First Financial Northwest, Inc. Announces Declaration of Initial Liquidating Distribution; Stock Transfer Books Closed
First Financial Northwest (NASDAQ: FFNW) has declared an initial liquidating distribution of $22.00 per share, totaling approximately $203 million, as part of its Plan of Dissolution. This represents about 95% of the anticipated total distribution to shareholders.
The distribution will be paid on April 30, 2025, to shareholders of record as of April 23, 2025. The company has closed its stock transfer books and filed Form 25 with the SEC to delist from Nasdaq Capital Market. FFNW expects to file Form 15 around May 1 to suspend periodic reporting obligations.
The company estimates total distributions to shareholders will potentially range between $23.06 to $23.34 per share, subject to various factors including payment of creditors, taxes, and other obligations. A final distribution date remains undetermined. Computershare will serve as the paying agent for these liquidating distributions.
First Financial Northwest (NASDAQ: FFNW) ha dichiarato una distribuzione liquidatoria iniziale di 22,00 $ per azione, per un totale di circa 203 milioni di dollari, nell'ambito del suo Piano di Scioglimento. Questo rappresenta circa il 95% della distribuzione totale prevista agli azionisti.
La distribuzione sarà effettuata il 30 aprile 2025, agli azionisti registrati al 23 aprile 2025. La società ha chiuso i registri di trasferimento azionario e ha depositato il Modulo 25 presso la SEC per la cancellazione dalla Nasdaq Capital Market. FFNW prevede di presentare il Modulo 15 intorno al 1° maggio per sospendere gli obblighi di rendicontazione periodica.
La società stima che le distribuzioni totali agli azionisti potrebbero oscillare tra 23,06 e 23,34 $ per azione, soggette a vari fattori, inclusi pagamenti ai creditori, tasse e altri obblighi. La data finale della distribuzione non è ancora stata stabilita. Computershare fungerà da agente pagatore per queste distribuzioni liquidatorie.
First Financial Northwest (NASDAQ: FFNW) ha declarado una distribución liquidativa inicial de 22,00 $ por acción, que suma aproximadamente 203 millones de dólares, como parte de su Plan de Disolución. Esto representa alrededor del 95% de la distribución total anticipada a los accionistas.
La distribución se pagará el 30 de abril de 2025, a los accionistas registrados al 23 de abril de 2025. La compañía ha cerrado sus libros de transferencia de acciones y presentado el Formulario 25 ante la SEC para su exclusión del Nasdaq Capital Market. FFNW espera presentar el Formulario 15 alrededor del 1 de mayo para suspender las obligaciones de reporte periódico.
La compañía estima que las distribuciones totales a los accionistas podrían oscilar entre 23,06 y 23,34 $ por acción, sujetas a diversos factores, incluidos pagos a acreedores, impuestos y otras obligaciones. La fecha final de distribución aún no se ha determinado. Computershare actuará como agente pagador para estas distribuciones liquidativas.
First Financial Northwest (NASDAQ: FFNW)는 해산 계획의 일환으로 주당 22.00달러의 초기 청산 배당금을 선언했으며, 총 약 2억 3천만 달러에 달합니다. 이는 예상 총 배당금의 약 95%에 해당합니다.
배당금은 2025년 4월 30일에, 2025년 4월 23일 기준 주주 명부에 등록된 주주들에게 지급될 예정입니다. 회사는 주식 이전 장부를 마감하고, 나스닥 자본시장(Nasdaq Capital Market)에서 상장 폐지를 위해 SEC에 Form 25를 제출했습니다. FFNW는 5월 1일경 Form 15를 제출하여 정기 보고 의무를 중단할 계획입니다.
회사는 채권자 지급, 세금 및 기타 의무 등을 포함한 여러 요인에 따라 주당 23.06~23.34달러 범위 내에서 총 배당금이 결정될 것으로 예상합니다. 최종 배당금 지급일은 아직 확정되지 않았습니다. 컴퓨터쉐어(Computershare)가 이 청산 배당금의 지급 대행을 맡습니다.
First Financial Northwest (NASDAQ : FFNW) a déclaré une distribution liquidative initiale de 22,00 $ par action, pour un total d'environ 203 millions de dollars, dans le cadre de son plan de dissolution. Cela représente environ 95 % de la distribution totale prévue aux actionnaires.
La distribution sera versée le 30 avril 2025 aux actionnaires inscrits au 23 avril 2025. La société a clôturé ses registres de transfert d’actions et déposé le formulaire 25 auprès de la SEC pour se retirer du Nasdaq Capital Market. FFNW prévoit de déposer le formulaire 15 vers le 1er mai afin de suspendre ses obligations de reporting périodique.
La société estime que les distributions totales aux actionnaires pourraient se situer entre 23,06 $ et 23,34 $ par action, sous réserve de divers facteurs, notamment le paiement des créanciers, des taxes et autres obligations. La date finale de distribution reste indéterminée. Computershare agira en tant qu’agent payeur pour ces distributions liquidatives.
First Financial Northwest (NASDAQ: FFNW) hat eine erste Liquidationsausschüttung von 22,00 $ pro Aktie angekündigt, insgesamt etwa 203 Millionen Dollar, im Rahmen seines Auflösungsplans. Dies entspricht etwa 95 % der erwarteten Gesamtausschüttung an die Aktionäre.
Die Ausschüttung wird am 30. April 2025 an die zum 23. April 2025 eingetragenen Aktionäre ausgezahlt. Das Unternehmen hat seine Aktienübertragungsbücher geschlossen und bei der SEC das Formular 25 eingereicht, um die Notierung am Nasdaq Capital Market zu beenden. FFNW plant, um den 1. Mai herum das Formular 15 einzureichen, um die periodischen Berichtspflichten auszusetzen.
Das Unternehmen schätzt, dass die Gesamtausschüttungen an die Aktionäre voraussichtlich zwischen 23,06 und 23,34 $ pro Aktie liegen werden, abhängig von verschiedenen Faktoren wie der Zahlung von Gläubigern, Steuern und anderen Verpflichtungen. Ein endgültiges Ausschüttungsdatum steht noch nicht fest. Computershare wird als Zahlstelle für diese Liquidationsausschüttungen fungieren.
- Initial liquidating distribution of $22.00 per share represents 95% of anticipated proceeds
- Total expected distribution range of $23.06-$23.34 per share
- Prompt distribution timeline with payment scheduled for April 30, 2025
- Company is dissolving and will be delisted from Nasdaq
- Final distribution amount and timing remain uncertain
- Stock transfer books are closed, limiting share transferability
Insights
FFNW implementing dissolution plan with $22/share initial payout (95% of total), delisting from Nasdaq with final distribution later.
First Financial Northwest is executing its Plan of Dissolution with an initial liquidating distribution of
The company has closed its stock transfer books and filed to delist from Nasdaq, with suspension of SEC reporting obligations expected around May 1. These actions effectively mark the end of FFNW as a publicly traded entity.
What's particularly notable is the speed of this capital return - within days shareholders will receive
This distribution structure indicates management's confidence in their liability estimates, as they're immediately releasing most proceeds while maintaining a modest reserve for wind-down expenses. After the initial distribution, remaining FFNW shares will become illiquid as they'll no longer trade on major exchanges.
The timing of the final distribution remains undetermined, as it depends on the complete wind-down process and settlement of all obligations.
RENTON, Wash., April 21, 2025 (GLOBE NEWSWIRE) -- First Financial Northwest, Inc. (NASDAQ GS: FFNW) (the “Company”) today announced that its Board of Directors has declared an initial liquidating distribution pursuant to its previously announced Plan of Dissolution in the amount of
The Company intends to make a final cash distribution to shareholders subject to first completing the wind down of the Company and paying or providing for the Company’s creditors and existing and reasonably foreseeable debts, taxes, liabilities, and obligations in accordance with Washington law and the Plan of Dissolution. Funds remaining, if any, after paying taxes and expenses will result in a subsequent distribution to shareholders. At this time, the Company estimates that total distributions to shareholders (subject to a significant number of variables and assumptions) will potentially be in the
About First Financial Northwest, Inc.
First Financial Northwest, Inc. is the former parent company of First Financial Northwest Bank, a Washington State-chartered commercial bank headquartered in Renton, Washington. For additional information visit ffnw.q4ir.com.
Forward-looking statements:
When used in this press release and in other documents filed with or furnished to the Securities and Exchange Commission (the “SEC”), in press releases or other public shareholder communications, or in oral statements made with the approval of an authorized executive officer, the words or phrases “believe,” “will,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “project,” “plans,” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts but instead represent management’s current expectations and forecasts regarding future events many of which are inherently uncertain and outside of our control. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, assumptions and statements about, among other things, the delisting, deregistration, wind-down and dissolution of the Company, the remaining expenses to be incurred in such process, and the remaining cash to be distributed to shareholders. These forward-looking statements are based on current management expectations and may, therefore, involve risks and uncertainties. Actual results may differ, possibly materially from those currently expected or projected in these forward-looking statements made by, or on behalf of, us, and other factors described in the Company’s latest Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other reports filed with or furnished to the SEC – that are available on our Investor Relations website at ffnw.q4ir.com and on the SEC’s website at sec.gov.
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 forward-looking statements, and undue reliance should not be placed on such statements. We do not undertake and specifically disclaim any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
Investor Contacts:
Rich Jacobson
Executive Vice President and Chief Financial Officer
jacobsonr@ffnorthwest.com
(206) 573-4973
Karla Evans
Assistant Vice President, Investor Relations
evansk@ffnorthwest.com
(206) 833-1259
FAQ
What is the initial liquidating distribution amount for First Financial Northwest (FFNW) shareholders?
When will FFNW shareholders receive the liquidating distribution payment?
What is the expected total distribution range for FFNW shareholders?
When will FFNW be delisted from Nasdaq?
Who is handling the liquidating distributions for FFNW shareholders?
