Fed Announces Closure of Bellevue Branch in 2026
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 23h ago
0mins
First Fed will permanently close its Bellevue branch, located at 1100 Bellevue Way Northeast in Bellevue, Washington, on April 30, 2026. "Customer preferences continue to evolve, and we are seeing that, for this location, the use of online and mobile banking services continues to become more prevalent than in-person visits," said Curt Queyrouze. "Closing this branch allows us to focus on streamlined delivery channels that are convenient, secure and bring innovative banking solutions to our markets." This closure is expected to reduce future annual operating expenses by approximately $900,000.
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Analyst Views on FNWB
Wall Street analysts forecast FNWB stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FNWB is 13.50 USD with a low forecast of 13.50 USD and a high forecast of 13.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 10.720
Low
13.50
Averages
13.50
High
13.50
Current: 10.720
Low
13.50
Averages
13.50
High
13.50
About FNWB
First Northwest Bancorp is a bank holding company and a financial holding company. The Company is engaged in banking activities through its wholly owned subsidiary, First Fed Bank (the Bank), as well as certain non-banking financial activities. The Bank operates in 18 locations, including twelve full-service branches and six business centers, including its headquarters, located in Clallam, Jefferson, King, Kitsap, Snohomish, and Whatcom counties. The Bank’s principal lending activities are concentrated in real estate secured loans with first lien one-to-four family mortgages, commercial, and multifamily loans. It also makes construction and land loans, commercial business loans, and consumer loans, consisting primarily of home-equity loans and lines of credit. It also offers traditional consumer and business deposit products, including transaction accounts, savings and money market accounts and certificates of deposit for individuals and businesses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
First Northwest Bancorp Q4 Financial Highlights
- Earnings Per Share: First Northwest Bancorp reported a GAAP EPS of $0.04 for Q4, with revenue at $18.38 million, indicating challenges in revenue growth despite maintaining profitability.
- Net Interest Margin Improvement: The net interest margin increased to 3.00% from 2.91% in Q3 2025, primarily due to a decrease in interest rates on liabilities, reflecting the company's effective cost management strategies.
- Deposit Cost Reduction: The cost of total deposits fell to 2.12% from 2.20% in the previous quarter, driven by the maturity of higher-rate CDs and adjustments in deposit product rates, showcasing the company's responsiveness to market rate changes.
- Stable Capital Ratios: Risk-based capital ratios remained stable at 13.6%, compared to 13.7% in Q3 2025, indicating the company's solid capital management and resilience in maintaining regulatory compliance.
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First Northwest Bancorp Board Member Retires, Impacting Corporate Governance
- Board Transition: Norman J. Tonina officially retired on December 9, 2025, after 12 years of service on the First Northwest Bancorp Board, with Board Chair Cindy Finnie expressing gratitude for his critical role in the executive recruitment process.
- Leadership Succession: During his tenure, Tonina led the recruitment of CEO Curt Queyrouze, ensuring stability in leadership for the company’s future, which highlights the Board's thoughtful approach to succession planning.
- Strategic Planning: The Board, through the Nominating and Corporate Governance Committee, is actively engaged in succession planning and director recruitment efforts to maintain efficiency and transparency in the company's governance structure moving forward.
- Company Background: First Northwest Bancorp has been serving the Pacific Northwest since 1923, currently operating 17 locations and focusing on providing a full array of financial products and services for individuals, small businesses, and non-profits, demonstrating its commitment to innovation and growth in the financial services sector.
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