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FNWB

First Northwest Bancorp

FNWB

First Northwest Bancorp • NASDAQ
$9.86 ▲ 1.39% (+0.14)
Market Cap $88.21 M
52w High $12.10
52w Low $6.05
Dividend Yield 0.14%
P/E -11.74
Volume 6.61K
Outstanding Shares 8.95M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $26.91M ▼ $2.95M ▼ $802K ▼ 2.98% ▼ $0.09 ▼ $-109K ▼
Q2-2025 $29.301M ▼ $12.765M ▼ $3.661M ▲ 12.494% ▲ $0.42 ▲ $4.282M ▲
Q1-2025 $30.6M ▲ $20M ▲ $-9.036M ▼ -29.529% ▼ $-1.03 ▼ $-9.831M ▼
Q4-2024 $29.497M ▼ $14.233M ▼ $-2.81M ▼ -9.526% ▼ $-0.32 ▼ $-2.13M ▲
Q3-2024 $29.985M $15.848M $-1.98M -6.603% $-0.23 $-2.836M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $298.296M ▼ $2.111B ▼ $1.957B ▼ $154.528M ▲
Q2-2025 $322.002M ▲ $2.195B ▲ $2.046B ▲ $149.733M ▲
Q1-2025 $81.505M ▼ $2.176B ▼ $2.019B ▼ $146.492M ▼
Q4-2024 $412.792M ▲ $2.232B ▼ $2.078B ▼ $153.882M ▼
Q3-2024 $393.582M $2.255B $2.095B $160.789M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $0 ▼ $17.771M ▲ $-57.828M ▼ $-84.81M ▼ $-8.574M ▼ $17.771M ▲
Q2-2025 $9.036M ▲ $3.972M ▲ $-10.069M ▼ $23.637M ▲ $17.54M ▲ $4.043M ▲
Q1-2025 $-9.036M ▼ $-21.743M ▼ $69.297M ▲ $-49.679M ▼ $-2.125M ▲ $-21.814M ▼
Q4-2024 $-2.81M ▼ $12.481M ▲ $1.53M ▲ $-24.285M ▼ $-10.274M ▼ $12.468M ▲
Q3-2024 $-1.98M $1.153M $-36.87M $35.26M $-457K $1.084M

Revenue by Products

Product Q1-2019Q2-2019Q3-2019Q4-2019
Cash Surrender Value Of Bankowned Life Insurance
Cash Surrender Value Of Bankowned Life Insurance
 $0 ▲$0 ▲$0 ▲$0 ▲
Credit Card Interchange Income
Credit Card Interchange Income
 $0 ▲$0 ▲$0 ▲$0 ▲
Debit Interchange Income
Debit Interchange Income
 $0 ▲$0 ▲$0 ▲$0 ▲
Deposit Fees
Deposit Fees
 $0 ▲$0 ▲$0 ▲$0 ▲
Investment Securities
Investment Securities
 $0 ▲$0 ▲$0 ▲$0 ▲
Loan Fees
Loan Fees
 $0 ▲$0 ▲$0 ▲$0 ▲
Loan Sales
Loan Sales
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been climbing steadily over the past five years, which shows the bank is growing its business. However, profitability has become more challenged. Margins have narrowed, and what was a solid profit a few years ago has turned into a small loss most recently. This suggests that higher funding costs, credit costs, or expenses tied to building out new initiatives and technology are weighing on earnings. In short, the top line is moving in the right direction, but the bottom line has clearly weakened and needs to stabilize for the trend to look healthier.

Balance Sheet

Balance Sheet The balance sheet has grown, with total assets increasing over time, which fits a bank that is expanding its lending and service footprint. Debt levels have also risen, making the bank more leveraged than it was a few years ago, while equity has stayed roughly flat to slightly lower. Cash balances move around but are not unusually low. Overall, the bank appears reasonably capitalized but is leaning more on borrowed funds than in the past, which makes disciplined risk management and credit quality especially important.

Cash Flow

Cash Flow Cash generation looks steadier than the income statement suggests. Operating cash flow has remained consistently positive, and free cash flow has also been positive, with only modest spending needs for investments and technology. This indicates the core banking operations are still producing cash, even in a period of weaker reported profits. It gives the bank some flexibility to absorb short-term earnings pressure while continuing to fund its strategic projects.

Competitive Edge

Competitive Edge First Northwest Bancorp sits in a niche between a traditional community bank and a tech-forward financial platform. Its long history and strong local ties in the Pacific Northwest give it trust and loyalty that larger, less personal banks can struggle to match. Layered on top of that, it is building a differentiated position through fintech partnerships, business-focused digital tools, and support for entrepreneurs and growth companies. At the same time, its regional scale and past regulatory issues around a fintech venture mean it must execute carefully to maintain credibility and manage risk as it competes with both big banks and pure fintech players.

Innovation and R&D

Innovation and R&D The company is unusually active on the innovation front for a regional bank. New leadership with deep fintech experience, a dedicated innovation executive, and a strategy built around being a “modern-day merchant bank” show a clear commitment to technology and partnerships rather than just traditional branch banking. Its upgraded digital business platform, curated fintech offerings, and investments in areas like digital lending and spend management are all aimed at making the bank more relevant to modern businesses and consumers. The main risk is that innovation in banking is heavily regulated; the prior consent order tied to a fintech joint venture highlights the need to balance experimentation with strong compliance and controls.

Summary

First Northwest Bancorp is in the middle of a strategic shift: from a classic community bank with deep regional roots to a hybrid institution that pairs local relationships with fintech-enabled services. Revenue growth and solid cash generation are positives, but profitability has slipped into loss territory and leverage has risen, which raises the bar for careful execution. On the opportunity side, the bank’s community presence, customer satisfaction recognition, and merchant-bank-style partnerships give it a distinctive story among regional banks. The key questions going forward are whether management can restore consistent profitability, manage regulatory and credit risks as it leans into fintech, and translate its innovation agenda into durable, higher-quality earnings over time.

NEWS

October 27, 2025 · 7:00 AM UTC

First Northwest Bancorp Announces Third Quarter 2025 Results

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September 12, 2025 · 9:15 AM UTC

First Northwest Bancorp and First Fed Bank name Curt Queyrouze as CEO and President

Read more