First Financial Northwest Inc (OQ:FFNW)
Business Focus: Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 201 Wells Ave S RENTON WA 98057 |
| Tel: | 1-425-2542038 |
| Website: | N/A |
| IR: | N/A |
| Key People | ||
| Joseph W. Kiley President, Chief Executive Officer, Director | Richard P. Jacobson Chief Financial Officer, Chief Operating Officer, Executive Vice President, Director | Ronnie J. Clariza Senior Vice President, Chief Risk Officer |
| Dalen D. Harrison Senior Vice President, Chief Banking Officer | Simon Soh Senior Vice President, Chief Credit Officer | |
| Business Overview |
| First Financial Northwest, Inc. is the holding company for First Financial Northwest Bank (the Bank). The Bank focuses on its lending activities primarily on loans secured by commercial real estate, construction/land, first mortgages on one-to-four family residences, multifamily, and business lending. It offers secured consumer loans, including savings account loans, auto loans and home equity loans that include lines of credit and second mortgage term loans. It originates construction/land loans primarily to residential builders for the construction of single-family residences, condominiums, townhouses, multifamily properties and residential developments located in its market area. Its land development loans are generally made to builders for preparation of a building site. Its investment portfolio consists of mortgage-backed securities, municipal bonds, United States government agency obligations, and corporate bonds. It serves King, Snohomish, Pierce and Kitsap counties, Washington. |
| Financial Overview |
| For the three months ended 31 March 2024, First Financial Northwest Inc interest income increased 6% to $19.6M. Net interest income after loan loss provision decreased 17% to $9.1M. Net loss applicable to common stockholders totaled $1.1M vs. income of $2.1M. Net interest income after loan loss provision reflects Investments decrease of 2% to $2.1M, Dividends on FHLB Stock decrease of 3% to $127K. |
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