First Northwest Bancorp EVP Henderson buys $23k in shares

First Northwest Bancorp (NASDAQ:FNWB) Executive Vice President, Chief Credit Officer Kyle David Henderson, recently purchased 3,000 shares of common stock amid the bank’s challenging period, with shares down 26% over the past six months. The transactions, which occurred on July 28, 2025, involved a weighted average price of $7.7367 per share, resulting in a total value of $23,210. According to InvestingPro analysis, the $69.31M market cap bank is currently trading below its Fair Value, though it faces profitability challenges.

Following the transaction, Henderson directly owns 16,271 shares of First Northwest Bancorp, including 1,400 unvested shares of restricted stock, one-half of which will vest on September 7, 2025; 5,000 unvested shares of restricted stock, one-half of which will vest annually beginning on July 7, 2026; and 2,883 unvested shares of restricted stock, one-third of which will vest annually beginning on March 7, 2026. InvestingPro data reveals the bank’s overall financial health score as weak, with several additional insights available to subscribers.

In other recent news, First Northwest Bancorp has been navigating several significant developments. The company announced a leadership change, with President and CEO Matthew P. Deines set to resign effective July 12, 2025, following a mutual agreement. Geraldine L. Bullard, the current Chief Operating Officer, will step in as Interim CEO while continuing her COO duties. Additionally, Piper Sandler has maintained a Neutral rating on First Northwest Bancorp, with a price target of $8.00, following the CEO transition announcement.

First Northwest Bancorp’s banking subsidiary, First Fed Bank, has entered into a settlement agreement to resolve legal disputes connected to bankruptcy proceedings involving several borrowers. This agreement aims to settle an adversary proceeding and other related claims from bankruptcy filings in 2024. Furthermore, First Northwest Bancorp is facing a $106 million lawsuit filed by 3|5|2 Capital GP LLC, alleging the bank’s involvement in a fraudulent scheme orchestrated by Water Station Management, LLC. The lawsuit claims that funds raised from a bond offering were misappropriated for purposes other than business expansion.

In corporate governance news, First Northwest Bancorp has appointed Diane C. Davis to its Board of Directors. Davis brings over 25 years of leadership experience in the insurance industry and previously served on the board of First Financial Northwest (NASDAQ:FFNW) Bancorp.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.