PORT ANGELES, Wash., June 30, 2016 (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ:FNWB) today announced that it has been added as a member of the broad-market Russell 3000® Index, effective after the U.S. market opened on June 27, 2016, as part of the 2016 Russell indexes reconstitution.
Annual reconstitution of the Russell indexes captures the 4,000 largest U.S. stocks as of the end of May 2016, ranking them by total market capitalization. Membership in the Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
“We are pleased to be added to the Russell 3000® Index as it represents a significant milestone for First Northwest Bancorp ("FNWB") as we continue to gain visibility in the investment community,” stated Larry Hueth, President and CEO of First Northwest Bancorp. “It reflects the important progress we are making in multiple areas as we continue our growth as a public company while remaining committed to our mission to provide the communities we serve with innovative banking solutions to meet their financial goals.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $6 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
About First Northwest Bancorp
First Northwest Bancorp, 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). www.ourfirstfed.com / (360)417.3204 / (800)800.1577
About FTSE Russell:
FTSE Russell is a global index leader and data provider that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $10 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance, and embraces the IOSCO principles. FTSE Russell is also focused on index innovation and client collaboration as it seeks to enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit www.ftserussell.com.
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 FNWB operates, projections of future performance, perceived opportunities in the market, potential future credit experience, and statements regarding FNWB’s mission and vision. These forward-looking statements are based upon current management expectations, and may, therefore, involve risks and uncertainties. FNWB’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 FNWB’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.
Contact: Jeanine Lee Marketing Manager, VP First Federal Tel: 360-417-3238 Fax: 360-417-3190 Email: Jeanine.firstname.lastname@example.org
Source:First Northwest Bancorp