Sean Brennan Appointed to First Fed Board

Rhea-AI Summary

First Northwest Bancorp's subsidiary, First Fed Bank, appoints Sean Brennan, a seasoned financial industry leader, to its Board of Directors. Brennan's extensive experience in commercial banking and track record of growth are expected to enhance the board's oversight and insight. His appointment reflects First Fed's commitment to conservative financial management and community service.

PORT ANGELES, Wash., March 27, 2024 (GLOBE NEWSWIRE) -- First Fed Bank, subsidiary of First Northwest Bancorp (NASDAQ: FNWB), announced today that Sean Brennan has been appointed to the Board of Directors.

"Sean is a respected, results-oriented leader with over 35 years of financial industry experience. As a commercial banking executive, he built an impressive track record of consistent loan and deposit growth. Sean will bring valuable insight and diligent oversight to our board,” said Matt Deines, President and CEO of First Fed Bank and FNWB.

“First Fed has a strong reputation for conservative financial management and community service. As a native of Aberdeen, it is an honor to serve on the board of the only public company headquartered on the Olympic Peninsula. I’m looking forward to contributing to First Fed’s legacy and growth throughout the Northwest,” said Brennan.

Previously Brennan was President and Chief Lending Officer of Puget Sound Bank, a financial institution he cofounded in 2005 and led through an acquisition by Heritage Bank NW in 2018. After the merger, he served as Senior Vice President, Regional Commercial Banking Director and then Corporate Banking Development Consultant for Heritage Bank NW. Prior to cofounding Puget Sound Bank, Brennan held leadership roles at Washington Trust Bank and US Bancorp.

Currently Brennan serves on the boards of Plymouth Housing, one of the largest providers of permanent support housing in Seattle, and of Uwajimaya, a family-owned supermarket chain headquartered in the Seattle Chinatown-International District. His past board membership includes Aboda, Downtown Emergency Service Center, and St. Joseph School Endowment. Additionally, Brennan served on advisory boards for Seattle University.

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 Best Workplace and top Corporate Philanthropist in 2023. 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/ddfcb6d2-0851-45af-a625-11595478f724

FAQ

Who has been appointed to the Board of Directors of First Fed Bank?

Sean Brennan has been appointed to the Board of Directors of First Fed Bank.

What is Sean Brennan's background in the financial industry?

Sean Brennan has over 35 years of financial industry experience, with a focus on commercial banking and a track record of consistent loan and deposit growth.

What is First Fed Bank's reputation in terms of financial management and community service?

First Fed Bank has a strong reputation for conservative financial management and community service.

Where is First Fed Bank headquartered?

First Fed Bank is headquartered on the Olympic Peninsula.

What are some of Sean Brennan's past leadership roles?

Sean Brennan has held leadership roles at Puget Sound Bank, Heritage Bank NW, Washington Trust Bank, and US Bancorp.