First Northwest Bancorp
- Open
- 12.19
- Day high
- 12.27
- Day low
- 12.01
- Prev close
- 12.17
- Volume
- 21K
- Mkt cap
- $116M
- P/E (TTM)
- 22.1
- EPS (TTM)
- $0.55
- P/B
- 0.7
- P/S
- 1.1
- Yield
- —
- Per share
- —
First Northwest Bancorp (FNWB) is a Financial Services company listed on NASDAQ. The stock is up 55% over the past year.
First Northwest Bancorp (FNWB) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
FNWB earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 29, 2026 | $0.03 | $0.00 | -97.7% | $16M | -2.1% |
| Mar 12, 2026 | — | $0.04 | — | $18M | — |
| Jul 24, 2025 | $0.09 | $0.42 | +366.7% | $14M | -15.0% |
| Apr 24, 2025 | $0.12 | $0.17 | +41.7% | $18M | +7.1% |
| Jan 29, 2025 | $0.06 | $-0.32 | -633.3% | $15M | -7.8% |
| Jul 25, 2024 | $0.08 | $0.16 | +100.0% | $14M | -20.1% |
| Apr 25, 2024 | $0.12 | $0.04 | -66.7% | $16M | -2.3% |
| Feb 27, 2024 | $0.12 | $-0.62 | -615.4% | $23M | — |
| Oct 26, 2023 | $0.28 | $0.28 | +0.0% | $18M | -3.5% |
| Jul 27, 2023 | $0.26 | $0.20 | -23.1% | $18M | -3.3% |
| Mar 17, 2023 | — | $0.67 | — | $27M | — |
| Oct 26, 2022 | $0.43 | $0.47 | +9.3% | $21M | -3.0% |
FNWB insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 9, 2026 | Gribble Jennifer Ellenofficer: EVP, Chief People Officer | Grant | 7,000 | $9.97 |
| Jul 9, 2026 | WALSH JOHN CHRISTOPHERofficer: EVP, Chief Banking Officer | Grant | 10,000 | $11.17 |
| May 14, 2026 | Brennan Sean Patrickdirector | Grant | 650 | $9.24 |
| May 11, 2026 | Edelstein David Benjaminofficer: EVP, Chief Innovation Officer | Tax | 508 | $9.97 |
| May 8, 2026 | Nomura Phyllis Roseofficer: EVP, Chief Financial Officer | Tax | 605 | $9.97 |
| Mar 10, 2026 | Edelstein David Benjaminofficer: EVP, Chief Innovation Officer | Grant | 4,698 | $9.18 |
| Mar 10, 2026 | Mahaney Allison Rebeccaofficer: Chief Legal Officer | Grant | 871 | $9.18 |
| Mar 10, 2026 | Henderson Kyle Davidofficer: EVP, Chief Credit Officer | Grant | 4,153 | $9.18 |
| Mar 10, 2026 | Nomura Phyllis Roseofficer: EVP, Chief Financial Officer | Grant | 3,115 | $9.18 |
| Mar 9, 2026 | Finnie Cindy H.director | Grant | 2,533 | $9.18 |
| Mar 9, 2026 | Terwoerds Lynndirector | Grant | 2,533 | $9.18 |
| Mar 9, 2026 | Galanda Gabriel Stevendirector | Grant | 2,533 | $9.18 |
| Mar 9, 2026 | Brennan Sean Patrickdirector | Grant | 2,533 | $9.18 |
| Mar 9, 2026 | Behar Dana D.director | Grant | 2,533 | $9.18 |
| Mar 9, 2026 | Bartee Johanna Adirector | Grant | 2,533 | $9.18 |
Source: FNWB SEC Form 4 filings, latest Jul 9, 2026. For informational purposes only — not investment advice.
See the full FNWB insider & 13F page →First Northwest Bancorp company profile
Overview
First Northwest Bancorp (NASDAQ:FNWB) is a bank holding company founded in 1923 and based in Port Angeles, Washington. The company operates through its subsidiary First Fed Bank, providing commercial and consumer banking services across western Washington state. With nearly a century of operations, First Northwest has established itself as a regional community bank serving individuals, businesses, and nonprofit organizations through 12 full-service branches and a lending center in Seattle.
Business
First Northwest Bancorp operates in the regional banking industry, which serves as a critical intermediary between depositors seeking to store their money safely and borrowers needing access to capital. Regional banks like First Northwest typically focus on specific geographic markets, offering more personalized service than large national banks while maintaining deeper community ties. The company's core business revolves around two primary activities: deposit gathering and loan origination. On the deposit side, First Fed Bank accepts various types of customer deposits including checking accounts, savings accounts, money market deposit accounts, transaction accounts, and certificates of deposit. These deposits provide the bank with funds that can be lent out to generate interest income. On the lending side, the bank originates several types of loans: 1. One- to four-family residential mortgage loans, which are loans secured by single-family homes or small multi-family properties, 2. Commercial and multi-family real estate loans for business properties and larger residential complexes, 3. Construction and land loans that finance property development projects, 4. Commercial business loans that provide working capital and equipment financing to local businesses, and 5. Consumer loans, primarily automobile loans and home-equity loans and lines of credit. The bank operates as a single business segment focused on traditional community banking services, with revenue primarily derived from the interest rate spread between what it pays on deposits and what it earns on loans, supplemented by various banking fees and services.
Revenue model
First Northwest generates revenue primarily through net interest income, which is the difference between interest earned on loans and investments and interest paid on deposits and borrowings. This is the fundamental business model of banking - borrowing money at lower rates from depositors and lending it out at higher rates to borrowers. The bank's paying customers include individual consumers who need mortgages, auto loans, and home equity financing, as well as local businesses requiring commercial real estate loans, construction financing, and working capital. Depositors, while receiving services, also provide the bank with low-cost funding sources, particularly through checking and savings accounts that typically pay minimal interest. Several factors can significantly impact the bank's profitability margins. Interest rate environments play a crucial role - when rates rise rapidly, the bank may face pressure as deposit costs increase faster than loan yields can be repriced. Conversely, a favorable rate environment can expand net interest margins. Credit quality directly affects profitability, as loan losses reduce net income and require provisions that impact earnings. Local economic conditions in western Washington influence both loan demand and credit quality, making the bank sensitive to regional employment levels, real estate values, and business activity. Competition from larger national banks, credit unions, and online lenders can pressure both deposit pricing and loan yields. Additionally, regulatory compliance costs and capital requirements can affect operational efficiency and profitability margins.
Competitive moat
First Northwest's competitive moat is relatively narrow, typical of smaller regional banks. The company's primary defensive characteristics include its local market knowledge and community relationships built over nearly 100 years of operation in western Washington. This local presence allows for more personalized service and better understanding of regional credit risks compared to large national banks. However, the banking industry faces significant competitive pressures that limit moat strength. Large national banks offer broader product suites, more convenient digital platforms, and often more competitive pricing due to their scale advantages. Credit unions provide tax-advantaged competition for deposits, while online lenders and fintech companies increasingly compete for loan origination through streamlined digital processes. The bank's deposit franchise provides some stability, as customers often maintain long-term banking relationships due to switching costs and convenience factors. However, this moat is weakening as digital banking reduces geographic constraints and customers become more rate-sensitive. Regulatory barriers to entry in banking do provide some protection, but they also impose significant compliance costs that disproportionately affect smaller institutions. Overall, First Northwest operates in a commoditized industry with limited differentiation opportunities, making it vulnerable to both traditional banking competition and emerging fintech disruption.
Risks & safety
First Northwest presents significant financial risks with limited margin of safety based on recent performance: • Profitability concerns: The bank reported a net loss of $6.6 million for fiscal 2024, compared to a $2.3 million profit in 2023, indicating deteriorating operational performance • Cash position: Maintains $72.4 million in cash and short-term investments as of Q4 2024, providing some liquidity buffer • High leverage: Debt-to-equity ratio of 2.30x reflects typical banking leverage but limits financial flexibility • Valuation metrics: Trading at 0.58x book value suggests market concerns about asset quality or earning power • Asset quality risks: Heavy concentration in real estate lending exposes the bank to regional property market downturns • Capital adequacy: While regulatory capital ratios weren't specified, the negative ROE of -4.3% in 2024 suggests capital is being eroded • Interest rate sensitivity: Regional banks are particularly vulnerable to interest rate margin compression in challenging rate environments The combination of recent losses, high leverage, and industry-specific risks suggests a narrow margin of safety for investors.
Recent development
Based on available financial data, First Northwest has experienced significant operational challenges over recent years. The bank's performance deteriorated markedly in 2024, swinging from a $2.3 million profit in 2023 to a $6.6 million loss in 2024, representing a negative return on equity of 4.3%. The revenue decline from $64.1 million in 2023 to $61.0 million in 2024 suggests pressure on both net interest income and fee income. This deterioration occurred despite the bank maintaining its branch network and lending operations across western Washington. The bank's asset base has remained relatively stable around $2.2 billion, indicating limited growth in loan origination or deposit gathering. Cash levels decreased from $123.2 million at the end of 2023 to $72.4 million by Q4 2024, suggesting either strategic deployment of excess liquidity or operational cash needs. Without access to earnings call transcripts, specific strategic initiatives or management commentary on turnaround plans are not available. However, the financial trajectory suggests the bank is facing significant headwinds, possibly related to credit quality issues, margin compression, or increased operational expenses that have not been offset by revenue growth.
FNWB company profile · for informational purposes only — not investment advice.
Track FNWB with Drillr
SEC filings, earnings calls, insider activity, alt-data signals — all queryable through Drillr's AI terminal and MCP API.
Try Drillr for free