Cindy Hill-Finnie Promoted to First Fed Board Chair

Rhea-AI Summary

First Fed Bank, a subsidiary of First Northwest Bancorp (NASDAQ: FNWB), has appointed Cindy Hill-Finnie as the new Board Chair, making her the first woman to hold this position. Hill-Finnie, who has served on the board for ten years and has extensive experience in financial services and community involvement, emphasizes the bank's commitment to its community. Former Chair Steve Oliver remains on the board. First Fed Bank currently operates 16 branches in Washington state and is focused on sustainable earnings and digital financial solutions.

Positive

• Cindy Hill-Finnie becomes the first female Board Chair, enhancing diversity in leadership.
• Hill-Finnie has a strong background in financial management and community service, indicating capable governance.
• First Fed Bank's focus on fintech partnerships supports innovative financial solutions.

Negative

• None.

PORT ANGELES, Wash., June 09, 2022 (GLOBE NEWSWIRE) -- First Fed Bank, subsidiary of First Northwest Bancorp (NASDAQ: FNWB) (“Company”), today announced that Cindy Hill-Finnie has been promoted from Vice Chair to Board Chair. Hill-Finnie is the first woman to hold this leadership role on the Board of Directors. Jennifer Zaccardo has been promoted to Vice Chair.

“Cindy is a respected leader with extensive experience in financial management, sales, business development, and community service. She has demonstrated her leadership skills during her past 10 years on the board, most recently as Vice Chair. Cindy was a natural choice to become our new Board Chair,” said Matt Deines, President and CEO of First Fed Bank and FNWB.

“I’m honored to have been elected as the first female Board Chair for First Fed, which has a strong legacy of commitment to our communities. It will be exciting to celebrate our centennial in 2023 as we embark on the next 100 years,” said Hill-Finnie.

Hill-Finnie gained sales and financial services experience in her 38 years with Allstate Insurance. In 1995, she established Rainshadow Properties, a property management company in Port Townsend. Hill-Finnie was elected to the board in 2012.

Hill-Finnie has long been involved in local community organizations, serving as a director and past president of the Centrum Foundation, past Chair of the Washington State Arts Commission, past Chair of the Fort Worden Public Development Authority, a former director of the Jefferson County Community Foundation and a member of the City of Port Townsend Lodging Tax Advisory Committee and director of the Fort Worden Foundation.

Steve Oliver, the previous Board Chair, will remain an active member on the Board. Oliver has served on the board since 2001.

About First Fed

First Fed is a community-oriented financial institution which has served customers and communities since 1923. Currently First Fed has 16 locations in Washington state including 12 full-service branches. First Fed’s business and operating strategy is focused on building sustainable earnings by delivering a full array of financial products and services for individuals, small business, and commercial customers. Additionally, First Fed focuses on strategic partnerships with financial technology (“fintech”) companies to develop and deploy digitally focused financial solutions to meet customers’ needs on a broader scale. First Fed Bank is a subsidiary or First Northwest Bancorp (Nasdaq: FNWB), a bank holding company engaged in investment activities. In 2021, FNWB entered a joint venture to found Quin, a fintech focused on financial wellness and lifestyle protection for consumers nationwide. Other fintech partnership initiatives include banking-as-a-service, digital payments and marketplace lending. FNWB was incorporated in 2012 and is headquartered in Port Angeles, Washington. First Fed Bank is a member FDIC and equal housing lender.

Contact:

Matthew P. Deines

President & CEO

360-457-0461

IMAGE: Cindy + Jennifer

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/570fd380-2bf2-4e42-aaa9-958c0af0c040

FAQ

What recent leadership change occurred at First Northwest Bancorp (FNWB)?

Cindy Hill-Finnie has been promoted to Board Chair, the first woman to hold the position.

Who is the new Vice Chair of First Fed Bank?

Jennifer Zaccardo has been promoted to Vice Chair of First Fed Bank.

How many branches does First Fed Bank operate in Washington state?

First Fed Bank operates 16 branches in Washington state.

When is the centennial celebration for First Fed Bank?

First Fed Bank will celebrate its centennial in 2023.