First Northwest Bancorp Completes Employee Stock Ownership Plan (ESOP) Purchases

PORT ANGELES, Wash., Dec. 18, 2015 (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ:FNWB) (“Company”), the holding company for First Federal Savings and Loan Association of Port Angeles, announced today that its Employee Stock Ownership Plan (ESOP) has completed its purchase of 1,048,029 shares of the Company’s common stock, representing 8.0% of the number of shares sold in the mutual to stock conversion. Shares were purchased in open market transactions at an average price per share including commissions of $12.45.

About the Company

First Northwest Bancorp, (NASDAQ:FNWB), a Washington corporation, is the holding company for First Federal Savings and Loan Association of Port Angeles. First Federal opened its doors in 1923 in Port Angeles, WA and continues to provide banking solutions for consumers and businesses throughout Clallam, Jefferson, Kitsap and Whatcom Counties with 10 banking locations (including the Administration Center in Port Angeles, WA). / (360)417.3204 / (800)800.1577

Forward-Looking Statements:

Certain matters in this News Release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may relate to, among others, expectations of the business environment in which the Company operates, projections of future performance, perceived opportunities in the market, potential future credit experience, and statements regarding the Company’s mission and vision. These forward-looking statements are based upon current management expectations, and may, therefore, involve risks and uncertainties. The Company’s actual results, performance, or achievements may differ materially from those suggested, expressed, or implied by forward-looking statements as a result of a wide range of factors including, but not limited to, the general business environment, interest rates, the Washington real estate market, competitive conditions between banks and non-bank financial services providers, regulatory changes, and other risks detailed in the Company’s reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended June 30, 2015.

Larry Hueth, President and Chief Executive Officer Regina Wood, EVP and Chief Financial Officer First Northwest Bancorp 360-417-3204

Source:First Northwest Bancorp