{"id":751279,"date":"2023-04-26T07:19:30","date_gmt":"2023-04-26T11:19:30","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/first-northwest-bancorp-reports-first-quarter-2023-earnings\/"},"modified":"2023-04-26T07:19:30","modified_gmt":"2023-04-26T11:19:30","slug":"first-northwest-bancorp-reports-first-quarter-2023-earnings","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/first-northwest-bancorp-reports-first-quarter-2023-earnings\/","title":{"rendered":"First Northwest Bancorp Reports\u00a0First\u00a0Quarter 2023\u00a0Earnings"},"content":{"rendered":"
\n

PORT ANGELES, Wash., April 26, 2023 (GLOBE NEWSWIRE) — <\/p>\n

\n Matthew P. Deines, President and CEO, comments on financial results:<\/strong>\n <\/p>\n

“First Fed generated solid first quarter results despite the well-publicized challenges in the banking industry,” said Matthew P. Deines, President and CEO of First Northwest Bancorp. “Our granular deposit franchise and reputation as a trusted member of the communities we serve has proved a source of strength and stability. We are well-positioned to navigate the rapidly changing environment and enhance long-term shareholder value.”<\/p>\n

The Board of Directors of First Northwest Bancorp declared a quarterly cash dividend of\u00a0$0.07 per common share. The dividend will be payable on May 26, 2023, to shareholders of record as of the close of business on May 12, 2023.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n FINANCIAL HIGHLIGHTS<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 1Q 23<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 4Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1Q 23 Highlights<\/strong>\n <\/td>\n<\/tr>\n
\n FINANCIAL RESULTS (in millions)<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u25cf<\/td>\nDeposit growth year-to-date of $30.0 million<\/td>\n<\/tr>\n
Operating revenue (1)<\/td>\n\u00a0<\/td>\n$<\/td>\n18.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n22.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n17.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2013<\/td>\nRetail growth $29.3 million, or 2.0%<\/td>\n<\/tr>\n
Noninterest expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2013<\/td>\nBrokered growth $654,000, or 0.5%<\/td>\n<\/tr>\n
Pre-provision net income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u25cf<\/td>\nLoan growth year-to-date of $31.9 million,<\/td>\n<\/tr>\n
\n PER SHARE DATA<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nor 2%<\/td>\n<\/tr>\n
Basic and diluted earnings<\/td>\n\u00a0<\/td>\n$<\/td>\n0.39<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.66<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.30<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Book value<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16.57<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16.31<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17.77<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u25cf<\/td>\nDeposit insurance coverage update:<\/td>\n<\/tr>\n
Tangible book value *<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16.38<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16.13<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17.56<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2013<\/td>\nEstimated uninsured deposits totaling<\/td>\n<\/tr>\n
\n BALANCE SHEET (in millions)<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$271.3 million, or approximately 17%<\/td>\n<\/tr>\n
Total loans<\/td>\n\u00a0<\/td>\n$<\/td>\n1,579<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,548<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,386<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nof total deposits<\/td>\n<\/tr>\n
Total deposits<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,594<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,564<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,549<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n42% of uninsured in urban areas<\/td>\n<\/tr>\n
Total shareholders’ equity<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n160<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n158<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n178<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n58% of uninsured in rural areas<\/td>\n<\/tr>\n
\n ASSET QUALITY<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2013<\/td>\nEstimated collateralized deposits to total<\/td>\n<\/tr>\n
Net charge-off ratio<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.25<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.11<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.00<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\ndeposits of 7%<\/td>\n<\/tr>\n
Nonperforming assets to total assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.12<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.09<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.06<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2013<\/td>\nEstimated insured deposits to total<\/td>\n<\/tr>\n
Allowance for credit losses on loans<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\ndeposits of 76%<\/td>\n<\/tr>\n
to total loans<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.10<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.04<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.09<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Nonperforming loan coverage ratio<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n661<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n900<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,227<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u25cf<\/td>\nLiquidity:<\/td>\n<\/tr>\n
\n SELECTED RATIOS<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nIncreased on balance sheet liquidity<\/td>\n<\/tr>\n
Return on average assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.70<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.18<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.60<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nin response to recent bank failures.<\/td>\n<\/tr>\n
Return on average equity<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8.98<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15.26<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.01<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Return on average tangible equity *<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9.08<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15.45<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.09<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u25cf<\/td>\nAsset quality:<\/td>\n<\/tr>\n
Net interest margin<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.46<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.96<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.53<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nCredit metrics remain stable. Past due and<\/td>\n<\/tr>\n
Efficiency ratio<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n79.78<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n67.91<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n82.91<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nnonperforming balances remain low.<\/td>\n<\/tr>\n
Common equity tier 1 (CETI) ratio<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.34<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.40<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.67<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total risk-based capital ratio<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.36<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.42<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.73<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

(1)\u00a0 Net interest income before provision plus noninterest income
*\u00a0See reconciliation of Non-GAAP Financial Measures later in this release.<\/p>\n

\n First Northwest Bancorp<\/strong>
\n (Nasdaq: FNWB)<\/strong>\u00a0(“First Northwest” or “Company”) today reported quarterly net income of\u00a0$3.5 million\u00a0for the\u00a0first quarter of 2023, compared to\u00a0$6.1 million for the\u00a0fourth quarter of 2022, and\u00a0$2.8 million\u00a0for the first quarter of 2022. Basic and diluted earnings per share were $0.39\u00a0for the\u00a0first quarter of 2023, compared to $0.66\u00a0for the\u00a0fourth quarter of 2022, and\u00a0$0.30\u00a0for the first quarter of 2022. In the first quarter of 2023, the Company generated a return on average assets (“ROAA”) of 0.70%, a return on average equity (“ROAE”) of\u00a08.98%, and a return on average tangible common equity* of 9.08%. Results in the first quarter of 2023 were positively impacted by a recapture of provision for credit losses on unfunded commitments\u00a0and a reduction in noninterest expense.<\/p>\n

The Company implemented the Current Expected Credit Loss (\u201cCECL\u201d) model for estimating the allowance for losses on loans and other assets effective January 1, 2023. The initial recognition resulted in increases of $2.2 million to the Allowance for Credit Losses on Loans and $1.5 million to the Unfunded Commitment Liability. The tax-effected cumulative effect of this change in accounting estimate of $3.0\u00a0million was recorded in retained earnings. Subsequent adjustments in the allowance for credit losses estimate are recorded in net income. The CECL model attempts to predict future losses by relying on projected metrics, such as unemployment and national GDP, applied to current balances. We recorded a recapture of the provision for credit losses during the first quarter of 2023 primarily due to a $22.2 million reduction in unfunded commitments during the current quarter. We anticipate continued fluctuation in the provision for credit losses going forward as both projected metrics and balances change.<\/p>\n

\n Net Interest Income<\/strong>
\n
Total interest income decreased\u00a0$379,000 to\u00a0$23.3 million for the first quarter of 2023, compared to\u00a0$23.7 million in the previous quarter, and increased\u00a0$6.4 million from\u00a0$16.9 million in the first quarter of 2022. Interest income decreased in the current quarter due to a higher reduction in fees related to the prepayment of certain loans compared to the prior quarter in excess of the gains recorded from higher yields on earning assets. Interest and fees\u00a0on loans increased year-over-year, in part, as the Company’s banking subsidiary, First Fed Bank (“First Fed” or “Bank”), grew the loan portfolio through single-family, multi-family and commercial real estate lending as well as purchased auto and manufactured home loans. Loan yields have increased over the prior year due to higher rates on new originations as well as the repricing of variable rate loans tied to the Prime Rate or other indices.<\/p>\n

Total interest expense was\u00a0$7.0 million\u00a0for the first quarter of 2023, compared to\u00a0$4.7 million\u00a0in the\u00a0fourth quarter of 2022 and\u00a0$1.4 million\u00a0in the\u00a0first quarter a year ago. Current quarter interest expense was higher due to a\u00a050\u00a0basis point increase in the cost of deposits to 1.12%\u00a0at\u00a0March 31, 2023, from\u00a00.62%\u00a0at the prior quarter end.\u00a0The increase over the first quarter of 2022 was the result of a\u00a093\u00a0basis point increase in the cost of deposits from\u00a00.19%\u00a0one year prior along with higher volumes of short-term FHLB advances and certificates of deposit (“CDs”). A shift in the deposit mix from transaction and money market accounts to a higher volume of savings accounts and CDs, primarily promotional, resulted in higher costs of deposits.<\/p>\n

Net interest income\u00a0before provision for credit losses\u00a0for the\u00a0first quarter of 2023\u00a0decreased\u00a013.9%\u00a0to $16.3 million, compared to\u00a0$18.9 million for the preceding quarter, and increased\u00a05.3%\u00a0from the\u00a0first quarter one\u00a0year ago.<\/p>\n

The Company recorded a $500,000\u00a0recapture of provision for credit losses in the first quarter of 2023, reflecting a decrease in unfunded commitments during the quarter, primarily due to construction loan disbursements,\u00a0as well as improvements in the underlying assumptions driving anticipated loss rates within the CECL model adopted January 1, 2023. Specifically, the gross domestic product assumption\u00a0metric\u00a0improved since implementation at the beginning of 2023.\u00a0This compares to a loan loss provision\u00a0of\u00a0$285,000 for the preceding quarter and no provision for the first quarter of 2022, which were both estimated using the incurred loss method based on historical loss trends combined with qualitative adjustments.<\/p>\n

The net interest margin decreased to\u00a03.46% for the first quarter of 2023, from 3.96%\u00a0the prior quarter, and decreased\u00a07 basis points compared to the first quarter of 2022\u00a0of 3.53%. Decreases from both the prior quarter and the prior year are primarily due to higher funding costs for both deposits and borrowed funds.<\/p>\n

The yield on average earning assets of\u00a04.95%\u00a0for the first quarter of 2023, was flat compared to\u00a0the fourth quarter of 2022, and increased\u00a0109\u00a0basis points from\u00a03.86%\u00a0for the first quarter of 2022. Higher loan rates at origination and increased yields on variable-rate loans were offset by a decline in the recognition of fees related to the prepayment of certain loans during the fourth quarter.\u00a0The year-over-year increase was primarily due to higher average loan balances augmented by increases in yields, which were positively impacted by the rising rate environment and overall improvements in the mix of interest-earning assets.<\/p>\n

The cost of average interest-bearing liabilities increased\u00a0to\u00a01.81%\u00a0for the first quarter of 2023, compared to\u00a01.24% for the fourth quarter of 2022, and increased\u00a0from\u00a00.43%\u00a0for the first quarter of 2022.\u00a0Total cost of funds increased to\u00a01.53%\u00a0for the\u00a0first quarter of 2023 from\u00a01.02% in the prior quarter\u00a0and increased\u00a0from\u00a00.34%\u00a0for the first quarter of 2022. Current quarter increases were due to higher costs on interest-bearing deposits and advances in addition to an increase in average certificate of deposit balances.<\/p>\n

The increase over the same quarter last year was driven\u00a0by higher rates paid on deposits. The Company has attracted and retained\u00a0funding through the use of promotional products. The mix of retail deposit balances has shifted away from non-maturity accounts towards higher cost term certificate and savings products. Retail CDs represented 22.8%, 17.3%\u00a0and 11.7%\u00a0of retail deposits at March 31, 2023, December 31, 2022\u00a0and March 31, 2022, respectively.<\/p>\n\n\n\n\n\n\n\n\n\n\n
\n Selected Yields<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 1Q 23<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 4Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 3Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Loan yield<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5.16<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5.22<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.75<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.48<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.43<\/td>\n%<\/td>\n<\/tr>\n
Investment securities yield<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.93<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.71<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.21<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.96<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.57<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of interest-bearing deposits<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.37<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.78<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.41<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.26<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.24<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of deposits<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.12<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.62<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.32<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.20<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.19<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of borrowed funds<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.92<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.30<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.50<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.96<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.32<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net interest spread<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.14<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.72<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.72<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.65<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.43<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net interest margin<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.46<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.96<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.88<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.77<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.53<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n Noninterest Income<\/strong>
\n
Noninterest income declined 30.7% to\u00a0$2.3 million for the\u00a0first quarter of 2023 from\u00a0$3.4 million for the\u00a0fourth quarter of 2022\u00a0from the prior quarter due partly to the non-recurring BOLI death benefit payment recorded in the\u00a0fourth quarter of 2022.\u00a0Noninterest income declined slightly from the same quarter one year ago, with decreases in gain on sale of loans and gain\u00a0on sale investment securities. Saleable mortgage loan production continues to be hindered by reduced refinancing activity due to rising market rates on mortgage\u00a0loans and a lack of single-family home inventory compared to the prior year.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Noninterest Income<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
$ in thousands<\/td>\n\u00a0<\/td>\n\n 1Q 23<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 4Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 3Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Loan and deposit service fees<\/td>\n\u00a0<\/td>\n$<\/td>\n1,141<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,163<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,302<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,091<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,173<\/td>\n\u00a0<\/td>\n<\/tr>\n
Sold loan servicing fees and servicing right mark-to-market<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n493<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n202<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n206<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n27<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n432<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net gain on sale of loans<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n176<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n55<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n285<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n231<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n253<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net gain on sale of investment securities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(8<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n126<\/td>\n\u00a0<\/td>\n<\/tr>\n
Increase in cash surrender value of bank-owned life insurance<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n226<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n230<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n221<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n213<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n252<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income from death benefit on bank-owned life insurance, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,489<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n298<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n229<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n320<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n668<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n167<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total noninterest income<\/td>\n\u00a0<\/td>\n$<\/td>\n2,334<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n3,368<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,334<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,222<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,403<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n Noninterest Expense<\/strong>
\n
Noninterest expense totaled\u00a0$14.9 million for the first quarter of 2023, compared to\u00a0$15.1 million for the preceding quarter and\u00a0$14.8 million for the first quarter a year ago. Compensation and benefits was lower due to a decrease in medical insurance and payroll tax expense as well as lower commissions and incentives paid. The payroll tax expense was reduced in the first quarter of 2023 by a portion of the Employee Retention Credit\u00a0(“ERC”)\u00a0received in March 2023. These decreases were partially offset by an increase in advertising related to strategic deposit gathering initiatives and additional corporate sponsorships.\u00a0The increase over the\u00a0first quarter of 2022\u00a0reflects increases in data processing and occupancy expenses associated with building enhanced technological infrastructure, offset by the medical insurance and payroll tax refunds received and lower commissions and incentives paid in 2023.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Noninterest Expense<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
$ in thousands<\/td>\n\u00a0<\/td>\n\n 1Q 23<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 4Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 3Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Compensation and benefits<\/td>\n\u00a0<\/td>\n$<\/td>\n7,837<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n8,357<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n9,045<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n9,735<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n8,803<\/td>\n\u00a0<\/td>\n<\/tr>\n
Data processing<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,038<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,119<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,778<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,870<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,772<\/td>\n\u00a0<\/td>\n<\/tr>\n
Occupancy and equipment<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,209<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,300<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,499<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,432<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,167<\/td>\n\u00a0<\/td>\n<\/tr>\n
Supplies, postage, and telephone<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n355<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n333<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n322<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n408<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n313<\/td>\n\u00a0<\/td>\n<\/tr>\n
Regulatory assessments and state taxes<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n389<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n372<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n365<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n441<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n361<\/td>\n\u00a0<\/td>\n<\/tr>\n
Advertising<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,041<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n486<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n645<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,370<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n752<\/td>\n\u00a0<\/td>\n<\/tr>\n
Professional fees<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n806<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n762<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n695<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n629<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n559<\/td>\n\u00a0<\/td>\n<\/tr>\n
FDIC insurance premium<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n257<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n235<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n219<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n211<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n223<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n939<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,179<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n807<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n867<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n881<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total noninterest expense<\/td>\n\u00a0<\/td>\n$<\/td>\n14,871<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n15,143<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n15,375<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n16,963<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n14,831<\/td>\n\u00a0<\/td>\n<\/tr>\n
Efficiency ratio<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n79.78<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n67.91<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n74.86<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n87.15<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n82.91<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n Investment Securities<\/strong>
\n
Investment securities increased $2.5 million, or 0.8%, to\u00a0$329.1 million at March 31, 2023, compared to\u00a0$326.6 million three months earlier, and decreased\u00a0$48.6 million compared to\u00a0$377.7 million at March 31, 2022. The market value of the portfolio increased $4.8\u00a0million during the\u00a0first quarter of 2023, primarily driven by a decrease in long-term interest rates. At March 31, 2023, municipal bonds totaled $101.9\u00a0million and comprised the largest portion of the investment portfolio at 31.0%. Non-agency issued mortgage-backed securities were the second largest segment, totaling $93.0\u00a0million,\u00a0or 28.3%, of the portfolio at quarter end. The estimated average life of the securities portfolio was approximately\u00a08.1\u00a0years, compared to 8.2\u00a0years in the prior quarter and\u00a07.0\u00a0years in the first quarter of 2022. The effective duration of the portfolio was approximately 5.1 years, compared to 5.1\u00a0years in the prior quarter and 5.0\u00a0years at the end of the\u00a0first quarter of 2022.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Investment Securities<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
$ in thousands<\/td>\n\u00a0<\/td>\n\n 1Q 23<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 4Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 3Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Municipal bonds<\/td>\n\u00a0<\/td>\n$<\/td>\n101,910<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n98,050<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n96,130<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n104,048<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n110,248<\/td>\n\u00a0<\/td>\n<\/tr>\n
U.S. Treasury notes<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,390<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,364<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,355<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,420<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,450<\/td>\n\u00a0<\/td>\n<\/tr>\n
International agency issued bonds (Agency bonds)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,745<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,702<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,683<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,762<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,811<\/td>\n\u00a0<\/td>\n<\/tr>\n
Corporate issued debt securities (Corporate debt)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n55,117<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n55,499<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n56,165<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n57,977<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n59,904<\/td>\n\u00a0<\/td>\n<\/tr>\n
U.S. Small Business Administration securities (SBA)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,777<\/td>\n\u00a0<\/td>\n<\/tr>\n
Mortgage-backed securities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
U.S. government agency issued mortgage-backed securities (MBS agency)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n74,946<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n75,648<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n78,231<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n85,796<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n96,064<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-agency issued mortgage-backed securities (MBS non-agency)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n92,978<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n93,306<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n94,872<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n101,141<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n104,441<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n Loans and Unfunded Loan Commitments<\/strong>
\n
Net loans, excluding loans held for sale, increased $30.6 million, or 2.0%, to $1.56 billion at March 31, 2023, from\u00a0$1.53 billion at December 31, 2022, and increased $191.5 million, or 14.0%, from\u00a0$1.37 billion\u00a0one year ago. One-to-four family loans increased $11.0\u00a0million\u00a0during the current quarter as a result of $1.1\u00a0million in new amortizing loan originations and $18.1\u00a0million of residential construction loans that converted to permanent amortizing loans, partially offset by sales and payments received.\u00a0Multi-family loans increased $32.3\u00a0million during the current quarter. The increase was the result of\u00a0new originations totaling $9.2\u00a0million\u00a0and $9.9\u00a0million of construction loans converting into permanent amortizing loans. Construction loans decreased $32.4\u00a0million during the quarter, with $48.0\u00a0million converting\u00a0into fully amortizing loans, partially offset by draws on new and existing loans. Commercial business, automobile, and home equity loans increased $23.1 million, $12.0 million and $1.2 million, respectively, during the current quarter\u00a0compared to the previous quarter as originations and draws on existing commitments exceeded payoffs and scheduled payments. Commercial real estate loans decreased $16.0 million, with payoffs and scheduled payments in excess of the $20.0\u00a0million of construction loans that converted\u00a0into permanent amortizing loans.<\/p>\n

The Company originated\u00a0$5.8 million in residential mortgages during the\u00a0first quarter of 2023\u00a0and sold $5.4 million, with an average gross margin on sale of mortgage loans of approximately 1.99%. This production compares to residential mortgage originations of\u00a0$8.6 million in the preceding quarter with sales of $3.3 million, with an average gross margin of 2.19%. Higher market rates on mortgage\u00a0loans and a lack of single-family home inventory continued to hinder saleable mortgage loan production in the first quarter. New single-family residence construction loan commitments totaled\u00a0$4.9 million in the first quarter, compared to\u00a0$16.1 million in the preceding quarter.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Loans by Collateral and Unfunded Commitments<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
$ in thousands<\/td>\n\u00a0<\/td>\n\n 1Q 23<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 4Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 3Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
One-to-four family construction<\/td>\n\u00a0<\/td>\n$<\/td>\n65,770<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n63,021<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n58,038<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n60,848<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n70,091<\/td>\n\u00a0<\/td>\n<\/tr>\n
All other construction and land<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n95,769<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n130,588<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n157,527<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n152,024<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n137,611<\/td>\n\u00a0<\/td>\n<\/tr>\n
One-to-four family first mortgage<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n394,595<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n384,255<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n374,309<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n351,813<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n331,788<\/td>\n\u00a0<\/td>\n<\/tr>\n
One-to-four family junior liens<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,140<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,219<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,244<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,701<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,969<\/td>\n\u00a0<\/td>\n<\/tr>\n
One-to-four family revolving open-end<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n30,473<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n29,909<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n27,496<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n25,438<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20,897<\/td>\n\u00a0<\/td>\n<\/tr>\n
Commercial real estate, owner occupied:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Health care<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n23,311<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n23,463<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n23,909<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24,058<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24,235<\/td>\n\u00a0<\/td>\n<\/tr>\n
Office<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n22,246<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n22,583<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n23,002<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24,311<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n25,936<\/td>\n\u00a0<\/td>\n<\/tr>\n
Warehouse<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16,782<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20,411<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18,479<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21,144<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21,174<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n52,212<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n47,778<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n38,282<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n31,375<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n29,142<\/td>\n\u00a0<\/td>\n<\/tr>\n
Commercial real estate, non-owner occupied:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Office<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n58,711<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n59,216<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n60,655<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n62,971<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n61,522<\/td>\n\u00a0<\/td>\n<\/tr>\n
Retail<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n52,175<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n54,800<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n53,186<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n50,818<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n48,929<\/td>\n\u00a0<\/td>\n<\/tr>\n
Hospitality<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n45,978<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n46,349<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n44,359<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n44,845<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n53,633<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n93,207<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n89,047<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n98,386<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n96,597<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n79,585<\/td>\n\u00a0<\/td>\n<\/tr>\n
Multi-family residential<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n284,699<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n252,765<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n242,509<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n220,677<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n203,101<\/td>\n\u00a0<\/td>\n<\/tr>\n
Commercial business loans<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n80,825<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n73,963<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n69,626<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n69,888<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n52,848<\/td>\n\u00a0<\/td>\n<\/tr>\n
Commercial agriculture and fishing loans<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,829<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,847<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n938<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n525<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n539<\/td>\n\u00a0<\/td>\n<\/tr>\n
State and political subdivision obligations<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n439<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n439<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n472<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n472<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n472<\/td>\n\u00a0<\/td>\n<\/tr>\n
Consumer automobile loans<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n136,540<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n136,213<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n134,221<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n133,364<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n127,712<\/td>\n\u00a0<\/td>\n<\/tr>\n
Consumer loans secured by other assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n114,343<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n102,333<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n104,272<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n102,685<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n93,165<\/td>\n\u00a0<\/td>\n<\/tr>\n
Consumer loans unsecured<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n420<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n352<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n481<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n745<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n367<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total loans<\/td>\n\u00a0<\/td>\n$<\/td>\n1,579,464<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,547,551<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,537,391<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,477,299<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,385,716<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Unfunded loan commitments<\/td>\n\u00a0<\/td>\n$<\/td>\n203,014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n225,836<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n231,208<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n250,311<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n260,391<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n Deposits<\/strong>
\n
Total deposits increased $30.0 million, to\u00a0$1.59 billion at March 31, 2023, compared to\u00a0$1.56 billion at December 31, 2022, and increased $44.8 million, or 2.9%, compared to\u00a0$1.55 billion\u00a0one year ago. Increases in consumer CDs of $75.2\u00a0million,\u00a0business savings account balances of $29.8\u00a0million, business CD\u00a0balances of $12.3\u00a0million, consumer savings account balances of $11.4\u00a0million, and brokered CDs of $654,000, were offset by decreases in consumer money market account balances of $62.2\u00a0million, business demand account balances of $15.1\u00a0million, consumer demand account balances of $12.4\u00a0million, business money market account balances of $8.0\u00a0million,\u00a0and public fund CDs\u00a0of $1.9 million during the\u00a0first quarter. We believe decreases in certain categories were driven by customers seeking higher rates and additional diversification\u00a0over a variety of account types. The current rate environment has contributed to greater competition for deposits with more rate specials offered to attract new funds.<\/p>\n

Demand deposits decreased 9.4% compared to a year ago to $481.3\u00a0million at March 31, 2023, and represented 30.2% of total deposits; money market accounts decreased 30.8% compared to a year ago to $402.8\u00a0million, and represented 25.3% of total deposits; savings accounts increased 22.7% compared to a year ago to $242.1\u00a0million at March 31, 2023, and represented 15.2% of total deposits; and CDs increased 95.8%\u00a0compared to a year ago to $468.0\u00a0million at quarter-end, and represented 29.4%\u00a0of total deposits. Brokered CDs increased $68.8 million to $134.5\u00a0million\u00a0at March 31, 2023, from $65.7 million a year ago, accounting for 30.0% of the increase in CD balances.<\/p>\n

The Company estimates that approximately 17% of total deposits are uninsured. Consumer deposits make up 62% of total deposits with an average balance of approximately $24,000 per account. Collateralized public fund balances totaled\u00a0$115.3 million at\u00a0March 31, 2023. While the mix of deposits moved to higher cost product types, the Company did not experience any unusual deposit activity in the first quarter of 2023.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Deposits<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
$ in thousands<\/td>\n\u00a0<\/td>\n\n 1Q 23<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 4Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 3Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Noninterest-bearing demand deposits<\/td>\n\u00a0<\/td>\n$<\/td>\n292,119<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n315,083<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n342,808<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n336,311<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n326,289<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest-bearing demand deposits<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n189,187<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n193,558<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n192,504<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n192,114<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n204,949<\/td>\n\u00a0<\/td>\n<\/tr>\n
Money market accounts<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n402,760<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n473,009<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n519,018<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n587,747<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n581,804<\/td>\n\u00a0<\/td>\n<\/tr>\n
Savings accounts<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n242,117<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n200,920<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n196,780<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n195,029<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n197,351<\/td>\n\u00a0<\/td>\n<\/tr>\n
Certificates of deposit, retail<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n333,510<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n247,824<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n224,574<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n183,823<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n173,281<\/td>\n\u00a0<\/td>\n<\/tr>\n
Certificates of deposit, brokered<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n134,515<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n133,861<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n129,551<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n85,700<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n65,740<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total deposits<\/td>\n\u00a0<\/td>\n$<\/td>\n1,594,208<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,564,255<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,605,235<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,580,724<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,549,414<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Noninterest-bearing deposits to total deposits<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21<\/td>\n%<\/td>\n<\/tr>\n
Total loans to total deposits<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n99<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n99<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n96<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n93<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n89<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n Asset Quality<\/strong>
\n
Nonperforming loans were\u00a0$2.6 million at March 31, 2023, an increase of\u00a0$843,000 from\u00a0December 31, 2022, related to increased delinquencies in a single-family residential loan, Triad purchased manufactured home loans and\u00a0Splash unsecured consumer loans. The percentage of the allowance for credit losses on loans to nonperforming loans decreased to\u00a0661%\u00a0at March 31, 2023, from\u00a0900%\u00a0at December 31, 2022, and decreased from\u00a01227%\u00a0at March 31, 2022. Classified loans increased\u00a0$1.3 million to\u00a0$18.2 million at March 31, 2023, due to the downgrade of one\u00a0$537,000 single-family residential loan during the\u00a0first quarter along with delinquent Triad purchased manufactured home loans totaling $320,000 and Splash unsecured consumer loans totaling $438,000. The allowance for credit losses on loans as a percentage of total loans was\u00a01.10% at March 31, 2023, increasing from\u00a01.04% at the\u00a0prior quarter end and increasing from\u00a01.09% reported one year earlier.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n
$ in thousands<\/td>\n\u00a0<\/td>\n\n 1Q 23<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 4Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 3Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Allowance for credit losses on loans to total loans<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.10<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.04<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.06<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.07<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.09<\/td>\n%<\/td>\n<\/tr>\n
Allowance for credit losses on loans to nonperforming loans<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n661<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n900<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n463<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1269<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1227<\/td>\n\u00a0<\/td>\n<\/tr>\n
Nonperforming loans to total loans<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.17<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.12<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.22<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.08<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.09<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net charge-off ratio (annualized)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.25<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.11<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.06<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.03<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.00<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total nonperforming loans<\/td>\n\u00a0<\/td>\n$<\/td>\n2,633<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,790<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n3,517<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,241<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,233<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Reserve for unfunded commitments<\/td>\n\u00a0<\/td>\n$<\/td>\n1,336<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n325<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n331<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n358<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n368<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n Capital<\/strong>
\n
Total shareholders\u2019 equity increased to $160.3 million\u00a0at March 31, 2023, compared to\u00a0$158.3 million three months earlier, due to\u00a0$3.5 million of net income and an increase in the fair market value of the investment securities portfolio, net of taxes,\u00a0of\u00a0$3.7 million, partially offset by a $3.0 million decrease for the cumulative CECL adjustment,\u00a0a $1.4 million decrease in the fair market value of derivatives, net of taxes and the cost of repurchased shares. Bond values increased quarter-over-quarter\u00a0as the economic outlook on long-term rates fell, partially influenced by the recent bank failures.<\/p>\n

Tangible book value per common share*\u00a0was\u00a0$16.38\u00a0at March 31, 2023, compared to\u00a0$16.13\u00a0at December 31, 2022, and\u00a0$17.56\u00a0at March 31, 2022. Book value per common share\u00a0was\u00a0$16.57\u00a0at March 31, 2023, compared to\u00a0$16.31\u00a0at December 31, 2022, and\u00a0$17.77\u00a0at March 31, 2022.<\/p>\n

Capital levels for both the Company and its operating bank, First Fed, remain in excess of applicable regulatory requirements and the Bank was categorized as “well-capitalized” at March 31, 2023. Common Equity Tier 1 and Total Risk-Based Capital Ratios at March 31, 2023, were\u00a013.3% and\u00a014.4%, respectively.<\/p>\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 1Q 23<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 4Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 3Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1Q 22<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Equity to total assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.38<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.75<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.49<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8.13<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9.14<\/td>\n%<\/td>\n<\/tr>\n
Tangible common equity ratio *<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.30<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.67<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.40<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8.04<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9.04<\/td>\n\u00a0<\/td>\n<\/tr>\n
Capital ratios (First Fed Bank):<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Tier 1 leverage<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.41<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.41<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.50<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.41<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.61<\/td>\n\u00a0<\/td>\n<\/tr>\n
Common equity Tier 1 capital<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.34<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.40<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.13<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.21<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.67<\/td>\n\u00a0<\/td>\n<\/tr>\n
Tier 1 risk-based<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.34<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.40<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.13<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.21<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.67<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total risk-based<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.36<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.42<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.16<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.24<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.73<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n Share Repurchase Program and Cash Dividend<\/strong>
\n
First Northwest continued\u00a0to return capital to our shareholders through cash dividends and share repurchases during the first quarter of 2023. We repurchased\u00a044,441 shares of common stock under the Company’s October 2020 stock repurchase plan at an average price of\u00a0$14.07 per share for a total of\u00a0$627,000 during the quarter ended March 31, 2023, leaving 257,586 shares remaining under the plan. In addition, the Company paid cash dividends totaling\u00a0$671,000 in the first quarter of 2023.\u00a0<\/p>\n

____________<\/p>\n

*\u00a0See reconciliation of Non-GAAP Financial Measures later in this release.<\/p>\n

\n Awards\/Recognition <\/strong>\n <\/p>\n

The Company has received several accolades as a leader in the community.<\/p>\n

In April 2022, First Fed was recognized as a Top Corporate Citizen by the Puget Sound Business Journal. The Corporate Citizenship Awards honors local corporate philanthropists and companies making significant contributions in the region. The top 25 small, medium and large-sized companies were recognized in addition to nine other honorees last year. First Fed was ranked #3\u00a0in the medium-sized company category in 2022 and was ranked #4 in the same category in 2021.<\/p>\n

In June 2022, First Fed was named to the Middle Market Fast 50 List by the Puget Sound Business Journal. First Fed also made the Fast 50 list for 2020 and 2021, which recognizes the region’s fastest-growing middle market companies.<\/p>\n

Additionally, in June 2022\u00a0First Fed was named on the Puget Sound Business Journal\u2019s Best Workplaces list. First Fed has been recognized as one the top 100 workplaces in Washington, as voted\u00a0for two years in row by each company\u2019s own employees.<\/p>\n

In September 2022, the First Fed team was honored to bring home the Gold for Best Bank in the Best of the Northwest survey hosted by Bellingham Alive.<\/p>\n

In October 2022, First Fed was also recognized in the Best of the Peninsula surveys, winning Best Bank for both Clallam and Jefferson counties. The Bank was a finalist for Best Bank on Bainbridge Island and Central Kitsap.\u00a0Also, First Fed received Best Financial Advisor in Jefferson.<\/p>\n

\n About the Company<\/strong>\n <\/p>\n

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 12 full-service branches. First Fed\u2019s 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. In 2022, First Northwest made an investment in The Meriwether Group, LLC, a boutique investment banking and accelerator firm. Additionally, First Northwest focuses on strategic partnerships to provide modern financial services such as digital payments and marketplace lending. 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.<\/p>\n

\n Forward-Looking Statements<\/strong>\n <\/p>\n

\n Certain matters discussed in this press release may contain 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, perceived opportunities in the market, potential future credit experience, and statements regarding our mission and vision. These forward-looking statements are based upon current management expectations and may, therefore, involve risks and uncertainties. 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 or declines in the value of our investment portfolio;\u00a0changes in general economic conditions and conditions within the securities markets; legislative and regulatory changes; and other factors described in the Company<\/em>\u2019s latest Annual Report on Form 10-K and other filings with the Securities and Exchange Commission (“SEC”), which are available on our website at www.ourfirstfed.com and on the SEC<\/em>\u2019s website at <\/em>www.sec.gov<\/em>.<\/em><\/p>\n

\n 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. These risks could cause our actual results for\u00a02023\u00a0and beyond to differ materially from those expressed in any forward-looking statements by, or on behalf of, us and could negatively affect the Company<\/em>\u2019s operations and stock price performance.<\/em><\/p>\n

\n For More Information Contact:<\/strong>
\n
Matthew P. Deines, President and Chief Executive Officer
Geri Bullard, EVP and Chief Financial Officer
IRGroup@ourfirstfed.com
360-457-0461<\/p>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n FIRST NORTHWEST BANCORP AND SUBSIDIARY<\/strong>
\n
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, except share data) (Unaudited)<\/td>\n		\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nMarch 31,
2023<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\nDecember 31,
2022<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\nMarch 31,
2022<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\nThree
Month
Change<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\nOne
Year
Change<\/td>\n		\u00a0<\/td>\n<\/tr>\n
\n ASSETS<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
Cash and due from banks<\/td>\n\u00a0<\/td>\n$<\/td>\n17,844<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n17,104<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n16,271<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9.7<\/td>\n%<\/td>\n<\/tr>\n
Interest-earning deposits in banks<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n122,773<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n28,492<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n66,257<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n330.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n85.3<\/td>\n\u00a0<\/td>\n<\/tr>\n
Investment securities available for sale, at fair value<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n329,086<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n326,569<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n377,695<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-12.9<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loans held for sale<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n597<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,334<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-100.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-100.0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loans receivable (net of allowance for credit losses loans $17,396, $16,116, and $15,127)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,562,068<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,531,435<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,370,589<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Federal Home Loan Bank (FHLB) stock, at cost<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,602<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,681<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,122<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n33.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n92.1<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accrued interest receivable<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,205<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,743<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,696<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26.5<\/td>\n\u00a0<\/td>\n<\/tr>\n
Premises and equipment, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18,252<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18,089<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21,050<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-13.3<\/td>\n\u00a0<\/td>\n<\/tr>\n
Servicing rights on sold loans, at fair value<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,224<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,887<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,046<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.4<\/td>\n\u00a0<\/td>\n<\/tr>\n
Bank-owned life insurance, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n39,878<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n39,665<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n39,570<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.8<\/td>\n\u00a0<\/td>\n<\/tr>\n
Equity and partnership investments<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,392<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,289<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,777<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n281.0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Goodwill and other intangible assets, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,088<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,089<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,180<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-0.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-7.8<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deferred tax asset, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,211<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,091<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,809<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n144.6<\/td>\n\u00a0<\/td>\n<\/tr>\n
Prepaid expenses and other assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n25,471<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n28,339<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n22,886<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-10.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11.3<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total assets<\/td>\n\u00a0<\/td>\n$<\/td>\n2,172,094<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,042,070<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,944,282<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11.7<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n LIABILITIES AND SHAREHOLDERS’ EQUITY<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
Deposits<\/td>\n\u00a0<\/td>\n$<\/td>\n1,594,208<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,564,255<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,549,414<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.9<\/td>\n%<\/td>\n<\/tr>\n
Borrowings<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n379,377<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n285,358<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n184,250<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n32.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n105.9<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accrued interest payable<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n508<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n455<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,807.7<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accrued expenses and other liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35,255<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n32,344<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n30,691<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.9<\/td>\n\u00a0<\/td>\n<\/tr>\n
Advances from borrowers for taxes and insurance<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,410<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,376<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,138<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n75.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12.7<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,011,758<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,883,788<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,766,506<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.9<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Shareholders’ Equity<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Preferred stock, $0.01 par value, authorized 5,000,000 shares, no shares issued or outstanding<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nn\/a<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nn\/a<\/td>\n\u00a0<\/td>\n<\/tr>\n
Common stock, $0.01 par value, authorized 75,000,000 shares; issued and outstanding 9,674,055 at March 31, 2023; issued and outstanding 9,703,581 at December 31, 2022; and issued and outstanding 10,003,622 at March 31, 2022<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n97<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n97<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n100<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-3.0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Additional paid-in capital<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n95,333<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n95,508<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n96,473<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-0.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-1.2<\/td>\n\u00a0<\/td>\n<\/tr>\n
Retained earnings<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n114,139<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n114,424<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n105,546<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-0.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8.1<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accumulated other comprehensive loss, net of tax<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(38,108<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(40,543<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(15,153<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-151.5<\/td>\n\u00a0<\/td>\n<\/tr>\n
Unearned employee stock ownership plan (ESOP) shares<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7,749<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7,913<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(8,407<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.8<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total parent’s shareholders’ equity<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n163,712<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n161,573<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n178,559<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-8.3<\/td>\n\u00a0<\/td>\n<\/tr>\n
Noncontrolling interest in Quin Ventures, Inc.<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3,376<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3,291<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(783<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-2.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-331.2<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total shareholders’ equity<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n160,336<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n158,282<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n177,776<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-9.8<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities and shareholders’ equity<\/td>\n\u00a0<\/td>\n$<\/td>\n2,172,094<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,042,070<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,944,282<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11.7<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n FIRST NORTHWEST BANCORP AND SUBSIDIARY<\/strong>
\n
CONSOLIDATED STATEMENTS OF INCOME
(Dollars in thousands, except per share data) (Unaudited)<\/td>\n		\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nQuarter Ended<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nMarch 31,
2023<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\nDecember 31,
2022<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\nMarch 31,
2022<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\nThree
Month
Change<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\nOne
Year
Change<\/td>\n		\u00a0<\/td>\n<\/tr>\n
INTEREST INCOME<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest and fees on loans receivable<\/td>\n\u00a0<\/td>\n$<\/td>\n19,504<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n20,240<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n14,536<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-3.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n34.2<\/td>\n%<\/td>\n<\/tr>\n
Interest on investment securities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,182<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,059<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,275<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n39.9<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest on deposits in banks<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n404<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n173<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n38<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n133.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n963.2<\/td>\n\u00a0<\/td>\n<\/tr>\n
FHLB dividends<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n192<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n189<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n52<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n269.2<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total interest income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n23,282<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n23,661<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16,901<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-1.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n37.8<\/td>\n\u00a0<\/td>\n<\/tr>\n
INTEREST EXPENSE<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deposits<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,353<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,434<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n717<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n78.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n507.1<\/td>\n\u00a0<\/td>\n<\/tr>\n
Borrowings<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,624<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,297<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n698<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n275.9<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total interest expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,977<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,731<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,415<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n47.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n393.1<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net interest income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16,305<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18,930<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,486<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-13.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5.3<\/td>\n\u00a0<\/td>\n<\/tr>\n
(Recapture of) provision for credit losses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(500<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n285<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-275.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n100.0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net interest income after (recapture of) provision for credit losses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16,805<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18,645<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,486<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-9.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8.5<\/td>\n\u00a0<\/td>\n<\/tr>\n
NONINTEREST INCOME<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loan and deposit service fees<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,141<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,163<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,173<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-1.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-2.7<\/td>\n\u00a0<\/td>\n<\/tr>\n
Sold loan servicing fees and servicing right mark-to-market<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n493<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n202<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n432<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n144.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.1<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net gain on sale of loans<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n176<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n55<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n253<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n220.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-30.4<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net gain on sale of investment securities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n126<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nn\/a<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-100.0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Increase in cash surrender value of bank-owned life insurance<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n226<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n230<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n252<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-1.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-10.3<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income from death benefit on bank-owned life insurance, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,489<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-100.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nn\/a<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n298<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n229<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n167<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n30.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n78.4<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total noninterest income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,334<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,368<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,403<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-30.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-2.9<\/td>\n\u00a0<\/td>\n<\/tr>\n
NONINTEREST EXPENSE<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Compensation and benefits<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,837<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,357<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,803<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-6.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-11.0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Data processing<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,038<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,119<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,772<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-3.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15.0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Occupancy and equipment<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,209<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,300<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,167<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-7.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.6<\/td>\n\u00a0<\/td>\n<\/tr>\n
Supplies, postage, and telephone<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n355<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n333<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n313<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.4<\/td>\n\u00a0<\/td>\n<\/tr>\n
Regulatory assessments and state taxes<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n389<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n372<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n361<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.8<\/td>\n\u00a0<\/td>\n<\/tr>\n
Advertising<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,041<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n486<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n752<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n114.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n38.4<\/td>\n\u00a0<\/td>\n<\/tr>\n
Professional fees<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n806<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n762<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n559<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n44.2<\/td>\n\u00a0<\/td>\n<\/tr>\n
FDIC insurance premium<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n257<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n235<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n223<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15.2<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n939<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,179<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n881<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-20.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.6<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total noninterest expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,871<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,143<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,831<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-1.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.3<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income before provision for income taxes<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,268<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,870<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,058<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-37.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n39.6<\/td>\n\u00a0<\/td>\n<\/tr>\n
Provision for income taxes<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n825<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,008<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n554<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-18.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n48.9<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,443<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,862<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,504<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-41.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n37.5<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net loss attributable to noncontrolling interest in Quin Ventures, Inc.<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n85<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n198<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n302<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-57.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-71.9<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income attributable to parent<\/td>\n\u00a0<\/td>\n$<\/td>\n3,528<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n6,060<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,806<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-41.8<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n25.7<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic and diluted earnings per common share<\/td>\n\u00a0<\/td>\n$<\/td>\n0.39<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.66<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.30<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-40.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n30.0<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n FIRST NORTHWEST BANCORP AND SUBSIDIARY<\/strong>
\n
Selected Financial Ratios and Other Data
(Dollars in thousands, except per share data) (Unaudited)<\/td>\n		\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nAs of or For the Quarter Ended<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nMarch 31,
2023<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\nDecember 31,
2022<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\nSeptember 30,
2022<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\nJune 30,
2022<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\nMarch 31,
2022<\/td>\n		\u00a0<\/td>\n<\/tr>\n
\n Performance ratios: (1)<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
Return on average assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.70<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.18<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.85<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.51<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.60<\/td>\n%<\/td>\n<\/tr>\n
Return on average equity<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8.98<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15.26<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.12<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5.75<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.01<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average interest rate spread<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.14<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.72<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.72<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.65<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.43<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net interest margin (2)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.46<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.96<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.88<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.77<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.53<\/td>\n\u00a0<\/td>\n<\/tr>\n
Efficiency ratio (3)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n79.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n67.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n74.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n87.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n82.9<\/td>\n\u00a0<\/td>\n<\/tr>\n
Equity to total assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.38<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.75<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.49<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8.13<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9.14<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average interest-earning assets to average interest-bearing liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n122.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n124.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n128.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n130.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n132.3<\/td>\n\u00a0<\/td>\n<\/tr>\n
Book value per common share<\/td>\n\u00a0<\/td>\n$<\/td>\n16.57<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n16.31<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n15.69<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n16.60<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n17.77<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Tangible performance ratios:<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
Tangible assets (4)<\/td>\n\u00a0<\/td>\n$<\/td>\n2,170,202<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,040,267<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,089,454<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,029,702<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,942,151<\/td>\n\u00a0<\/td>\n<\/tr>\n
Tangible common equity (4)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n158,444<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n156,479<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n154,612<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n163,224<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n175,645<\/td>\n\u00a0<\/td>\n<\/tr>\n
Tangible common equity ratio (4)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.30<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.67<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.40<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8.04<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9.04<\/td>\n%<\/td>\n<\/tr>\n
Return on tangible common equity (4)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9.08<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15.45<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.23<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5.82<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.09<\/td>\n\u00a0<\/td>\n<\/tr>\n
Tangible book value per common share (4)<\/td>\n\u00a0<\/td>\n$<\/td>\n16.38<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n16.13<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n15.50<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n16.40<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n17.56<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Asset quality ratios:<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
Nonperforming assets to total assets at end of period (5)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.12<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.09<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.17<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.06<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.06<\/td>\n%<\/td>\n<\/tr>\n
Nonperforming loans to total loans (6)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.17<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.12<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.22<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.08<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.09<\/td>\n\u00a0<\/td>\n<\/tr>\n
Allowance for credit losses on loans to nonperforming loans (6)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n660.69<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n900.34<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n462.70<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1268.90<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1226.85<\/td>\n\u00a0<\/td>\n<\/tr>\n
Allowance for credit losses on loans to total loans<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.10<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.04<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.06<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.07<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.09<\/td>\n\u00a0<\/td>\n<\/tr>\n
Annualized net charge-offs (recoveries) to average outstanding loans<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.25<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.11<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.06<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.03<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.00<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Capital ratios (First Fed Bank):<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
Tier 1 leverage<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.6<\/td>\n%<\/td>\n<\/tr>\n
Common equity Tier 1 capital<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.7<\/td>\n\u00a0<\/td>\n<\/tr>\n
Tier 1 risk-based<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13.7<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total risk-based<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.7<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Other Information:<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
Average total assets<\/td>\n\u00a0<\/td>\n$<\/td>\n2,050,210<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,039,016<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,996,765<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,963,665<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,899,717<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average total loans<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,552,299<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,554,276<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,500,508<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,455,038<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,345,279<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average interest-earning assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,909,271<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,895,799<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,859,396<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,836,202<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,777,704<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average noninterest-bearing deposits<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n294,235<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n326,450<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n342,944<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n344,827<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n328,304<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average interest-bearing deposits<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,288,429<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,243,185<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,224,548<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,223,888<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,221,323<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average interest-bearing liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,559,983<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,519,106<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,446,428<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,412,327<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,343,216<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average equity<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n159,319<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n157,590<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n168,264<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n173,584<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n189,455<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average shares — basic<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,911,294<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,069,493<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,093,821<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,094,894<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,130,168<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average shares — diluted<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,939,601<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,106,453<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,138,123<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,166,131<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,225,368<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n
(1<\/td>\n)<\/td>\nPerformance ratios are annualized, where appropriate.<\/td>\n<\/tr>\n
(2<\/td>\n)<\/td>\nNet interest income divided by average interest-earning assets.<\/td>\n<\/tr>\n
(3<\/td>\n)<\/td>\nTotal noninterest expense as a percentage of net interest income and total other noninterest income.<\/td>\n<\/tr>\n
(4<\/td>\n)<\/td>\nSee reconciliation of Non-GAAP Financial Measures later in this release.<\/td>\n<\/tr>\n
(5<\/td>\n)<\/td>\nNonperforming assets consists of nonperforming loans (which include nonaccruing loans and accruing loans more than 90 days past due), real estate owned and repossessed assets.<\/td>\n<\/tr>\n
(6<\/td>\n)<\/td>\nNonperforming loans consists of nonaccruing loans and accruing loans more than 90 days past due.<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n FIRST NORTHWEST BANCORP AND SUBSIDIARY<\/strong>
\n
ADDITIONAL INFORMATION
(Dollars in thousands) (Unaudited)<\/td>\n		\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Selected loan detail:<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nMarch 31,
2023<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\nDecember 31,
2022<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\nMarch 31,
2022<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\nThree
Month
Change<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\nOne
Year
Change<\/td>\n		\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n(In thousands)<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Commercial business loans breakout<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
PPP loans<\/td>\n\u00a0<\/td>\n$<\/td>\n72<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n86<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n6,992<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(14<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(6,920<\/td>\n)<\/td>\n<\/tr>\n
Secured lines of credit<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n30,723<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,279<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,988<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,444<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n19,735<\/td>\n\u00a0<\/td>\n<\/tr>\n
Unsecured lines of credit<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n588<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,276<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,300<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(688<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,712<\/td>\n)<\/td>\n<\/tr>\n
SBA loans<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,805<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,056<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,349<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n749<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,456<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other commercial business loans<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n59,798<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n52,230<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n29,150<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,568<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n30,648<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total commercial business loans<\/td>\n\u00a0<\/td>\n$<\/td>\n99,986<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n76,927<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n53,779<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n23,059<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n46,207<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Auto and other consumer loans breakout<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
Triad Manufactured Home loans<\/td>\n\u00a0<\/td>\n$<\/td>\n102,424<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n89,011<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n88,563<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n13,413<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n13,861<\/td>\n\u00a0<\/td>\n<\/tr>\n
Woodside auto loans<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n123,337<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n122,961<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n108,106<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n376<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,231<\/td>\n\u00a0<\/td>\n<\/tr>\n
First Help auto loans<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,281<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,084<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,215<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,197<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(934<\/td>\n)<\/td>\n<\/tr>\n
Other auto loans<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,350<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,182<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,379<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(832<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(5,029<\/td>\n)<\/td>\n<\/tr>\n
Other consumer loans<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,910<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13,675<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,045<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,765<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,865<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total auto and other consumer loans<\/td>\n\u00a0<\/td>\n$<\/td>\n251,302<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n238,913<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n221,308<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n12,389<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n29,994<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Construction and land loans breakout<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
1-4 Family construction<\/td>\n\u00a0<\/td>\n$<\/td>\n87,269<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n77,138<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n70,827<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n10,131<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n16,442<\/td>\n\u00a0<\/td>\n<\/tr>\n
Multifamily construction<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n51,788<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n76,345<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n83,206<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(24,557<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(31,418<\/td>\n)<\/td>\n<\/tr>\n
Acquisition-renovation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,096<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n19,247<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n31,066<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(12,151<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(23,970<\/td>\n)<\/td>\n<\/tr>\n
Nonresidential construction<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,909<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,218<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,712<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,309<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3,803<\/td>\n)<\/td>\n<\/tr>\n
Land and development<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,600<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,698<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,045<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3,098<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3,445<\/td>\n)<\/td>\n<\/tr>\n
Total construction and land loans<\/td>\n\u00a0<\/td>\n$<\/td>\n161,662<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n193,646<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n207,856<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(31,984<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(46,194<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n FIRST NORTHWEST BANCORP AND SUBSIDIARY<\/strong>
\n
ADDITIONAL INFORMATION
(Dollars in thousands) (Unaudited)<\/p>\n

\n Non-GAAP Financial Measures<\/strong>
\n
This press release contains financial measures that are not defined in generally accepted accounting principles (“GAAP”). Non-GAAP measures are presented where management believes the information will help investors understand\u00a0the Company\u2019s 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.\u00a0Reconciliations of the GAAP and non-GAAP measures are presented below.<\/p>\n

\n Calculations Based on Tangible Common Equity:<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\nMarch 31,
2023<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\nDecember 31,
2022<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\nSeptember 30,
2022<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\nJune 30,
2022<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\nMarch 31,
2022<\/td>\n		\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n(Dollars in thousands, except per share data)<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total shareholders’ equity<\/td>\n\u00a0<\/td>\n$<\/td>\n160,336<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n158,282<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n156,599<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n165,154<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n177,776<\/td>\n\u00a0<\/td>\n<\/tr>\n
Less: Goodwill and other intangible assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,088<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,089<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,173<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,176<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,180<\/td>\n\u00a0<\/td>\n<\/tr>\n
Disallowed non-mortgage loan servicing rights<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n804<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n714<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n814<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n754<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n951<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total tangible common equity<\/td>\n\u00a0<\/td>\n$<\/td>\n158,444<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n156,479<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n154,612<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n163,224<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n175,645<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total assets<\/td>\n\u00a0<\/td>\n$<\/td>\n2,172,094<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,042,070<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,091,441<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,031,632<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,944,282<\/td>\n\u00a0<\/td>\n<\/tr>\n
Less: Goodwill and other intangible assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,088<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,089<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,173<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,176<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,180<\/td>\n\u00a0<\/td>\n<\/tr>\n
Disallowed non-mortgage loan servicing rights<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n804<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n714<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n814<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n754<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n951<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total tangible assets<\/td>\n\u00a0<\/td>\n$<\/td>\n2,170,202<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,040,267<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,089,454<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,029,702<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,942,151<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average shareholders’ equity<\/td>\n\u00a0<\/td>\n$<\/td>\n159,319<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n157,590<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n168,264<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n173,584<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n189,455<\/td>\n\u00a0<\/td>\n<\/tr>\n
Less: Average goodwill and other intangible assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,089<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,171<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,175<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,179<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,182<\/td>\n\u00a0<\/td>\n<\/tr>\n
Average disallowed non-mortgage loan servicing rights<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n715<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n813<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n755<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n949<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,381<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total average tangible common equity<\/td>\n\u00a0<\/td>\n$<\/td>\n157,515<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n155,606<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n166,334<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n171,456<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n186,892<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Tangible common equity ratio (1)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.30<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.67<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.40<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8.04<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9.04<\/td>\n%<\/td>\n<\/tr>\n
Net income<\/td>\n\u00a0<\/td>\n$<\/td>\n3,528<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n6,060<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n4,291<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,488<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,806<\/td>\n\u00a0<\/td>\n<\/tr>\n
Return on tangible common equity (1)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9.08<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15.45<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.23<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5.82<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.09<\/td>\n%<\/td>\n<\/tr>\n
Common shares outstanding<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,674,055<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,703,581<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,978,041<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,950,172<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,003,622<\/td>\n\u00a0<\/td>\n<\/tr>\n
Tangible book value per common share (1)<\/td>\n\u00a0<\/td>\n$<\/td>\n16.38<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n16.13<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n15.50<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n16.40<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n17.56<\/td>\n\u00a0<\/td>\n<\/tr>\n
GAAP Ratios:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Equity to total assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.38<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.75<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.49<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8.13<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9.14<\/td>\n%<\/td>\n<\/tr>\n
Return on average equity<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8.98<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15.26<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10.12<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5.75<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.01<\/td>\n%<\/td>\n<\/tr>\n
Book value per common share<\/td>\n\u00a0<\/td>\n$<\/td>\n16.57<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n16.31<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n15.69<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n16.60<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n17.77<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n Non-GAAP Financial Measures Footnote<\/strong>\n <\/p>\n\n\n
(1<\/td>\n)<\/td>\nWe believe these non-GAAP metrics provide an important measure with which to analyze and evaluate financial condition and capital strength. In addition, we believe that 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.<\/td>\n<\/tr>\n<\/table>\n

\u00a0<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

PORT ANGELES, Wash., April 26, 2023 (GLOBE NEWSWIRE) — Matthew P. Deines, President and CEO, comments on financial results: “First Fed generated solid first quarter results despite the well-publicized challenges in the banking industry,” said Matthew P. Deines, President and CEO of First Northwest Bancorp. “Our granular deposit franchise and reputation as a trusted member of the communities we serve has proved a source of strength and stability. We are well-positioned to navigate the rapidly changing environment and enhance long-term shareholder value.” The Board of Directors of First Northwest Bancorp declared a quarterly cash dividend of\u00a0$0.07 per common share. The dividend will be payable on May 26, 2023, to shareholders of record as of the close of business on May … <\/p>\n

Continue reading “First Northwest Bancorp Reports\u00a0First\u00a0Quarter 2023\u00a0Earnings”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-751279","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nFirst Northwest Bancorp Reports\u00a0First\u00a0Quarter 2023\u00a0Earnings - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/first-northwest-bancorp-reports-first-quarter-2023-earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Northwest Bancorp Reports\u00a0First\u00a0Quarter 2023\u00a0Earnings - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PORT ANGELES, Wash., April 26, 2023 (GLOBE NEWSWIRE) — Matthew P. Deines, President and CEO, comments on financial results: “First Fed generated solid first quarter results despite the well-publicized challenges in the banking industry,” said Matthew P. Deines, President and CEO of First Northwest Bancorp. “Our granular deposit franchise and reputation as a trusted member of the communities we serve has proved a source of strength and stability. We are well-positioned to navigate the rapidly changing environment and enhance long-term shareholder value.” The Board of Directors of First Northwest Bancorp declared a quarterly cash dividend of\u00a0$0.07 per common share. The dividend will be payable on May 26, 2023, to shareholders of record as of the close of business on May … Continue reading "First Northwest Bancorp Reports\u00a0First\u00a0Quarter 2023\u00a0Earnings"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/first-northwest-bancorp-reports-first-quarter-2023-earnings\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-26T11:19:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgyNTczNiM1NTU3NjM3IzIwMTE0MDg=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"24 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-northwest-bancorp-reports-first-quarter-2023-earnings\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-northwest-bancorp-reports-first-quarter-2023-earnings\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"First Northwest Bancorp Reports\u00a0First\u00a0Quarter 2023\u00a0Earnings\",\"datePublished\":\"2023-04-26T11:19:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-northwest-bancorp-reports-first-quarter-2023-earnings\\\/\"},\"wordCount\":4762,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-northwest-bancorp-reports-first-quarter-2023-earnings\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODgyNTczNiM1NTU3NjM3IzIwMTE0MDg=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-northwest-bancorp-reports-first-quarter-2023-earnings\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-northwest-bancorp-reports-first-quarter-2023-earnings\\\/\",\"name\":\"First Northwest Bancorp Reports\u00a0First\u00a0Quarter 2023\u00a0Earnings - Market Newsdesk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-northwest-bancorp-reports-first-quarter-2023-earnings\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-northwest-bancorp-reports-first-quarter-2023-earnings\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODgyNTczNiM1NTU3NjM3IzIwMTE0MDg=\",\"datePublished\":\"2023-04-26T11:19:30+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-northwest-bancorp-reports-first-quarter-2023-earnings\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-northwest-bancorp-reports-first-quarter-2023-earnings\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-northwest-bancorp-reports-first-quarter-2023-earnings\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODgyNTczNiM1NTU3NjM3IzIwMTE0MDg=\",\"contentUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODgyNTczNiM1NTU3NjM3IzIwMTE0MDg=\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-northwest-bancorp-reports-first-quarter-2023-earnings\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"First Northwest Bancorp Reports\u00a0First\u00a0Quarter 2023\u00a0Earnings\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\",\"name\":\"Market Newsdesk\",\"description\":\"Latest Business News in Real Time\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\",\"name\":\"Newsdesk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"caption\":\"Newsdesk\"},\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/author\\\/newsdesk\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"First Northwest Bancorp Reports\u00a0First\u00a0Quarter 2023\u00a0Earnings - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/first-northwest-bancorp-reports-first-quarter-2023-earnings\/","og_locale":"en_US","og_type":"article","og_title":"First Northwest Bancorp Reports\u00a0First\u00a0Quarter 2023\u00a0Earnings - Market Newsdesk","og_description":"PORT ANGELES, Wash., April 26, 2023 (GLOBE NEWSWIRE) — Matthew P. Deines, President and CEO, comments on financial results: “First Fed generated solid first quarter results despite the well-publicized challenges in the banking industry,” said Matthew P. Deines, President and CEO of First Northwest Bancorp. “Our granular deposit franchise and reputation as a trusted member of the communities we serve has proved a source of strength and stability. We are well-positioned to navigate the rapidly changing environment and enhance long-term shareholder value.” The Board of Directors of First Northwest Bancorp declared a quarterly cash dividend of\u00a0$0.07 per common share. The dividend will be payable on May 26, 2023, to shareholders of record as of the close of business on May … Continue reading \"First Northwest Bancorp Reports\u00a0First\u00a0Quarter 2023\u00a0Earnings\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/first-northwest-bancorp-reports-first-quarter-2023-earnings\/","og_site_name":"Market Newsdesk","article_published_time":"2023-04-26T11:19:30+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgyNTczNiM1NTU3NjM3IzIwMTE0MDg=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"24 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/first-northwest-bancorp-reports-first-quarter-2023-earnings\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/first-northwest-bancorp-reports-first-quarter-2023-earnings\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"First Northwest Bancorp Reports\u00a0First\u00a0Quarter 2023\u00a0Earnings","datePublished":"2023-04-26T11:19:30+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/first-northwest-bancorp-reports-first-quarter-2023-earnings\/"},"wordCount":4762,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/first-northwest-bancorp-reports-first-quarter-2023-earnings\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgyNTczNiM1NTU3NjM3IzIwMTE0MDg=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/first-northwest-bancorp-reports-first-quarter-2023-earnings\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/first-northwest-bancorp-reports-first-quarter-2023-earnings\/","name":"First Northwest Bancorp Reports\u00a0First\u00a0Quarter 2023\u00a0Earnings - Market Newsdesk","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/first-northwest-bancorp-reports-first-quarter-2023-earnings\/#primaryimage"},"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/first-northwest-bancorp-reports-first-quarter-2023-earnings\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgyNTczNiM1NTU3NjM3IzIwMTE0MDg=","datePublished":"2023-04-26T11:19:30+00:00","author":{"@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"breadcrumb":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/first-northwest-bancorp-reports-first-quarter-2023-earnings\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.marketnewsdesk.com\/index.php\/first-northwest-bancorp-reports-first-quarter-2023-earnings\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/first-northwest-bancorp-reports-first-quarter-2023-earnings\/#primaryimage","url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgyNTczNiM1NTU3NjM3IzIwMTE0MDg=","contentUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgyNTczNiM1NTU3NjM3IzIwMTE0MDg="},{"@type":"BreadcrumbList","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/first-northwest-bancorp-reports-first-quarter-2023-earnings\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.marketnewsdesk.com\/"},{"@type":"ListItem","position":2,"name":"First Northwest Bancorp Reports\u00a0First\u00a0Quarter 2023\u00a0Earnings"}]},{"@type":"WebSite","@id":"https:\/\/www.marketnewsdesk.com\/#website","url":"https:\/\/www.marketnewsdesk.com\/","name":"Market Newsdesk","description":"Latest Business News in Real Time","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.marketnewsdesk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979","name":"Newsdesk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","caption":"Newsdesk"},"url":"https:\/\/www.marketnewsdesk.com\/index.php\/author\/newsdesk\/"}]}},"_links":{"self":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/751279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/comments?post=751279"}],"version-history":[{"count":0,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/751279\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/media?parent=751279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/categories?post=751279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/tags?post=751279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}