secwatch.observer — SEC 8-K summary
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Issuer:     First Northwest Bancorp (FNWB)
CIK:        0001556727
Form:       8-K
Filed at:   2024-10-29T23:59:59+00:00
Accession:  0001437749-24-032398
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Northwest Bancorp Q3 net loss $2.0M; restates Q2, cites material weakness; FDIC order terminated
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- Net loss $2.0M ($0.23 ps) vs net income $2.5M ($0.28) in Q3 2023; revenue $15.8M vs $17.9M.
- Provision for credit losses $3.1M in Q3 vs $0.4M a year ago; YTD total provision $12.8M.
- Restated Q2 2024 10-Q for $8.7M provision; identified material weakness in loan internal controls.
- FDIC consent order terminated less than one year after issuance; CEO praises staff and board.
- Nonperforming assets to total assets 1.35% vs 0.11% a year ago; Water Station equipment lender litigation ongoing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1556727/000143774924032398/0001437749-24-032398-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1556727/000143774924032398/fnwb20240826_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-032398

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