Filing Analysis
First Northwest Bancorp issued its quarterly earnings release and investor presentation for the period ending June 30, 2026. The filing serves as a standard regulatory disclosure of financial results and trends.
📋 Key Facts
- Earnings release issued for the quarter and six months ended June 30, 2026 (Item 2.02).
- Investor presentation released providing review of financial results and trends (Item 7.01).
- Filing date: July 29, 2026.
First Northwest Bancorp reported the results of its 2026 Annual Meeting of Shareholders, where shareholders approved an amendment to the 2020 Equity Incentive Plan, increasing available shares by 300,000. However, a proposal to remove supermajority voting provisions from the Articles of Incorporation failed to pass as it did not meet the required 80% threshold of outstanding shares.
🚩 Red Flags
- The company failed to pass a governance-modernizing proposal to remove supermajority provisions due to a high 80% outstanding share voting requirement.
📋 Key Facts
- The Annual Meeting of Shareholders was held on May 19, 2026, with 7,741,679.66 of 9,499,300 outstanding shares represented (81.5% quorum).
- Shareholders approved the Amended and Restated 2020 Equity Incentive Plan, which increases the share pool by 300,000 shares (from 520,000 to 820,000) and raises the non-employee director annual compensation limit from $150,000 to $175,000.
- Proposal 2, which sought to remove supermajority voting provisions from the Articles of Incorporation, failed to pass because it only received votes representing 67.37% of outstanding shares, falling short of the required 80% threshold.
- Shareholders ratified the appointment of Baker Tilly US, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026.
First Northwest Bancorp furnished an investor presentation on May 4, 2026, reviewing its financial results and performance trends for the first quarter ended March 31, 2026.
📋 Key Facts
- The company issued a slide presentation on May 4, 2026, for the quarter ended March 31, 2026.
- The presentation is included as Exhibit 99.1 and was furnished under Item 7.01 Regulation FD Disclosure.
- The disclosure includes a review of financial results and trends through the first quarter of 2026.
- The filing was signed by Curt T. Queyrouze, President and Chief Executive Officer.
First Northwest Bancorp (FNWB) issued its earnings release for the first quarter ended March 31, 2026. The filing is a standard quarterly results announcement furnished under Item 2.02.
📋 Key Facts
- Earnings release covers the quarter ended March 31, 2026
- Information was furnished under Item 2.02 (Results of Operations and Financial Condition)
- Exhibit 99.1 contains the full press release text
- Report was signed by Curt T. Queyrouze, President and CEO
First Northwest Bancorp issued a slide presentation providing a review of financial results and trends for the quarter and year ended December 31, 2025. This is a routine regulatory filing under Item 7.01 to provide investor updates.
📋 Key Facts
- Company released an investor presentation on February 4, 2026.
- The presentation covers financial results and trends through the quarter and year ended December 31, 2025.
- Information was furnished under Item 7.01 (Regulation FD Disclosure) rather than filed.
First Northwest Bancorp issued an earnings release for the quarter and fiscal year ended December 31, 2025. This is a routine regulatory filing to furnish financial results to the market.
📋 Key Facts
- Earnings release issued on January 29, 2026, covering the period ending December 31, 2025.
- The filing includes Exhibit 99.1 containing the press release with financial results.
- Reported under Item 2.02 (Results of Operations and Financial Condition).
First Northwest Bancorp announced the resignation of Geraldine L. Bullard, Executive Vice President and COO of its subsidiary First Fed Bank, effective February 4, 2026.
🚩 Red Flags
- Departure of a high-level executive who has previously held multiple key roles (Interim CEO and CFO).
📋 Key Facts
- Geraldine L. Bullard is resigning from her role as EVP and Chief Operating Officer of First Fed Bank.
- The resignation is effective February 4, 2026.
- Ms. Bullard previously served as Interim CEO and CFO during her tenure.
- She joined the company on January 30, 2020.
- The resignation was not due to any disagreement with the Company regarding operations, policies, or practices.
First Northwest Bancorp announced the immediate retirement of Director Norman J. Tonina, Jr., effective December 5, 2025. The departure is a planned retirement and not due to any disagreement with the company's operations or policies.
📋 Key Facts
- Norman J. Tonina, Jr. retired from the Boards of First Northwest Bancorp and its subsidiary, First Fed Bank, effective December 5, 2025.
- Mr. Tonina served as an independent director and Chair of the Nominating and Corporate Governance Committee for both entities.
- He was also a member of the Board Loan and Asset Quality Committee for First Fed.
- The company stated his decision did not result from any disagreement regarding operations, policies, or practices.
First Northwest Bancorp issued a slide presentation providing a review of financial results and trends for the quarter and nine months ended September 30, 2025.
📋 Key Facts
- The company released an investor presentation (Exhibit 99.1) on October 29, 2025.
- Presentation covers financial results and trends through Q3 2025 (nine months ended September 30, 2025).
- Information is furnished under Item 7.01 Regulation FD Disclosure.
First Northwest Bancorp (FNWB) has filed an 8-K to furnish its quarterly earnings release for the period ended September 30, 2025. This is a routine regulatory filing used by public companies to communicate financial results.
📋 Key Facts
- The company issued an earnings release on October 27, 2025.
- The reporting period covered is the quarter ended September 30, 2025.
- The filing was signed by Curt Queyrouze, President and CEO.
First Northwest Bancorp has appointed Curt Queyrouze as President and CEO, effective September 17, 2025. This appointment concludes the interim leadership of Geraldine L. Bullard.
🚩 Red Flags
- None identified; the transition appears to be a planned return to permanent leadership following an interim period.
📋 Key Facts
- Curt Queyrouze to serve as President and CEO and a member of both Boards, effective Sept 17, 2025.
- Geraldine L. Bullard will transition from Interim CEO back to Executive Vice President and COO.
- Queyrouze's base salary is set at $550,000 per year with a $100,000 signing bonus (subject to 1-year clawback).
- Compensation includes an award of 50,000 restricted stock shares vesting over three years.
- Employment term through December 31, 2028, unless terminated or extended by mutual agreement.
- Queyrouze brings experience from Coastal Financial Corporation and TAB Bank, including expertise in BaaS (Banking as a Service).
First Northwest Bancorp issued a slide presentation on July 24, 2025, providing a review of financial results and trends for the quarter and six months ended June 30, 2025.
📋 Key Facts
- Company released an investor presentation (Exhibit 99.1) on July 24, 2025.
- The presentation covers financial results and performance trends through the second quarter of 2025.
- Information is being furnished under Item 7.01 (Regulation FD Disclosure) rather than filed.
First Northwest Bancorp has filed an 8-K to furnish its quarterly earnings release for the period ended June 30, 2025. This is a routine regulatory filing used by public companies to disclose financial results.
📋 Key Facts
- The company issued an earnings release on July 24, 2025.
- The reported data pertains to the quarter ended June 30, 2025.
- The filing is made under Item 2.02 (Results of Operations and Financial Condition).
- Interim CEO Geraldine Bullard signed the report.
First Northwest Bancorp announced the election of Diane C. Davis to its Board of Directors and its banking subsidiary, First Fed Bank, effective July 23, 2025.
📋 Key Facts
- Diane C. Davis elected as Director of First Northwest Bancorp and First Fed Bank.
- Term is effective immediately through the 2026 Annual Meeting of Shareholders.
- Ms. Davis will serve on the Nominating and Corporate Governance Committee (Company & First Fed) and the Board Loan Committee (First Fed).
- Compensation includes a $36,530 annual retainer for outside Directors.
- Director to receive $50,000 in common stock vesting in three equal annual installments starting September 7, 2026.
First Northwest Bancorp's bank subsidiary has entered into a settlement agreement to resolve an adversary proceeding involving bankruptcy debtors. The settlement involves cash payments ranging from $2.87 million to $5.74 million in exchange for the release of liens and claims.
🚩 Red Flags
- Litigation/Adversary proceeding involving constructive fraudulent transfer allegations (though now settled).
- Cash outflow of up to $5.74 million impacting bank earnings.
- Previous reservation of $5.8 million indicates significant potential impact on quarterly results.
📋 Key Facts
- Settlement Agreement reached on July 17, 2025, between First Fed Bank (subsidiary), OpCo Debtors, Ideal Property Investments LLC, and Unsecured Creditors' Committee.
- The settlement resolves an adversary proceeding initiated by Ideal Property Investments LLC regarding claims of constructive fraudulent transfer or recharacterization.
- Bank will make cash payments between $2.87 million and $5.74 million depending on creditor participation in mutual releases.
- In exchange, the Bank receives a release of certain liens against Debtors' property and a release of all related claims.
- The Bank previously reserved $5.8 million for this matter as noninterest expense in Q1 2025.
First Northwest Bancorp announced the resignation of its President and CEO, Matthew P. Deines, effective July 12, 2025, alongside the immediate retirement of Chief Banking Officer Christopher W. Neros. Geraldine L. Bullard has been appointed Interim CEO to manage the transition while a search for a permanent replacement is conducted.
🚩 Red Flags
- Simultaneous departure of both the CEO and the Chief Banking Officer creates leadership instability.
- Immediate retirement of a key executive (CBO) alongside the CEO transition increases operational risk.
- Significant cash outflow for severance ($515,000 + COBRA).
📋 Key Facts
- Matthew P. Deines will resign as President, CEO, and Board Member effective July 12, 2025.
- Deines' departure is described as mutual and not due to any disagreement with the Company or Boards.
- Severance for Deines includes $515,000 (one year of base salary) plus 90 days of COBRA premiums; unvested equity is forfeited except for 5,996 restricted shares vesting immediately.
- Geraldine L. Bullard (current EVP and COO) appointed Interim CEO effective July 13, 2025.
- Bullard's salary increases by $143,000 to a total of $498,000 during her interim tenure.
- Bullard is eligible for a $250,000 retention bonus if she remains through the 61st day after a new CEO starts.
- Chief Banking Officer Christopher W. Neros retired effective immediately on July 2, 2025.
First Northwest Bancorp disclosed a lawsuit filed by 3|5|2 Capital against its subsidiary, First Fed Bank, alleging aiding and abetting fraud related to an investment in Water Station Management, LLC. The plaintiff seeks over $106.9 million in compensatory damages plus punitive damages.
🚩 Red Flags
- Significant litigation risk involving a claim exceeding $106.9 million.
- Allegations of 'aiding and abetting fraud' which can carry severe reputational and regulatory consequences for banking institutions.
- The underlying entity (Water Station Management, LLC) is currently in involuntary bankruptcy proceedings.
📋 Key Facts
- Lawsuit filed on June 10, 2025, in Superior Court of the State of Washington, County of King (Case No. 25-2-17253-8 SEA).
- Plaintiff: 3|5|2 Capital GP LLC and 3|5|2 Capital ABS Master Fund LP.
- Defendant: First Fed Bank (subsidiary of First Northwest Bancorp).
- Allegation: The bank allegedly aided and abetted fraud, conspiracy, unjust enrichment, and constructive trust regarding a $100 million misappropriation by Water Station Management, LLC.
- Damages sought: At least $106,925,000 in compensatory damages, plus interest, punitive damages, and legal fees.
- The Company and the Bank strongly dispute all allegations and intend to defend against the claims.
First Northwest Bancorp announced a change in its independent registered public accounting firm following the merger of Moss Adams LLP with Baker Tilly US, LLP. The company's Audit Committee has appointed Baker Tilly as the successor auditor.
🚩 Red Flags
- None identified; the change is due to a merger of the auditing firm rather than internal disputes.
📋 Key Facts
- Moss Adams LLP merged with Baker Tilly US, LLP effective June 3, 2025.
- Baker Tilly US, LLP is appointed as the successor independent registered public accounting firm.
- The change was triggered by the merger of the previous auditor rather than a disagreement or company-initiated termination.
- Moss Adams' audit reports for fiscal years 2023 and 2024 did not contain adverse opinions, disclaimers, or qualifications.
First Northwest Bancorp held its 2025 Annual Meeting of Shareholders on May 20, 2025. The meeting resulted in the election of nine directors and the ratification of Moss Adams LLP as independent auditors, though a proposal to remove supermajority voting provisions failed to meet the required threshold.
🚩 Red Flags
- Failure to pass Proposal 2 (removal of supermajority provisions) indicates shareholder dissatisfaction with current corporate governance structures or a desire to maintain existing control mechanisms.
📋 Key Facts
- Annual Meeting held on May 20, 2025; quorum was present with 7,819,769.61 shares represented out of 9,440,618 outstanding.
- All nine nominees for the Board of Directors were elected to one-year terms expiring in 2026.
- Proposal 2 (Amended and Restated Articles of Incorporation - Remove Supermajority) failed as it only received 65.76% of votes, missing the required 80% threshold.
- Advisory (non-binding) vote on executive compensation was approved with 67.80% in favor.
- Moss Adams LLP was ratified as the independent registered public accounting firm for the year ending December 31, 2024.
First Northwest Bancorp filed an 8-K/A to amend its previous earnings release for Q1 2025. The amendment is necessary due to events occurring after the original April 24, 2025 filing that required updates to the financial results and presentation.
🚩 Red Flags
- Restatement/Amendment of previously issued earnings data suggests volatility or errors in prior reporting.
- The need to update results 'as a result of events occurring following the issuance' indicates significant post-reporting developments that impact financial standing.
📋 Key Facts
- The filing is an amendment (8-K/A) to a previously filed report from April 24, 2025.
- Updates are being made to both the earnings release (Exhibit 99.1) and the slide presentation (Exhibit 99.2).
- The changes stem from events occurring after the original issuance of the Q1 2025 results.
- The company references specific updates contained in its Form 10-Q for the quarter ended March 31, 2025.
First Northwest Bancorp (FNWB) filed an 8-K to announce its quarterly earnings release for the period ended March 31, 2025 and a dividend declaration.
📋 Key Facts
- Earnings release for the quarter ended March 31, 2025 was issued on April 24, 2025.
- The Board of Directors declared a quarterly cash dividend of $0.07 per share of common stock.
- Dividend record date is May 9, 2025; payment date is May 23, 2025.
First Northwest Bancorp announced the appointment of Phyllis Nomura as Executive Vice President, CFO, Treasurer, and Principal Accounting Officer, effective March 27, 2025. This move is part of the company's management succession planning.
📋 Key Facts
- Phyllis Nomura appointed EVP, CFO/Treasurer, and Principal Accounting Officer effective March 27, 2025.
- Nomura has over 30 years of financial experience, including previous CFO roles at YWCA Seattle and Kosmos Management.
- Compensation includes an annual base salary of $305,000 and a grant of 5,000 restricted stock shares vesting over three years starting May 1, 2025.
- Nomura is a licensed CPA and previously served as Senior Director of Accounting at the company since November 2024.
First Northwest Bancorp issued a slide presentation via Item 7.01 to review financial results and trends for the quarter and year ended December 31, 2024.
📋 Key Facts
- The company released an investor presentation (Exhibit 99.1) on March 10, 2025.
- The presentation covers financial results and trends through the period ending December 31, 2024.
- Information was furnished under Item 7.01 of Form 8-K, meaning it is not considered 'filed' for purposes of Section 18 liability.
First Northwest Bancorp announced the election of Johanna A. Bartee to its Board of Directors, filling a vacancy left by Craig Curtis in December 2024. Ms. Bartee will serve on the Nominating and Corporate Governance Committee and the First Fed Board Loan Committee.
🚩 Red Flags
- None identified. The departure mentioned (Craig Curtis) occurred in December 2024 and is being filled by a new director.
📋 Key Facts
- Johanna A. Bartee elected as Director effective February 26, 2025.
- Vacancy created by the departure of Craig Curtis in December 2024.
- Ms. Bartee appointed to the Nominating and Corporate Governance Committee (Company & First Fed) and the Board Loan Committee (First Fed).
- Annual retainer for outside Directors is $36,530; additional committee retainers apply.
- Equity compensation includes $23,250 in common stock vesting March 7, 2026, and a one-time grant of $50,000 in common stock vesting over three years starting March 7, 2026.
First Northwest Bancorp (FNWB) filed an 8-K to announce its earnings release for the quarter and fiscal year ended December 31, 2024. The filing also includes a slide presentation and the declaration of a quarterly cash dividend.
📋 Key Facts
- Earnings release issued for the period ending December 31, 2024.
- Board of Directors declared a quarterly cash dividend of $0.07 per share.
- Dividend record date: February 14, 2025; Payment date: February 28, 2025.
First Northwest Bancorp announced the resignation of Director Craig Curtis from both the Company's and its subsidiary's Boards, effective December 31, 2024. The departure is not due to any disagreement with the company regarding operations or policies.
📋 Key Facts
- Craig Curtis will resign as a Director effective December 31, 2024.
- Mr. Curtis serves as an independent director and member of the Nominating and Corporate Governance Committee for both First Northwest Bancorp and First Fed Bank.
- The company stated the resignation was not due to any disagreement regarding operations, policies, or practices.
- The Nominating and Corporate Governance Committee is evaluating whether to seek a replacement based on diversity, skill set, and experience.
First Northwest Bancorp entered into a new employment agreement with its President and CEO, Matthew P. Deines, effective December 7, 2024. The filing details updated compensation terms, including base salary and incentive structures.
🚩 Red Flags
- None identified; this is a standard renewal/restructuring of an existing executive agreement.
📋 Key Facts
- New employment agreement for Matthew P. Deines (President and CEO) effective Dec 7, 2024.
- Base salary set at $515,000 per year, subject to Board adjustment.
- Includes eligibility for incentive bonuses and equity incentive awards.
- Contains a one-year non-compete/non-solicitation clause following termination.
- Termination without Cause or by CEO for Good Reason triggers a lump sum payment of 1.0x annual base salary plus 90 days of COBRA premiums.
- Change in Control provision: If terminated without Cause within 12 months of a Change in Control, severance increases to 1.5x annual base salary.
First Northwest Bancorp filed an 8-K to furnish an updated investor presentation dated November 4, 2024. The filing is intended for use in meetings with investors and analysts.
📋 Key Facts
- The company released an updated Investor Presentation (Exhibit 99.1) on November 4, 2024.
- The information is being furnished under Item 7.01 Regulation FD Disclosure.
- The filing includes a disclaimer that the company is not obligated to update these materials in the future.
First Northwest Bancorp (FNWB) filed an 8-K to furnish its quarterly earnings release for the period ending September 30, 2024. This is a routine regulatory filing used to communicate financial results to the market.
📋 Key Facts
- Earnings release issued on October 29, 2024, for the quarter ended September 30, 2024.
- The filing includes Exhibit 99.1 containing the press release.
- Information is furnished under Item 2.02 and is not considered 'filed' for purposes of Section 18 liability.
First Northwest Bancorp announced the termination of a FDIC Consent Order against its subsidiary, First Fed Bank, following successful remediation of compliance deficiencies. Additionally, the company declared a quarterly cash dividend of $0.07 per share.
📋 Key Facts
- The FDIC terminated the Consent Order effective October 23, 2024; the order had been in place since November 21, 2023.
- Termination follows successful resolution of compliance program deficiencies at First Fed Bank.
- Board declared a quarterly cash dividend of $0.07 per common share.
- Dividend record date: November 8, 2024; Payment date: November 22, 2024.
First Northwest Bancorp has issued a notice of non-reliance on its previously issued financial statements for the periods ended June 30, 2024. The restatement is driven by an additional $6.6 million in charge-offs and increased provisions for credit losses across commercial and consumer loan programs.
🚩 Red Flags
- Restatement of previously issued financial statements
- Identification of a material weakness in Internal Control Over Financial Reporting (ICFR)
- Significant increase in charge-offs ($6.6M) indicating potential credit quality deterioration in commercial and consumer portfolios
- Non-reliance on prior earnings releases and shareholder communications
📋 Key Facts
- The company determined that unaudited consolidated financial statements for the three and six month periods ended June 30, 2024, should no longer be relied upon.
- An additional $6.6 million in charge-offs were identified across commercial construction loans, commercial business loans, and the Splash unsecured consumer loan program.
- The total restated provision for credit losses on loans is now $8.7 million.
- Management identified a material weakness in the Company’s internal control over financial reporting (ICFR) as of June 30, 2024.
- The restatement was made following consultation with management's independent registered public accounting firm and prudential regulators.
First Northwest Bancorp (FNWB) filed an 8-K to furnish its quarterly earnings release for the period ended June 30, 2024. The filing also includes a declaration of a quarterly cash dividend.
📋 Key Facts
- Earnings release for the quarter ended June 30, 2024 was issued on July 25, 2024.
- Board of Directors declared a quarterly cash dividend of $0.07 per share of common stock.
- Dividend is payable on August 23, 2024.
- Record date for the dividend is August 9, 2024.
First Northwest Bancorp announced the immediate retirement of Jennifer Zaccardo from her positions as an independent director on both the Company and First Fed Bank boards. The departure was not due to any disagreement with management or company practices.
🚩 Red Flags
- None identified. The filing explicitly states the departure was not due to disagreements regarding operations, policies, or practices.
📋 Key Facts
- Effective date of retirement: July 2, 2024.
- Ms. Zaccardo served as an independent director and member of the Nominating and Corporate Governance Committee.
- The Compensation Committee approved accelerated vesting of 1,476 restricted shares originally scheduled to vest on March 7, 2025; new vesting date is July 10, 2024.
- The Board's Nominating and Corporate Governance Committee will evaluate whether to seek a replacement based on diversity and skill set requirements.
First Northwest Bancorp held its 2024 Annual Meeting of Shareholders on May 30, 2024. The meeting resulted in the election of ten directors and the ratification of Moss Adams LLP as independent auditors, though a proposal to remove supermajority provisions failed to meet the required threshold.
🚩 Red Flags
- Failure to pass Proposal 2 (removal of supermajority provisions) indicates shareholder dissatisfaction or disagreement regarding corporate governance structure/charter amendments.
📋 Key Facts
- Annual Meeting held on May 30, 2024.
- Quorum was present with 8,007,172.7 shares represented (out of 9,443,271 outstanding).
- All ten nominees for the Board of Directors were elected to one-year terms expiring in 2025.
- Proposal 2 (Amended and Restated Articles of Incorporation - Remove Supermajority) failed, receiving only 67.50% of shares outstanding vote against a required 80%.
- Advisory vote on executive compensation was approved with 83.71% 'For' votes.
- Ratification of Moss Adams LLP as independent registered public accounting firm for the year ending Dec 31, 2024, passed with 98.88% approval.
First Northwest Bancorp issued its quarterly earnings release for the period ended March 31, 2024. The company also announced a quarterly cash dividend of $0.07 per share.
📋 Key Facts
- Earnings release issued for the quarter ended March 31, 2024 (Exhibit 99.1).
- Board of Directors declared a quarterly cash dividend of $0.07 per share of common stock.
- Dividend record date: May 10, 2024.
- Dividend payment date: May 24, 2024.
First Northwest Bancorp announced the implementation of an Executive Change in Control (CIC) Plan for its executive officers at both the holding company and the banking subsidiary level. The plan outlines severance benefits triggered by a change in control event.
🚩 Red Flags
- Implementation of significant severance/parachute payments for executives in the event of a change in control.
📋 Key Facts
- The CIC Plan was approved by the Compensation Committee on February 27, 2024.
- Participants include all executive officers of First Northwest Bancorp and First Fed Bank, excluding CEO Matthew P. Deines.
- Benefits for participants include earned unpaid salary/incentives, pro rata target bonus, a lump sum equal to 2x (salary + target bonus), and 24 months of COBRA coverage.
- The plan includes provisions to mitigate Section 280G excise taxes via full payment or reduction of benefits.
First Northwest Bancorp announced the election of Sean P. Brennan to its Board of Directors, expanding the board size to ten members. Mr. Brennan will serve on several key committees and receives standard director compensation including a stock grant.
📋 Key Facts
- Sean P. Brennan elected as Director effective March 26, 2024.
- Board size expanded from nine to ten directors for both the Company and its subsidiary, First Fed Bank.
- Mr. Brennan appointed to Audit (and Compliance) Committee, Compensation Committee, and Board Loan Committee.
- Annual retainer for outside Directors is $36,530; additional committee retainers apply.
- First-time director receives $50,000 in common stock vesting in three equal annual installments starting May 7, 2025.
First Northwest Bancorp filed an 8-K to furnish an updated investor presentation dated January 31, 2024. The filing is made under Item 7.01 (Regulation FD Disclosure) and does not contain material changes to corporate structure or financial health.
📋 Key Facts
- The company furnished an updated Investor Presentation as Exhibit 99.1.
- Filing date: January 31, 2024.
- The presentation is intended for use with investors and analysts.
First Northwest Bancorp's subsidiary, First Fed Bank, has entered into a sale-leaseback agreement with Mountainseed Real Estate Services for up to six properties. The transaction involves selling the properties for approximately $14.67 million and immediately leasing them back under 15-year triple net leases.
🚩 Red Flags
- The company is evaluating the sale of securities currently in a loss position to offset gains from this transaction, which may indicate liquidity management needs or interest rate sensitivity issues.
- Increased fixed rent expense ($1.35M annually) replaces depreciation and potentially lower-yielding asset income.
📋 Key Facts
- Sale price: Up to $14.67 million in aggregate cash for up to six properties.
- Counterparty: Mountainseed Real Estate Services, LLC (a Georgia limited liability company).
- Transaction type: Sale-leaseback of branch locations in Clallam and Jefferson Counties, WA.
- Lease terms: 15-year initial term with one 15-year renewal option; triple net lease structure.
- Estimated aggregate annual rent: Approximately $1.35 million (pretax).
- Expected pre-tax gain on sale: Approximately $7.5 million.
- Anticipated closing: Late Q1 or early Q2 2024.
First Northwest Bancorp (FNWB) filed an 8-K to announce its quarterly earnings release for the period ending December 31, 2023 and declared a quarterly cash dividend.
📋 Key Facts
- Earnings release issued on January 25, 2024 for the quarter ended December 31, 2023.
- Board of Directors declared a quarterly cash dividend of $0.07 per share of common stock.
- Dividend payable date: February 23, 2024.
- Record date for dividend: February 9, 2024.