First Northwest Bancorp Appoints Johanna Bartee to Board of Directors

First Northwest Bancorp appoints Johanna Bartee to its Board, enhancing community and financial expertise.

Quiver AI Summary

First Northwest Bancorp and its subsidiary First Fed Bank have appointed Johanna Bartee to their Board of Directors, recognizing her extensive background in banking, finance, and economic development, along with her strong commitment to community initiatives on the North Olympic Peninsula. Johanna, the Executive Director of JST Capital, has experience in institutional and investment banking and project management, including work for a Department of Defense contractor. Her board roles, such as with the Clallam County Opportunity Fund, reflect her dedication to economic growth. This appointment aligns with First Fed’s goal to enhance its leadership with professionals focused on social and economic impact, continuing its long-standing tradition of serving communities in Washington since 1923.

Potential Positives

• Johanna Bartee's appointment to the Board of Directors brings extensive banking and finance experience, enhancing the company's leadership and strategic capabilities.
• Her commitment to community-driven initiatives aligns with First Northwest Bancorp's mission, potentially strengthening relationships with local customers and stakeholders.
• Ms. Bartee's background in Native Community Development Financial Institutions positions First Fed Bank to enhance its focus on supporting underserved communities.
• The announcement reinforces First Fed Bank's reputation as a recognized workplace and its recent awards, boosting its brand perception and attractiveness to potential customers and employees.

Potential Negatives

• The press release highlights the need for leadership strengthening amid ongoing economic challenges, potentially indicating existing weaknesses in the Board prior to Ms. Bartee's appointment.
• There is no mention of specific challenges or goals for the company moving forward, which could raise concerns about strategic direction and transparency.
• The appointment of a new board member may signal instability or turnover in leadership if it comes after recent departures or changes not disclosed in the release.

FAQ

Who is Johanna Bartee?

Johanna Bartee is the newly appointed member of the Board of Directors for First Northwest Bancorp and its subsidiary First Fed Bank.

What experience does Johanna Bartee bring to the Board?

Ms. Bartee has extensive experience in banking, finance, economic development, and community initiatives across the North Olympic Peninsula.

What is First Northwest Bancorp's focus?

First Northwest Bancorp focuses on delivering a full array of financial products and services and building sustainable earnings.

How many locations does First Fed Bank have?

First Fed Bank operates 18 locations in Washington state, including 12 full-service branches.

What recognition has First Fed Bank received?

First Fed Bank was named a Best Workplace and a top Corporate Philanthropist by Puget Sound Business Journal in 2023 and 2024.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$FNWB Insider Trading Activity

$FNWB insiders have traded $FNWB stock on the open market 2 times in the past 6 months. Of those trades, 2 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $FNWB stock by insiders over the last 6 months:

• SEAN PATRICK BRENNAN purchased 2,000 shares for an estimated $21,400
• MATTHEW DEINES (President / CEO) purchased 2,100 shares for an estimated $20,559

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$FNWB Hedge Fund Activity

We have seen 15 institutional investors add shares of $FNWB stock to their portfolio, and 24 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

• PACIFIC RIDGE CAPITAL PARTNERS, LLC removed 220,556 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $2,249,671
• PRIVATE CAPITAL MANAGEMENT, LLC removed 137,136 shares (-20.2%) from their portfolio in Q4 2024, for an estimated $1,398,787
• MANUFACTURERS LIFE INSURANCE COMPANY, THE removed 120,174 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $1,285,861
• BRANDYWINE GLOBAL INVESTMENT MANAGEMENT, LLC removed 61,784 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $630,196
• BLACKROCK, INC. added 33,242 shares (+26.3%) to their portfolio in Q4 2024, for an estimated $339,068
• JACOBS LEVY EQUITY MANAGEMENT, INC removed 32,710 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $333,642
• FNY INVESTMENT ADVISERS, LLC added 27,202 shares (+inf%) to their portfolio in Q4 2024, for an estimated $277,460

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Full Release

PORT ANGELES, Wash., Feb. 26, 2025 (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ: FNWB) and its subsidiary First Fed Bank are pleased to announce the appointment of Johanna Bartee to the Board of Directors for both companies.

Ms. Bartee brings extensive experience in banking, finance, and economic development, along with a strong commitment to community-driven initiatives across the North Olympic Peninsula.

“We are thrilled to welcome Johanna to our Board of Directors,” said Matt Deines, President and CEO of First Fed Bank and FNWB. “Her expertise in finance and community development will be invaluable as we continue to serve our customers and communities.”

Ms. Bartee is the Executive Director of JST Capital, a Native Community Development Financial Institution (CDFI) in Sequim, WA, dedicated to supporting underserved communities. Before founding JST Capital in 2018, she built a successful career in finance, working in institutional banking, investment banking, and business development roles at leading financial firms in New York and Southern California. Prior to completing an MBA at Columbia Business School, she managed large-scale communications and IT security projects as an Account Manager for a Department of Defense contractor in Honolulu, Hawaii.

Beyond her professional achievements, Ms. Bartee is actively involved in community development. She serves as a Board Director for the Clallam County Opportunity Fund and is a member of the Port Angeles Waterfront District Board, advocating for economic growth and revitalization initiatives.

Ms. Bartee’s appointment reflects First Fed’s commitment to strengthening its leadership with professionals dedicated to fostering economic and social impact.

About FNWB

First Northwest Bancorp (Nasdaq: FNWB) is a financial holding company engaged in investment activities including the business of its subsidiary, First Fed Bank. First Fed is a Pacific Northwest-based financial institution which has served its customers and communities since 1923. Currently First Fed has 18 locations in Washington state including 12 full-service branches. First Fed’s business and operating strategy is focused on building sustainable earnings by delivering a full array of financial products and services for individuals, small businesses, non-profit organizations and commercial customers. In 2022, First Northwest made an investment in The Meriwether Group, LLC, a boutique investment banking and accelerator firm. Additionally, First Northwest focuses on strategic partnerships to provide modern financial services such as digital payments and marketplace lending. First Northwest Bancorp was incorporated in 2012 and completed its initial public offering in 2015 under the ticker symbol FNWB. First Fed is headquartered in Port Angeles, Washington.

First Fed Bank was recognized by Puget Sound Business Journal as a Best Workplace in 2023 and top Corporate Philanthropist in 2023 and 2024. By popular vote, First Fed received 2024 awards for Best Bank and Best Lender in Best of the Peninsula for Clallam County. First Fed is a Member FDIC and equal housing lender.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.