Quarterly ResultApr 29, 2026, 11:21 AM
FNWB Q1 Net Income $6,000; EPS $0.00; NIM 3.03%
AI Summary
First Northwest Bancorp reported net income of $6,000 for the first quarter of 2026, a significant decrease from $382,000 in the prior quarter but a substantial improvement from a $9.0 million net loss in Q1 2025. Basic and diluted income per share was $0.00. The company is undergoing a disciplined transformation to improve operating efficiency and reposition its balance sheet, with management expecting profitability to improve in the second half of 2026 and beyond. Key financial highlights include an expanded net interest margin and a decrease in the cost of total deposits.
Key Highlights
- FNWB Q1 2026 net income was $6,000, down from $382,000 in Q4 2025 and a net loss of $9.0M in Q1 2025.
- Basic and diluted EPS was $0.00 for Q1 2026, compared to $0.04 in Q4 2025 and a loss of $1.03 in Q1 2025.
- Net interest margin expanded for the sixth consecutive quarter to 3.03% in Q1 2026 from 3.00% in Q4 2025.
- Cost of total deposits dropped to 2.04% in Q1 2026 from 2.12% in Q4 2025.
- Customer deposits increased $24.9 million, or 1.6%, to $1.54 billion at March 31, 2026.
- Brokered deposits decreased $22.4 million, or 25.9%, to $64.1 million at March 31, 2026.
- Total risk-based capital ratio remained stable at 13.5% for First Fed Bank.
- Nonperforming loans decreased $896,000 to $21.7 million at March 31, 2026.