CORRECTION -- Andy Pohlman Joins First Federal as SVP and Regional Market President

Rhea-AI Summary

First Northwest Bancorp (NASDAQ: FNWB) corrected a previous press release regarding Andy Pohlman's appointment. He will serve as SVP and Regional Market President starting June 1, 2020, focusing on Retail Banking Strategy in Whatcom and Kitsap Counties and overseeing Investment Services. Pohlman brings extensive experience from his previous role at Peoples Bank, where he improved deposit growth. The company emphasizes its commitment to community leadership in Western Washington through this hire.

Positive

• Appointment of Andy Pohlman as SVP and Regional Market President enhances management expertise.
• Pohlman's previous success in deposit growth may positively impact First Federal's retail banking strategy.

Negative

• Dependence on Pohlman's leadership for strategic growth increases risk if expectations are not met.

PORT ANGELES, Wash., May 20, 2020 (GLOBE NEWSWIRE) -- In a press release issued under a similar headline earlier today by First Northwest Bancorp (NASDAQ: FNWB), please note that Andy Pohlman's title should be SVP and Regional Market President, not SVP and Regional Marketing President. The corrected release follows:

First Northwest Bancorp (NASDAQ: FNWB) (“Company”), the holding company for First Federal Savings and Loan Association of Port Angeles (“Bank” or “First Federal”), today announced that Andy Pohlman will join First Federal’s management team as Regional Market President and Senior Vice President of Investment Services, effective June 1, 2020.  Pohlman will lead the Bank’s Retail Banking Strategy in Whatcom and Kitsap Counties, as well as oversee the Investment Services function. 

“We are very excited about Andy joining our team at First Federal.  He brings a wealth of financial experience and has an outstanding reputation in our communities as a highly talented relationship banker,” said Kelly Liske, Executive Vice President and Chief Banking Officer.  “Andy’s addition to our franchise reinforces our commitment to maintaining our leadership in the communities we serve in Western Washington.”

Andy Pohlman is an accomplished leader with demonstrated proficiencies in building and managing bank-wide teams in retail banking, treasury management and wealth management.  Pohlman’s most recent position was SVP, Chief Retail Banking Officer for Peoples Bank where he spearheaded the strategic vision for deposit gathering across retail and commercial lines of business, establishing new benchmarks for deposit growth.  He also oversaw treasury, wealth management and the contact center.  Pohlman earned his Bachelor of Arts in Political Science at the University of Washington and is a graduate of the Pacific Coast of Banking School, Seattle, WA.  He holds securities licenses Series 7, 65, 63 and Washington State Life and Disability License.  As Regional Market President of First Federal’s East Region, Pohlman will report to Dawnya Scarano, SVP Director of Retail Banking and Kelly A. Liske, EVP, Chief Banking Officer.

About the Company

First Northwest Bancorp, a Washington corporation, is the bank holding company for First Federal Savings and Loan Association of Port Angeles. First Federal is a Washington state-chartered savings bank primarily serving communities in Western Washington State with thirteen banking locations - eight located within Clallam and Jefferson counties, two in Kitsap County, two in Whatcom County, and a lending center in King County.

Forward Looking Statements

Certain matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, expectations of the business environment in which we operate, projections of future performance, perceived opportunities in the market, potential future credit experience, and statements regarding our mission and vision. These forward-looking statements are based upon current management expectations and may, therefore, involve risks and uncertainties. Our actual results, performance, or achievements may differ materially from those suggested, expressed, or implied by forward-looking statements as a result of a wide variety or range of factors including, but not limited to: increased competitive pressures; changes in the interest rate environment; the credit risks of lending activities; changes in general economic conditions and conditions within the securities markets; legislative and regulatory changes; and other factors described in the Company’s latest Annual Report on Form 10-K and other filings with the Securities and Exchange Commission ("SEC")-which are available on our website at www.ourfirstfed.com and on the SEC’s website at www.sec.gov.

Any of the forward-looking statements that we make in this Press Release and in the other public statements we make may turn out to be incorrect because of the inaccurate assumptions we might make, because of the factors illustrated above or because of other factors that we cannot foresee. Because of these and other uncertainties, our actual future results may be materially different from those expressed or implied in any forward-looking statements made by or on our behalf and the Company's operating and stock price performance may be negatively affected. 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. These risks could cause our actual results for fiscal 2020 and beyond to differ materially from those expressed in any forward-looking statements by, or on behalf of, us and could negatively affect the Company’s operations and stock price performance.

Matthew P. Deines
President & CEO
(360) 457-0461

FAQ

What is the significance of Andy Pohlman's appointment at First Northwest Bancorp (FNWB)?

Andy Pohlman's appointment as SVP and Regional Market President is significant as it enhances First Northwest Bancorp's management team, aimed at improving retail banking strategy in key Washington counties.

When does Andy Pohlman start his role at First Northwest Bancorp (FNWB)?

Andy Pohlman will start his role as SVP and Regional Market President on June 1, 2020.

What areas will Andy Pohlman oversee in his new position at First Northwest Bancorp (FNWB)?

In his new position, Andy Pohlman will oversee the Retail Banking Strategy in Whatcom and Kitsap Counties and manage the Investment Services function.

How is First Northwest Bancorp (FNWB) positioning itself in the market with this appointment?

First Northwest Bancorp is positioning itself for enhanced community leadership and banking strategy reinforcement through Andy Pohlman's extensive experience in retail banking and wealth management.

What experience does Andy Pohlman bring to First Northwest Bancorp (FNWB)?

Andy Pohlman brings a wealth of financial experience, including his previous role as SVP, Chief Retail Banking Officer at Peoples Bank, where he achieved significant deposit growth.