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. news centers on its Plan of Dissolution, liquidating distributions to shareholders, closure of stock transfer books, and delisting-related corporate actions. The company had operated as the holding company for First Financial Northwest Bank, and earlier updates covered operating results, credit-loss provisions, material agreements, shareholder voting matters, governance actions, and capital-structure disclosures tied to its public-company status.
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.
First Financial Northwest reported a net income of $2.5 million, or $0.26 per diluted share, for Q1 2021, a decrease from $2.6 million in Q4 2020 but an improvement from $1.7 million in Q1 2020. Total deposits increased by $40 million to $1.13 billion, driven by a rise in noninterest-bearing demand deposits. The average cost of deposits fell to 0.85%. The company downgraded $10.5 million in loans to special mention status, leading to a provision for loan losses of $300,000. The quarterly cash dividend was raised to $0.11 per share from $0.10. The tier 1 capital ratio was maintained at 10.2%.
First Financial Northwest, Inc. (NASDAQ: FFNW) has declared a quarterly cash dividend of $0.11 per share, marking a $0.01 increase from the previous quarter. The dividend will be payable on March 26, 2021, to shareholders of record on March 12, 2021. This decision reflects the company’s commitment to returning value to its shareholders amid ongoing economic uncertainties.
First Financial Northwest reported a net income of $2.6 million for Q4 2020, an increase from $2.1 million in Q3 2020 and steady compared to Q4 2019. For the full year, net income was $8.6 million, down from $10.4 million in 2019. The bank's checking account balances rose by $80.7 million, boosting total deposits to $1.09 billion. The cost of funds decreased to 1.07%. However, 16 loans totaling $34.2 million were downgraded due to COVID-19 impacts, resulting in a $600,000 loan loss provision. Book value per share grew to $16.05 from $15.62.
First Financial Northwest, Inc. (FFNW) announced a new stock repurchase plan, allowing the purchase of up to 5.0% of its outstanding common stock, approximately 486,000 shares. This plan will start on February 1, 2021, and conclude by August 13, 2021. The previous plan resulted in the repurchase of 329,781 shares at an average price of $9.98 each. Share repurchases aim to enhance shareholder value by reducing outstanding shares, although the actual number of shares repurchased will depend on market conditions.
First Financial Northwest, Inc. (NASDAQ: FFNW) announced a quarterly cash dividend of $0.10 per share, payable on December 18, 2020, to shareholders on record as of December 4, 2020. Headquartered in Renton, Washington, FFNW operates 14 banking offices in the Puget Sound region. This dividend reflects the company's commitment to returning value to its shareholders amid ongoing economic challenges.
First Financial Northwest reported Q3 2020 net income of $2.1 million, down from $2.5 million a year prior. For the first nine months, net income was $5.9 million, compared to $7.8 million in 2019. The company expanded its deposit base, lowering the cost of funds to 1.19%. Total loans under payment deferral decreased to $65.5 million, while the provision for loan losses rose to $700,000 due to downgrades in commercial real estate loans. The bank opened a new office in Gig Harbor and plans another in Issaquah.
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First Financial Northwest, Inc. (NASDAQ: FFNW) has declared a quarterly cash dividend of $0.10 per share on its outstanding common stock. This dividend will be paid on September 18, 2020, to shareholders of record as of September 4, 2020. The company, which operates First Financial Northwest Bank in Washington, emphasizes its commitment to returning value to shareholders while navigating the challenges posed by the COVID-19 pandemic.
First Financial Northwest reported a net income of $2.1 million for Q2 2020, a rise from $1.7 million in Q1 2020 but down from $3.3 million in Q2 2019. Total deposits grew 12.6% to $1.13 billion, driven by demand deposits, while net loans receivable rose to $1.14 billion. The company facilitated $51.7 million in PPP loans, potentially supporting 5,000 jobs. However, a $300,000 provision for loan losses was recorded due to COVID-19 concerns. The book value per share increased to $15.32 as of June 30, 2020.