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) announced a $2 million pledge to support the Field Arts & Events Hall in Port Angeles, aimed at bolstering local economic development. This contribution marks the largest corporate commitment to the project, contributing to a total funding of $46 million. The venue will feature a 500-seat auditorium and a 300-seat conference facility, set to enhance community engagement. Development had paused during the pandemic but will resume with this new funding, with a community event scheduled for June 2, 2022, to outline the project's timeline.
First Northwest Bancorp (FNWB) reported Q1 2022 net income of $2.8 million and diluted earnings per share (EPS) of $0.30, down from $5.1 million and $0.55 a year prior. Total revenue decreased by 13.1% to $17.9 million, while non-interest expenses rose by 22.6%. Total assets increased to $1.94 billion, with total deposits declining by 2.0% to $1.55 billion.
A quarterly cash dividend of $0.07 per common share was declared, payable on May 27, 2022.
First Northwest Bancorp (NASDAQ: FNWB) announced the appointment of Christopher "Chris" Neros as Executive Vice President and Chief Lending Officer of First Fed Bank. With over 15 years in lending and leadership roles at Peoples Bank, Neros aims to enhance lending initiatives and strengthen business relationships. His background includes extensive experience at First National Bank Alaska and community involvement in economic development. First Fed Bank, a community-oriented institution since 1923, continues to focus on sustainable earnings through a robust array of financial services and fintech partnerships.
Meriwether Group Capital has launched the Hero Fund to provide commercial loans for small to mid-sized companies that do not meet traditional lending criteria. The fund aims to fill the financing gap for businesses with revenues between
First Northwest Bancorp (FNWB) announced a $1 million pledge to the Northwest Maritime Center (NWMC) aimed at expanding maritime education over a 10-year period. This investment aligns with NWMC's goal to double program participation from 2,950 in 2019 to 6,000 by 2025. The maritime industry, a key economic driver in Washington, faces a projected workforce shortage of 150,000 mariners by 2025. First Fed's CEO emphasized the importance of this initiative for local community development.
First Northwest Bancorp (FNWB) reported a Q4 2021 net income of $5.1 million, with diluted earnings per share (EPS) of $0.56, marking a significant increase from $4.2 million and $0.45 in Q4 2020. Total revenue rose by 18.9% to $20.6 million, while non-interest expenses increased by 25.2%. The company declared a quarterly cash dividend of $0.07 per share, payable on February 25, 2022. Assets grew to $1.92 billion, with total loans increasing 0.3% to $1.36 billion, and total deposits up 3.8% to $1.58 billion.
First Northwest Bancorp (FNWB) has partnered with Splash Financial, a leading digital lending platform, to enhance consumer loan offerings through its subsidiary, First Fed Bank. This collaboration aims to leverage fintech solutions to meet diverse customer needs across the U.S. Notable mentions include Splash's significant funding achievement of $44M in Series B and First Fed's accolades, including a Forbes best-in-state bank award in 2021. This strategic partnership aligns with FNWB's focus on sustainable earnings and innovative financial solutions.
First Northwest Bancorp (NASDAQ: FNWB) has released its initial report based on the Sustainable Accounting Standards Board (SASB) framework, detailing its environmental, social, and governance (ESG) initiatives. President and CEO Matt Deines emphasized the bank's commitment to sustainability and community. Key achievements include the adoption of e-records and e-signature technologies for waste reduction, the launch of a Diversity, Equity, and Inclusion program, and the establishment of a leadership team with 50% female representation. Additional ESG-related data is available in the SASB Fact Sheet.
