First Financial Northwest Inc Stock Price, News & Analysis

First Financial Northwest reported a net income of $3.3 million, or $0.36 per diluted share, for Q1 2022, up from $2.7 million in Q4 2021 and $2.5 million in Q1 2021. The average cost of funds improved to 0.51%. Net loans receivable rose by $17.9 million, totaling $1.12 billion, despite $5.7 million in PPP loan repayments. Deposits fell by $17.4 million, though noninterest-bearing deposits increased by $12.8 million. The bank recorded a $500,000 recapture of loan loss provision. The regular quarterly dividend was raised to $0.12 per share from $0.11.

First Financial Northwest (NASDAQ: FFNW) announced a quarterly cash dividend of $0.12 per share, marking a $0.01 increase from the previous quarter. This dividend will be paid on March 25, 2022, to shareholders of record by March 11, 2022.

The Board also approved a repurchase plan for up to 5.0% of its outstanding stock, totaling approximately 455,000 shares. This plan will begin on or about February 18, 2022, and is expected to last until August 17, 2022.

First Financial Northwest reported net income of $2.7 million ($0.29 per diluted share) for Q4 2021, down from $3.2 million ($0.34) in Q3 2021. For the full year, net income increased to $12.2 million ($1.29 per share) from $8.6 million ($0.88) in 2020. The average cost of funds decreased to 0.55%. Total deposits rose by $15.7 million, and net loans receivable increased to $1.1 billion. The provision for loan losses was $600,000, primarily due to loan growth. The Company repurchased 392,322 shares, raising book value to $17.30. Regular dividends totaled $0.44 per share, a 10% increase year-over-year.

First Financial Northwest has declared a quarterly cash dividend of $0.11 per share on its common stock, payable on December 17, 2021, to shareholders of record as of December 3, 2021. This decision reflects the Company's ongoing commitment to returning value to its shareholders. The bank, based in Renton, Washington, operates 15 full-service banking offices throughout the Puget Sound Region, serving the local community with various banking services.

First Financial Northwest reported a net income of $3.2 million for Q3 2021, a decrease from $3.8 million in Q2 2021 but an increase from $2.1 million in Q3 2020. Net loans rose by $20 million to $1.10 billion, largely driven by a $24.4 million commercial real estate loan purchase. Total deposits increased by $7.4 million to $1.14 billion. The average cost of deposits saw a decline to 0.56%. The company also reported a cash dividend of $0.11 and no nonperforming assets at quarter end.

First Financial Northwest, Inc. (FFNW) announced the appointment of Cindy L. Runger to its Board of Directors, effective August 13, 2021. Runger brings over 18 years of experience in business development and finance, having held senior roles at major financial institutions. The Board is now composed of 38% women, reflecting the company's commitment to diversity. Runger's expertise includes corporate strategy and risk management, positioning her to provide valuable insights to the company. This move is seen as a strategic step toward enhancing governance and operational efficiency.

First Financial Northwest, Inc. (NASDAQ: FFNW) has declared a quarterly cash dividend of $0.11 per share, payable on September 17, 2021, to shareholders of record by September 3, 2021. Additionally, the Board authorized a stock buyback plan for up to 5.0% of outstanding shares, approximately 476,000 shares, starting on August 16, 2021, expiring no later than February 15, 2022. Previous buybacks included 268,286 shares at an average price of $14.97.

First Financial Northwest reported a net income of $3.8 million for Q2 2021, equating to $0.40 per diluted share, showing growth from $2.5 million in Q1 2021 and $2.1 million in Q2 2020. For the first half of 2021, net income reached $6.3 million, up from $3.8 million in the same period last year. The company noted no nonperforming loans and a reduction in the average cost of deposits to 0.68%. Additionally, the book value per share increased to $16.75. Share repurchases totaled 132,449 shares at an average price of $13.42, with a regular dividend of $0.11 per share.

First Financial Northwest has declared a quarterly cash dividend of $0.11 per share for its outstanding common stock. The dividend is scheduled for payment on June 18, 2021, to shareholders of record by June 4, 2021. As the holding company for First Financial Northwest Bank, an FDIC insured commercial bank, the company serves the Puget Sound Region through 15 branches, reinforcing its commitment to customer service and community engagement.