First Northwest Bancorp SEC 10-Q Report

First Northwest Bancorp has released its Form 10-Q report for Q3 2025, showing a return to profitability with a net income of $0.80 million, compared to a net loss of $1.98 million in Q3 2024. Total interest income decreased to $26.91 million, while net interest income rose to $14.57 million. Noninterest income increased to $2.00 million, and noninterest expenses rose to $17.39 million. The company focuses on maintaining strong credit quality and managing interest rate risk, with total loans receivable at $1.62 billion as of September 30, 2025.

First Northwest Bancorp, a community-oriented financial services provider operating in western Washington State, has released its Form 10-Q report for the third quarter of 2025. The report highlights the company's financial performance and operational activities for the three months ended September 30, 2025. The company has shown a return to profitability and continued focus on maintaining strong credit quality and managing interest rate risk.

Financial Highlights

Total Interest Income: $26.91 million for the three months ended September 30, 2025, reflecting a decrease from $28.21 million in the same period in 2024.
Net Interest Income: $14.57 million for the three months ended September 30, 2025, compared to $14.02 million in the same period in 2024, indicating a slight increase.
Net Income (Loss): $0.80 million for the three months ended September 30, 2025, compared to a net loss of $1.98 million in the same period in 2024, showing a return to profitability.
Basic and Diluted Earnings (Loss) Per Common Share: $0.09 for the three months ended September 30, 2025, compared to a loss of $0.23 per share in the same period in 2024, indicating improved earnings per share.
Total Noninterest Income: $2.00 million for the three months ended September 30, 2025, up from $1.78 million in the same period in 2024, driven by increases in loan and deposit service fees and BOLI cash surrender value.
Total Noninterest Expense: $17.39 million for the three months ended September 30, 2025, compared to $15.85 million in the same period in 2024, reflecting higher professional fees and other expenses.
Provision for Credit Losses: A recapture of $0.67 million for the three months ended September 30, 2025, compared to a provision of $3.13 million in the same period in 2024, indicating improved credit conditions.

Business Highlights

Revenue Segments: The company has identified three segments of its loan portfolio: Real Estate Loans, Consumer Loans, and Commercial Business Loans. These segments are further disaggregated into classes based on similar attributes and risk characteristics.
Geographical Performance: The Bank operates in western Washington State with offices in Clallam, Jefferson, Kitsap, King, Snohomish, and Whatcom counties, providing commercial and consumer banking services to individuals and businesses.
Sales Units: The total loans receivable as of September 30, 2025, were $1,623,132,000, with significant contributions from real estate loans ($1,143,119,000), consumer loans ($366,853,000), and commercial business loans ($113,160,000).
Future Outlook: The company continues to focus on community-oriented financial services, with an emphasis on maintaining strong credit quality and managing interest rate risk. The management anticipates that the operating results for the remainder of 2025 will be influenced by economic conditions and interest rate trends.

SEC Filing: First Northwest Bancorp [ FNWB ] - 10-Q - Nov. 06, 2025