FNWB
First NorthwestยทNASDAQ
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FNWB Profile
First Northwest Bancorp
The bank holding company of First Fed Bank, a community-oriented financial institution that operating in Washington state
105 West 8th Street, Port Angeles, Washington 98362
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First Northwest Bancorp is a well-established financial institution with a history of 89 years that can meet the financial needs of customers, mainly in the company's local market. First Commonwealth is a community-based savings bank serving Washington's North Olympic Peninsula region primarily through its nine full-service banking offices. Its eight branches are located in Clarham and Jefferson counties, Washington. In December 2011, the Company opened a new lending center in Kitsap County, which became a full-service branch in October 2012. In addition, in July 2012, the Company opened a loan production office in Bellingham, Washington. The company is considering expanding into Watcombe, Skagit, Isle, Snohomish and San Juan, Washington in the short term, and may also consider acquiring other financial institutions in the Northwest. Throughout its 90-year history, the company has operated as a traditional savings and loan association, absorbing deposits and investing these funds mainly in residential mortgage loans and securities. In the past ten years, recognizing the company's need to adapt to changing markets, the company has strengthened its senior management team and revised its business strategy to diversify its loan portfolio, expand its deposit product range and upgrade its infrastructure. The Company has gradually increased the generation of commercial real estate and multi-property loans, and reduced its reliance on originating and maintaining long-term, fixed-rate, owner-occupied residential mortgage loans. Since 2009, the company has generally sold newest originations and refinancings, and qualified single-family owner-occupied mortgage loans to enter the secondary market.
