secwatch.observer — SEC 8-K summary
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Issuer:     First Financial Northwest, Inc. (—)
CIK:        0001401564
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0000939057-24-000091
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1401564/000093905724000091/0000939057-24-000091-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1401564/000093905724000091/ffnw8k43024.htm
  HTML page:      https://secwatch.observer/filing/0000939057-24-000091

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