PSBJ Recognizes First Fed for Workplace Culture and Growth

PORT ANGELES, Wash., June 07, 2022 (GLOBE NEWSWIRE) -- First Fed Bank, subsidiary of First Northwest Bancorp (FNWB), has been recognized as a Top 100 Best Workplace in Washington by Puget Sound Business Journal (PSBJ). Additionally, First Fed's growth was acknowledged on PSBJ lists for Middle Market Fast 50, Top Construction Lenders, and Top SBA Lenders by 7(a) Loan Value.

“First Fed is dedicated to creating well-being and prosperity for our employees, customers and communities. We are invested in building an engaging and inclusive culture to support that mission,” shared Matt Deines, CEO of First Fed and FNWB. “People are at the heart of what we do, both in our community and on our team.”

First Fed and its Foundation has received the PSBJ Corporate Citizenship Award for five years, most recently ranking third for cash giving in the middle-sized company category. First Fed matches employee donations up to $4,500 or 3% of their salary.

Volunteering is another part of First Fed's community focus. Each team member receives three paid days of volunteering each year. Collectively First Fed team members gave back 4,457 hours to non-profits and their local community in 2021.

“PSBJ Best Workplaces list inclusion is fantastic recognition for our First Fed team. The people who make a difference at our bank every day are really incredible. We work very hard to recognize, support, and reward them.” said Derek Brown, Chief HR and Marketing Officer at First Fed.

In 2021, First Fed received the Best-in-State Bank award from Forbes. The award was based on customer feedback about their banking relationships, with only 2.7 percent of the nation’s 5,000 banks making the list. First Fed will be celebrating its 100^th anniversary in 2023.

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/847b08de-10c9-42a9-9328-de734a8c619e