First Financial Northwest reports Q3 EPS (7c) vs. 17c last year
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 29 2024
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Financial Performance Overview: As of September 30, 2024, net loans receivable decreased to $1.13 billion, with a slight decline in book value per share to $17.39. The bank maintained strong credit quality with nonaccrual loans at only 0.07% of total loans.
Future Transactions and Credit Quality: A provision for credit losses of $1.6 million was recorded, contrasting with previous recaptures, while the bank prepares for a pending transaction with Global Federal Credit Union, awaiting final approval from the National Credit Union Administration.
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.
