First Northwest Bancorp 2024年度报告

April8,2025 Dear Shareholder: Wearehonoredtopresentthe2024AnnualReportonbehalfoftheentireteamatFirstNorthwestBancorpandFirstFedBank.Thepastyeartestedbusinessesandfinancialinstitutionsnationwide.Despiteacomplexeconomiclandscape,westayedcommittedtoourmissionofimprovingthelivesofourcustomers,employees,shareholders,andcommunities. Our Financial Performance TheBoardandmanagementremainedfocusedonfinancialresilienceandlongͲtermstabilitythroughout2024.Whileelevatedcreditcostsledtoanetlossof$6.6million,preͲtaxpreͲprovisionnetrevenue1grewto$8.9million,morethandoublingfromtheprioryear.Loangrowthof$35.8millioncontributedtototalassetsreaching$2.23billion,reflectinga1.4%increaseover2024.Interestincomeroseto$112.3million,an$11.4millionyearͲoverͲyeargain,bolsteredbyhigheryieldsandstrategicbalancesheetrestructuring. Thesuccessfulimplementationofafairvaluehedgeenhancedearningsandreducedinterestraterisk,whilereinvestmentinhigherͲyieldingbankͲownedlifeinsurancepoliciesandinvestmentsecuritiesfurtherstrengthenedprofitability.Withacontinuedfocusonliquidity,capitalmanagement,andassetquality,webelieveFirstNorthwestiswellͲpositionedtoimprovefinancialperformancein2025throughcorerelationshipgrowth,resolutionofproblemassets,anddisciplinedcapitaldeployment. Our Governance Commitment TheBoardhasconsistentlydemonstrateditscommitmenttostronggovernanceandsupportedremovalofthesupermajorityvotingprovisionsfromourArticlesofIncorporation,believingthatamajorityvotingstructurebetterservesshareholders.Althoughtheamendmentdidnotreceivesufficientapprovalin2022or2024,theBoardhasproposedremovaloftheprovisionsagainthisyearandremainscommittedtoadvocatingforgovernanceimprovementsthatenhancetransparencyandshareholderrights. TheBoardwasexcitedtoannouncetheappointmentofJohannaBarteeinFebruary2025.Ms.Bartee’sfinancialexpertiseandcommunityinsightswillfurtherstrengthenourBoard.ShehasbeennominatedforelectionattheupcomingAnnualMeeting. Our Community Investment Ourcommitmenttocommunityinvestmentextendsbeyondfinancialservices.In2024,FirstFedandtheFirstFedFoundationcontributedmorethan$1milliontoorganizationsinourfootprint.Employeesalsogavebackinmeaningfulways,volunteeringnearly6,000hoursthroughacombinationofpaidservicetimeandpersonalcontributions.Theseeffortsnotonlyempowerourcommunitiesbutalsofostereconomicgrowthanddeepenrelationshipsthatdriveourcollectivesuccess. Our Future Theyearaheadpresentsopportunitiestobuildonourmomentum.Strengtheningdepositmix,expandingloanproduction,andleveragingtechnologyforoperationalefficienciesremaintoppriorities.Asweembraceinnovationandadapttoanevolvingfinanciallandscape,ourmissioncontinuestoguideus.WeareworkingtocreatelongͲtermvalueforshareholdersbyremainingsteadfastinourcommitmenttoexceptionalservice. Yourtrustandsupportaredeeplyappreciated.Welookforwardtoseeingyouatthisyear’sAnnualMeeting. Sincerely, MATTHEWP.DEINESPresidentandChiefExecutiveOfficer Foundation Contributions2024 Annual Total: $600,000 FirstFedFoundation(formerlyFirstFederalCommunityFoundation),aprivatecharitablecorporation,beganmakinggrantsin2015thankstoagenerousgiftfromFirstNorthwestBancorp,theparentcompanyofFirstFedBank,duringitsconversiontoapubliclytradedcompany. FirstNorthwest’sgiftunderscoreditscommitmenttocontinueFirstFed’slegacyofgivingbacktothecommunitiesitserves.Inthatsamespirit,FirstFedFoundationiscommittedtocreatingbroadimpactthatbenefitslowͲtoͲmoderateincome,disadvantagedand/ormarginalizedindividualsandfamiliesinthecommunitieswhereFirstFedoperatesfullͲservicebranches.TheFoundationfundsprojectsandprogramsthatimprovequalityoflife(includingarangeofcommunitysupportefforts),addresshomelessnessandtheavailabilityofaffordablehousing,amdcontributetobothcommunityandeconomicdevelopment. “TheFoundation’slifetimefinancialcontributionssince2015exceeded$7.3millionlastyear.WeareproudoftheFoundation’scommitmenttosupportthewellͲbeingandprosperityofthecommunitiesweserve!—MatthewP.Deines,PresidentandCEO,FirstFedBank NonͲGAAPFinancialMeasuresThisAnnualcontainsfinancialmeasuresthatarenotinconformitywithgenerallyacceptedaccountingprinciplesintheUnitedStates ofAmerica("GAAP").NonͲGAAPmeasuresarepresentedwheremanagementbelievestheinformationwillhelpinvestorsunderstandFirstNorthwest’sresultsofoperationsorfinancialpositionandassesstrends.WherenonͲGAAPfinancialmeasuresareused,thecomparableG