PORT ANGELES, Wash., Aug. 17, 2020 (GLOBE NEWSWIRE) — First Northwest Bancorp (NASDAQ: FNWB) (“Company”), the holding company for First Federal Savings and Loan Association of Port Angeles (“Bank” or “First Federal”), and First Federal Community Foundation, were recently recognized by the Puget Sound Business Journal as one of the top corporate philanthropists in Washington State. Of the 26 midsize companies that made the Journal’s list, First Federal Bank and Foundation collectively contributed $1.06 million, and ranked #2. Together, these 26 midsized companies contributed $10.6 million to Washington nonprofits.
The combined contributions of the Bank and its Foundation to Washington non-profit organizations was acknowledged at the annual Corporate Citizenship Awards hosted virtually by the Puget Sound Business Journal on August 11, 2020.“We are delighted to receive the Corporate Citizenship Award and to share this honor with such a select group of Washington companies,” said Matthew P. Deines, President and CEO of First Federal. “Being recognized as one of the top midsized companies in the state for corporate philanthropy is a great affirmation of our commitment to the communities we serve.”“We are committed to improving the quality of life in our communities through focused investing in projects and programs that provide valuable charitable services, facilitate economic and community development, and enhance the availability of affordable housing,” said Norman Tonina, Chairman of the First Federal Community Foundation and Director of First Federal. “We are proud to support and generate meaningful change in our communities.”About the AwardsThe Puget Sound Business Journal annually recognizes the top corporate philanthropists and ranks these in the categories of small, medium and large companies. Puget Sound Business Journal has calculated that the 76 companies on this year’s list had a combined cash giving in Washington State of $347.6 million in 2019.About the CompanyFirst Northwest Bancorp, a Washington corporation, is the bank holding company for First Federal Savings and Loan Association of Port Angeles. First Federal is a Washington state-chartered savings bank primarily serving communities in Western Washington State with thirteen banking locations – eight located within Clallam and Jefferson counties, two in Kitsap County, two in Whatcom County, and a lending center in King County.About First Federal Community FoundationFirst Federal Community Foundation is a private 501(c)3 charitable corporation that began making grants in 2015 with a generous gift of stock and cash from the parent company of First Federal Bank, when the bank was converted to a publicly traded company. With this gift, First Federal Bank made clear its commitment to continue its tradition of supporting the communities it serves.The Foundation is committed to creating broad impact and improving the quality of life in Clallam, Jefferson, Kitsap and Whatcom Counties, which are the communities in which First Federal Bank– the Foundation’s sole donor–maintains full-service branches.Forward Looking StatementsCertain matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, expectations of the business environment in which we operate, projections of future performance, perceived opportunities in the market, potential future credit experience, and statements regarding our mission and vision. These forward-looking statements are based upon current management expectations and may, therefore, involve risks and uncertainties. Our actual results, performance, or achievements may differ materially from those suggested, expressed, or implied by forward-looking statements as a result of a wide variety or range of factors including, but not limited to: increased competitive pressures; changes in the interest rate environment; the credit risks of lending activities; changes in general economic conditions and conditions within the securities markets; legislative and regulatory changes; and other factors described in the Company’s latest Annual Report on Form 10-K and other filings with the Securities and Exchange Commission (“SEC”)-which are available on our website at www.ourfirstfed.com and on the SEC’s website at www.sec.gov.Any of the forward-looking statements that we make in this Press Release and in the other public statements we make may turn out to be incorrect because of the inaccurate assumptions we might make, because of the factors illustrated above or because of other factors that we cannot foresee. Because of these and other uncertainties, our actual future results may be materially different from those expressed or implied in any forward-looking statements made by or on our behalf and the Company’s operating and stock price performance may be negatively affected. Therefore, these factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. We do not undertake and specifically disclaim any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. These risks could cause our actual results for fiscal 2020 and beyond to differ materially from those expressed in any forward-looking statements by, or on behalf of, us and could negatively affect the Company’s operations and stock price performance.
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