secwatch.observer — SEC 8-K summary
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Issuer:     First Northwest Bancorp (FNWB)
CIK:        0001556727
Form:       8-K
Filed at:   2024-01-31T23:59:59+00:00
Accession:  0001437749-24-002651
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1556727/000143774924002651/0001437749-24-002651-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1556727/000143774924002651/fnwb20240129_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-002651

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer