The bank maintains a thin capital buffer with an equity-to-assets ratio of 0.07, leaving limited flexibility to absorb potential credit impairments within its $2.1 billion asset base.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 |
|---|
| Cash & Short Term Investments | 377.21M | 90.68M | 412.79M | 418.79M | 372.17M | 470.23M | 429.45M | 364.32M | 289.29M | 26.7M | 252.88M | 290.51M | 344.07M | 197.93M | 237.74M | 260.64M | 35.75M |
| Cash & Due from Banks | 104.14M | 85.12M | 72.45M | 123.17M | 45.6M | 126.02M | 65.16M | 48.74M | 26.32M | 26.7M | 24.29M | 22.65M | 45.03M | 18.96M | 22.95M | 42.48M | 35.75M |
| Short Term Investments | 7.55M | 5.56M | 340.34M | 295.62M | 326.57M | 344.21M | 364.3M | 315.58M | 262.97M | 0 | 228.59M | 267.86M | 299.04M | 178.97M | 214.79M | 218.16M | 0 |
| Total Investments | 1.9B | 1.9B | 2.03B | 1.95B | 1.87B | 1.7B | 1.51B | 1.19B | 1.17B | 30.84M | 1.01B | 944.66M | 848.56M | 729.01M | 714.12M | 676.63M | 660.46M |
| Investments Growth % | -18.31% | -6.42% | 3.87% | 4.31% | 10.25% | 12.5% | 26.41% | 2.07% | 3695.43% | -96.94% | 6.63% | 11.32% | 16.4% | 2.09% | 5.54% | 2.45% | - |
| Long-Term Investments | 7.66B | 1.89B | 1.69B | 1.66B | 1.55B | 1.35B | 1.15B | 878.94M | 907.36M | 30.84M | 778.66M | 676.8M | 549.52M | 550.04M | 499.33M | 458.46M | 660.46M |
| Accounts Receivables | 7.05M | 6.5M | 8.16M | 7.89M | 6.74M | 5.29M | 6.97M | 3.93M | 4.05M | 0 | 3.02M | 2.8M | 2.55M | 2.27M | 2.33M | 2.54M | 2.49M |
| Goodwill & Intangibles | 4.06M | 4.08M | 4.36M | 4.88M | 4.98M | 4.46M | 2.12M | 871K | 1.04M | 1.09M | 986K | 998K | 1.19M | 1.27M | 1.43M | 1.87M | 2.49M |
| Goodwill | 1.06M | 1.06M | 1.08M | 1.09M | 1.09M | 1.18M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 3M | 3.01M | 3.28M | 3.79M | 3.89M | 3.28M | 2.12M | 871K | 1.04M | 1.09M | 986K | 998K | 1.19M | 1.27M | 1.43M | 1.87M | 2.49M |
| PP&E (Net) | 23.91M | 24.06M | 27.13M | 24.1M | 18.09M | 19.83M | 14.79M | 14.34M | 15.26M | 13.74M | 13.24M | 13.52M | 12.58M | 12.29M | 11.44M | 12.2M | 12.84M |
| Other Assets | 77.83M | 75.62M | 76.94M | 75.07M | 51.35M | 44.51M | 44.33M | 36.06M | 36.25M | 34.06M | 32.88M | 22.77M | 24.89M | 28.92M | 30.67M | 31.34M | 32.24M |
| Total Current Assets | 118.74M | 97.18M | 420.95M | 426.69M | 407.25M | 496.12M | 447.39M | 377.12M | 298.86M | 40.57M | 261.91M | 293.31M | 346.62M | 202.78M | 240.07M | 267.99M | 40.81M |
| Total Non-Current Assets | 2.01B | 2.01B | 1.81B | 1.78B | 1.63B | 1.42B | 1.21B | 930.21M | 959.9M | 1.18B | 825.76M | 714.08M | 588.18M | 592.52M | 542.88M | 503.87M | 708.04M |
| Total Assets | 2.13B | 2.11B | 2.23B | 2.2B | 2.04B | 1.92B | 1.65B | 1.31B | 1.26B | 1.22B | 1.09B | 1.01B | 936.8M | 795.29M | 784.51M | 771.86M | 748.85M |
| Asset Growth % | -14.79% | -5.56% | 1.37% | 7.82% | 6.3% | 16.12% | 26.54% | 3.86% | 3.55% | 11.77% | 7.68% | 7.82% | 17.79% | 1.37% | 1.64% | 3.07% | - |
| Return on Assets (ROA) | 0.23% | -0.19% | -0.3% | 0.11% | 0.79% | 0.86% | 0.7% | 0.7% | 0.57% | 0.29% | 0.49% | 0.41% | -0.59% | 0.34% | 0.3% | -0.26% | 0.52% |
| Accounts Payable | 280K | 1.22M | 3.29M | 3.4M | 455K | 393K | 53K | 373K | 521K | 0 | 208K | 189K | 265K | 262K | 288K | 316K | 315K |
| Total Debt | 344.41M | 324.58M | 353.55M | 327.36M | 285.36M | 119.28M | 109.98M | 112.93M | 136.55M | 144.1M | 77.43M | 80.67M | 90.03M | 105.13M | 100.03M | 100.03M | 100.03M |
| Net Debt | 240.27M | 239.47M | 281.1M | 204.19M | 239.76M | -6.74M | 44.82M | 64.19M | 110.23M | 117.4M | 53.13M | 58.02M | 45M | 86.17M | 77.08M | 57.56M | 64.28M |
| Long-Term Debt | 114.66M | 194.64M | 199.51M | 119.44M | 119.36M | 119.28M | 50M | 50M | 60M | 60M | 77.43M | 80.67M | 90.03M | 90.03M | 100.03M | 100.03M | 100.03M |
| Short-Term Debt | 213.5M | 113.5M | 136.5M | 201.5M | 166M | 0 | 59.98M | 62.93M | 76.55M | 84.1M | 0 | 0 | 0 | 15.1M | 0 | 0 | 0 |
| Other Liabilities | 30.2M | 25.73M | 33.25M | 30.8M | 1.38M | 1.11M | 1.12M | 1.15M | 1.09M | 624.14M | 1.14M | 1.04M | 932K | 1.04M | 668K | 541K | 460K |
| Total Current Liabilities | 1.82B | 1.71B | 1.83B | 1.88B | 1.76B | 1.61B | 1.42B | 1.08B | 1.03B | 354.48M | 831.38M | 738.65M | 655.16M | 622.12M | 603.57M | 591.05M | 569.71M |
| Total Non-Current Liabilities | 161.12M | 236.81M | 250.3M | 156.67M | 120.73M | 120.39M | 51.12M | 51.15M | 61.09M | 684.14M | 78.57M | 81.71M | 90.97M | 92.18M | 101.65M | 102.97M | 101.46M |
| Total Liabilities | 1.98B | 1.95B | 2.08B | 2.04B | 1.88B | 1.73B | 1.47B | 1.13B | 1.09B | 1.04B | 909.96M | 820.36M | 746.12M | 714.3M | 705.89M | 694.56M | 671.63M |
| Total Equity | 156.97M | 157.26M | 153.88M | 163.34M | 158.28M | 190.48M | 186.38M | 176.85M | 172.26M | 177.04M | 177.72M | 189.74M | 190.68M | 81M | 78.62M | 77.3M | 77.22M |
| Equity Growth % | -2.41% | 2.2% | -5.79% | 3.2% | -16.9% | 2.2% | 5.39% | 2.66% | -2.7% | -0.38% | -6.33% | -0.49% | 135.42% | 3.02% | 1.71% | 0.1% | - |
| Equity / Assets (Capital Ratio) | 7.36% | 7.46% | 6.89% | 7.42% | 7.75% | 9.92% | 11.27% | 13.53% | 13.69% | 14.56% | 16.34% | 18.78% | 20.35% | 10.18% | 10.02% | 10.01% | 10.31% |
| Return on Equity (ROE) | 3.14% | -2.69% | -4.17% | 1.42% | 8.97% | 8.18% | 5.69% | 5.16% | 4.07% | 1.87% | 2.79% | 2.1% | -3.75% | 3.34% | 2.97% | -2.54% | 5.04% |
| Book Value per Share | 17.65 | 16.47 | 17.57 | 18.27 | 17.31 | 20.64 | 19.82 | 17.82 | 16.51 | 16.54 | 15.91 | 15.75 | 14.61 | 6.69 | 6.50 | 6.39 | 6.38 |
| Tangible BV per Share | 17.19 | 16.04 | 17.07 | 17.72 | 16.77 | 20.16 | 19.60 | 17.73 | 16.41 | 16.44 | 15.82 | 15.66 | 14.52 | 6.59 | 6.38 | 6.23 | 6.17 |
| Common Stock | 95K | 95K | 93K | 96K | 97K | 100K | 102K | 107K | 112K | 118K | 119K | 127K | 131K | 0 | 0 | 0 | 0 |
| Additional Paid-in Capital | 93.85M | 93.8M | 93.36M | 95.78M | 95.51M | 96.13M | 97.41M | 102.02M | 105.83M | 111.11M | 112.06M | 122.59M | 126.81M | 0 | 0 | 0 | 0 |
| Retained Earnings | 91.71M | 91.7M | 97.2M | 107.35M | 114.42M | 103.01M | 92.66M | 86.16M | 81.61M | 78.6M | 77.52M | 77.3M | 74.57M | 79.66M | 77M | 74.68M | 76.64M |
| Accumulated OCI | -22.92M | -22.4M | -30.17M | -32.64M | -40.54M | 288K | 5.44M | -1.54M | -4.73M | -12.78M | -434K | 1.9M | 750K | 1.33M | 1.63M | 2.62M | 583K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
CRE concentration and margin compression
According to recent financial disclosures, FNWB's total assets have remained essentially flat at approximately $2.1 billion over the last ten quarters, suggesting that the bank's transition toward urban commercial lending has failed to generate meaningful balance sheet expansion or offset the contraction in its legacy mortgage business.
The lack of asset growth despite the bank's pivot into the competitive Seattle market indicates that new originations are likely being offset by runoff in the legacy portfolio. This stagnation suggests that the bank may be struggling to find high-quality lending opportunities that meet its risk-adjusted return hurdles in the current environment.
Based on reported figures, FNWB maintains a consistent equity-to-assets ratio of 0.07, which, while stable, provides a relatively thin cushion against potential credit impairments given the bank's high concentration in commercial real estate and the recent volatility in its quarterly earnings performance.
Maintaining a static capital ratio in the face of negative earnings suggests that the bank is not generating sufficient internal capital to support growth or absorb unexpected losses. Investors should monitor whether this capital level remains sufficient to satisfy regulatory scrutiny as the bank's risk profile shifts toward more volatile commercial segments.
As reported in financial statements, the bank holds approximately $1.9 billion in investment securities, representing the vast majority of its $2.1 billion asset base, which indicates a heavy reliance on the securities portfolio to manage liquidity rather than a traditional loan-funded balance sheet model.
This high concentration in securities suggests that the bank's liquidity profile is sensitive to interest rate fluctuations and the potential for unrealized losses within the portfolio. The reliance on these assets as a primary liquidity buffer may limit the bank's ability to pivot toward higher-yielding loan opportunities without incurring significant capital losses.
Based on the provided quarterly data, the bank's persistent 0.6% to 0.7% net interest margin, coupled with a high securities-to-asset ratio, suggests a structural duration mismatch that may leave the balance sheet vulnerable to further interest rate volatility and funding cost pressures in the coming quarters.
The bank's inability to expand its NIM despite a significant securities-heavy balance sheet implies that the yields on its assets are not keeping pace with the cost of funding. This mismatch warrants further investigation into the repricing characteristics of the loan book and the potential for continued margin compression if deposit costs remain elevated.
Quick answers to the most common questions about buying FNWB stock.
As of 2025, First Northwest Bancorp (FNWB) had total assets of $2.11B including $97.2M in current assets.
First Northwest Bancorp (FNWB) carries total debt of $324.6M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
First Northwest Bancorp (FNWB) has total shareholders' equity (book value) of $157.3M ($16.47 book value per share). Book value represents the net worth of the company belonging to common stock holders.
First Northwest Bancorp (FNWB) reported a current ratio of 0.06x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.