First Northwest Stock Price, News & Analysis

First Fed Bank (NASDAQ:FNWB), a Washington-based institution with $2 billion in assets, has implemented Apiture's Digital Banking Platform to enhance its business banking services. The upgraded platform introduces advanced features including cash flow forecasting tools, unified account views, enhanced security measures, and improved administrative controls.

The bank has also integrated Apiture Data Intelligence solution to gain deeper insights into customer banking behaviors while maintaining data privacy. This implementation aims to deliver more personalized financial solutions and strengthen customer engagement across both desktop and mobile platforms.

First Northwest Bancorp (Nasdaq: FNWB) has appointed Curt Queyrouze as its new Chief Executive Officer and President, effective September 17, 2025. Queyrouze brings over 40 years of financial services experience, specializing in credit, risk management, and financial technology.

Queyrouze joins from Coastal Financial Corporation, where he served as President of Community Bank and Corporate Credit. He previously held the position of President and CEO at TAB Bank and has experience ranging from community banks to fintech companies. He will also join the Board of Directors of both First Northwest and First Fed Bank.

He succeeds Matthew P. Deines, who left in July 2025, with COO Geraldine Bullard serving as Interim CEO during the transition period.

First Fed Foundation (NASDAQ:FNWB) has announced the final call for its Fall 2025 grant applications. The foundation is accepting applications from nonprofit organizations, tribal entities, government bodies, and school districts serving Clallam, Jefferson, Kitsap, Whatcom Counties, and Bellevue. Interested organizations must submit their applications by 11:59 PM on September 1, 2025.

First Northwest Bancorp (Nasdaq: FNWB) reported significant improvement in Q2 2025 with net income of $3.7 million, compared to net losses in both Q1 2025 ($9.0 million) and Q2 2024 ($2.2 million). The company achieved earnings per share of $0.42 and recorded Adjusted Pre-Tax, Pre-Provision Net Revenue of $2.1 million.

Key improvements include net interest margin expansion to 2.83%, a return on average assets of 0.68%, and an improved efficiency ratio of 78.0%. The bank recorded a $296,000 recapture of provision for credit losses and received a $2.6 million employee retention credit. However, the Board elected not to declare a dividend this quarter as part of prudent capital management.

The company is currently conducting a CEO search and facing legal proceedings, while maintaining focus on strategic objectives and core business growth.

First Northwest Bancorp (NASDAQ: FNWB), the holding company for First Fed Bank, has appointed Diane C. Davis to the Boards of Directors of both First Fed Bank and First Northwest Bancorp. Davis brings over 25 years of leadership experience in the insurance industry, with expertise in executive management, strategy, risk management, and corporate governance.

Davis previously served as President of Farmers New World Life Insurance Company from 2016 to 2019 and held the position of Regional Chief Risk Officer at Zurich Insurance Company Ltd. She currently serves as co-chair of 5050 Women on Boards of Greater Seattle and previously served on the board of First Financial Northwest Bancorp.

Meriwether Group Capital's Hero Fund has secured a significant investment from the State of Oregon following a thorough due diligence review by Meketa Investment Group. The state has committed an initial $3 million investment, with potential to increase to $5 million within 12 months.

The Hero Fund, launched in April 2022, has consistently outperformed its 10% target, delivering an average net annualized return of 11% since inception. Currently managing 18 loans to founder-led businesses, the fund aims to expand its assets under management from $22 million to $50 million. The fund benefits from strategic partnerships with Meriwether Group and First Fed (NASDAQ: FNWB), serving underserved small and emerging business owners in the Pacific Northwest.

First Northwest Bancorp (Nasdaq: FNWB) announced that Matthew P. Deines will resign as President and CEO effective July 12, 2025. The company has appointed Geraldine L. Bullard, current Chief Operating Officer, as Interim CEO effective July 13, 2025.

Bullard will maintain her COO role while serving as Interim CEO. The boards of directors have engaged a leading executive search firm to identify a permanent CEO replacement. Deines served as CEO for six years, and the transition represents a mutual agreement between him and the company's boards of directors.

First Northwest Bancorp (FNWB) reported improved financial results for Q1 2025, with net income of $1.5 million, compared to a net loss of $2.8 million in Q4 2024 and net income of $396,000 in Q1 2024. The company's earnings per share reached $0.17, up from -$0.32 in Q4 2024.

Key highlights include a $45.0 million decrease in brokered deposits while core customer deposits grew by $23.0 million. The company maintained a loan-to-deposit ratio of 99.9% and reduced borrowings by $28.9 million. Total cost of funds decreased to 2.67% from 2.80% in Q4 2024.

The company recorded a $1.6 million provision for credit losses due to $1.4 million in charge-offs. Notable gains included a $1.1 million BOLI death benefit, $846,000 from debt extinguishment, and $315,000 from loan conversion to equity investment. The Board declared a quarterly cash dividend of $0.07 per share, payable May 23, 2025.

First Northwest Bancorp (NASDAQ: FNWB) has announced the promotion of Phyllis Nomura to Executive Vice President and Chief Financial Officer of First Fed Bank and First Northwest. Nomura, who joined as Senior Director of Accounting in November 2024, brings over 30 years of experience in accounting, finance, and audit.

Prior to joining First Fed, Nomura served as CFO at various organizations including YWCA Seattle King Snohomish and Kosmos Management. She holds a BBA from Grand Valley State University and is a licensed CPA.

As part of the management succession plan, Geri Bullard will continue as Chief Operating Officer, focusing on enhancing profitability, efficiency, and back-office operations. Bullard's previous work with balance sheet restructuring has positioned the company to return to profitability in 2025 and beyond.