---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-002651"
form_type: "8-K"
ticker: "FNWB"
cik: "0001556727"
company_name: "First Northwest Bancorp"
filed_at: "2024-01-31T23:59:59+00:00"
generated_at: "2026-06-06T13:27:24.159394+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# First Northwest Bancorp enters sale-leaseback of 6 branches for $14.7M, expects ~$7.5M pre-tax gain

## Summary
- Sale-leaseback of up to six branch properties for $14.67M; estimated pre-tax gain of ~$7.5M.
- Annual rent of ~$1.35M; initial 15-year term with one 15-year renewal under triple-net leases.
- Closing targeted late Q1/early Q2 2024; Mountainseed may terminate for any reason.
- Company may sell securities portfolio in loss position to offset some of the gain.
- All six properties are operating branches in Clallam/Jefferson Counties, Washington.

## SEC filing metadata
- accession: 0001437749-24-002651
- form_type: 8-K
- ticker: FNWB
- cik: 0001556727
- company_name: First Northwest Bancorp
- filed_at: 2024-01-31T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1556727/000143774924002651/0001437749-24-002651-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1556727/000143774924002651/fnwb20240129_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-002651
- JSON: https://secwatch.observer/filing/0001437749-24-002651.json
- Plain text: https://secwatch.observer/filing/0001437749-24-002651.txt

## Key facts
- Material Agreements
  First Northwest Bancorp entered into Sale Agreement with Mountainseed Real Estate Services, LLC valued at $14.67 million (effective 2024-01-30).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Mountainseed Real Estate Services, LLC
  - Value: $14.67 million
  - Effective: 2024-01-30
  source text: On January 30, 2024, First Fed Bank (the “Bank”), a wholly-owned subsidiary of First Northwest Bancorp (the “Company”), entered into an agreement for the purchase and sale of real property (the “Sale Agreement”) with Mountainseed Real Estate Services, LLC, a Georgia limited liability company (“Mountainseed”), providing for the Bank’s sale to Mountainseed of up to six properties (the “Properties”) for an aggregate cash purchase price of $14.67 million, assuming all of the Properties are sold.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1556727/000143774924002651/0001437749-24-002651-index.htm

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