Washington bank sued by hedge fund names next CEO

Core Insights - First Northwest Bancorp and First Fed Bank have appointed Curt Queyrouze as the new CEO and president, effective Wednesday [8] - Queyrouze has a strong background in financial services, having spent about 40 years in the industry, and aims to honor the bank's 100-year history while delivering long-term value [3][4] - The selection process for Queyrouze was described as "exhaustive," highlighting the bank's commitment to finding a suitable leader [4] Leadership Transition - Geraldine Bullard, who served as interim CEO since July, will return to her role as chief operating officer [8] - Queyrouze previously held the position of president at Coastal Community Bank and was also president and CEO at TAB Bank for approximately eight years [8] Legal Issues - The bank is currently facing a lawsuit from Jefferies hedge fund 352 Capital Group, which claims $107 million in damages related to an alleged fraud scheme involving Water Station [6] - The bank disputes these allegations and plans to defend itself vigorously, as stated in its latest quarterly filing [6] - Following the resignation of former CEO Matthew Deines, the bank reached a settlement with some Water Station investors, agreeing to pay between $2.87 million and $5.74 million [7]