Welcome to our dedicated page for First Northwest news (Ticker: FNWB), a resource for investors and traders seeking the latest updates and insights on First Northwest stock.
First Northwest Bancorp (FNWB) delivers community-focused banking services through First Fed Bank subsidiary, serving individuals and businesses across Washington's Pacific Northwest region. This news hub provides investors and stakeholders with verified updates about financial performance, strategic developments, and operational milestones.
Access timely information about earnings announcements, leadership changes, and regulatory filings alongside analysis of market trends affecting regional banking. Our curated collection features press releases about residential/commercial lending initiatives, deposit product innovations, and community partnership programs that demonstrate FNWB's local economic impact.
Key updates include quarterly financial disclosures, balance sheet optimization strategies, and risk management practices developed through decades of community banking experience. Track the company's progress in merging traditional financial services with modern digital solutions while maintaining its commitment to personalized customer relationships.
Bookmark this page for ongoing access to FNWB's latest developments, including merger/acquisition activity, dividend declarations, and executive commentary on navigating evolving rate environments. Check regularly for objective reporting about this regional financial institution's role in supporting Pacific Northwest communities.
First Northwest Bancorp (FNWB) reported a net income of $3.5 million for Q1 2023, down from $6.1 million in the previous quarter but up from $2.8 million year-over-year. Basic and diluted earnings per share are $0.39, down from $0.66 Q4 2022. Deposits grew by $30 million year-to-date, bringing total deposits to $1.59 billion. The company declared a $0.07 quarterly cash dividend, payable on May 26, 2023. Operating revenue for Q1 was $18.6 million, a decrease from $22.3 million Q4 2022. The net interest margin fell to 3.46% from 3.96% in Q4 2022, primarily due to increased funding costs. Noninterest income decreased 30.7% quarter-over-quarter. The provision for credit losses reflected positive trends due to a reduction in unfunded commitments.
First Northwest Bancorp (Nasdaq: FNWB) reported a net income of $6.1 million and diluted earnings per share of $0.66 for Q4 2022, reflecting an increase from $4.3 million and $0.47 in Q4 2021. Year-to-date loan growth stood at 13.1%, with a net interest margin of 3.96%. Total revenue was $22.3 million, an increase of 8.6% year-over-year. The Board declared a quarterly cash dividend of $0.07 per share, payable on February 24, 2023. Despite a decrease in total assets by 2.4% to $2.04 billion, the Bank remains focused on strategic growth through technology investments and partnerships.
First Northwest Bancorp (NASDAQ: FNWB) has appointed Lynn Terwoerds to its Board of Directors at First Fed Bank, effective January 25, 2023. With over 24 years of expertise in cybersecurity for major corporations like Microsoft and Oracle, Terwoerds aims to enhance the bank's strategic initiatives. The leadership believes her extensive background in technology and security will bolster the bank's commitment to customer service and partnership with fintech companies. First Fed Bank continues to focus on delivering comprehensive financial products and sustainable earnings while investing in fintech innovation.
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