If You Invested in First Financial Northwest Inc (FFNW)

First Financial Northwest, Inc. (historically trading on the Nasdaq under the symbol FFNW) was the holding company for First Financial Northwest Bank, an FDIC‑insured Washington State‑chartered commercial bank headquartered in Renton, Washington. According to company disclosures, the Bank served the Puget Sound Region through 15 full‑service banking offices and operated in the finance and insurance sector as a savings and commercial banking institution.

Over time, the Company emphasized delivering personalized service and unique financial solutions, as reflected in its description of First Financial Northwest Bank as a provider of financial solutions, a concierge of professional connections, and a partner in community service. The Bank highlighted attributes such as being friendly, professional and responsive, focusing on relationships with customers, and using progressive technology to support its services.

Transition of the Banking Business

First Financial Northwest, Inc. entered into a Purchase and Assumption Agreement with Global Federal Credit Union, under which Global agreed to acquire substantially all of the assets and assume substantially all of the liabilities, including deposit liabilities, of First Financial Northwest Bank. The transaction closed on April 11, 2025, when Global Federal Credit Union acquired substantially all of the Bank’s assets and assumed substantially all of its liabilities.

Following this asset sale, First Financial Northwest Bank’s locations were to be operated by Global Federal Credit Union as a separately branded division until system and brand integration was completed. First Financial Northwest Bank customers were expected to become members of Global Federal Credit Union with access to Global’s product and service offerings, while the Company focused on winding down its affairs.

Delisting and Dissolution of First Financial Northwest, Inc.

After the completion of the asset sale, First Financial Northwest, Inc. pursued a Plan of Dissolution. The Company notified the Nasdaq Stock Market of its intent to delist its common stock, and it filed a Form 25 with the Securities and Exchange Commission to remove its common stock from listing on the Nasdaq Capital Market. The Company also indicated its expectation to file a Form 15 to suspend its periodic reporting obligations under the Securities Exchange Act of 1934.

As part of the dissolution process, the Company declared an initial liquidating distribution to shareholders and later announced a final cash liquidation distribution pursuant to its Plan of Dissolution. The initial liquidating distribution was set at $22.00 per share, representing a substantial portion of the anticipated total distributions. The final cash liquidation distribution was announced in the amount of $1.30 per share. Together, these distributions were described as representing all payments to be made to shareholders under the Plan of Dissolution.

With the asset sale completed, the stock transfer books closed, the delisting process initiated, and liquidating distributions made, First Financial Northwest, Inc. has been in the process of winding up and dissolving under Washington law. The FFNW ticker therefore represents a former public holding company whose operating bank business has been transferred to Global Federal Credit Union and whose remaining activities have centered on liquidation and shareholder distributions.

Historical Banking Operations

Before the asset sale and dissolution, First Financial Northwest Bank operated as a Washington State‑chartered commercial bank and FDIC‑insured institution. It served customers in the Puget Sound Region through 15 full‑service banking offices. Company communications described the Bank’s approach as relationship‑focused, knowledgeable and efficient, and noted the use of progressive technology to support customer service. The Bank reported on its loan portfolio, deposit base, capital ratios, credit quality and net interest income in periodic financial results.

In its earnings releases, the Company discussed net loans receivable, deposit composition (including noninterest‑bearing demand deposits, interest‑bearing demand deposits, savings, money market accounts, retail certificates of deposit and brokered deposits), and the use of Federal Home Loan Bank advances. It also reported on credit quality metrics such as nonaccrual loans and allowance for credit losses, and on net interest margin and interest income and expense trends.

Corporate Status and Investor Considerations

For investors researching FFNW stock, it is important to recognize that First Financial Northwest, Inc. has sold substantially all of the assets and liabilities of its banking subsidiary to Global Federal Credit Union and has undertaken a Plan of Dissolution. The Company has closed its stock transfer books, filed for delisting from Nasdaq, and described its intention to distribute remaining net assets to shareholders and dissolve under Washington law.

As a result, FFNW functions as a historical ticker associated with a former bank holding company rather than an ongoing operating banking enterprise. Historical information about First Financial Northwest, Inc. and First Financial Northwest Bank, including prior financial statements and regulatory filings, provides context on the Company’s past operations, but the ongoing retail and commercial banking activities related to the former Bank are now associated with Global Federal Credit Union.

Key Points for Historical Reference

• First Financial Northwest, Inc. was the parent company of First Financial Northwest Bank, an FDIC‑insured Washington State‑chartered commercial bank headquartered in Renton, Washington.
• The Bank served the Puget Sound Region through 15 full‑service banking offices.
• Global Federal Credit Union acquired substantially all of the assets and assumed substantially all of the liabilities of First Financial Northwest Bank, with the transaction closing on April 11, 2025.
• Following the asset sale, First Financial Northwest, Inc. pursued a Plan of Dissolution, closed its stock transfer books, filed for delisting from Nasdaq, and announced initial and final liquidating cash distributions to shareholders.
• The FFNW ticker now represents a former public company in dissolution rather than an active, exchange‑listed banking institution.