 31, 2022, from $54.4 million in 2021, reflecting higher data processing and occupancy expenses[402]. - The provision for loan losses increased to $1.535 million for the year ended December 31, 2022, compared to $1.350 million in 2021, reflecting loan growth and increased net charge-offs[400]. - Total noninterest expense increased by $7.9 million, or 14.5%, from $54.4 million in 2021 to $62.3 million in 2022[404]. - Compensation and benefits rose by $2.4 million, or 7.2%, from $33.5 million in 2021 to $35.9 million in 2022[404]. Capital and Regulatory Compliance - The capital conservation buffer was 2.5% as of December 31, 2022, in compliance with regulatory requirements[429]. - The Bank's Tier I leverage capital ratio was 10.4%, exceeding the minimum requirement of 4.0%[432]. - Total risk-based capital ratio was 14.4%, surpassing the minimum requirement of 8.0%[432]. Shareholder Activities - The Company repurchased a total of 259,862 shares of common stock during the quarter ended December 31, 2022, at an average price of $14.64 per share[355]. - The Company has authorized the repurchase of up to an additional 1,023,420 shares of its common stock, representing approximately 10% of its shares outstanding as of October 27, 2020[353]. - Total cash dividends declared and paid in 2022 were $2,787,000, compared to $2,533,000 in 2021, reflecting an increase of 10%[461]. Investment and Strategic Initiatives - The Company has a ten-year commitment to invest $3 million in Canapi Ventures to support fintech start-ups[364]. - The Company aims to increase noninterest income through SBA loan products and treasury management services, anticipating future revenue from fintech partnerships[364]. - The Company plans to enhance its digital presence and customer experience by investing in online services and customer relationship management software[364]. - The company plans to expand offerings for small-to-medium sized businesses, focusing on payment opportunities and treasury management[370]. Market and Economic Factors - The Company maintains a general allowance for loan losses based on known and inherent risks in the loan portfolio, considering factors such as economic conditions and the impact of the COVID-19 pandemic[496]. - The ultimate recovery of loans is susceptible to future market factors, which may result in significant differences from the provisions in the financial statements[498]. - The company has loan servicing rights that are initially capitalized at fair value, with the fair value of the servicing asset amortized into noninterest income over the estimated future net servicing income[510].