First Northwest Bancorp posts $743K Q3 2026 loss

Q: What were FNWB’s third-quarter 2026 earnings?

First Northwest reported a $743,000 net loss and a $0.08 loss per share for the third quarter of 2026. In the third quarter of 2025, it reported net income of $802,000 and earnings per share of $0.09.

Q: How did FNWB’s loan quality change in Q3 2026?

Nonperforming loans decreased to $19.9 million at September 30, 2026, from $20.7 million at June 30. Classified loans increased to $26.1 million, including $2.5 million of new downgrades; four collateral-dependent loans totaling $17.4 million accounted for 67% of classified loans.

Q: Why did FNWB’s noninterest expense increase in Q3 2026?

Noninterest expense was $17.315 million, compared with $16.393 million in the preceding quarter. The company attributed the increase primarily to a nonrecurring $1.3 million legal-settlement expense, partly offset by lower consulting fees recorded in professional fees.

Customer deposits rose $27.0 million during the quarter, and nonperforming loans declined to $19.9 million.

Filing Impact

(High)

Filing Sentiment

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Form Type

8-K

Rhea-AI Filing Summary

First Northwest Bancorp (FNWB) reported a $743,000 third-quarter 2026 net loss, compared with net income of $802,000 in the third quarter of 2025; basic and diluted loss per share was $0.08, versus earnings per share of $0.09. For the nine months ended September 30, 2026, the company reported a $429,000 net loss, compared with a $4.573 million net loss a year earlier.

Third-quarter net interest income was $14.3 million, compared with $14.6 million a year earlier, while the provision for credit losses was $739,000 versus a $673,000 recapture. Results were affected by the higher provision and a nonrecurring $1.3 million expense for a previously disclosed legal settlement. Net interest margin was 2.96%, compared with 2.91% a year earlier.

Total deposits were $1.634 billion as of September 30, 2026, after increasing $27.0 million from June 30; nonperforming loans fell $842,000 to $19.9 million, while classified loans rose $593,000 to $26.1 million. Shareholders’ equity was $148.8 million, down from $158.3 million as of June 30, reflecting $9.3 million in after-tax declines in available-for-sale securities fair values and the quarterly loss, partly offset by a $332,000 after-tax fair value of the investment portfolio hedge.

1 point · 0 major

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It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

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0 major · 1 point

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Positive

Moderate pointNine-month net loss narrowed to $429,000 from $4.573 million a year earlier.

Negative

Moderate pointThird-quarter earnings shifted to a $743,000 net loss from $802,000 net income year over year.

Filing Explained

The release reports no common shares repurchased during the third quarter, while 846,123 shares remained available under the April 2024 Stock Repurchase Plan; the disclosed state is remaining plan capacity, not a completed buyback.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Third-quarter net loss: $743,000 Loss per share: $0.08 Nine-month net loss: $429,000 +5 more

8 metrics

Third-quarter net loss $743,000 Quarter ended September 30, 2026; compared with $802,000 net income in the third quarter of 2025

Loss per share $0.08 Basic and diluted, third quarter of 2026; compared with $0.09 earnings per share in the third quarter of 2025

Nine-month net loss $429,000 Nine months ended September 30, 2026; compared with $4.573 million net loss in 2025

Net interest income $14.3 million Third quarter of 2026; compared with $14.6 million in the third quarter of 2025

Provision for credit losses $739,000 Third quarter of 2026; compared with a $673,000 recapture in the third quarter of 2025

Total deposits $1.634 billion As of September 30, 2026; increased $27.0 million during the quarter

Nonperforming loans $19.9 million As of September 30, 2026; down $842,000 from June 30, 2026

First Fed total risk-based capital ratio 13.3% Third quarter of 2026; preliminary and subject to finalization of the FDIC Call Report

Key Terms

net interest margin, provision for credit losses, nonaccrual loans, brokered deposits, +1 more

5 terms

net interest margin financial

"Net interest margin increased to 2.96%"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

provision for credit losses financial

"Provision for credit losses was $739,000"

Provision for credit losses is an amount set aside by a financial institution to cover potential future losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution manage risks and stay financially healthy. For investors, it signals how cautious a lender is about potential loan defaults and can impact the company's profitability and financial stability.

nonaccrual loans financial

"Total nonaccrual loans"

Nonaccrual loans are loans a lender has stopped counting toward interest income because the borrower is overdue or unlikely to pay; the lender only records cash payments received and may set aside extra funds to cover potential losses. For investors, a rising number or amount of nonaccrual loans signals weaker credit quality, lower future interest revenue and larger potential write-downs — similar to pausing expected subscription income when many customers stop paying.

brokered deposits financial

"Total brokered deposits"

Brokered deposits are large sums of customer cash placed at a bank through a third-party intermediary that shops around for the best interest rate, like a broker assembling a big bucket of savings and directing it to a bank. They matter to investors because they can quickly change a bank’s funding level and cost — providing fast liquidity but also adding volatility and regulatory scrutiny that can affect a bank’s stability and profitability.

Common Equity Tier 1 financial

"Common Equity Tier 1 and Total Risk-Based Capital Ratios"

Common Equity Tier 1 is the highest-quality capital a bank holds—mainly common shares and retained profits—that acts as the primary cushion against losses. Investors use the CET1 level and ratio to judge a bank’s financial strength and regulatory standing: a bigger cushion means the bank is better able to absorb shocks, sustain payouts and borrow cheaply, much like an emergency fund for a household.

Earnings Snapshot

Net income (loss), third quarter: $743,000 net loss

Third quarter and nine months ended September 30, 2026

Net income (loss), third quarter $743,000 net loss Compared with $802,000 net income in the third quarter of 2025

Basic and diluted earnings (loss) per share $0.08 loss per share Compared with $0.09 earnings per share in the third quarter of 2025

Net income (loss), nine months $429,000 net loss Compared with $4.573 million net loss for the nine months ended September 30, 2025

Net interest margin 2.96% Compared with 2.91% in the third quarter of 2025

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were FNWB’s third-quarter 2026 earnings?

First Northwest reported a $743,000 net loss and a $0.08 loss per share for the third quarter of 2026. In the third quarter of 2025, it reported net income of $802,000 and earnings per share of $0.09.

How did FNWB’s loan quality change in Q3 2026?

Nonperforming loans decreased to $19.9 million at September 30, 2026, from $20.7 million at June 30. Classified loans increased to $26.1 million, including $2.5 million of new downgrades; four collateral-dependent loans totaling $17.4 million accounted for 67% of classified loans.

Why did FNWB’s noninterest expense increase in Q3 2026?

Noninterest expense was $17.315 million, compared with $16.393 million in the preceding quarter. The company attributed the increase primarily to a nonrecurring $1.3 million legal-settlement expense, partly offset by lower consulting fees recorded in professional fees.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/29/2026 - 11:57 AM EDT Accepted by SEC EDGAR 10/29/2026 - 11:57 AM EDT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 29, 2026

FIRST NORTHWEST BANCORP

(Exact name of registrant as specified in its charter)



Washington	001-36741	46-1259100
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)



105 West 8th Street, Port Angeles, Washington	98362
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code: (360) 457-0461

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions.

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class:		Trading Symbol(s):		Name of each exchange on which registered:
Common Stock, par value $0.01 per share		FNWB		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02

Results of Operations and Financial Condition

On October 29, 2026, First Northwest Bancorp (the "Company") issued an earnings release for the quarter and nine months ended September 30, 2026. A copy of the earnings release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

This information (including Exhibit 99.1) is being furnished under Item 2.02 hereof and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act"), or otherwise subject to the liabilities of that section, and such information shall not be deemed incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 7.01

Regulation FD Disclosure

On October 29, 2026, the Company issued a slide presentation, which includes, among other things, a review of financial results and trends through the quarter and nine months ended September 30, 2026.

A copy of the Presentation Material is included as Exhibit 99.2 to this current report on Form 8-K and is incorporated herein by reference.

This information (including Exhibit 99.2) is being furnished under Item 7.01 hereof and shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, and such information shall not be deemed incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01	Financial Statements and Exhibits
(d) Exhibit.	The following exhibit is furnished with this Form 8-K.

Exhibit No.	Description
99.1	Press Release dated October 29, 2026
99.2	Investor Presentation - Third Quarter 2026
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


		FIRST NORTHWEST BANCORP


Date:	October 29, 2026	/s/Curt T. Queyrouze

		Curt T. Queyrouze
		President and Chief Executive Officer

Exhibit 99.1

PORT ANGELES, Wash., October 29, 2026 (GLOBE NEWSWIRE)

First Northwest Bancorp Reports Third Quarter 2026 Financial Results

First Northwest Bancorp (Nasdaq: FNWB) ("First Northwest" or the "Company"), the holding company for First Fed Bank ("First Fed" or the "Bank"), today reported its financial results for the third quarter and nine months ended September 30, 2026. The Company reported a net loss of $743,000 for the third quarter of 2026, compared to net income of $308,000 for the second quarter of 2026 and net income of $802,000 for the third quarter of 2025. Basic and diluted loss per share were $0.08 for the third quarter of 2026, compared to basic and diluted income per share of $0.03 for the second quarter of 2026 and basic and diluted income per share of $0.09 for the third quarter of 2025.

Management Outlook; President and Chief Executive Officer, Curt Queyrouze:

"We are encouraged by the continued momentum in our core banking franchise during the third quarter, including stable net interest income, modest net interest margin expansion and growth in customer deposits. These results reflect the progress we are making to enhance our funding mix and strengthen the balance sheet. Although reported results were affected by a higher provision for credit losses and the settlement of a previously disclosed legal matter, nonperforming loans declined and allowance coverage improved. With a stable capital position and several strategic and operational initiatives underway, we believe we are building a stronger foundation for improved profitability and long-term shareholder value."

2026 FINANCIAL RESULTS	3Q 26			2Q 26			3Q 25			2026 YTD			2025 YTD
OPERATING RESULTS (in millions)
Net (loss) income	$	(0.7	)	$	0.3		$	0.8		$	(0.4	)	$	(4.6	)
Net interest income		14.3			14.2			14.6			42.9			42.6
Provision for credit losses		0.7			(0.5	)		(0.7	)		0.3			6.8
Noninterest income		2.2			2.0			2.0			6.2			7.9
Noninterest expense		17.3			16.4			17.4			50.4			50.2
PER SHARE DATA
Basic and diluted (loss) earnings	$	(0.08	)	$	0.03		$	0.09		$	(0.05	)	$	(0.52	)
Book value		15.65			16.66			16.33			15.65			16.33
Tangible book value ⁽¹⁾		15.52			16.52			16.18			15.52			16.18
BALANCE SHEET (in millions)
Total assets	$	2,143		$	2,125		$	2,111		$	2,143		$	2,111
Total securities available for sale		310			287			283			310			283
Total loans		1,594			1,613			1,623			1,594			1,623
Total customer deposits		1,576			1,549			1,549			1,576			1,549
Total brokered deposits		59			59			104			59			104
Total shareholders' equity		149			158			155			149			155
ASSET QUALITY
Annualized net charge-offs
to average outstanding loans		0.11	%		0.04	%		0.37	%		0.07	%		0.90	%
Nonperforming assets to total assets		0.98			1.05			0.70			0.98			0.70
Allowance for credit losses on loans
to total loans		1.03			1.01			1.00			1.03			1.00
Nonaccrual loan coverage ratio		82.41			78.68			121.17			82.41			121.17

(1)	Non-GAAP financial measure; see "Additional Information - Non-GAAP Financial Measures" later in this release for definitions and a reconciliation to the most comparable GAAP financial measure.

Third Quarter Insights:

•		Growth of $27.0 million in customer deposits during the current quarter improved the funding mix.
•		Additional investment security purchases during the third quarter of 2026 drove the increase in total assets and partially offset a decline in total loans from the preceding quarter.
•		Net interest margin improved to 2.96% for the current quarter compared to 2.95% in the second quarter of 2026, and 2.91% for the third quarter of 2025.
•		First Fed remains well capitalized with a total risk-based capital ratio of 13.3% for the current quarter, 13.4% for the second quarter of 2026, and 13.7% for the third quarter of 2025.

Selected Quarterly Financial Ratios:

	As of or For the Quarter Ended															As of or For the Nine Months Ended September 30,
	September 30, 2026			June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			2026			2025
Performance ratios: ⁽¹⁾
Return on average assets		-0.14	%		0.06	%		0.00	%		0.07	%		0.15	%		-0.03	%		-0.28	%
Return on average equity		-1.87			0.78			0.02			0.96			2.10			-0.36			-4.03
Net interest margin ⁽²⁾		2.96			2.95			3.03			3.00			2.91			2.98			2.83
Efficiency ratio ⁽³⁾		105.0			101.3			101.4			92.0			104.9			102.6			99.2
Equity to total assets		6.95			7.45			7.36			7.46			7.32			6.95			7.32
Tangible performance ratios: ⁽¹⁾
Tangible common equity to tangible assets ⁽⁴⁾		6.89	%		7.39	%		7.30	%		7.40	%		7.26	%		6.89	%		7.26	%
Return on average tangible common equity ⁽⁴⁾		-1.89			0.79			0.02			0.97			2.12			-0.37			-4.07
Capital ratios (First Fed): ⁽⁵⁾
Tier 1 leverage		9.6	%		9.6	%		9.6	%		9.5	%		9.3	%		9.6	%		9.3	%
Common equity Tier 1		12.3			12.4			12.4			12.5			12.7			12.3			12.7
Total risk-based		13.3			13.4			13.5			13.6			13.7			13.3			13.7

(1)	Performance ratios are annualized, where appropriate.
(2)	Net interest income divided by average interest-earning assets.
(3)	Total noninterest expense as a percentage of net interest income and total other noninterest income.
(4)	Non-GAAP financial measure; see "Additional Information - Non-GAAP Financial Measures" later in this release for definitions and a reconciliation to the most comparable GAAP financial measure.
(5)	Current period capital ratios are preliminary and subject to finalization of the FDIC Call Report.

Net Interest Income and Margin

Total interest income increased $134,000 to $25.6 million for the third quarter of 2026, compared to $25.5 million for the preceding quarter, and decreased $1.3 million compared to $26.9 million in the third quarter of 2025. Interest income increased during the third quarter of 2026 primarily due to 2026 purchases of investment securities. Average investment securities balances and yields increased compared to the preceding quarter as a result of these purchases. Average consumer and commercial business loan balances increased while average real estate loan balances decreased over the preceding quarter. The yield on interest-earning assets was flat at 5.30% for both the second and third quarters of 2026 as additional income from higher-yielding investment securities and deposits in banks offset a small decline in interest from loans receivable.

Total interest expense was flat at $11.3 million for the second and third quarters of 2026, and decreased $1.1 million compared to $12.3 million in the third quarter of 2025. The deposit mix changed in the third quarter of 2026 with slightly higher rates paid on customer deposits offset by lower average balances on borrowings. As a result of third quarter changes, the total cost of funds decreased 1 basis point to 2.41% compared to the preceding quarter.

The net interest margin increased to 2.96% for the third quarter of 2026, from 2.95% for the preceding quarter and increased from 2.91% for the third quarter of 2025.

Noninterest Income and Expense

Noninterest income increased $169,000 to $2.2 million for the third quarter of 2026, compared to $2.0 million for the second quarter of 2026. The increase was primarily due to a nonrecurring gain recognized upon exercising a historic tax credit partnership redemption option, partially offset by a decline in the valuation of servicing rights on sold loans.

Noninterest expense increased $922,000 to $17.3 million for the third quarter of 2026, compared to $16.4 million for the preceding quarter. The increase was primarily due to a nonrecurring $1.3 million expense for the settlement of the litigation previously disclosed in the Company’s Form 8-K filed September 18, 2026. This increase was partially offset by lower consulting fees recorded in professional fees. Legal fees remain elevated due to the timing of the settlement in the quarter and the Company’s defense of other ongoing legal matters.

Allowance for Credit Losses on Loans ("ACLL") and Credit Quality

The ACLL increased $79,000 to $16.4 million at September 30, 2026, from $16.3 million at June 30, 2026. The ACLL as a percentage of total loans was 1.03% at September 30, 2026, an increase from 1.01% at June 30, 2026, and an increase from 1.00% at September 30, 2025. A $532,000 loan provision expense for the quarter ended September 30, 2026, was the result of $453,000 in net charge-offs and a $264,000 increase in reserves on individually evaluated loans, partially offset by a $185,000 decrease in the overall pooled loan reserve. The change in pooled loan reserve was driven by lower loss factors applied to multi-family and auto loans combined with decreased loan balances in commercial business loans.

Nonperforming loans decreased $842,000 to $19.9 million at September 30, 2026, from $20.7 million at June 30, 2026. Current quarter activity included principal payments totaling $1.4 million and net charge-offs on nonperforming loans totaling $419,000. The decreases were partially offset by the transition into nonaccrual status of loans totaling $1.0 million across multiple loan categories. ACLL to nonperforming loans increased slightly to 82% at September 30, 2026, from 79% at June 30, 2026, reflecting a higher ACLL balance and lower nonperforming loan balances.

Classified loans increased $593,000 to $26.1 million at September 30, 2026, from $25.5 million at June 30, 2026, primarily due to $2.5 million of new downgrades across multiple loan categories. The increase was partially offset by principal payments totaling $1.4 million and net charge-offs totaling $419,000. Four collateral-dependent loans totaling $17.4 million account for 67% of the classified loan balance at September 30, 2026.

	For the Quarter Ended
ACLL ($ in thousands)	September 30, 2026			June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025

Balance at beginning of period	$	16,309		$	16,823		$	16,987		$	16,203		$	18,345
Charge-offs:
Commercial real estate		—			—			(3	)		(329	)		(656	)
Construction and land		(110	)		(200	)		(171	)		(1,027	)		(483	)
Auto and other consumer		(171	)		(125	)		(276	)		(123	)		(106	)
Commercial business		(273	)		(34	)		(133	)		(964	)		(1,005	)
Total charge-offs		(554	)		(359	)		(583	)		(2,443	)		(2,250	)
Recoveries:
Commercial real estate		—			—			—			—			6
Auto and other consumer		91			109			50			34			47
Commercial business		10			73			382			2,727			675
Total recoveries		101			182			432			2,761			728
Net loan (charge-offs) recoveries		(453	)		(177	)		(151	)		318			(1,522	)
Provision for (recapture of) credit losses on loans		532			(337	)		(13	)		466			(620	)
Balance at end of period	$	16,388		$	16,309		$	16,823		$	16,987		$	16,203

Average total loans	$	1,578,190		$	1,604,872		$	1,613,526		$	1,622,476		$	1,650,340
Annualized net charge-offs (recoveries) to average outstanding loans		0.11	%		0.04	%		0.04	%		-0.08	%		0.37	%

Asset Quality ($ in thousands)	September 30, 2026			June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025
Nonaccrual loans:
One-to-four family	$	1,608		$	1,627		$	2,521		$	2,272		$	2,345
Multi-family		17			—			—			—			—
Commercial real estate		9,213			9,449			9,619			9,745			3,439
Construction and land		3,598			4,164			4,164			5,146			6,037
Home equity		158			159			53			53			9
Auto and other consumer		1,018			1,332			1,280			1,086			1,072
Commercial business		4,274			3,997			4,062			4,293			470
Total nonaccrual loans		19,886			20,728			21,699			22,595			13,372
Other real estate owned		1,101			1,568			1,380			1,380			1,377
Total nonperforming assets	$	20,987		$	22,296		$	23,079		$	23,975		$	14,749

Nonaccrual loans as a % of total loans		1.25	%		1.28	%		1.33	%		1.39	%		0.82	%
Nonperforming assets as a % of total assets ⁽¹⁾		0.98			1.05			1.08			1.14			0.70
ACLL as a % of total loans		1.03			1.01			1.03			1.04			1.00
ACLL as a % of nonaccrual loans		82.41			78.68			77.53			75.18			121.17
Total past due loans to total loans		1.44			1.09			1.18			1.21			0.88

(1)	Nonperforming assets consists of nonperforming loans (which include nonaccruing loans and accruing loans more than 90 days past due), other real estate owned and repossessed assets.

Financial Condition and Capital

Continued disciplined balance sheet management and deposit growth resulted in reduced reliance on higher-cost brokered deposits while maintaining stable capital levels.

Investment securities increased $23.2 million, or 8.1%, to $310.2 million at September 30, 2026, compared to $287.0 million three months earlier, and increased $27.6 million compared to $282.6 million at September 30, 2025. Purchases totaling $44.4 million were partially offset by an $11.9 million increase in net unrealized losses, maturities totaling $4.4 million and regular principal payments totaling $4.9 million during the third quarter of 2026. The estimated average life of the securities portfolio was approximately 6.9 years at September 30, 2026, 6.4 years at the preceding quarter end and 6.9 years at the end of the third quarter of 2025. The effective duration of the portfolio was approximately 4.2 years at September 30, 2026, compared to 4.6 years at the preceding quarter end and 4.8 years at the end of the third quarter of 2025.

Investment Securities ($ in thousands)		September 30, 2026		June 30, 2026		September 30, 2025	Three Month % Change		One Year % Change
Available for Sale at Fair Value
Municipal bonds	$	72,758	$	79,990	$	79,621	-9.0	%	-8.6	%
U.S. government agency issued asset-backed securities (ABS agency)		11,170		11,371		12,169	-1.8		-8.2
Corporate issued asset-backed securities (ABS corporate)		21,088		6,615		9,881	218.8		113.4
Corporate issued debt securities (Corporate debt)		60,191		50,991		43,339	18.0		38.9
U.S. Small Business Administration securities (SBA)		4,923		5,362		6,977	-8.2		-29.4
Mortgage-backed securities:
U.S. government agency issued mortgage-backed securities (MBS agency)		91,217		95,002		94,203	-4.0		-3.2
Non-agency issued mortgage-backed securities (MBS non-agency)		48,841		37,697		36,418	29.6		34.1
Total securities available for sale	$	310,188	$	287,028	$	282,608	8.1		9.8

Net loans receivable, excluding loans held for sale, decreased $19.9 million, or 1.2%, to $1.58 billion at September 30, 2026, from $1.60 billion at June 30, 2026, and decreased $30.6 million, or 1.9%, from $1.61 billion one year prior. Construction loans that converted into fully amortizing loans during the quarter totaled $2.4 million. Regular payments of $34.0 million, loan payoffs of $42.4 million and charge-offs totaling $554,000 outpaced new loan funding totaling $58.1 million and draws on existing loans totaling $18.0 million. Participation in the Northpointe Bank Mortgage Purchase Program ("Northpoint Bank MPP") decreased $20.0 million while purchased consumer loans increased $322,000 during the current quarter.

Loans ($ in thousands)		September 30, 2026		June 30, 2026			September 30, 2025		Three Month % Change		One Year % Change
Real Estate:
One-to-four family	$	353,620	$	357,077		$	382,486		-1.0	%	-7.5	%
Multi-family		245,236		255,813			296,321		-4.1		-17.2
Commercial real estate		420,161		402,798			396,519		4.3		6.0
Construction and land		62,491		61,697			67,793		1.3		-7.8
Total real estate loans		1,081,508		1,077,385			1,143,119		0.4		-5.4
Consumer:
Home equity		94,171		90,014			86,629		4.6		8.7
Auto and other consumer		296,217		294,982			280,224		0.4		5.7
Total consumer loans		390,388		384,996			366,853		1.4		6.4
Commercial business		122,031		151,000			113,160		-19.2		7.8
Total loans receivable		1,593,927		1,613,381			1,623,132		-1.2		-1.8
Less:
Derivative basis adjustment		353		(10	)		(896	)	3,630.0		139.4
Allowance for credit losses on loans		16,388		16,309			16,203		0.5		1.1
Total loans receivable, net	$	1,577,186	$	1,597,082		$	1,607,825		-1.2		-1.9

Total deposits increased $27.0 million to $1.63 billion at September 30, 2026, compared to $1.61 billion at June 30, 2026, and decreased $18.9 million compared to $1.65 billion one year prior. During the third quarter of 2026, total customer deposit balances increased $27.0 million and there was no change in brokered deposit balances. The customer deposit mix reflects increased average CD, money market and demand account balances while average balances of savings accounts decreased compared to the preceding quarter. The rates paid on customer interest-bearing deposits increased 7 basis points to 2.39% for the current quarter, compared to 2.32% for the second quarter of 2026. The deposit mix compared to September 30, 2025, reflects an increase in average balances of customer accounts to CD, savings and money market accounts, with an overall $29.6 million increase to average total customer balances. A $45.2 million decrease in the average balance of brokered CDs was the main driver for the year-over-year decrease in total deposits. Rates paid on total interest-bearing deposit accounts decreased 14 basis points compared to the same quarter one year ago.

Deposits ($ in thousands)		September 30, 2026		June 30, 2026		September 30, 2025	Three Month % Change		One Year % Change
Noninterest-bearing demand deposits	$	253,385	$	244,699	$	255,366	3.5	%	-0.8	%
Interest-bearing demand deposits		146,932		147,019		146,373	-0.1		0.4
Money market accounts		466,782		462,208		475,614	1.0		-1.9
Savings accounts		243,962		241,711		232,831	0.9		4.8
Certificates of deposit, customer		464,732		453,140		438,780	2.6		5.9
Certificates of deposit, brokered		58,615		58,615		104,363	0.0		-43.8
Total deposits	$	1,634,408	$	1,607,392	$	1,653,327	1.7		-1.1

Total shareholders’ equity decreased to $148.8 million at September 30, 2026, compared to $158.3 million three months earlier, due to decreases in the after-tax fair market values of the available-for-sale investment securities portfolio of $9.3 million and a net loss of $743,000, partially offset by the after-tax fair value of the investment portfolio hedge of $332,000. No shares of common stock were repurchased under the Company's April 2024 Stock Repurchase Plan (the "Repurchase Plan") during the quarter ended September 30, 2026. There are 846,123 shares that remain available for repurchase under the Repurchase Plan.

Capital levels for both the Company and the Bank remain in excess of applicable requirements and the Bank was categorized as "well-capitalized" at September 30, 2026. Preliminary calculations of Common Equity Tier 1 and Total Risk-Based Capital Ratios at September 30, 2026, for the Bank were 12.3% and 13.3%, respectively.

2026 Awards/Recognition
Forbes Best-in-State Banks						Sound Publishing:
Bellingham Best of the Northwest - Best Bank Gold						Best Bank in Clallam County
						Best Lender in the West End

About the Company

First Northwest Bancorp (Nasdaq: FNWB) is a financial holding company engaged in investment activities including the business of its subsidiary, First Fed Bank. First Fed is a Pacific Northwest-based financial institution which has served its customers and communities since 1923. Currently First Fed has 16 locations in Washington state including 11 full-service branches. First Fed’s business and operating strategy is focused on building sustainable earnings by delivering a full array of financial products and services for individuals, small businesses, non-profit organizations and commercial customers. First Northwest has also strategically invested in partnerships focused on developing modern financial solutions and a boutique investment banking/accelerator firm. These investments underscore the Company’s commitment to innovation and growth in the financial services sector. First Northwest Bancorp was incorporated in 2012 and completed its initial public offering in 2015 under the ticker symbol FNWB. The Company is headquartered in Port Angeles, Washington.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, expectations of the business environment in which we operate, projections of future performance and execution on certain strategies, perceived opportunities in the market, potential future credit experience, including our ability to collect, and include, but are not limited to, statements about our plans, objectives, expectations and intentions that are not historical facts, and other statements often identified by words such as "believes," "expects," "anticipates," "estimates," or similar expressions. These forward-looking statements are based upon current management beliefs and expectations and may, therefore, involve risks and uncertainties, many of which are beyond our control. Our actual results, performance, or achievements may differ materially from those suggested, expressed, or implied by forward-looking statements as a result of a wide variety of factors including, but not limited to: increased competitive pressures; changes in the interest rate environment; the credit risks of lending activities; pressures on liquidity, including as a result of withdrawals of deposits, declines in the value of our investment portfolio or changes in interest rates; risks related to overall economic conditions; geopolitical events; legislative, regulatory, and policy changes; legal proceedings, regulatory investigations and their resolutions; and other factors described in the Company’s latest Annual Report on Form 10-K under the section entitled "Risk Factors," and other filings with the Securities and Exchange Commission ("SEC"), which are available on our website at www.ourfirstfed.com and on the SEC’s website at www.sec.gov.

Any of the forward-looking statements that we make in this press release and in the other public statements we make may turn out to be incorrect because of the inaccurate assumptions we might make, because of the factors illustrated above or because of other factors that we cannot foresee. Because of these and other uncertainties, our actual future results may be materially different from those expressed or implied in any forward-looking statements made by or on our behalf and the Company's operating and stock price performance may be negatively affected. Therefore, these factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. We do not undertake and specifically disclaim any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law. These risks could cause our actual results for 2026 and beyond to differ materially from those expressed in or implied by any forward-looking statements by, or on behalf of, us and could negatively affect the Company’s operations and stock price performance.

For More Information Contact:

Curt Queyrouze, President and Chief Executive Officer

Phyllis Nomura, Chief Financial Officer and EVP

IRGroup@ourfirstfed.com

360-457-0461

FIRST NORTHWEST BANCORP AND SUBSIDIARY

CONSOLIDATED BALANCE SHEETS

(Dollars in thousands, except share data) (Unaudited)

	September 30, 2026			June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025
ASSETS
Cash and due from banks	$	17,986		$	14,649		$	16,548		$	15,530		$	15,688
Interest-earning deposits in banks		85,639			83,709			87,588			69,587			63,482
Investment securities available for sale, at fair value (amortized cost at each period end of $348,325, $313,215, $299,707, $295,849 and $310,545)		310,188			287,028			272,985			270,310			282,608
Loans held for sale		300			1,286			1,140			1,063			2,154
Loans receivable (net of allowance for credit losses on loans at each period end of $16,388, $16,309, $16,823, $16,987, and $16,203)		1,577,186			1,597,082			1,612,979			1,612,028			1,607,825
Federal Home Loan Bank (FHLB) stock, at cost		13,211			13,279			13,927			13,105			10,856
Accrued interest receivable		8,197			7,181			7,051			6,498			8,160
Premises and equipment, net		9,270			9,160			8,591			8,464			8,788
Servicing rights on sold loans, at fair value		2,776			3,012			2,999			3,014			3,093
Bank-owned life insurance ("BOLI"), net		43,762			43,305			42,850			42,382			41,889
Equity and partnership investments		15,331			15,441			15,452			15,489			15,048
Goodwill and other intangible assets, net		1,062			1,062			1,062			1,062			1,080
Deferred tax asset, net		16,937			13,664			13,898			13,638			14,168
Right-of-use ("ROU") asset, net		14,975			15,057			15,316			15,596			15,494
Prepaid expenses and other assets		25,742			19,920			21,057			20,129			21,040
Total assets	$	2,142,562		$	2,124,835		$	2,133,443		$	2,107,895		$	2,111,373

LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits	$	1,634,408		$	1,607,392		$	1,601,582		$	1,599,101		$	1,653,327
Borrowings		311,694			313,177			328,160			308,143			259,625
Accrued interest payable		145			151			280			1,223			1,145
Lease liability, net		15,968			16,039			16,250			16,439			16,071
Accrued expenses and other liabilities		28,795			28,260			27,514			24,301			24,321
Advances from borrowers for taxes and insurance		2,716			1,503			2,691			1,424			2,356
Total liabilities		1,993,726			1,966,522			1,976,477			1,950,631			1,956,845

Shareholders' Equity
Preferred stock, $0.01 par value, authorized 5,000,000 shares, no shares issued or outstanding		—			—			—			—			—
Common stock, $0.01 par value, 75,000,000 shares authorized; issued and outstanding at each period end: 9,508,205; 9,504,441; 9,499,300; 9,467,925; and 9,462,150		95			95			95			95			94
Additional paid-in capital		94,075			93,986			93,854			93,803			93,646
Retained earnings		91,272			92,015			91,707			91,699			91,317
Accumulated other comprehensive loss, net of tax		(31,165	)		(22,177	)		(22,920	)		(22,398	)		(24,429	)
Unearned employee stock ownership plan (ESOP) shares		(5,441	)		(5,606	)		(5,770	)		(5,935	)		(6,100	)
Total shareholders' equity		148,836			158,313			156,966			157,264			154,528
Total liabilities and shareholders' equity	$	2,142,562		$	2,124,835		$	2,133,443		$	2,107,895		$	2,111,373

FIRST NORTHWEST BANCORP AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF OPERATIONS

(Dollars in thousands, except per share data) (Unaudited)

	For the Quarter Ended														For the Nine Months Ended
	September 30, 2026			June 30, 2026			March 31, 2026			December 31, 2025		September 30, 2025			September 30, 2026			September 30, 2025
INTEREST INCOME
Interest and fees on loans receivable	$	21,815		$	21,997		$	22,000		$	22,431	$	22,814		$	65,812		$	67,859
Interest on investment securities		3,067			2,723			2,585			2,971		3,244			8,375			10,513
Interest on deposits in banks		464			453			467			473		570			1,384			1,572
FHLB dividends		243			282			282			262		282			807			920
Total interest income		25,589			25,455			25,334			26,137		26,910			76,378			80,864
INTEREST EXPENSE
Deposits		8,493			8,033			7,930			8,648		9,083			24,456			28,372
Borrowings		2,778			3,249			2,964			2,799		3,258			8,991			9,883
Total interest expense		11,271			11,282			10,894			11,447		12,341			33,447			38,255
Net interest income		14,318			14,173			14,440			14,690		14,569			42,931			42,609
PROVISION FOR CREDIT LOSSES
Provision for (recapture of) credit losses on loans		532			(337	)		(13	)		466		(620	)		182			6,854
Provision for (recapture of) credit losses on unfunded commitments		207			(203	)		91			97		(53	)		95			(102	)
Provision for (recapture of) credit losses		739			(540	)		78			563		(673	)		277			6,752
Net interest income after provision for (recapture of) credit losses		13,579			14,713			14,362			14,127		15,242			42,654			35,857
NONINTEREST INCOME
Loan and deposit service fees		1,150			1,107			1,122			1,044		1,114			3,379			3,315
Sold loan servicing fees and servicing rights mark-to-market		(47	)		162			127			57		85			242			372
Net gain (loss) on sale of loans		40			73			76			96		(39	)		189			16
Increase in BOLI cash surrender value		457			455			468			493		539			1,380			1,396
Income from BOLI death benefit, net		—			—			—			—		—			—			1,059
Other income		574			208			215			2,000		303			997			1,791
Total noninterest income		2,174			2,005			2,008			3,690		2,002			6,187			7,949
NONINTEREST EXPENSE
Compensation and benefits		8,185			8,054			8,232			8,042		8,353			24,471			20,766
Data processing		1,943			1,702			2,228			1,990		1,941			5,873			5,878
Occupancy and equipment		1,512			1,538			1,565			1,539		1,505			4,615			4,604
Supplies, postage, and telephone		305			384			298			332		344			987			988
Regulatory assessments and state taxes		548			581			534			688		558			1,663			1,538
Advertising		278			245			304			290		282			827			846
Professional fees		1,915			2,305			2,026			1,957		2,668			6,246			4,894
FDIC insurance premium		381			387			363			424		411			1,131			1,308
Legal settlement		1,300			—			—			—		(10	)		1,300			5,740
Other expense		948			1,197			1,134			1,640		1,338			3,279			3,593
Total noninterest expense		17,315			16,393			16,684			16,902		17,390			50,392			50,155
(Loss) income before (benefit from) provision for income taxes		(1,562	)		325			(314	)		915		(146	)		(1,551	)		(6,349	)
(Benefit from) provision for income taxes		(819	)		17			(320	)		533		(948	)		(1,122	)		(1,776	)
Net (loss) income	$	(743	)	$	308		$	6		$	382	$	802		$	(429	)	$	(4,573	)

Basic and diluted (loss) earnings per common share	$	(0.08	)	$	0.03		$	-		$	0.04	$	0.09		$	(0.05	)	$	(0.52	)
Diluted weighted average common shares outstanding		8,903,832			8,930,663			8,894,998			8,860,060		8,813,632			8,877,432			8,779,708

FIRST NORTHWEST BANCORP AND SUBSIDIARY

ADDITIONAL INFORMATION

(Dollars in thousands) (Unaudited)

Selected Loan Detail	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025
Construction and land loans breakout
1-4 Family construction	$	13,994	$	5,682	$	18,802	$	21,954	$	29,961
Multifamily construction		18,584		14,826		12,144		10,109		15,660
Nonresidential construction		24,952		35,749		25,758		23,005		16,484
Land and development		4,961		5,440		5,643		6,200		5,688
Total construction and land loans	$	62,491	$	61,697	$	62,347	$	61,268	$	67,793

Auto and other consumer loans breakout
Triad Manufactured Home loans	$	133,054	$	131,367	$	131,406	$	132,287	$	133,425
Woodside auto loans		153,421		152,748		147,444		137,678		131,800
First Help auto loans		5,632		6,430		7,570		8,491		9,561
Other auto loans		257		346		468		586		767
Other consumer loans		3,853		4,091		4,072		4,460		4,671
Total auto and other consumer loans	$	296,217	$	294,982	$	290,960	$	283,502	$	280,224

Commercial business loans breakout
Northpointe Bank MPP	$	24,644	$	44,602	$	41,951	$	18,941	$	-
Secured lines of credit		24,747		34,485		40,991		39,783		43,081
Unsecured lines of credit		2,597		2,953		3,351		2,901		2,580
SBA loans		6,724		6,818		5,505		5,645		6,347
Other commercial business loans		63,319		62,142		60,793		63,041		61,152
Total commercial business loans	$	122,031	$	151,000	$	152,591	$	130,311	$	113,160

Loans by Collateral and Unfunded Commitments	September 30, 2026		June 30, 2026		March 31, 2026		December 31, 2025		September 30, 2025
One-to-four family construction	$	19,639	$	20,583	$	18,571	$	23,815	$	31,627
All other construction and land		42,852		41,873		44,000		37,334		36,161
One-to-four family first mortgage		401,389		425,021		440,576		431,222		415,670
One-to-four family junior liens		19,018		19,986		21,169		21,003		20,568
One-to-four family revolving open-end		68,531		62,411		57,027		56,365		58,486
Commercial real estate, owner occupied:
Health care		31,244		31,522		28,177		28,488		28,794
Office		21,182		22,895		18,953		19,216		18,499
Warehouse		9,202		9,270		7,549		7,608		7,684
Other		74,961		71,064		72,556		71,313		73,562
Commercial real estate, non-owner occupied:
Office		40,034		36,297		36,657		40,311		40,917
Retail		51,685		52,465		53,519		50,494		50,839
Hospitality		63,005		62,352		62,729		63,113		63,953
Other		121,306		113,320		115,367		112,307		106,991
Multi-family residential		246,270		256,853		272,025		289,581		297,379
Commercial business loans		55,173		61,958		61,247		66,264		68,062
Commercial agriculture and fishing loans		31,886		30,197		27,982		25,842		23,346
State and political subdivision obligations		333		333		333		333		369
Consumer automobile loans		159,316		159,519		155,443		146,708		142,064
Consumer loans secured by other assets		135,280		133,899		133,825		134,826		136,073
Consumer loans unsecured		1,621		1,563		1,691		1,969		2,088
Total loans	$	1,593,927	$	1,613,381	$	1,629,396	$	1,628,112	$	1,623,132

Unfunded commitments under lines of credit or existing loans	$	169,974	$	164,614	$	166,899	$	167,489	$	158,118

FIRST NORTHWEST BANCORP AND SUBSIDIARY

NET INTEREST MARGIN ANALYSIS

(Unaudited)

	Three Months Ended
	September 30, 2026								June 30, 2026								September 30, 2025
	Average			Interest					Average			Interest					Average			Interest
	Balance			Earned/		Yield/			Balance			Earned/		Yield/			Balance			Earned/		Yield/
(dollars in thousands)	Outstanding			Paid		Rate			Outstanding			Paid		Rate			Outstanding			Paid		Rate
Interest-earning assets:
Loans receivable, net ^{(1) (2)}	$	1,561,983		$	21,815		5.54	%	$	1,588,321		$	21,997		5.55	%	$	1,632,684		$	22,814		5.54	%
Total investment securities		294,960			3,067		4.13			276,147			2,723		3.96			293,723			3,244		4.38
FHLB dividends		9,943			243		9.70			12,020			282		9.41			12,810			282		8.73
Interest-earning deposits in banks		49,136			464		3.75			48,783			453		3.72			50,150			570		4.51
Total interest-earning assets ⁽³⁾		1,916,022			25,589		5.30			1,925,271			25,455		5.30			1,989,367			26,910		5.37
Noninterest-earning assets		143,191								143,007								146,042
Total average assets	$	2,059,213							$	2,068,278							$	2,135,409
Interest-bearing liabilities:
Interest-bearing demand deposits	$	142,597		$	99		0.28		$	141,339		$	83		0.24		$	141,469		$	52		0.15
Money market accounts		466,389			2,642		2.25			455,356			2,451		2.16			464,265			2,832		2.42
Savings accounts		241,159			974		1.60			243,735			921		1.52			231,431			914		1.57
Certificates of deposit, customer		461,588			4,189		3.60			449,938			4,024		3.59			443,312			4,175		3.74
Certificates of deposit, brokered		58,745			589		3.98			51,788			554		4.29			103,959			1,110		4.24
Total interest-bearing deposits ⁽⁴⁾		1,370,478			8,493		2.46			1,342,156			8,033		2.40			1,384,436			9,083		2.60
Advances		204,364			2,159		4.19			252,230			2,633		4.19			265,554			2,913		4.35
Subordinated debt		34,685			619		7.08			34,668			616		7.13			34,617			345		3.95
Total interest-bearing liabilities		1,609,527			11,271		2.78			1,629,054			11,282		2.78			1,684,607			12,341		2.91
Noninterest-bearing deposits ⁽⁴⁾		249,784								237,762								251,448
Other noninterest-bearing liabilities		42,502								43,529								47,978
Total average liabilities		1,901,813								1,910,345								1,984,033
Average equity		157,400								157,933								151,376
Total average liabilities and equity	$	2,059,213							$	2,068,278							$	2,135,409

Net interest income				$	14,318							$	14,173							$	14,569
Net interest rate spread							2.52								2.52								2.46
Net earning assets	$	306,495							$	296,217							$	304,760
Net interest margin ⁽⁵⁾							2.96								2.95								2.91
Average interest-earning assets to average interest-bearing liabilities		119.0	%							118.2	%							118.1	%

(1) The average loans receivable, net balances include nonaccrual loans.

(2) Interest earned on loans receivable includes net deferred costs of $841,000, $775,000 and $410,000 for the three months ended September 30, 2026, June 30, 2026 and September 30, 2025, respectively.

(3) Includes interest-earning deposits (cash) at other financial institutions.

(4) Cost of all deposits, including noninterest-bearing demand deposits, was 2.08%, 2.04%, and 2.20% for the three months ended September 30, 2026, June 30, 2026 and September 30, 2025, respectively.

(5) Net interest income divided by average interest-earning assets.

FIRST NORTHWEST BANCORP AND SUBSIDIARY

ADDITIONAL INFORMATION

(Unaudited)

Non-GAAP Financial Measures

This press release contains financial measures that are not in conformity with generally accepted accounting principles in the United States of America ("GAAP"). Non-GAAP financial measures are presented where management believes the information will help investors understand the Company’s results of operations or financial position and assess trends. Where non-GAAP financial measures are used, the comparable GAAP financial measure is also provided. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, and are not necessarily comparable to non-GAAP performance measures that may be presented by other companies. Other banking companies may use names similar to those the Company uses for the non-GAAP financial measures the Company discloses, but may calculate them differently. Investors should understand how the Company and other companies each calculate their non-GAAP financial measures when making comparisons. Reconciliations of the GAAP and non-GAAP measures are presented below.

Calculations Based on Tangible Common Equity:

	For the Quarter Ended															For the Nine Months Ended
($ in thousands, except per share data)	September 30, 2026			June 30, 2026			March 31, 2026			December 31, 2025			September 30, 2025			September 30, 2026			September 30, 2025

Total shareholders' equity	$	148,836		$	158,313		$	156,966		$	157,264		$	154,528		$	148,836		$	154,528
Less: Goodwill and other intangible assets		1,062			1,062			1,062			1,062			1,080			1,062			1,080
Disallowed non-mortgage loan servicing rights		226			247			312			302			317			226			317
Total tangible common equity	$	147,548		$	157,004		$	155,592		$	155,900		$	153,131		$	147,548		$	153,131

Total assets	$	2,142,562		$	2,124,835		$	2,133,443		$	2,107,895		$	2,111,373		$	2,142,562		$	2,111,373
Less: Goodwill and other intangible assets		1,062			1,062			1,062			1,062			1,080			1,062			1,080
Disallowed non-mortgage loan servicing rights		226			247			312			302			317			226			317
Total tangible assets	$	2,141,274		$	2,123,526		$	2,132,069		$	2,106,531		$	2,109,976		$	2,141,274		$	2,109,976

Average shareholders' equity	$	157,400		$	157,933		$	159,532		$	157,588		$	151,376		$	158,281		$	151,538
Less: Average goodwill and other intangible assets		1,062			1,062			1,062			1,080			1,081			1,062			1,081
Average disallowed non-mortgage loan servicing rights		247			311			302			317			371			286			403
Total average tangible common equity	$	156,091		$	156,560		$	158,168		$	156,191		$	149,924		$	156,933		$	150,054

Net (loss) income	$	(743	)	$	308		$	6		$	382		$	802		$	(429	)	$	(4,573	)
Common shares outstanding		9,508,205			9,504,441			9,499,300			9,467,925			9,462,150			9,508,205			9,462,150
GAAP Ratios:
Equity to total assets		6.95	%		7.45	%		7.36	%		7.46	%		7.32	%		6.95	%		7.32	%
Return on average equity		-1.87	%		0.78	%		0.02	%		0.96	%		2.10	%		-0.36	%		-4.03	%
Book value per common share	$	15.65		$	16.66		$	16.52		$	16.61		$	16.33		$	15.65		$	16.33
Non-GAAP Ratios:
Tangible common equity to tangible assets ⁽¹⁾		6.89	%		7.39	%		7.30	%		7.40	%		7.26	%		6.89	%		7.26	%
Return on average tangible common equity ⁽¹⁾		-1.89	%		0.79	%		0.02	%		0.97	%		2.12	%		-0.37	%		-4.07	%
Tangible book value per common share ⁽¹⁾	$	15.52		$	16.52		$	16.38		$	16.47		$	16.18		$	15.52		$	16.18

(1)	We believe that the use of tangible equity and tangible assets improves the comparability to other institutions that have not engaged in acquisitions that resulted in recorded goodwill and other intangibles.