Kyle Henderson Promoted to Chief Credit Officer of First Fed Bank

Rhea-AI Summary

First Fed Bank, a subsidiary of First Northwest Bancorp (NASDAQ: FNWB), announced the promotion of Kyle Henderson to Chief Credit Officer, effective July 1, 2024. Henderson, who joined First Fed as Deputy Chief Credit Officer in 2023, brings 16 years of experience in credit administration and financial services, including his previous role as EVP of Credit for FirstBank in Denver, Colorado. He succeeds Terry Anderson, who retired after six years in the role. First Northwest Bancorp focuses on sustainable earnings through a mix of traditional banking and strategic partnerships with fintech companies.

Positive

• Kyle Henderson's promotion to Chief Credit Officer brings 16 years of experience in credit administration.
• Smooth transition expected with Henderson's familiarity with the market and customer trust.
• First Northwest Bancorp leverages strategic partnerships with fintech companies for sustainable growth.

Negative

• Terry Anderson, the experienced previous Chief Credit Officer, has retired.

PORT ANGELES, Wash., July 01, 2024 (GLOBE NEWSWIRE) -- First Fed Bank, subsidiary of First Northwest Bancorp (NASDAQ: FNWB) (“Company”), today announced that Kyle Henderson has been promoted to Chief Credit Officer. Henderson joined First Fed as Deputy Chief Credit Officer in 2023.

"Kyle Henderson is a respected banking leader with an outstanding track record in credit administration. Over the past year, Kyle has ramped up on our market and gained the trust of our customers and team. We expect a smooth transition as he takes the helm of credit administration leadership with related financial and managerial responsibilities,” said Matt Deines, President and CEO of First Fed Bank and FNWB.

“As a community bank, First Fed is an essential partner for many local businesses, families, and individuals. I’m honored to continue supporting our customers while balancing risk to ensure our bank’s long-term stability and sustainable growth,” said Henderson.

Henderson brings 16 years of experience in credit administration and financial services. Prior to First Fed, he served as EVP of Credit for FirstBank in Denver, Colorado.

Prior to moving the Olympic Peninsula, Henderson was on the Board of the Mile High Youth Corps and The YESS Institute in Denver. Additionally, he has volunteered with the Denver Rotary Club, Denver Hispanic Chamber, Jefferson County and Adams County economic development associations, and Junior Achievement.

Henderson is a graduate of the University of Oregon and the ABA Stonier Graduate School of Banking.

Terry Anderson, the previous Chief Credit Officer, has retired from financial services. Anderson held the executive role since joining First Fed in 2018.

“Terry has been a steadfast leader over the past six years. He will always be part of the First Fed family. We wish Terry well in his next chapter of life,” said Deines.

About FNWB

First Northwest Bancorp (Nasdaq: FNWB) is a financial holding company engaged in investment activities including the business activity of its subsidiary, First Fed Bank, along with other fintech partnerships. First Fed is a small business-focused financial institution which has served its customers and communities since 1923. Currently First Fed has 18 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. FNWB also invests in fintech companies directly as well as through select venture capital partners. In 2022, the company made a minority investment in Meriwether Group, a boutique investment banking and accelerator firm. First Northwest Bancorp was incorporated in 2012. The company completed its initial public offering in 2015 under the ticker symbol FNWB and is headquartered in Port Angeles, Washington.

First Fed Bank was recognized by Puget Sound Business Journal as a top Corporate Philanthropist in 2024. By popular vote, First Fed received 2023 awards for Best Bank in the Best of the Northwest, Best Bank in Readers’ Choice by Cascadia Daily News, Best Bank and Best Financial Advisor in Best of the Peninsula for Clallam County. Also, the community bank received a Best-in-State bank award from Forbes in 2021. First Fed is a Member FDIC and equal housing lender.

Contact:
Matthew P. Deines
President & CEO
360-457-0461

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0785b0b5-e68b-4bf4-b7b3-c5ce54c00f05

FAQ

Who was promoted to Chief Credit Officer at First Fed Bank?

Kyle Henderson was promoted to Chief Credit Officer at First Fed Bank.

What is the ticker symbol for First Northwest Bancorp?

The ticker symbol for First Northwest Bancorp is FNWB.

When did Kyle Henderson join First Fed Bank?

Kyle Henderson joined First Fed Bank in 2023 as Deputy Chief Credit Officer.

Who did Kyle Henderson replace as Chief Credit Officer?

Kyle Henderson replaced Terry Anderson as Chief Credit Officer.

What is the focus of First Northwest Bancorp's business strategy?

First Northwest Bancorp focuses on building sustainable earnings through traditional banking and strategic partnerships with fintech companies.