---
schema_version: "secwatch.filing_event.v1"
accession: "0000939057-24-000091"
form_type: "8-K"
ticker: null
cik: "0001401564"
company_name: "First Financial Northwest, Inc."
filed_at: "2024-04-30T23:59:59+00:00"
generated_at: "2026-06-03T04:15:13.510644+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# FFNW posts Q1 net loss of $1.1M on pension annuity and merger costs

## Summary
- Net loss of $1.1M ($0.12 diluted loss) vs net income of $1.2M in Q4 2023 and $2.1M in Q1 2023.
- Recognized $1.2M pretax expense for single premium group annuity to settle frozen defined benefit plan.
- Incurred $767K pretax expenses related to pending asset sale to Global Federal Credit Union.
- Net interest margin improved slightly to 2.55% from 2.54% linked quarter; loan yield rose to 5.88%.
- Credit quality strong with $201K nonaccrual loans (0.02% of loans); $175K recapture of provision for credit losses.

## SEC filing metadata
- accession: 0000939057-24-000091
- form_type: 8-K
- cik: 0001401564
- company_name: First Financial Northwest, Inc.
- filed_at: 2024-04-30T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1401564/000093905724000091/0000939057-24-000091-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1401564/000093905724000091/ffnw8k43024.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000939057-24-000091
- JSON: https://secwatch.observer/filing/0000939057-24-000091.json
- Plain text: https://secwatch.observer/filing/0000939057-24-000091.txt

## Key facts
- Earnings Releases
  First Financial Northwest, Inc. reported the quarter ended March 31, 2023 results: net income net income of $2.1 million, or $0.23 per diluted share.
  - Period: the quarter ended March 31, 2023
  - Net income: net income of $2.1 million, or $0.23 per diluted share
  - Result: reported results
  source text: First Financial Northwest, Inc. (the “Company”) (NASDAQ GS: FFNW), the holding company for First Financial Northwest Bank (the “Bank”), today reported a net loss of $1.1 million, or $0.12 per diluted share, for the quarter ended March 31, 2024, compared to net income of $1.2 million, or $0.13 per diluted share, for the quarter ended December 31, 2023, and net income of $2.1 million, or $0.23 per diluted share, for the quarter ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1401564/000093905724000091/0000939057-24-000091-index.htm
- Earnings Releases
  First Financial Northwest, Inc. reported the quarter ended December 31, 2023 results: net income net income of $1.2 million, or $0.13 per diluted share.
  - Period: the quarter ended December 31, 2023
  - Net income: net income of $1.2 million, or $0.13 per diluted share
  - Result: reported results
  source text: First Financial Northwest, Inc. (the “Company”) (NASDAQ GS: FFNW), the holding company for First Financial Northwest Bank (the “Bank”), today reported a net loss of $1.1 million, or $0.12 per diluted share, for the quarter ended March 31, 2024, compared to net income of $1.2 million, or $0.13 per diluted share, for the quarter ended December 31, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1401564/000093905724000091/0000939057-24-000091-index.htm
- Earnings Releases
  First Financial Northwest, Inc. reported the quarter ended March 31, 2024 results: net income a net loss of $1.1 million, or $0.12 per diluted share.
  - Period: the quarter ended March 31, 2024
  - Net income: a net loss of $1.1 million, or $0.12 per diluted share
  - Result: reported results
  source text: First Financial Northwest, Inc. (the “Company”) (NASDAQ GS: FFNW), the holding company for First Financial Northwest Bank (the “Bank”), today reported a net loss of $1.1 million, or $0.12 per diluted share, for the quarter ended March 31, 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/1401564/000093905724000091/0000939057-24-000091-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.