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olivLaw · US equity research

First Northwest Bancorp FNWB

Savings Institutions, Not Federally Chartered · SIC 6036 · Vertical: Savings Institutions, Not Federally Chartered (SIC 6036)

10.33USD+0.78% · 1 dayClose 04 Nov 2026

First Northwest Bancorp, the holding company for community bank First Fed in Washington State, had about 2.12 billion USD in total assets and 1.55 billion USD in customer deposits at June 30, 2026. Its relevance now lies in its effort to reduce reliance on commercial real estate lending and improve operating efficiency, at a time when its net interest margin has fallen from the prior quarter's level.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 04 Nov 2026, First Northwest Bancorp (FNWB) stock was 10.33 USD (+0.78% on the day), with market capitalisation 98.3 m USD, P/E 63.3 on diluted EPS of 0.16 USD over the last 12 months, dividend yield 1.36%, beta 0.39, 52-week range 8.51–12.17 USD. Latest reported quarter (Q2 2026): net income of 308.0 k USD (−91.6% YoY), diluted EPS 0.03 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
98.3 m USD
shares as of 30 Jul 2026
P/E (TTM)
63.3
Diluted EPS TTM 0.16 · TTM to 30 Jun 2026
E/P (TTM)
1.58%
TTM to 30 Jun 2026
Dividend yield
1.36%
DPS 12m 0.14
Beta (2y)
0.39
Volatility (1y) 25%
52-week range
8.5112.17

Price history

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Technical reading

RSI (14)
60.7
strong (55–70)
Bollinger (20, 2)
9.29 – 10.45
in the upper half of the band · %B 0.89 · band width 11.8%
SMA 50 / 200
10.21 / 10.24
mixed trend
MACD (12, 26, 9)
0.05 / -0.06
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month+4.9%−1.1%+6.0 pp—
3 months−7.0%−0.5%−6.6 pp—
6 months+3.3%+4.4%−1.1 pp—
Year to date+10.1%+12.3%−2.2 pp—
1 year+16.1%+13.5%+2.5 pp+33.3%
3 years−19.9%+76.4%−96.3 pp+49.7%
5 years−43.9%+63.7%−107.5 pp—
Max drawdown (1y)
−22.2%
22 Jan 2026 → 20 Mar 2026
Max drawdown (5y)
−70.4%
07 Feb 2022 → 25 Jun 2025
Compound annual growth (5y)
−10.9%
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q2 2026 · 30 Jun 2026

Revenue
unavailable USD
unavailable YoY
Net income
308.0 k USD
−91.6% YoY
Diluted EPS
0.03
−92.9% YoY
net / operating
unavailable / unavailable

Quarterly statements · USD

Fiscal yearQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Depreciation & amortisation346.0 k321.0 k330.0 k323.0 k ≈298.0 k ≈297.0 k318.0 k289.0 k ≈
Pre-tax income-3.2 m-2.5 m-10.2 m4.0 m-146.0 k915.0 k-314.0 k325.0 k
Income tax-1.2 m359.0 k-1.1 m297.0 k-948.0 k533.0 k-320.0 k17.0 k
Net income-2.0 m-2.8 m-9.0 m3.7 m802.0 k382.0 k6.0 k308.0 k
Diluted EPS-0.23-0.32 ≈-1.030.420.090.04 ≈0.000.03
Operating cash flow1.2 m ≈12.5 m-21.7 m4.0 m ≈4.7 m ≈10.3 m885.0 k1.5 m ≈
Dividends paid652.0 k ≈656.0 k649.0 k650.0 k ≈18.0 k ≈1.0 k00 ≈
Share repurchases1.0 m ≈000 ≈0 ≈0——

≈ derived quarter (cumulative difference / share-days average)

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Today's P/E sits at the 97 percentile of its own 29-quarter history (min 6.4, median 15.7, max 66.2; quarters with earnings only).

Fiscal years

Fiscal year20182019202020212022202320242025
Revenueunavailable229.0 k176.0 kunavailableunavailableunavailableunavailableunavailable
Revenue YoYunavailableunavailable−23.1%unavailableunavailableunavailableunavailableunavailable
Net income7.1 m9.0 m10.3 m15.4 m15.6 m2.3 m-6.6 m-4.2 m
Net income YoY+38.8%+26.9%+14.7%+49.1%+1.5%−85.4%−389.3%unavailable
Diluted EPS0.680.911.071.631.710.26-0.75-0.48
Diluted EPS YoY+47.8%+33.8%+17.6%+52.3%+4.9%−84.8%−388.5%unavailable
net %unavailable3,936.2%5,875.0%unavailableunavailableunavailableunavailableunavailable
Free cash flow10.5 m13.7 m11.4 m9.1 m13.0 m16.3 munavailableunavailable

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
unavailable USD
Financial debt
unavailable USD
Net debt
unavailable USD
Equity
157.3 m USD
Total assets
2.1 bn USD
Debt / equity
unavailable
Current ratio
unavailable
ROE
-2.7%
ROA
-0.2%
FCF margin
unavailable

Financial statements (source on every figure)

Revenue and net income (USD)

Income statement · USD

Net interest income
2023
61.4 m
2024
56.3 m
2025
57.3 m

SEC (XBRL)· 12 Mar 2026verified

Net fee income
2023
4.0 m
2024
12.6 m
2025
11.6 m

SEC (XBRL)· 12 Mar 2026verified

Non-interest expense
2023
61.5 m
2024
60.0 m
2025
67.1 m

SEC (XBRL)· 12 Mar 2026verified

Pre-tax income
2023
2.7 m
2024
-7.6 m
2025
-5.4 m

SEC (XBRL)· 12 Mar 2026verified

Net income
2023
2.3 m
2024
-6.6 m
2025
-4.2 m

SEC (XBRL)· 12 Mar 2026verified

Diluted EPS
2023
0.26
2024
-0.75
2025
-0.48

SEC (XBRL)· 12 Mar 2026verified

Dividend per share
2023
0.28
2024
0.28
2025
0.14

SEC (XBRL)· 12 Mar 2026verified

Balance sheet · USD

Loans
2023
1.6 bn
2024
1.7 bn
2025
1.6 bn

SEC (XBRL)· 12 Mar 2026verified

Total assets
2023
2.2 bn
2024
2.2 bn
2025
2.1 bn

SEC (XBRL)· 12 Mar 2026verified

Deposits
2023
1.7 bn
2024
1.7 bn
2025
1.6 bn

SEC (XBRL)· 12 Mar 2026verified

Long-term debt
2023
—
2024
—
2025
—

SEC (XBRL)· 15 Mar 2021verified

Total liabilities
2023
2.0 bn
2024
2.1 bn
2025
2.0 bn

SEC (XBRL)· 12 Mar 2026verified

Equity
2023
163.3 m
2024
153.9 m
2025
157.3 m

SEC (XBRL)· 12 Mar 2026verified

Cash flow · USD

Dividends paid
2023
2.7 m
2024
2.6 m
2025
1.3 m

SEC (XBRL)· 12 Mar 2026verified

Share repurchases
2023
1.1 m
2024
4.1 m
2025
0

SEC (XBRL)· 12 Mar 2026verified

Computed indicators

Growth

Revenue growth (YoY)
-23.1%
computed by olivLawFY 2020
Revenue CAGR 3Y
unavailable
input data missing
Revenue CAGR 5Y
unavailable
input data missing
Net income growth (YoY)
14.7%
computed by olivLawFY 2020
Net income CAGR 3Y
26.4%
computed by olivLawFY 2017 → FY 2020
Net income CAGR 5Y
unavailable
the base of the ratio is not positive
EPS growth (YoY)
17.6%
computed by olivLawFY 2020
EPS CAGR 3Y
32.5%
computed by olivLawFY 2017 → FY 2020
EPS CAGR 5Y
unavailable
the base of the ratio is not positive

Profitability

Net margin
unavailable
input data missing

Returns

ROE
1.0%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
ROA
0.1%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Payout ratio (EPS)
85.7%
computed by olivLawTTM to 30 Jun 2026

Market and valuation

Market capitalisation
98.3 m USD
computed by olivLawbalance sheet at 30 Jun 2026
Market cap / net income TTM
65.6x
computed by olivLawTTM to 30 Jun 2026
P/E (TTM)
63.3x
computed by olivLawTTM to 30 Jun 2026
Earnings yield
1.6%
computed by olivLawTTM to 30 Jun 2026
P/B
0.6x
computed by olivLawbalance sheet at 30 Jun 2026
P/S
unavailable
input data missing
Dividend yield
1.4%
computed by olivLawTTM to 30 Jun 2026
Shareholder yield (distributions)
0.0%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026

Banking

Net interest margin
2.7%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Cost-to-income
99.7%
computed by olivLawTTM to 30 Jun 2026
Loan-to-deposit
99.4%
computed by olivLawbalance sheet at 30 Jun 2026
NPL ratio
unavailable
input data missing
CET1 ratio
unavailable
input data missing
Cost of risk
unavailable
input data missing

32 indicators that do not apply to the sector.

Valuation

olivLaw classification

Unattractive profile

Score: 33 / 100

A scoring methodology on indicators and valuation, not investment advice.

score < 40

Closing price

10.33 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 98.3 m USD

Key indicators

Market capitalisation
98.3 m USD
computed by olivLawbalance sheet at 30 Jun 2026
P/E (TTM)
63.3x
computed by olivLawTTM to 30 Jun 2026
P/B
0.6x
computed by olivLawbalance sheet at 30 Jun 2026
ROE
1.0%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Net margin
unavailable
input data missing
Revenue growth (YoY)
-23.1%
computed by olivLawFY 2020
Dividend yield
1.4%
computed by olivLawTTM to 30 Jun 2026

Coverage and freshness

15/20 reporting lines present
Latest full fiscal year: 2020
Latest reported period: 30 Jun 2026
Latest balance sheet date: 30 Jun 2026
Share count (cover of the latest filing), as of: 30 Jul 2026
Source: SEC (XBRL)published 06 Aug 2026
verified 1694derived 118

Score by group

  • Balance sheet2
  • Valuation51
  • Quality18
  • Growth100
  • Returns5

Estimated value range

Low
7.94
USD per share
Mid
8.15
USD per share
High
8.36
USD per share
Price: 10.33 USD
The price is above the range
Potential to the central value: -21.1% (value / price − 1)
Margin of safety: -26.7% (1 − price / value)
Agreement between methods: low · 4 methods used · 3 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 1.84 – 21.12 USD.

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (USD per share)

— — Mid · ▏ Price

Valuation methods

  • Residual income13.43 – 14.03 (Mid 13.72)
  • Justified P/Bunavailable · insufficient data
  • Dividend discount (DDM)1.84 – 2.47 (Mid 2.11)
  • Peers: P/E2.45 – 2.69 (Mid 2.58)
    4 companies used · median multiple 15.8x · quartiles 15.0x – 16.5x
    BBT, ECBK, GCBC, RBKB
  • Peers: P/B16.57 – 21.12 (Mid 17.25)
    7 companies used · median multiple 1.0x · quartiles 1.0x – 1.3x
    BBT, ECBK, FBLA, FLG, FSBW, PBFS, RBKB
Multiple comparisons use the SIC vertical: Savings Institutions, Not Federally Chartered (SIC 6036)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Unattractive profile · Score 33/100

FactorValueScoreWeight used
ROE · Quality1.0%25 (vs peers)21%
ROA · Quality0.1%0 (on a fixed band)8%
Cost-to-income · Quality99.7%0 (on a fixed band)13%
Net interest margin · Quality2.7%47 (on a fixed band)8%
EPS CAGR 3Y · Growth32.5%100 (on a fixed band)10%
Revenue CAGR 3Y · Growthunavailableunavailable—
NPL ratio · Balance sheetunavailableunavailable—
Cost of risk · Balance sheetunavailableunavailable—
Loan-to-deposit · Balance sheet99.4%2 (on a fixed band)5%
P/B · Valuation0.6x88 (vs peers)13%
P/E (TTM) · Valuation63.3x14 (vs peers)13%
Dividend yield · Returns1.4%5 (on a fixed band)10%

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet· partial2/100 · 1/3 factors with a value
  • Growth· partial100/100 · 1/2 factors with a value
  • Quality18/100 · 4/4 factors with a value
  • Returns5/100 · 1/1 factors with a value
  • Valuation51/100 · 2/2 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

First Northwest Bancorp (FNWB). Latest full fiscal year: 2020; data up to 2026-06-30.

Figures computed from the financial statements: net interest income 57.3 m USD in 2025; YoY growth -23.1%; ROE 1.0%.

The estimated value range is 7.94–8.36 USD per share (median of 4 methods, agreement: low); assumptions are illustrative. Against the central value of 8.15 USD, the price of 10.33 USD leaves a potential of -21.1% (value / price − 1) and a margin of safety of -26.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

olivLaw score 33/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance, growth. Not investment advice.

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • EPS CAGR 3Y: 32.5%
  • P/B: 0.6x

What contradicts it

  • ROE: 1.0%
  • ROA: 0.1%
  • Cost-to-income: 99.7%
  • Loan-to-deposit: 99.4%
  • P/E (TTM): 63.3x
  • Dividend yield: 1.4%
  • The price is above the estimated value range
  • The valuation methods diverge

Not assessed (insufficient data or a ratio without meaning): Revenue CAGR 3Y, NPL ratio, Cost of risk.

Versus the vertical median

Savings Institutions, Not Federally Chartered (SIC 6036) · same industry (4-digit SIC) · compared with 8 companies

Multiples and returns vs the median

P/E
63.3x
vertical median 16.4x
above median (+285.5%)
EV/EBITDA
—
vertical median —
P/S
—
vertical median 68.1x
P/B
0.6x
vertical median 1.1x
below median (−42.3%)
ROE
1.0%
vertical median 7.0%
below median (−86.0%)
Net margin
—
vertical median 329.8%
EBIT margin
—
vertical median —
Revenue YoY
-23.1%
vertical median 4.7%
below median (−592.6%)
Net debt/EBITDA
—
vertical median —
Dividend yield
1.4%
vertical median 2.1%
below median (−34.7%)

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
FLGFlagstar Bank, National Association4.5 bn220.30.6%—+17.4%−10% / −61%
BBTBeacon Financial Corp2.6 bn16.48.4%533.6%−92.5%+22% / +50%
GCBCGreene County Bancorp, Inc.623.0 m15.215.9%—+11.1%+60% / +46%
PBFSPioneer Bancorp, Inc.467.0 m27.15.2%103.4%+5.8%+41% / +127%
FSBWFS Bancorp, Inc.330.5 m10.210.8%—+44.8%+9% / +47%
FBLAFB Bancorp, Inc.271.4 m—-0.1%-0.4%−3.8%+35% / unavailable
RBKBRhinebeck Bancorp, Inc.203.7 m14.47.3%329.8%−0.6%+67% / +189%
ECBKECB Bancorp, Inc.200.7 m16.76.6%1,868.7%+3.6%+32% / +90%
FNWBFirst Northwest Bancorp98.3 m63.31.0%—−23.1%+16% / −20%

1- and 3-year price returns: for FNWB from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Scenarios are not available. input data missing

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 06 Aug 2026; since then the company filed 8-K (29 Oct 2026 · results).

In brief

First Northwest Bancorp, the holding company for community bank First Fed in Washington State, had about 2.12 billion USD in total assets and 1.55 billion USD in customer deposits at June 30, 2026. Its relevance now lies in its effort to reduce reliance on commercial real estate lending and improve operating efficiency, at a time when its net interest margin has fallen from the prior quarter's level.

SWOT

Strengths

  • The bank has a community customer base and a history spanning more than a century in Washington, which supports customer relationships 1. Regulatory capital remains solid and capital ratios held steady in 2026 3.
  • The company has reduced costly borrowings such as FHLB advances and brokered deposits, which improves funding flexibility 3.
  • Customer deposits rose slightly in the second quarter of 2026, indicating a relatively stable funding base 3.

Weaknesses

  • The efficiency ratio remains very high, showing that operating costs absorb nearly all net interest and other income 3.
  • Profitability was very low in 2026, and legal and consulting costs have risen significantly 3.
  • Geographic concentration in Washington and a large commercial real estate portfolio expose the bank to regional risks 1.

Opportunities

  • If efficiency projects reduce costs, profitability could improve in the second half of 2026 and in 2027 3.
  • Expansion across the Puget Sound region and growth in higher-yielding commercial loans could support net interest income 1.
  • Winding down fund investments could free capital for core banking activity 12.

Threats

  • A regional recession tied to trade or the property market could increase nonperforming loans and credit losses 1.
  • Competition for deposits from internet banks and nonbank products could pressure funding costs 12.
  • Regulatory changes or added compliance costs could affect results, particularly after the 2023 bank failures 1.

Risks

  • Geographic concentrationhigh

    The bank's business is concentrated in Washington, and a local economic downturn could affect loan quality and collateral values 1.

  • Commercial real estate concentrationhigh

    Commercial and multi-family real estate loans represent a large share of the portfolio, and a deterioration in property markets could lead to losses 1.

  • Cost and access to fundingmedium

    If the bank could not attract enough deposits or obtain Federal Home Loan Bank funding, its liquidity could be affected 1.

  • Competition and technologymedium

    Larger competitors and fintech firms may invest more in technology, which could reduce the bank's ability to protect its market share 1.

  • Litigation and efficiency executionmedium

    Defense of ongoing legal matters has increased costs, and efficiency projects could face delays or unexpected expenses 3.

Investment thesis

What would need to be true (bull case)

  • If cost reduction and efficiency programs materialize, profitability could gradually recover in the second half of 2026 and in 2027 3.
  • The bank has a stable deposit base and solid regulatory capital, which could help it fund growth in higher-yielding commercial loans 31.
  • If recoveries on problem loans continue, provisions could stay low and support quarterly results 3.

What would break the thesis

  • A very high efficiency ratio and low profitability suggest the bank could struggle to justify its cost structure in the near term 3.
  • The net interest margin has declined and funding costs have risen, which could limit interest income if the trend continues 3.
  • Geographic and commercial real estate concentration exposes the bank to risks that could generate large losses in a regional recession 1.

What to watch

  • Trend in net interest margin and cost of depositsQ3 2026
  • Results from the first efficiency program savingsQ4 2026
  • Levels of nonperforming and classified loansQ3 2026
  • Timing of capital distributions from the Hero Fund investment2027

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 06 Aug 2026; since then the company filed 8-K (29 Oct 2026 · results).

The business

First Northwest is a bank holding company and financial holding company that conducts banking through its wholly owned subsidiary, First Fed 1. First Fed is a community-oriented commercial bank founded in 1923 in Port Angeles, Washington, serving individuals, small and medium-sized businesses and community organizations 12. Besides banking, the company holds limited partnership stakes in fintech ventures and in the Hero Fund, but its core activity remains lending and deposit-taking 12.

The main sources of income are net interest income, meaning the difference between interest earned on loans and investments and interest paid on deposits and borrowings, supplemented by noninterest income from fees and loan sales 1. Deposits are the primary funding source for lending 1. The company has said it aims to build a resilient core deposit base, improve operating efficiency and grow its organic loan portfolio 1.

The current strategy rests on three pillars: process and data improvement for efficiency, a relationship-based core deposit base and higher-quality loan growth, with a focus on higher-yielding commercial business loans 1. In the second quarter of 2026, management said the efficiency benefits should begin to be realized in late 2026 and over the course of 2027 3.

Segments

Real estate lending

Real estate loans make up most of the portfolio, with one-to-four family mortgages and commercial and multi-family loans dominating the balance sheet 1. The share of commercial and multi-family real estate loans was 42.5% of the portfolio at December 31, 2025 1, and in 2026 management said it is working to reduce reliance on commercial real estate lending 3.

Consumer and commercial lending

Auto and other consumer loans and commercial business loans grew in 2026, while commercial real estate balances declined 3. The bank has bought auto and manufactured home loans from third-party originators, a strategy through which it has expanded its consumer portfolio 1.

Deposits and funding

Customer deposits are the main funding source and rose slightly in the second quarter of 2026 3. The company has also relied on Federal Home Loan Bank advances, which fell to 265.0 million USD at June 30, 2026 3.

Market context

The bank's primary market is the North Olympic Peninsula and the Puget Sound region of Washington, with an economy tied to government, healthcare, education, tourism, marine services and technology, and in King County, which includes Seattle, to technology and manufacturing 1. Unemployment rose in 2025 across several counties in the bank's area, for example in Clallam County, where it reached 6.0% 1. The company said it plans to extend operations across the Puget Sound region, whose current market area holds about 3.0 million residents 1.

The deposit market is competitive, and internet banks and nonbank institutions have grown rapidly in recent years 1. The bank reported that brokered deposits fell sharply in 2026, while customer deposits stabilized 3.

Trends

  • Reducing reliance on commercial real estate lendingmixed

    Management is trying to rebalance the loan book to reduce concentration in commercial real estate loans, which draw heightened regulatory scrutiny 21. If this shift succeeds, it could lower concentration risk but might limit interest income growth in the short term 12.

  • Pressure on net interest marginheadwind

    The net interest margin declined in the second quarter of 2026, reflecting higher funding costs and the move of subordinated debt to a floating rate 3. If the pressure persists, it could weigh on the bank's profitability in the near term 3.

  • Operating efficiency initiativestailwind

    The company has launched efficiency projects, and management expects benefits to appear in late 2026 and 2027 3. If these projects reduce costs, they could support margins, although the efficiency ratio remains high 3.

  • Asset quality and provisionsmixed

    Nonperforming and classified loans declined in the first half of 2026, following payoffs and a legal settlement 31. Regional economic pressures remain a risk, however, and unemployment has risen in parts of the bank's area 1.

Competitive position

The bank competes with national, regional, community and digital banks, as well as credit unions, mortgage finance companies, brokerage firms and fintech companies 1. Competition for deposits is especially intense, and internet banks have grown quickly 1. The company acknowledges that many competitors have greater resources and can offer broader products and pricing 1.

Pressure also comes from low-cost nonbank firms and from stablecoin-type products that could replace traditional deposits 12. Management has emphasized that it aims to offset this through service quality and customer relationships, but it cannot guarantee that this will be sufficient 1.

  • Community and regional banks in Washington

    Compete directly for deposits and loans in the Olympic Peninsula and Puget Sound markets 1.

  • Internet banks

    Have grown rapidly and attract deposits through online offers, pressuring deposit costs 1.

  • Credit unions and mortgage finance companies

    Offer home and consumer loans in the same markets, often with different cost structures 1.

  • Fintech and nonbank companies

    Offer payments, transfers and alternatives to deposits, often with fewer regulatory constraints 12.

News & filings

In the press

The latest news item in our archive is from 17 Sept 2026; the newest SEC filing is from 29 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.

SEC filings

Sources

  1. [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / First Northwest Bancorp · 12 Mar 2026
  2. [2] Form 10-Q, quarter ended 2026-06-30 · SEC / First Northwest Bancorp · 06 Aug 2026
  3. [3] Form 8-K, results release (exhibit 99.1) · SEC / First Northwest Bancorp · 29 Jul 2026

Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.