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First Financial Northwest, Inc - $FFNW STOCK NEWS

Welcome to our dedicated page for First Financial Northwest news (Ticker: $FFNW), a resource for investors and traders seeking the latest updates and insights on First Financial Northwest stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect First Financial Northwest's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

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News
First Financial Northwest, Inc. Announces First Quarter 2024 Results; Reports Withdrawal from Legacy Defined Benefit Plan and Purchase of Single Premium Group Annuity
Rhea-AI Summary

First Financial Northwest, Inc. reported a net loss of $1.1 million for the first quarter of 2024 due to a strategic move to extinguish a legacy defined benefit plan at a cost of $1.2 million. The company also recognized pretax expenses related to a sale to Global Federal Credit Union. Credit quality remained strong, with nonaccrual loans low at $201,000. Despite pressures on deposit rates, net interest margin saw a slight increase. Total deposits decreased due to a managed reduction in higher cost deposits.

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First Financial Northwest, Inc. Declares Quarterly Cash Dividend of $0.13 per Share
Rhea-AI Summary
First Financial Northwest, Inc. (NASDAQ: FFNW) declares a quarterly cash dividend of $0.13 per share on its common stock, payable on March 28, 2024. The company operates First Financial Northwest Bank, a Washington State-chartered commercial bank with 15 full-service banking offices in the Puget Sound Region.
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-0.24%
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CORRECTING and REPLACING - First Financial Northwest, Inc. Reports Net Income of $1.2 Million or $0.13 per Diluted Share for the Fourth Quarter and $6.3 Million or $0.69 per Diluted Share for the Year Ended December 31, 2023
Rhea-AI Summary
First Financial Northwest, Inc. reported net income of $1.2 million for the quarter ended December 31, 2023. Year-end net income was $6.3 million, compared to $13.2 million in 2022. Credit quality remained strong with nonperforming assets of $220,000 on a $1.2 billion total loan portfolio. The Bank’s Tier 1 leverage and total capital ratios were 10.2% and 16.2% at December 31, 2023.
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News
First Financial Northwest, Inc. Reports Net Income of $1.2 Million or $0.13 per Diluted Share for the Fourth Quarter and $6.3 Million or $0.69 per Diluted Share for the Year Ended December 31, 2023
Rhea-AI Summary
First Financial Northwest, Inc. reported net income of $1.2 million for Q4 2023, down from $3.2 million in Q4 2022. The company did not record a provision for credit losses during the quarter, resulting in a net recapture of provision for credit losses of $208,000 for the year. Net loans receivable increased to $1.18 billion, and the bank's Tier 1 leverage and total capital ratios were 10.2% and 16.2% at December 31, 2023. Credit quality remained strong with nonperforming assets totaling $220,000, or 0.01% of total assets. The bank has entered into a Purchase and Assumption Agreement with Global Federal Credit Union.
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KBRA Comments on Global Credit Union's Announced Agreement to Acquire First Financial Northwest Bank
Rhea-AI Summary
Global Credit Union has announced the acquisition of First Financial Northwest Bank for $231.2 million, expected to close in 4Q24 pending regulatory approval. The acquisition is seen as strategically favorable, potentially adding $20-30 million to Global's net income annually. The combined institution is expected to have $13 billion in total assets at close, with minimal integration risks for this in-market deal.
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-0.19%
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Global Credit Union and First Financial Northwest, Inc. Announce Agreement for Global Credit Union to Acquire First Financial Northwest Bank
Rhea-AI Summary
Global Federal Credit Union (Global) and First Financial Northwest, Inc. (NASDAQ GS: FFNW) have entered into a definitive agreement for Global to acquire Renton, Washington-based First Financial Northwest Bank for $231.2 million in an all-cash transaction. First Financial Northwest shareholders are expected to receive approximately $23.18 to $23.75 per share upon liquidation, subject to certain adjustments. The acquisition will expand Global's business and commercial services and enhance its branch presence in Western Washington, where it first began operations 40 years ago.
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48.03%
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News
First Financial Northwest Bank Promotes Dalen D. Harrison to Executive Vice President
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First Financial Northwest, Inc. (NASDAQ GS: FFNW) announced the promotion of Dalen D. Harrison to Executive Vice President and Chief Banking Officer of First Financial Northwest Bank. Ms. Harrison has been instrumental in the bank's success, leading deposit and loan production teams, expanding the customer base, and pursuing fintech partnerships. She played a key role in the bank's geographic expansion, transforming it from a single-branch savings bank to a full-fledged commercial community bank with 15 offices in the Puget Sound Region. Joseph W. Kiley III, President, and CEO, praised her significant contributions to the bank's growth and innovation.
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First Financial Northwest, Inc. Declares Quarterly Cash Dividend of $0.13 per Share
Rhea-AI Summary
First Financial Northwest, Inc. (FFNW) announces a quarterly cash dividend of $0.13 per share on its outstanding common stock. The dividend will be payable on December 22, 2023, to shareholders of record on December 8, 2023. FFNW is the parent company of First Financial Northwest Bank, an FDIC insured Washington State-chartered commercial bank serving the Puget Sound Region through 15 full-service banking offices.
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1.56%
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First Financial Northwest, Inc. Reports Net Income of $1.5 Million or $0.16 per Diluted Share for the Third Quarter Ended September 30, 2023  
Rhea-AI Summary
First Financial Northwest, Inc. reports Q3 2023 net income of $1.5 million, impacted by reduced loan demand and higher cost of funds. Credit quality remains strong. Company reduces staffing by 6% to save $215,000 per quarter. Initiates search for senior C&I lending credit officer.
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4.06%
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First Financial Northwest, Inc. Declares Quarterly Cash Dividend of $0.13 per Share; Announces Adoption of New Stock Repurchase Plan
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First Financial Northwest, Inc. (FFNW) Announces Quarterly Dividend and Stock Repurchase Plan
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1.33%
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Stock FFNW logo
First Financial Northwest, Inc

Nasdaq:FFNW

FFNW Rankings

#3844 Ranked by Market Cap
#3604 Ranked by Stock Gains
#1228 Ranked by Dividends

FFNW Stock Data

186.33M
6.10M
24.36%
40.88%
0.87%
Savings Institutions
Finance and Insurance
Link
United States of America
RENTON

About FFNW

first financial northwest bank; not just a name. it is about delivering personalized service and unique solutions. for over 90 years, we have built our reputation as a provider of financial solutions, a concierge of professional connections, and a partner in community service. relationships – we are friendly, professional and responsive. we truly care about each customer and are dedicated to providing personalized service. knowledgeable – we are experienced, and current in our knowledge, which supports our ability to offer unique solutions for our customer’s financial needs. efficient – we know that banking isn’t the most important part of a person’s life, so we serve our customers in the most productive way possible. we focus on our customers and are accountable for our actions. innovative – taking the time to listen to your needs along with using the most progressive technology, we save you time, money and stress. intuitive to our customers’ needs, we will create unique and distincti