Welcome to our dedicated page for First Northwest news (Ticker: FNWB), a resource for investors and traders seeking the latest updates and insights on First Northwest stock.
First Northwest Bancorp (FNWB) delivers community-focused banking services through First Fed Bank subsidiary, serving individuals and businesses across Washington's Pacific Northwest region. This news hub provides investors and stakeholders with verified updates about financial performance, strategic developments, and operational milestones.
Access timely information about earnings announcements, leadership changes, and regulatory filings alongside analysis of market trends affecting regional banking. Our curated collection features press releases about residential/commercial lending initiatives, deposit product innovations, and community partnership programs that demonstrate FNWB's local economic impact.
Key updates include quarterly financial disclosures, balance sheet optimization strategies, and risk management practices developed through decades of community banking experience. Track the company's progress in merging traditional financial services with modern digital solutions while maintaining its commitment to personalized customer relationships.
Bookmark this page for ongoing access to FNWB's latest developments, including merger/acquisition activity, dividend declarations, and executive commentary on navigating evolving rate environments. Check regularly for objective reporting about this regional financial institution's role in supporting Pacific Northwest communities.
First Northwest Bancorp (FNWB) reported a net income of $3.5 million for Q1 2023, down from $6.1 million in the previous quarter but up from $2.8 million year-over-year. Basic and diluted earnings per share are $0.39, down from $0.66 Q4 2022. Deposits grew by $30 million year-to-date, bringing total deposits to $1.59 billion. The company declared a $0.07 quarterly cash dividend, payable on May 26, 2023. Operating revenue for Q1 was $18.6 million, a decrease from $22.3 million Q4 2022. The net interest margin fell to 3.46% from 3.96% in Q4 2022, primarily due to increased funding costs. Noninterest income decreased 30.7% quarter-over-quarter. The provision for credit losses reflected positive trends due to a reduction in unfunded commitments.
