Core Insights - First Northwest Bancorp reported a net income of $382,000 for Q4 2025, a decrease from $802,000 in Q3 2025 and a significant improvement from a net loss of $2.8 million in Q4 2024 [1] - The company aims to enhance its performance by leveraging data for operational efficiency, strengthening its core deposit base, and focusing on relationship-based loan growth [2] - The Board of Directors did not declare a dividend for the current quarter, reflecting a disciplined approach to capital management [4] Financial Performance - Net interest margin increased to 3.00% in Q4 2025 from 2.91% in Q3 2025, attributed to a decrease in rates paid on interest-bearing liabilities [7] - Total interest income decreased by $773,000 to $26.1 million in Q4 2025 compared to Q3 2025, and decreased by $2.1 million from Q4 2024 [16] - Total noninterest income rose by $1.7 million to $3.7 million in Q4 2025, driven by a reimbursement from the Bank's insurance carrier [16] Deposits and Loans - Total deposits decreased by $54.2 million to $1.6 billion at December 31, 2025, compared to $1.7 billion at September 30, 2025 [22] - Net loans increased by $4.2 million, or 0.3%, to $1.6 billion at December 31, 2025, from $1.6 billion at September 30, 2025 [19] - The customer deposit mix shifted towards increased average savings account balances while average balances of other accounts decreased [23] Credit Quality - The allowance for credit losses on loans increased to $17.0 million at December 31, 2025, from $16.2 million at September 30, 2025 [12] - Nonperforming loans rose to $22.6 million at December 31, 2025, from $13.4 million at September 30, 2025 [13] - The ratio of allowance for credit losses to nonperforming loans decreased to 75% at December 31, 2025, from 121% at September 30, 2025 [13] Capital and Equity - Total shareholders' equity increased to $157.3 million at December 31, 2025, compared to $154.5 million three months earlier [24] - The Bank was categorized as "well-capitalized" at December 31, 2025, with Common Equity Tier 1 and Total Risk-Based Capital Ratios at 12.5% and 13.6%, respectively [25]

Core Insights - First Fed Bank and its holding company, First Northwest Bancorp, announced the retirement of Norman J. Tonina, Jr. from the Boards of Directors effective December 9, 2025 [1] - Tonina served on the First Fed Board since 2012 and was an inaugural member of the FNWB Board starting in 2015, contributing significantly to the executive search and recruitment process [2][3] 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 since 1923, with 17 locations in Washington state [5] - The company focuses on sustainable earnings by offering a full range of financial products and services to individuals, small businesses, non-profits, and commercial customers [5] - First Northwest Bancorp was incorporated in 2012 and completed its initial public offering in 2015 under the ticker symbol FNWB [5] Leadership and Governance - Tonina was Chair of the Nominating and Corporate Governance Committee during his tenure and emphasized the importance of thoughtful succession planning [3][4] - The Nominating and Corporate Governance Committee is actively engaged in succession planning and will assess the need for a new Board member [4]

Core Viewpoint - First Northwest Bancorp reported a net income of $802,000 for Q3 2025, a decrease from $3.7 million in Q2 2025 and a net loss of $2.0 million in Q3 2024, indicating a challenging financial environment [1][2]. Financial Performance - Net income for Q3 2025 was $802,000, with basic and diluted earnings per share at $0.09, compared to $0.42 in Q2 2025 and a loss of $0.23 in Q3 2024 [1]. - Adjusted Pre-tax, Pre-Provision Net Revenue (PPNR) decreased to $340,000 in Q3 2025 from $2.1 million in Q2 2025 and $947,000 in Q3 2024 [8][10]. - Total revenue for Q3 2025 was $16.6 million, down from $17.6 million in Q2 2025 and $15.4 million in Q3 2024 [9]. Key Financial Ratios - Return on average assets was 0.15% for Q3 2025, down from 0.68% in Q2 2025 and a loss of 1.69% in Q3 2024 [4]. - Net interest margin improved to 2.91% in Q3 2025 from 2.83% in Q2 2025, marking five consecutive quarters of improvement [5][14]. - Efficiency ratio increased to 104.9% in Q3 2025 from 78.0% in Q2 2025, indicating rising operational costs [4]. Credit Quality - The allowance for credit losses on loans decreased to $16.2 million at September 30, 2025, from $18.4 million at June 30, 2025, reflecting improved credit quality [11]. - Nonperforming loans decreased to $13.4 million at September 30, 2025, from $20.4 million at June 30, 2025, indicating a positive trend in asset quality [12]. - The ratio of allowance for credit losses to nonperforming loans increased to 121% at September 30, 2025, from 90% at June 30, 2025 [12]. Capital Management - The Board of Directors did not declare a dividend for Q3 2025 as part of a prudent capital management strategy [2]. - Total shareholders' equity increased to $154.5 million at September 30, 2025, compared to $149.7 million at June 30, 2025, due to net income and fair market value increases [22]. - Common Equity Tier 1 and Total Risk-Based Capital Ratios were 12.7% and 13.7%, respectively, indicating strong capital levels [24]. Deposits and Loans - Total deposits decreased slightly to $1.65 billion at September 30, 2025, from $1.65 billion at June 30, 2025, and down from $1.71 billion a year earlier [22]. - Net loans decreased by $39.4 million, or 2.4%, to $1.61 billion at September 30, 2025, compared to $1.65 billion at June 30, 2025 [19][20].

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]

Core Viewpoint - First Northwest Bancorp announces the appointment of Curt Queyrouze as the new CEO and President, effective September 17, 2025, aiming to enhance long-term shareholder value and modernize the financial institution [1][2][4]. 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 17 locations in Washington state, including 12 full-service branches [7]. - The company focuses on sustainable earnings through a comprehensive range of financial products and services for individuals, small businesses, non-profits, and commercial customers [7]. - First Northwest has made strategic investments in partnerships aimed at developing modern financial solutions and a boutique investment banking/accelerator firm, reflecting its commitment to innovation and growth in the financial services sector [7]. Leadership Transition - Curt Queyrouze, with over 40 years of experience in financial services, will replace Matthew P. Deines, who left the company in July 2025 [3][5][6]. - Queyrouze's previous roles include President of Coastal Financial Corporation and CEO of TAB Bank, showcasing a diverse background in community and regional banking as well as fintech [5][6]. - The Board of Directors expressed confidence in Queyrouze's leadership capabilities, emphasizing his data-driven decision-making and dedication to community service [4].

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]

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 ...

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]