NasdaqGM:FNWB

Stock Analysis Report

First Northwest Bancorp

Executive Summary

First Northwest Bancorp operates as a bank holding company for First Federal Savings and Loan Association of Port Angeles that provides commercial and consumer banking services to individuals, businesses, and nonprofit organizations in western Washington, the United States.

Rewards

Earnings grew by 26.9% over the past year

Risk Analysis

No risks detected for FNWB from our risk checks.


Snowflake Analysis

Flawless balance sheet with proven track record.

Share Price & News

How has First Northwest Bancorp's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FNWB has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.2%

FNWB

0.5%

US Banks

1.5%

US Market


1 Year Return

6.5%

FNWB

12.1%

US Banks

20.1%

US Market

Return vs Industry: FNWB underperformed the US Banks industry which returned 12.1% over the past year.

Return vs Market: FNWB underperformed the US Market which returned 20.1% over the past year.


Shareholder returns

FNWBIndustryMarket
7 Day1.2%0.5%1.5%
30 Day-2.9%-1.3%1.4%
90 Day-4.5%1.2%8.7%
1 Year7.3%6.5%15.4%12.1%22.7%20.1%
3 Year7.3%6.2%25.2%16.2%50.1%40.5%
5 Year36.9%35.6%75.9%55.9%73.1%54.1%

Price Volatility Vs. Market

How volatile is First Northwest Bancorp's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is First Northwest Bancorp undervalued compared to its fair value and its price relative to the market?

18.43x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: FNWB ($16.96) is trading above our estimate of fair value ($3.6)

Significantly Below Fair Value: FNWB is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: FNWB is poor value based on its PE Ratio (18.4x) compared to the Banks industry average (12.6x).

PE vs Market: FNWB is poor value based on its PE Ratio (18.4x) compared to the US market (18.4x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate FNWB's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: FNWB is good value based on its PB Ratio (0.9x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is First Northwest Bancorp forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

2.2%

Forecasted Banks industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as First Northwest Bancorp has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has First Northwest Bancorp performed over the past 5 years?

45.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FNWB has high quality earnings.

Growing Profit Margin: FNWB's current net profit margins (20.4%) are higher than last year (17.1%).


Past Earnings Growth Analysis

Earnings Trend: FNWB's earnings have grown significantly by 45% per year over the past 5 years.

Accelerating Growth: FNWB's earnings growth over the past year (26.9%) is below its 5-year average (45% per year).

Earnings vs Industry: FNWB earnings growth over the past year (26.9%) exceeded the Banks industry 12.1%.


Return on Equity

High ROE: FNWB's Return on Equity (5.1%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is First Northwest Bancorp's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: FNWB has a low level of unsold assets or inventory.

Debt Coverage by Assets: FNWB's debt is not covered by short term assets (assets are 0.6x debt).


Financial Institutions Analysis

Asset Level: FNWB's level of assets compared to its equity is low.

Allowance for Bad Loans: FNWB has a sufficient allowance for bad loans.

Low Risk Liabilities: FNWB's liabilities are made up of primarily low risk sources of funding.

Loan Level: FNWB has an acceptable proportion of non-loan assets held.

Low Risk Deposits: FNWB's loans are broadly funded by customer deposits.

Level of Bad Loans: FNWB has an appropriate level of bad loans (0.2%)


Next Steps

Dividend

What is First Northwest Bancorp's current dividend yield, its reliability and sustainability?

1.18%

Current Dividend Yield


Upcoming Dividend Payment

Purchase First Northwest Bancorp before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company1.2%marketbottom25%1.4%markettop25%3.7%industryaverage2.8%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: FNWB's dividend (1.18%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.44%).

High Dividend: FNWB's dividend (1.18%) is low compared to the top 25% of dividend payers in the US market (3.69%).


Stability and Growth of Payments

Stable Dividend: Too early to tell whether FNWB's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if FNWB's dividend payments are increasing as they only just started paying a dividend.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (14.1%), FNWB's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.3yrs

Average management tenure


CEO

Matt Deines (46yo)

1.2yrs

Tenure

0

Mr. Matthew P. Deines, also known as Matt, serves as President, Chief Executive Officer & Director at First Northwest Bancorp since December 5, 2019. He is President and Chief Executive Officer of First Fe ...


Leadership Team

NamePositionTenureCompensationOwnership
Regina Wood
Executive VP6.9yrsUS$262.66k0.36% $602.9k
Matthew Deines
President1.2yrsno data0.42% $712.3k
Christopher Riffle
Executive VP1.3yrsno data0.24% $403.8k
Tyanna Gadbaw
VP & Ops. Electronic Delivery Manager - First Federal Savings and Loan Association of Port Angeles0yrsno datano data
Michelle Catton
VP and Bus. Intell. & Sys. App. Mngr. - First Federal Savings and Loan Association of Port Angeles0yrsno datano data
Lisa Due
VP & Retail Operations Manager - First Federal Savings and Loan Association of Port Angeles0yrsno datano data
Jackie Gold
VP & Loan Operations Manager - First Federal Savings and Loan Association of Port Angeles0yrsno datano data
Diane Harrison
VP and Org. Learning & Dev. Manager - First Federal Savings and Loan Association of Port Angeles0yrsno datano data
Christie Sharpe
VP & Controller of First Federal Savings & Loan Association of Port Angeles0yrsno datano data
Kent Sommerfeld
VP & Facilities Manager - First Federal Savings and Loan Association of Port Angeles0yrsno datano data

1.3yrs

Average Tenure

46yo

Average Age

Experienced Management: FNWB's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Matthew Deines
President1.2yrsno data0.42% $712.3k
Stephen Oliver
Chairman of the Board5.1yrsUS$40.20k0.23% $390.3k
David Blake
Vice Chairman of the Board6.3yrsUS$35.21k0.25% $421.8k
Cindy Finnie
Independent Director8.1yrsUS$37.00k0.27% $461.3k
David Flodstrom
Independent Director18.1yrsUS$37.05k0.20% $331.0k
Jennifer Zaccardo
Independent Director9.1yrsUS$35.89k0.32% $530.8k
Dana Behar
Independent Director4.3yrsUS$32.89k0.14% $237.4k
Norman Tonina
Independent Director6.3yrsUS$32.89k0.26% $442.2k
Craig Curtis
Independent Director6.1yrsUS$32.07k0.22% $372.7k

6.3yrs

Average Tenure

67yo

Average Age

Experienced Board: FNWB's board of directors are considered experienced (6.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: FNWB insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

First Northwest Bancorp's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: First Northwest Bancorp
  • Ticker: FNWB
  • Exchange: NasdaqGM
  • Founded: 1923
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$168.362m
  • Shares outstanding: 9.93m
  • Website: https://www.ourfirstfed.com

Number of Employees


Location

  • First Northwest Bancorp
  • 105 West 8th Street
  • Port Angeles
  • Washington
  • 98362
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FNWBNasdaqGM (Nasdaq Global Market)YesCommon StockUSUSDJan 2015
45IDB (Deutsche Boerse AG)YesCommon StockDEEURJan 2015

Biography

First Northwest Bancorp operates as a bank holding company for First Federal Savings and Loan Association of Port Angeles that provides commercial and consumer banking services to individuals, businesses, and nonprofit organizations in western Washington, the United States. The company offers various deposit instruments, including checking accounts, money market deposit accounts, savings accounts, transaction accounts, and certificates of deposit. Its lending activities comprise one- to four-family mortgage loans, commercial and multi-family real estate loans, construction and land loans, and commercial business loans, as well as consumer loans primarily consisting of automobile loans, and home-equity loans and lines of credit. The company operates through 13 banking locations, which include 10 full-service banking offices; 2 banking locations primarily serving its customers through interactive teller machines; and 1 home lending center. First Northwest Bancorp was founded in 1923 and is based in Port Angeles, Washington. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/17 00:37
End of Day Share Price2020/02/14 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.