First Northwest Bancorp (FNWB) AI Stock Analysis

• Market Cap: $98.69M
• Dividend Yield: 2.88%
• Average Volume (3M): 21.84K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.28
• Revenue Growth: 8.02%
• EPS Growth: 21.36%
• Country: US
• Employees: 227
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.04
• Shares Outstanding: 9,462,150
• 10 Day Avg. Volume: 10,691
• 30 Day Avg. Volume: 21,836
• PEG Ratio: 0.03
• Price to Book (P/B): 0.58
• Price to Sales (P/S): 0.77
• P/FCF Ratio: 5.31
• Enterprise Value/Market Cap: 4.24
• Enterprise Value/Revenue: 3.54
• Enterprise Value/Gross Profit: 7.53
• Enterprise Value/Ebitda: -53.77
• 1Y Price Target: $13.50
• Price Target Upside: 29.43% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 50 Neutral
• Price Target: $10.00 ▼(-4.12% Downside)

The score is held back primarily by weakening financial performance—losses in 2024 and TTM, negative revenue momentum in TTM, and elevated (though improving) leverage. Technicals are modestly supportive with the stock trading above major moving averages, and the dividend yield helps somewhat, but valuation remains constrained by negative earnings.

Positive Factors

Diversified Revenue Mix

FNWB's business mixes interest income from loans and securities with fee income from wealth management, mortgage and transaction services. That diversification provides more stable revenue across cycles than pure-loan models, supporting durable cash generation and local client relationships.

Positive Cash Generation

The bank produced positive operating and free cash flow in 2024 and TTM, with FCF roughly matching net income. That indicates core cash conversion capacity and underlying earnings quality, enabling internal funding for operations, capital needs and distributions when cash performance is sustained.

Deleveraging Trend

A reduction in debt-to-equity signals active balance-sheet repair and improved financial flexibility. Lower leverage reduces sensitivity to credit or rate shocks, helping the bank preserve capital and support lending; sustained deleveraging would materially strengthen resilience over months.

Negative Factors

Profitability Deterioration

The shift to negative net margins and losses in 2024 and TTM undermines internal capital generation and ROE. Persistent unprofitable operations constrain the bank's ability to reinvest, expand lending, or rebuild capital buffers without operational recovery or external capital, a material medium-term headwind.

Elevated Leverage and Negative ROE

Despite improvement, leverage remains high and ROE negative, heightening vulnerability to loan losses or funding stress. Continued elevated leverage limits strategic optionality and increases the chance of capital actions; until profitability recovers, the balance sheet remains a structural risk.

Senior Management Turnover

The departure of a long-tenured EVP/COO who also served as interim CEO/CFO removes institutional leadership during a recovery phase. Even described as orderly, such turnover can slow execution of strategic fixes, disrupt operations and lengthen the timeline to restore consistent profitability.

First Northwest Bancorp Business Overview & Revenue Model

Company Description

First Northwest Bancorp operates as a bank holding company for First Fed Bank that provides commercial and consumer banking services to individuals, businesses, and nonprofit organizations in western Washington, the United States. It accepts various deposit instruments, including checking, money market deposit, savings, and transaction accounts, as well as certificates of deposit. The company also originates one- to four-family mortgage loans, commercial and multi-family real estate loans, construction and land loans, and commercial business loans, as well as consumer loans primarily consisting of automobile loans, and home-equity loans and lines of credit. It operates through 12 full-service branches and a lending center in Seattle. The company was founded in 1923 and is based in Port Angeles, Washington.

How the Company Makes Money

First Northwest Bancorp generates revenue through several key streams, primarily interest income from loans and investments. The bank earns interest by lending funds to consumers and businesses, while also investing in securities. Additionally, FNWB generates non-interest income through fees for banking services, such as account maintenance, transaction services, and wealth management advisory services. The bank may also benefit from partnerships with local businesses and organizations, enhancing its service offerings and customer reach, which can contribute to a more stable revenue base. Overall, the company's financial performance is influenced by interest rate trends, loan demand, and the overall economic environment in its operating regions.

First Northwest Bancorp Financial Statement Overview

Summary

Income statement trends are the main weakness: profitability deteriorated from solid margins in 2020–2022 to losses in 2024 and TTM, with revenue growth turning negative in TTM. Balance sheet leverage is elevated (though improved recently), and ROE is negative. Cash flow is a relative bright spot with positive operating/free cash flow in 2024 and TTM, but it is volatile and sharply weaker in TTM.

Income Statement

Profitability has deteriorated meaningfully. The company moved from solid profitability in 2020–2022 (net margins ~17%–21%) to modest profit in 2023 (~2%), and then losses in 2024 and TTM (Trailing-Twelve-Months) (net margin ~-6%). Revenue growth also turned negative in TTM (Trailing-Twelve-Months) after being positive in prior years, pointing to weakening momentum. A positive is that revenue levels have held relatively steady since 2023, but margin compression and negative operating earnings are the key concern.

Balance Sheet

Leverage is elevated for a regional bank and has increased versus earlier years: debt-to-equity rose from ~0.6x in 2020–2021 to ~2.3x in 2024, before improving to ~1.8x in TTM (Trailing-Twelve-Months). Equity has been relatively stable, but returns on equity have turned negative in 2024 and TTM (Trailing-Twelve-Months), consistent with the net losses. The recent reduction in debt is a constructive sign, though profitability needs to recover to comfortably support the current balance sheet.

Cash Flow

Cash generation remains a relative bright spot: operating cash flow and free cash flow are positive in 2024 and TTM (Trailing-Twelve-Months). Free cash flow also roughly matches the scale of net income/loss in recent periods (near 1.0x), suggesting earnings quality is not the main issue. However, free cash flow growth is extremely volatile and sharply negative in TTM (Trailing-Twelve-Months), indicating inconsistent cash performance and limiting confidence in near-term durability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	118.31M	117.03M	104.92M	90.70M	79.31M	67.53M
Gross Profit	55.59M	44.52M	64.13M	78.66M	72.59M	54.76M
EBITDA	-7.79M	-6.14M	4.29M	18.40M	19.72M	14.95M
Net Income	-7.38M	-6.61M	2.29M	15.64M	15.42M	10.34M
Balance Sheet
Total Assets	2.11B	2.23B	2.20B	2.04B	1.92B	1.65B
Cash, Cash Equivalents and Short-Term Investments	298.30M	412.79M	418.79M	372.17M	470.23M	429.45M
Total Debt	289.69M	353.55M	327.36M	285.36M	119.28M	109.98M
Total Liabilities	1.96B	2.08B	2.04B	1.88B	1.73B	1.47B
Stockholders Equity	154.53M	153.88M	163.34M	161.57M	190.96M	186.38M
Cash Flow
Free Cash Flow	-582.00K	16.88M	16.30M	12.99M	9.14M	11.44M
Operating Cash Flow	-569.00K	16.88M	17.88M	15.90M	15.15M	13.26M
Investing Cash Flow	132.27M	-87.07M	-84.19M	-237.65M	-136.86M	-315.95M
Financing Cash Flow	-135.14M	19.47M	143.89M	141.32M	182.57M	319.11M

First Northwest Bancorp Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 10.43
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FNWB, the sentiment is Positive. The current price of 10.43 is above the 20-day moving average (MA) of 10.07, above the 50-day MA of 9.90, and above the 200-day MA of 8.74, indicating a bullish trend. The MACD of 0.26 indicates Negative momentum. The RSI at 58.66 is Neutral, neither overbought nor oversold. The STOCH value of 52.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FNWB.

First Northwest Bancorp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BOTJ	73 Outperform	$85.87M	10.85	10.86%	2.18%	6.17%	-6.13%
FUSB	72 Outperform	$84.48M	14.65	5.50%	2.08%	1.03%	-35.72%
UBCP	69 Neutral	$80.26M	10.70	10.91%	6.51%	6.31%	-5.00%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
BYFC	54 Neutral	$75.10M	-30.73	0.22%	―	2.54%	-174.74%
FNWB	50 Neutral	$98.69M	-21.48	-4.68%	2.88%	8.02%	21.36%
SSBI	45 Neutral	$91.34M	13.54	-1.41%	―	-0.81%	-129.22%

First Northwest Bancorp Corporate Events

First Northwest Bancorp Announces Executive Vice President Resignation

On February 4, 2026, Geraldine L. Bullard, Executive Vice President and Chief Operating Officer of First Fed Bank, a subsidiary of First Northwest Bancorp, resigned from the company to pursue other opportunities, after having joined in January 2020 and serving during her tenure as Interim Chief Executive Officer and Chief Financial Officer in addition to her current role. The company stated that her departure was not the result of any disagreement over operations, policies or practices, that there were no special arrangements or severance agreements tied to her resignation, and publicly expressed appreciation for her service and leadership, signaling an orderly executive transition without disclosed operational disruption.

The most recent analyst rating on (FNWB) stock is a Buy with a $13.50 price target. To see the full list of analyst forecasts on First Northwest Bancorp stock, see the FNWB Stock Forecast page.

First Northwest Bancorp Releases Q3 2025 Financial Review

On October 29, 2025, First Northwest Bancorp released a slide presentation reviewing its financial results and trends for the quarter and nine months ending September 30, 2025. This presentation was included in a Form 8-K filing and provides insights into the company’s financial performance during this period.

The most recent analyst rating on (FNWB) stock is a Hold with a $9.00 price target. To see the full list of analyst forecasts on First Northwest Bancorp stock, see the FNWB Stock Forecast page.