secwatch.observer — SEC 8-K summary
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Issuer:     First Northwest Bancorp (FNWB)
CIK:        0001556727
Form:       8-K
Filed at:   2024-07-25T23:59:59+00:00
Accession:  0001437749-24-023448
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FNWB Q2 net income $1.4M, EPS $0.16; credit provision spikes on two borrowing relationships; dividend $0.07
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- Net income $1.4M (EPS $0.16) vs $1.8M ($0.20) in Q2 2023; pre-provision net interest income fell to $14.3M from $16.0M.
- Provision for credit losses increased substantially due to two borrowing relationships placed in receivership; nonperforming assets to total assets rose to 1.36% from 0.12% a year ago.
- Board declared $0.07 per share quarterly dividend, payable Aug 23, 2024 to holders of record Aug 9.
- Balance sheet restructure completed including sale-leaseback of six branches, securities loss sales, and balance sheet hedges; CEO cites NIM inflection point after five quarters of decline.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1556727/000143774924023448/0001437749-24-023448-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1556727/000143774924023448/fnwb20240522_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-023448

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