First Northwest Bancorp Declares Quarterly Cash Dividend, Announces Earnings Release

First Northwest Bancorp (NASDAQ: FNWB) disclosed on January 29, 2025, that its Board of Directors has approved a quarterly cash dividend of $0.07 per share of common stock. The dividend is set to be paid on February 28, 2025, to shareholders of record as of February 14, 2025.

The announcement was made as part of the company’s recent earnings release for the quarter and year ending on December 31, 2024. The earnings release, included as Exhibit 99.1, highlighted key financial information and performance metrics. Notably, the company’s financial condition and operational results through the specified period were detailed in a slide presentation included in Exhibit 99.2 of the filed report.

It is important to note that both the earnings release and the slide presentation are being furnished under Items 2.02 and 7.01 of the report, respectively. The company clarified that this information, including the exhibits, is not filed for purposes of Section 18 of the Securities Exchange Act of 1934. Neither will it be deemed incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act.

The declared cash dividend showcases the company’s commitment to providing value to its shareholders. The upcoming payment is part of the company’s dividend policy and reflects its financial strength.

Upon review by the Securities and Exchange Commission, the company is set to hold a Settlement Hearing on April 7, 2025, to consider the fairness, reasonableness, and adequacy of the settlement and dismissal of the State Derivative Action with prejudice. The settlement is intended to bring closure to certain derivative actions and demands against the company and certain officers, removing potential legal distractions and risks.

The Settlement Hearing aims to address objections and concerns related to the proposed settlement. Current First Northwest Bancorp shareholders as of January 8, 2025, have the right to object to the settlement, with specific guidelines outlined for submission of objections and participation in the hearing.

Overall, this recent development reflects the company’s ongoing efforts to maintain transparency, manage legal matters efficiently, and focus on delivering value to its shareholders amidst the evolving financial landscape.

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.