First Northwest Bancorp settles Socotra lawsuit for $1.3M

First Northwest Bancorp

Bank agreed to pay $1.3M cash within 30 days of settlement dated Sept 15, 2026.
Socotra REIT I, LLC claimed misrepresentation, fraud, conversion, and Consumer Protection Act violations.
Settlement includes full release and dismissal of complaint with prejudice; no admission of liability.
Company cites avoiding costs, uncertainties, and distraction of continued litigation.

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