First Financial Northwest Inc 2024年度报告

☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FIRST FINANCIAL NORTHWEST, INC.(Exact name of registrant as specified in its charter) Washington26-0610707(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification Number) 201 Wells Avenue South,Renton,Washington98057(Address of principal executive offices)(Zip Code) Common Stock, $0.01 par value per shareThe Nasdaq Stock Market LLC(Title of Each Class)(Name of Each Exchange on Which Registered) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.YesNo☑Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. YesNo☑Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.Yes☑No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☑No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growthcompany. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act: Large accelerated filerAccelerated filerNon-accelerated filer☑Smaller reporting company☑Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financialaccounting standards provided pursuant to Section 13(a) of the Exchange Act. _____ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financialreporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect thecorrection of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of theregistrant’s executive officers during the relevant recovery period pursuant to §240.10D-1 (b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).☐ The aggregate market value of voting and nonvoting common equity held by nonaffiliates of the registrant based on the closing sales price of the registrant’s common stock asquoted on The Nasdaq Stock Market LLC on June 30, 2024, was $170,853,841(8,085,842 shares at $21.13 per share). For DOCUMENTS INCORPORATED BY REFERENCE None. FIRST FINANCIAL NORTHWEST, INC.2024 ANNUAL REPORT ON FORM 10-KTABLE OF CONTENTS Forward-Looking StatementsInternet Website PART I.Item 1.Business1General1Market Area2Lending Activities3Asset Quality12Investment Activities16Deposit Activities and Other Sources of Funds19Subsidiaries and Other Activities22Competition22Human Capital23How We Are Regulated23Taxation31Information about our Executive Officers31Item 1A.Risk Factors32Item 1B.Unresolved Staff Comments44Item 1C.Cybersecurity44Item 2.Properties45Item 3.Legal Proceedings46Item 4.Mine Safety Disclosures46PART II.Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities46Item 6.[Reserved]46Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations47Overview47Business Strategy48Critical AccountingEstimates48Comparison of Financial Condition at December 31, 2024, and December 31, 202350Comparison of Operating Results for the Years Ended December 31, 2024 and December 31, 202354Average Balances, Interest and Average Yields/Costs58Yields Earned and Rates Paid59Rate/Volume Analysis60Asset and Liability Management and Market Risk60Liquidityand Capital Resources62Recent Accounting Pronouncements64Item 7A.Quantitative and Qualitative Disclosures About Market Risk64Item 8.Financial Statements and Supplementary Data64Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure115Item 9A.Controls and Procedures115Item 9B.Other Information116Item 9C.Disclosu