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First Northwest Bancorp (NASDAQ:FNWB), a financial institution with a market capitalization of $73.2 million, has announced a change in its independent registered public accounting firm due to a merger involving its previous auditor. The announcement, based on a recent SEC filing, indicates that Moss Adams LLP, the company’s former accounting firm, has merged with Baker Tilly US, LLP. As a result, Baker Tilly will now serve as the independent registered public accounting firm for First Northwest Bancorp.
The merger and subsequent change in auditors were effective as of June 3, 2025. The company’s Audit Committee has approved Baker Tilly as the successor to Moss Adams. According to the filing, Moss Adams’ audit reports on First Northwest Bancorp’s financial statements for the years ending December 31, 2024, and 2023 did not contain any adverse opinions or disclaimers, nor were they qualified or modified.
Throughout the years 2023 and 2024, and the interim period leading up to the merger, there were no disagreements between First Northwest Bancorp and Moss Adams concerning accounting principles, financial statement disclosures, or audit procedures. Furthermore, there were no reportable events that required disclosure under SEC regulations.
The company has provided Moss Adams, now part of Baker Tilly, with a copy of the SEC filing and requested a letter addressed to the Commission confirming the accuracy of the statements within the filing. This letter, dated June 3, 2025, is included as an exhibit in the SEC filing.
First Northwest Bancorp, based in Port Angeles, Washington, operates as a savings institution and is listed on the Nasdaq Stock Market. The company’s stock has experienced significant pressure, trading near its 52-week low of $8.16, with a 25% decline over the past six months. While currently showing weak financial health metrics, InvestingPro analysis suggests the company is slightly undervalued at current levels. Additionally, analysts project a return to profitability this year, with several more insights available through InvestingPro’s comprehensive analysis tools.
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