First Federal Savings and Loan Association of Port Angeles Legally Changes Name to First Fed Bank
PORT ANGELES, Wash., Nov. 05, 2021 (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ: FNWB), the holding company for First Fed, confirms that its subsidiary has completed a legal name change from First Federal Savings and Loan Association of Port Angeles to First Fed Bank as of October 31, 2021.
“As we prepare to commemorate our 100th anniversary in 2023, we wanted our company name to set the stage for our next 100 years,” stated Matt Deines, President and CEO of First Fed. “Our customers and employees already call us First Fed, so our new legal name was a natural progression.”
At the same time, First Fed has converted from a State Savings Bank Charter to a State Commercial Bank Charter. The regulatory structure change aligns with the bank’s current business model and provides a foundation for future growth.
About the Company
First Northwest Bancorp is a bank holding company that primarily engages in the business activity of its subsidiary, First Fed. First Fed is a community-oriented financial institution which has served customers and communities since 1923. Currently First Fed has 16 locations in Washington state including 12 full-service branches, 2 business centers, and 2 ITMs. First Fed’s business and operating strategy is focused on building sustainable earnings through hiring experienced bankers, geographic expansion, diversifying our loan product mix, expanding our deposit product offerings that deliver value-added solutions, enhancing existing services and digital service delivery channels, and enhancing our infrastructure to support the changing needs and expectations of our customers.
Matthew P. Deines
President & CEO