First Northwest Bancorp Announces Termination of Consent Order by FDIC and Dividend Declaration

First Northwest Bancorp (NASDAQ: FNWB) recently filed a Form 8-K with the Securities and Exchange Commission, detailing significant updates within the company. The report, dated October 22, 2024, highlighted two key announcements.

Regulatory Proceedings Update:
First Fed Bank, the wholly owned subsidiary of First Northwest Bancorp, disclosed that on October 23, 2024, the Federal Deposit Insurance Corporation (FDIC) terminated the Consent Order issued to the Bank, effective November 21, 2023. This termination follows the successful resolution of deficiencies in the Bank’s compliance program that the Order had addressed.

Dividend Announcement:
In addition to the regulatory update, the Board of Directors of First Northwest Bancorp declared a quarterly cash dividend of $0.07 per common share. Shareholders of record on November 8, 2024, will receive the dividend on November 22, 2024.

The company attached a press release dated October 28, 2024, providing further details on these announcements as Exhibit 99.1 to the Form 8-K filing.

Alongside the regulatory and dividend news, the filing included the submission of Exhibit 104, covering the Inline XBRL document, providing interactive data.

President and Chief Executive Officer of First Northwest Bancorp, Matthew P. Deines, signed the Form 8-K on behalf of the company on October 28, 2024.

This disclosure marks an important development for First Northwest Bancorp, reflecting positive strides in regulatory compliance and a commitment to delivering returns to its shareholders.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read First Northwest Bancorp’s 8K filing here.

About First Northwest Bancorp

First Northwest Bancorp operates as a bank holding company for First Fed Bank that provides commercial and consumer banking services to individuals, businesses, and nonprofit organizations in western Washington, the United States. The company accepts various deposit instruments, including checking, money market deposit, savings, and transaction accounts, as well as certificates of deposit.