First Northwest Bancorp (FNWB) has shared an announcement.
In a strategic move to secure executive stability, First Northwest Bancorp and its subsidiary First Fed Bank have implemented a Change in Control Plan for their executives, excluding Matthew P. Deines who has a pre-existing agreement. This plan ensures that, should any executive face termination in the event of a company takeover, they would be compensated with a substantial lump sum. This sum includes their unpaid salary, bonuses, and a continuation of health benefits, aligning with the company’s commitment to its leadership team during transitional periods.
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