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.
First Financial Northwest, Inc. (FFNW) generated a series of significant corporate developments that are reflected in its news history. The Company served as the holding company for First Financial Northwest Bank, an FDIC‑insured Washington State‑chartered commercial bank headquartered in Renton, Washington and serving the Puget Sound Region through 15 full‑service banking offices. News coverage traces the Company’s transition from an operating bank holding company to a dissolving entity following the sale of its banking business.
Key news items include announcements of quarterly and annual financial results, where the Company reported net income or net loss, trends in net loans receivable, deposit composition, Federal Home Loan Bank advances, credit quality metrics such as nonaccrual loans and allowance for credit losses, and net interest margin. These releases provide detailed insight into the Bank’s loan portfolio, deposit base, and funding structure over time.
Another major category of FFNW news relates to its strategic transaction with Global Federal Credit Union. Press releases document regulatory approvals from the Washington State Department of Financial Institutions, the Federal Deposit Insurance Corporation and the National Credit Union Administration for Global to acquire substantially all of the assets and assume substantially all of the liabilities of First Financial Northwest Bank. Additional news items report shareholder approval of the asset sale and the Company’s Plan of Dissolution, the closing of the asset sale, and the subsequent steps toward delisting and liquidation.
Later news focuses on the declaration of an initial liquidating distribution and a final cash liquidation distribution under the Plan of Dissolution, as well as the closing of the Company’s stock transfer books and the filing of a Form 25 to delist its common stock from Nasdaq. Together, these articles form a historical record of FFNW’s financial performance, regulatory milestones, asset sale to Global Federal Credit Union, and the winding up of the Company.
Investors, researchers and former shareholders can use this news feed as an archive of FFNW’s transition from an active bank holding company to a dissolving entity and to understand how its banking operations were transferred to Global Federal Credit Union.
First Financial Northwest, the holding company for First Financial Northwest Bank, has declared a quarterly cash dividend of $0.13 per share on its outstanding common stock.
The dividend will be payable on June 21, 2024, to shareholders recorded by June 7, 2024.
First Financial Northwest Bank operates 15 full-service offices in the Puget Sound Region and is headquartered in Renton, Washington.
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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