Earnings release
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Exhibit 99.1 PORT ANGELES, Wash., October 29, 2026 (GLOBE NEWSWIRE) First Northwest Bancorp Reports Third Quarter 2026 Financial Results First Northwest Bancorp (Nasdaq: FNWB) ("First Northwest" or the "Company"), the holding company for First Fed Bank ("First Fed" or the "Bank"), today reported its financial results for the third quarter and nine months ended September 30, 2026. The Company reported a net loss of $743,000 for the third quarter of 2026, compared to net income of $308,000 for the second quarter of 2026 and net income of $802,000 for the third quarter of 2025. Basic and diluted loss per share were $0.08 for the third quarter of 2026, compared to basic and diluted income per share of $0.03 for the second quarter of 2026 and basic and diluted income per share of $0.09 for the third quarter of 2025. Management Outlook; President and Chief Executive Officer, Curt Queyrouze: "We are encouraged by the continued momentum in our core banking franchise during the third quarter, including stable net interest income, modest net interest margin expansion and growth in customer deposits. These results reflect the progress we are making to enhance our funding mix and strengthen the balance sheet. Although reported results were affected by a higher provision for credit losses and the settlement of a previously disclosed legal matter, nonperforming loans declined and allowance coverage improved. With a stable capital position and several strategic and operational initiatives underway, we believe we are building a stronger foundation for improved profitability and long-term shareholder value." 2026 FINANCIAL RESULTS 3Q 26 2Q 26 3Q 25 2026 YTD 2025 YTD OPERATING RESULTS (in millions) Net (loss) income $ (0.7) $ 0.3 $ 0.8 $ (0.4) $ (4.6) Net interest income 14.3 14.2 14.6 42.9 42.6 Provision for credit losses 0.7 (0.5) (0.7) 0.3 6.8 Noninterest income 2.2 2.0 2.0 6.2 7.9 Noninterest expense 17.3 16.4 17.4 50.4 50.2 PER SHARE DATA Basic and diluted (loss) earnings $ (0.08) $ 0.03 $ 0.09 $ (0.05) $ (0.52) Book value 15.65 16.66 16.33 15.65 16.33 Tangible book value (1) 15.52 16.52 16.18 15.52 16.18 BALANCE SHEET (in millions) Total assets $ 2,143 $ 2,125 $ 2,111 $ 2,143 $ 2,111 Total securities available for sale 310 287 283 310 283 Total loans 1,594 1,613 1,623 1,594 1,623 Total customer deposits 1,576 1,549 1,549 1,576 1,549 Total brokered deposits 59 59 104 59 104 Total shareholders' equity 149 158 155 149 155 ASSET QUALITY Annualized net charge-offs to average outstanding loans 0.11% 0.04% 0.37% 0.07% 0.90% Nonperforming assets to total assets 0.98 1.05 0.70 0.98 0.70 Allowance for credit losses on loans to total loans 1.03 1.01 1.00 1.03 1.00 Nonaccrual loan coverage ratio 82.41 78.68 121.17 82.41 121.17 (1) Non-GAAP financial measure; see "Additional Information - Non-GAAP Financial Measures" later in this release for definitions and a reconciliation to the mostcomparable GAAP financial measure. Third Quarter Insights: • Growth of $27.0 million in customer deposits during the current quarter improved the funding mix. • Additional investment security purchases during the third quarter of 2026 drove the increase in total assets and partially offset a decline in total loans from the preceding quarter. • Net interest margin improved to 2.96% for the current quarter compared to 2.95% in the second quarter of 2026, and 2.91% for the third quarter of 2025. • First Fed remains well capitalized with a total risk-based capital ratio of 13.3% for the current quarter, 13.4% for the second quarter of 2026, and 13.7% for the third quarter of 2025. 1
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Selected Quarterly Financial Ratios: As of or For the Quarter Ended As of or For the Nine Months Ended September 30, September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 2026 2025 Performance ratios: (1) Return on average assets -0.14% 0.06% 0.00% 0.07% 0.15% -0.03% -0.28% Return on average equity -1.87 0.78 0.02 0.96 2.10 -0.36 -4.03 Net interest margin (2) 2.96 2.95 3.03 3.00 2.91 2.98 2.83 Efficiency ratio (3) 105.0 101.3 101.4 92.0 104.9 102.6 99.2 Equity to total assets 6.95 7.45 7.36 7.46 7.32 6.95 7.32 Tangible performance ratios: (1) Tangible common equity to tangible assets (4) 6.89% 7.39% 7.30% 7.40% 7.26% 6.89% 7.26% Return on average tangible common equity (4) -1.89 0.79 0.02 0.97 2.12 -0.37 -4.07 Capital ratios (First Fed): (5) Tier 1 leverage 9.6% 9.6% 9.6% 9.5% 9.3% 9.6% 9.3% Common equity Tier 1 12.3 12.4 12.4 12.5 12.7 12.3 12.7 Total risk-based 13.3 13.4 13.5 13.6 13.7 13.3 13.7 (1) Performance ratios are annualized, where appropriate.(2) Net interest income divided by average interest-earning assets.(3) Total noninterest expense as a percentage of net interest income and total other noninterest income. (4) Non-GAAP financial measure; see "Additional Information - Non-GAAP Financial Measures" later in this release for definitions and a reconciliation to the mostcomparable GAAP financial measure.(5) Current period capital ratios are preliminary and subject to finalization of the FDIC Call Report. Net Interest Income and Margin Total interest income increased $134,000 to $25.6 million for the third quarter of 2026, compared to $25.5 million for the preceding quarter, and decreased $1.3 million compared to $26.9 million in the third quarter of 2025. Interest income increased during the third quarter of 2026 primarily due to 2026 purchases of investment securities. Average investment securities balances and yields increased compared to the preceding quarter as a result of these purchases. Average consumer and commercial business loan balances increased while average real estate loan balances decreased over the preceding quarter. The yield on interest-earning assets was flat at 5.30% for both the second and third quarters of 2026 as additional income from higher-yielding investment securities and deposits in banks offset a small decline in interest from loans receivable. Total interest expense was flat at $11.3 million for the second and third quarters of 2026, and decreased $1.1 million compared to $12.3 million in the third quarter of 2025. The deposit mix changed in the third quarter of 2026 with slightly higher rates paid on customer deposits offset by lower average balances on borrowings. As a result of third quarter changes, the total cost of funds decreased 1 basis point to 2.41% compared to the preceding quarter. The net interest margin increased to 2.96% for the third quarter of 2026, from 2.95% for the preceding quarter and increased from 2.91% for the third quarter of 2025. Noninterest Income and Expense Noninterest income increased $169,000 to $2.2 million for the third quarter of 2026, compared to $2.0 million for the second quarter of 2026. The increase was primarily due to a nonrecurring gain recognized upon exercising a historic tax credit partnership redemption option, partially offset by a decline in the valuation of servicing rights on sold loans. Noninterest expense increased $922,000 to $17.3 million for the third quarter of 2026, compared to $16.4 million for the preceding quarter. The increase was primarily due to a nonrecurring $1.3 million expense for the settlement of the litigation previously disclosed in the Company’s Form 8-K filed September 18, 2026. This increase was partially offset by lower consulting fees recorded in professional fees. Legal fees remain elevated due to the timing of the settlement in the quarter and the Company’s defense of other ongoing legal matters. 2
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Allowance for Credit Losses on Loans ("ACLL") and Credit Quality The ACLL increased $79,000 to $16.4 million at September 30, 2026, from $16.3 million at June 30, 2026. The ACLL as a percentage of total loans was 1.03% at September 30, 2026, an increase from 1.01% at June 30, 2026, and an increase from 1.00% at September 30, 2025. A $532,000 loan provision expense for the quarter ended September 30, 2026, was the result of $453,000 in net charge-offs and a $264,000 increase in reserves on individually evaluated loans, partially offset by a $185,000 decrease in the overall pooled loan reserve. The change in pooled loan reserve was driven by lower loss factors applied to multi-family and auto loans combined with decreased loan balances in commercial business loans. Nonperforming loans decreased $842,000 to $19.9 million at September 30, 2026, from $20.7 million at June 30, 2026. Current quarter activity included principal payments totaling $1.4 million and net charge-offs on nonperforming loans totaling $419,000. The decreases were partially offset by the transition into nonaccrual status of loans totaling $1.0 million across multiple loan categories. ACLL to nonperforming loans increased slightly to 82% at September 30, 2026, from 79% at June 30, 2026, reflecting a higher ACLL balance and lower nonperforming loan balances. Classified loans increased $593,000 to $26.1 million at September 30, 2026, from $25.5 million at June 30, 2026, primarily due to $2.5 million of new downgrades across multiple loan categories. The increase was partially offset by principal payments totaling $1.4 million and net charge-offs totaling $419,000. Four collateral-dependent loans totaling $17.4 million account for 67% of the classified loan balance at September 30, 2026. 3
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For the Quarter Ended ACLL ($ in thousands) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Balance at beginning of period $ 16,309 $ 16,823 $ 16,987 $ 16,203 $ 18,345 Charge-offs: Commercial real estate — — (3) (329) (656) Construction and land (110) (200) (171) (1,027) (483) Auto and other consumer (171) (125) (276) (123) (106) Commercial business (273) (34) (133) (964) (1,005) Total charge-offs (554) (359) (583) (2,443) (2,250) Recoveries: Commercial real estate — — — — 6 Auto and other consumer 91 109 50 34 47 Commercial business 10 73 382 2,727 675 Total recoveries 101 182 432 2,761 728 Net loan (charge-offs) recoveries (453) (177) (151) 318 (1,522) Provision for (recapture of) credit losses on loans 532 (337) (13) 466 (620) Balance at end of period $ 16,388 $ 16,309 $ 16,823 $ 16,987 $ 16,203 Average total loans $ 1,578,190 $ 1,604,872 $ 1,613,526 $ 1,622,476 $ 1,650,340 Annualized net charge-offs (recoveries) to average outstanding loans 0.11% 0.04% 0.04% -0.08% 0.37% Asset Quality ($ in thousands) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Nonaccrual loans: One-to-four family $ 1,608 $ 1,627 $ 2,521 $ 2,272 $ 2,345 Multi-family 17 — — — — Commercial real estate 9,213 9,449 9,619 9,745 3,439 Construction and land 3,598 4,164 4,164 5,146 6,037 Home equity 158 159 53 53 9 Auto and other consumer 1,018 1,332 1,280 1,086 1,072 Commercial business 4,274 3,997 4,062 4,293 470 Total nonaccrual loans 19,886 20,728 21,699 22,595 13,372 Other real estate owned 1,101 1,568 1,380 1,380 1,377 Total nonperforming assets $ 20,987 $ 22,296 $ 23,079 $ 23,975 $ 14,749 Nonaccrual loans as a % of total loans 1.25% 1.28% 1.33% 1.39% 0.82% Nonperforming assets as a % of total assets (1) 0.98 1.05 1.08 1.14 0.70 ACLL as a % of total loans 1.03 1.01 1.03 1.04 1.00 ACLL as a % of nonaccrual loans 82.41 78.68 77.53 75.18 121.17 Total past due loans to total loans 1.44 1.09 1.18 1.21 0.88 (1) Nonperforming assets consists of nonperforming loans (which include nonaccruing loans and accruing loans more than 90 days past due), other real estate owned and repossessed assets. 4
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Financial Condition and Capital Continued disciplined balance sheet management and deposit growth resulted in reduced reliance on higher-cost brokered deposits while maintaining stable capital levels. Investment securities increased $23.2 million, or 8.1%, to $310.2 million at September 30, 2026, compared to $287.0 million three months earlier, and increased $27.6 million compared to $282.6 million at September 30, 2025. Purchases totaling $44.4 million were partially offset by an $11.9 million increase in net unrealized losses, maturities totaling $4.4 million and regular principal payments totaling $4.9 million during the third quarter of 2026. The estimated average life of the securities portfolio was approximately 6.9 years at September 30, 2026, 6.4 years at the preceding quarter end and 6.9 years at the end of the third quarter of 2025. The effective duration of the portfolio was approximately 4.2 years at September 30, 2026, compared to 4.6 years at the preceding quarter end and 4.8 years at the end of the third quarter of 2025. Investment Securities ($ in thousands) September 30, 2026 June 30, 2026 September 30, 2025 Three Month % Change One Year % Change Available for Sale at Fair Value Municipal bonds $ 72,758 $ 79,990 $ 79,621 -9.0% -8.6% U.S. government agency issued asset-backed securities (ABS agency) 11,170 11,371 12,169 -1.8 -8.2 Corporate issued asset-backed securities (ABS corporate) 21,088 6,615 9,881 218.8 113.4 Corporate issued debt securities (Corporate debt) 60,191 50,991 43,339 18.0 38.9 U.S. Small Business Administration securities (SBA) 4,923 5,362 6,977 -8.2 -29.4 Mortgage-backed securities: U.S. government agency issued mortgage- backed securities (MBS agency) 91,217 95,002 94,203 -4.0 -3.2 Non-agency issued mortgage-backed securities (MBS non-agency) 48,841 37,697 36,418 29.6 34.1 Total securities available for sale $ 310,188 $ 287,028 $ 282,608 8.1 9.8 Net loans receivable, excluding loans held for sale, decreased $19.9 million, or 1.2%, to $1.58 billion at September 30, 2026, from $1.60 billion at June 30, 2026, and decreased $30.6 million, or 1.9%, from $1.61 billion one year prior. Construction loans that converted into fully amortizing loans during the quarter totaled $2.4 million. Regular payments of $34.0 million, loan payoffs of $42.4 million and charge-offs totaling $554,000 outpaced new loan funding totaling $58.1 million and draws on existing loans totaling $18.0 million. Participation in the Northpointe Bank Mortgage Purchase Program ("Northpoint Bank MPP") decreased $20.0 million while purchased consumer loans increased $322,000 during the current quarter. Loans ($ in thousands) September 30, 2026 June 30, 2026 September 30, 2025 Three Month % Change One Year % Change Real Estate: One-to-four family $ 353,620 $ 357,077 $ 382,486 -1.0% -7.5% Multi-family 245,236 255,813 296,321 -4.1 -17.2 Commercial real estate 420,161 402,798 396,519 4.3 6.0 Construction and land 62,491 61,697 67,793 1.3 -7.8 Total real estate loans 1,081,508 1,077,385 1,143,119 0.4 -5.4 Consumer: Home equity 94,171 90,014 86,629 4.6 8.7 Auto and other consumer 296,217 294,982 280,224 0.4 5.7 Total consumer loans 390,388 384,996 366,853 1.4 6.4 Commercial business 122,031 151,000 113,160 -19.2 7.8 Total loans receivable 1,593,927 1,613,381 1,623,132 -1.2 -1.8 Less: Derivative basis adjustment 353 (10) (896) 3,630.0 139.4 Allowance for credit losses on loans 16,388 16,309 16,203 0.5 1.1 Total loans receivable, net $ 1,577,186 $ 1,597,082 $ 1,607,825 -1.2 -1.9 5
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Total deposits increased $27.0 million to $1.63 billion at September 30, 2026, compared to $1.61 billion at June 30, 2026, and decreased $18.9 million compared to $1.65 billion one year prior. During the third quarter of 2026, total customer deposit balances increased $27.0 million and there was no change in brokered deposit balances. The customer deposit mix reflects increased average CD, money market and demand account balances while average balances of savings accounts decreased compared to the preceding quarter. The rates paid on customer interest-bearing deposits increased 7 basis points to 2.39% for the current quarter, compared to 2.32% for the second quarter of 2026. The deposit mix compared to September 30, 2025, reflects an increase in average balances of customer accounts to CD, savings and money market accounts, with an overall $29.6 million increase to average total customer balances. A $45.2 million decrease in the average balance of brokered CDs was the main driver for the year-over-year decrease in total deposits. Rates paid on total interest-bearing deposit accounts decreased 14 basis points compared to the same quarter one year ago. Deposits ($ in thousands) September 30, 2026 June 30, 2026 September 30, 2025 Three Month % Change One Year % Change Noninterest-bearing demand deposits $ 253,385 $ 244,699 $ 255,366 3.5% -0.8% Interest-bearing demand deposits 146,932 147,019 146,373 -0.1 0.4 Money market accounts 466,782 462,208 475,614 1.0 -1.9 Savings accounts 243,962 241,711 232,831 0.9 4.8 Certificates of deposit, customer 464,732 453,140 438,780 2.6 5.9 Certificates of deposit, brokered 58,615 58,615 104,363 0.0 -43.8 Total deposits $ 1,634,408 $ 1,607,392 $ 1,653,327 1.7 -1.1 Total shareholders’ equity decreased to $148.8 million at September 30, 2026, compared to $158.3 million three months earlier, due to decreases in the after-tax fair market values of the available-for-sale investment securities portfolio of $9.3 million and a net loss of $743,000, partially offset by the after-tax fair value of the investment portfolio hedge of $332,000. No shares of common stock were repurchased under the Company's April 2024 Stock Repurchase Plan (the "Repurchase Plan") during the quarter ended September 30, 2026. There are 846,123 shares that remain available for repurchase under the Repurchase Plan. Capital levels for both the Company and the Bank remain in excess of applicable requirements and the Bank was categorized as "well- capitalized" at September 30, 2026. Preliminary calculations of Common Equity Tier 1 and Total Risk-Based Capital Ratios at September 30, 2026, for the Bank were 12.3% and 13.3%, respectively. 2026 Awards/Recognition Forbes Best-in-State Banks Sound Publishing: Bellingham Best of the Northwest - Best Bank Gold Best Bank in Clallam County Best Lender in the West End 6
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About the Company First Northwest Bancorp (Nasdaq: FNWB) is a financial holding company engaged in investment activities including the business of its subsidiary, First Fed Bank. First Fed is a Pacific Northwest-based financial institution which has served its customers and communities since 1923. Currently First Fed has 16 locations in Washington state including 11 full-service branches. First Fed’s business and operating strategy is focused on building sustainable earnings by delivering a full array of financial products and services for individuals, small businesses, non-profit organizations and commercial customers. First Northwest has also strategically invested in partnerships focused on developing modern financial solutions and a boutique investment banking/accelerator firm. These investments underscore the Company’s commitment to innovation and growth in the financial services sector. First Northwest Bancorp was incorporated in 2012 and completed its initial public offering in 2015 under the ticker symbol FNWB. The Company is headquartered in Port Angeles, Washington. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, expectations of the business environment in which we operate, projections of future performance and execution on certain strategies, perceived opportunities in the market, potential future credit experience, including our ability to collect, and include, but are not limited to, statements about our plans, objectives, expectations and intentions that are not historical facts, and other statements often identified by words such as "believes," "expects," "anticipates," "estimates," or similar expressions. These forward-looking statements are based upon current management beliefs and expectations and may, therefore, involve risks and uncertainties, many of which are beyond our control. Our actual results, performance, or achievements may differ materially from those suggested, expressed, or implied by forward-looking statements as a result of a wide variety of factors including, but not limited to: increased competitive pressures; changes in the interest rate environment; the credit risks of lending activities; pressures on liquidity, including as a result of withdrawals of deposits, declines in the value of our investment portfolio or changes in interest rates; risks related to overall economic conditions; geopolitical events; legislative, regulatory, and policy changes; legal proceedings, regulatory investigations and their resolutions; and other factors described in the Company’s latest Annual Report on Form 10-K under the section entitled "Risk Factors," and other filings with the Securities and Exchange Commission ("SEC"), which are available on our website at www.ourfirstfed.com and on the SEC’s website at www.sec.gov. Any of the forward-looking statements that we make in this press release and in the other public statements we make may turn out to be incorrect because of the inaccurate assumptions we might make, because of the factors illustrated above or because of other factors that we cannot foresee. Because of these and other uncertainties, our actual future results may be materially different from those expressed or implied in any forward-looking statements made by or on our behalf and the Company's operating and stock price performance may be negatively affected. Therefore, these factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. We do not undertake and specifically disclaim any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law. These risks could cause our actual results for 2026 and beyond to differ materially from those expressed in or implied by any forward-looking statements by, or on behalf of, us and could negatively affect the Company’s operations and stock price performance. For More Information Contact: Curt Queyrouze, President and Chief Executive Officer Phyllis Nomura, Chief Financial Officer and EVP IRGroup@ourfirstfed.com 360-457-0461 7
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FIRST NORTHWEST BANCORP AND SUBSIDIARY CONSOLIDATED BALANCE SHEETS (Dollars in thousands, except share data) (Unaudited) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 ASSETS Cash and due from banks $ 17,986 $ 14,649 $ 16,548 $ 15,530 $ 15,688 Interest-earning deposits in banks 85,639 83,709 87,588 69,587 63,482 Investment securities available for sale, at fair value (amortized cost at each period end of $348,325, $313,215, $299,707, $295,849 and $310,545) 310,188 287,028 272,985 270,310 282,608 Loans held for sale 300 1,286 1,140 1,063 2,154 Loans receivable (net of allowance for credit losses on loans at each period end of $16,388, $16,309, $16,823, $16,987, and $16,203) 1,577,186 1,597,082 1,612,979 1,612,028 1,607,825 Federal Home Loan Bank (FHLB) stock, at cost 13,211 13,279 13,927 13,105 10,856 Accrued interest receivable 8,197 7,181 7,051 6,498 8,160 Premises and equipment, net 9,270 9,160 8,591 8,464 8,788 Servicing rights on sold loans, at fair value 2,776 3,012 2,999 3,014 3,093 Bank-owned life insurance ("BOLI"), net 43,762 43,305 42,850 42,382 41,889 Equity and partnership investments 15,331 15,441 15,452 15,489 15,048 Goodwill and other intangible assets, net 1,062 1,062 1,062 1,062 1,080 Deferred tax asset, net 16,937 13,664 13,898 13,638 14,168 Right-of-use ("ROU") asset, net 14,975 15,057 15,316 15,596 15,494 Prepaid expenses and other assets 25,742 19,920 21,057 20,129 21,040 Total assets $ 2,142,562 $ 2,124,835 $ 2,133,443 $ 2,107,895 $ 2,111,373 LIABILITIES AND SHAREHOLDERS' EQUITY Deposits $ 1,634,408 $ 1,607,392 $ 1,601,582 $ 1,599,101 $ 1,653,327 Borrowings 311,694 313,177 328,160 308,143 259,625 Accrued interest payable 145 151 280 1,223 1,145 Lease liability, net 15,968 16,039 16,250 16,439 16,071 Accrued expenses and other liabilities 28,795 28,260 27,514 24,301 24,321 Advances from borrowers for taxes and insurance 2,716 1,503 2,691 1,424 2,356 Total liabilities 1,993,726 1,966,522 1,976,477 1,950,631 1,956,845 Shareholders' Equity Preferred stock, $0.01 par value, authorized 5,000,000 shares, no shares issued or outstanding — — — — — Common stock, $0.01 par value, 75,000,000 shares authorized; issued and outstanding at each period end: 9,508,205; 9,504,441; 9,499,300; 9,467,925; and 9,462,150 95 95 95 95 94 Additional paid-in capital 94,075 93,986 93,854 93,803 93,646 Retained earnings 91,272 92,015 91,707 91,699 91,317 Accumulated other comprehensive loss, net of tax (31,165) (22,177) (22,920) (22,398) (24,429) Unearned employee stock ownership plan (ESOP) shares (5,441) (5,606) (5,770) (5,935) (6,100) Total shareholders' equity 148,836 158,313 156,966 157,264 154,528 Total liabilities and shareholders' equity $ 2,142,562 $ 2,124,835 $ 2,133,443 $ 2,107,895 $ 2,111,373 8
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FIRST NORTHWEST BANCORP AND SUBSIDIARY CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in thousands, except per share data) (Unaudited) For the Quarter Ended For the Nine Months Ended September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 September 30, 2026 September 30, 2025 INTEREST INCOME Interest and fees on loans receivable $ 21,815 $ 21,997 $ 22,000 $ 22,431 $ 22,814 $ 65,812 $ 67,859 Interest on investment securities 3,067 2,723 2,585 2,971 3,244 8,375 10,513 Interest on deposits in banks 464 453 467 473 570 1,384 1,572 FHLB dividends 243 282 282 262 282 807 920 Total interest income 25,589 25,455 25,334 26,137 26,910 76,378 80,864 INTEREST EXPENSE Deposits 8,493 8,033 7,930 8,648 9,083 24,456 28,372 Borrowings 2,778 3,249 2,964 2,799 3,258 8,991 9,883 Total interest expense 11,271 11,282 10,894 11,447 12,341 33,447 38,255 Net interest income 14,318 14,173 14,440 14,690 14,569 42,931 42,609 PROVISION FOR CREDIT LOSSES Provision for (recapture of) credit losses on loans 532 (337) (13) 466 (620) 182 6,854 Provision for (recapture of) credit losses on unfunded commitments 207 (203) 91 97 (53) 95 (102) Provision for (recapture of) credit losses 739 (540) 78 563 (673) 277 6,752 Net interest income after provision for (recapture of) credit losses 13,579 14,713 14,362 14,127 15,242 42,654 35,857 NONINTEREST INCOME Loan and deposit service fees 1,150 1,107 1,122 1,044 1,114 3,379 3,315 Sold loan servicing fees and servicing rights mark-to-market (47) 162 127 57 85 242 372 Net gain (loss) on sale of loans 40 73 76 96 (39) 189 16 Increase in BOLI cash surrender value 457 455 468 493 539 1,380 1,396 Income from BOLI death benefit, net — — — — — — 1,059 Other income 574 208 215 2,000 303 997 1,791 Total noninterest income 2,174 2,005 2,008 3,690 2,002 6,187 7,949 NONINTEREST EXPENSE Compensation and benefits 8,185 8,054 8,232 8,042 8,353 24,471 20,766 Data processing 1,943 1,702 2,228 1,990 1,941 5,873 5,878 Occupancy and equipment 1,512 1,538 1,565 1,539 1,505 4,615 4,604 Supplies, postage, and telephone 305 384 298 332 344 987 988 Regulatory assessments and state taxes 548 581 534 688 558 1,663 1,538 Advertising 278 245 304 290 282 827 846 Professional fees 1,915 2,305 2,026 1,957 2,668 6,246 4,894 FDIC insurance premium 381 387 363 424 411 1,131 1,308 Legal settlement 1,300 — — — (10) 1,300 5,740 Other expense 948 1,197 1,134 1,640 1,338 3,279 3,593 Total noninterest expense 17,315 16,393 16,684 16,902 17,390 50,392 50,155 (Loss) income before (benefit from) provision for income taxes (1,562) 325 (314) 915 (146) (1,551) (6,349) (Benefit from) provision for income taxes (819) 17 (320) 533 (948) (1,122) (1,776) Net (loss) income $ (743) $ 308 $ 6 $ 382 $ 802 $ (429) $ (4,573) Basic and diluted (loss) earnings per common share $ (0.08) $ 0.03 $ - $ 0.04 $ 0.09 $ (0.05) $ (0.52) Diluted weighted average common shares outstanding 8,903,832 8,930,663 8,894,998 8,860,060 8,813,632 8,877,432 8,779,708 9
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FIRST NORTHWEST BANCORP AND SUBSIDIARY ADDITIONAL INFORMATION (Dollars in thousands) (Unaudited) Selected Loan Detail September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Construction and land loans breakout 1-4 Family construction $ 13,994 $ 5,682 $ 18,802 $ 21,954 $ 29,961 Multifamily construction 18,584 14,826 12,144 10,109 15,660 Nonresidential construction 24,952 35,749 25,758 23,005 16,484 Land and development 4,961 5,440 5,643 6,200 5,688 Total construction and land loans $ 62,491 $ 61,697 $ 62,347 $ 61,268 $ 67,793 Auto and other consumer loans breakout Triad Manufactured Home loans $ 133,054 $ 131,367 $ 131,406 $ 132,287 $ 133,425 Woodside auto loans 153,421 152,748 147,444 137,678 131,800 First Help auto loans 5,632 6,430 7,570 8,491 9,561 Other auto loans 257 346 468 586 767 Other consumer loans 3,853 4,091 4,072 4,460 4,671 Total auto and other consumer loans $ 296,217 $ 294,982 $ 290,960 $ 283,502 $ 280,224 Commercial business loans breakout Northpointe Bank MPP $ 24,644 $ 44,602 $ 41,951 $ 18,941 $ - Secured lines of credit 24,747 34,485 40,991 39,783 43,081 Unsecured lines of credit 2,597 2,953 3,351 2,901 2,580 SBA loans 6,724 6,818 5,505 5,645 6,347 Other commercial business loans 63,319 62,142 60,793 63,041 61,152 Total commercial business loans $ 122,031 $ 151,000 $ 152,591 $ 130,311 $ 113,160 Loans by Collateral and Unfunded Commitments September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 One-to-four family construction $ 19,639 $ 20,583 $ 18,571 $ 23,815 $ 31,627 All other construction and land 42,852 41,873 44,000 37,334 36,161 One-to-four family first mortgage 401,389 425,021 440,576 431,222 415,670 One-to-four family junior liens 19,018 19,986 21,169 21,003 20,568 One-to-four family revolving open-end 68,531 62,411 57,027 56,365 58,486 Commercial real estate, owner occupied: Health care 31,244 31,522 28,177 28,488 28,794 Office 21,182 22,895 18,953 19,216 18,499 Warehouse 9,202 9,270 7,549 7,608 7,684 Other 74,961 71,064 72,556 71,313 73,562 Commercial real estate, non-owner occupied: Office 40,034 36,297 36,657 40,311 40,917 Retail 51,685 52,465 53,519 50,494 50,839 Hospitality 63,005 62,352 62,729 63,113 63,953 Other 121,306 113,320 115,367 112,307 106,991 Multi-family residential 246,270 256,853 272,025 289,581 297,379 Commercial business loans 55,173 61,958 61,247 66,264 68,062 Commercial agriculture and fishing loans 31,886 30,197 27,982 25,842 23,346 State and political subdivision obligations 333 333 333 333 369 Consumer automobile loans 159,316 159,519 155,443 146,708 142,064 Consumer loans secured by other assets 135,280 133,899 133,825 134,826 136,073 Consumer loans unsecured 1,621 1,563 1,691 1,969 2,088 Total loans $ 1,593,927 $ 1,613,381 $ 1,629,396 $ 1,628,112 $ 1,623,132 Unfunded commitments under lines of credit or existing loans $ 169,974 $ 164,614 $ 166,899 $ 167,489 $ 158,118 10
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FIRST NORTHWEST BANCORP AND SUBSIDIARY NET INTEREST MARGIN ANALYSIS (Unaudited) Three Months Ended September 30, 2026 June 30, 2026 September 30, 2025 Average Interest Average Interest Average Interest Balance Earned/ Yield/ Balance Earned/ Yield/ Balance Earned/ Yield/ (dollars in thousands) Outstanding Paid Rate Outstanding Paid Rate Outstanding Paid Rate Interest-earning assets: Loans receivable, net (1) (2) $ 1,561,983 $ 21,815 5.54% $ 1,588,321 $ 21,997 5.55% $ 1,632,684 $ 22,814 5.54% Total investment securities 294,960 3,067 4.13 276,147 2,723 3.96 293,723 3,244 4.38 FHLB dividends 9,943 243 9.70 12,020 282 9.41 12,810 282 8.73 Interest-earning deposits in banks 49,136 464 3.75 48,783 453 3.72 50,150 570 4.51 Total interest-earning assets (3) 1,916,022 25,589 5.30 1,925,271 25,455 5.30 1,989,367 26,910 5.37 Noninterest-earning assets 143,191 143,007 146,042 Total average assets $ 2,059,213 $ 2,068,278 $ 2,135,409 Interest-bearing liabilities: Interest-bearing demand deposits $ 142,597 $ 99 0.28 $ 141,339 $ 83 0.24 $ 141,469 $ 52 0.15 Money market accounts 466,389 2,642 2.25 455,356 2,451 2.16 464,265 2,832 2.42 Savings accounts 241,159 974 1.60 243,735 921 1.52 231,431 914 1.57 Certificates of deposit, customer 461,588 4,189 3.60 449,938 4,024 3.59 443,312 4,175 3.74 Certificates of deposit, brokered 58,745 589 3.98 51,788 554 4.29 103,959 1,110 4.24 Total interest-bearing deposits (4) 1,370,478 8,493 2.46 1,342,156 8,033 2.40 1,384,436 9,083 2.60 Advances 204,364 2,159 4.19 252,230 2,633 4.19 265,554 2,913 4.35 Subordinated debt 34,685 619 7.08 34,668 616 7.13 34,617 345 3.95 Total interest-bearing liabilities 1,609,527 11,271 2.78 1,629,054 11,282 2.78 1,684,607 12,341 2.91 Noninterest-bearing deposits (4) 249,784 237,762 251,448 Other noninterest-bearing liabilities 42,502 43,529 47,978 Total average liabilities 1,901,813 1,910,345 1,984,033 Average equity 157,400 157,933 151,376 Total average liabilities and equity $ 2,059,213 $ 2,068,278 $ 2,135,409 Net interest income $ 14,318 $ 14,173 $ 14,569 Net interest rate spread 2.52 2.52 2.46 Net earning assets $ 306,495 $ 296,217 $ 304,760 Net interest margin (5) 2.96 2.95 2.91 Average interest-earning assets to average interest- bearing liabilities 119.0% 118.2% 118.1% (1) The average loans receivable, net balances include nonaccrual loans. (2) Interest earned on loans receivable includes net deferred costs of $841,000, $775,000 and $410,000 for the three months ended September 30, 2026, June 30, 2026 and September 30, 2025, respectively. (3) Includes interest-earning deposits (cash) at other financial institutions. (4) Cost of all deposits, including noninterest-bearing demand deposits, was 2.08%, 2.04%, and 2.20% for the three months ended September 30, 2026, June 30, 2026 and September 30, 2025, respectively. (5) Net interest income divided by average interest-earning assets. 11
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FIRST NORTHWEST BANCORP AND SUBSIDIARY ADDITIONAL INFORMATION (Unaudited) Non-GAAP Financial Measures This press release contains financial measures that are not in conformity with generally accepted accounting principles in the United States of America ("GAAP"). Non-GAAP financial measures are presented where management believes the information will help investors understand the Company’s results of operations or financial position and assess trends. Where non-GAAP financial measures are used, the comparable GAAP financial measure is also provided. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, and are not necessarily comparable to non-GAAP performance measures that may be presented by other companies. Other banking companies may use names similar to those the Company uses for the non-GAAP financial measures the Company discloses, but may calculate them differently. Investors should understand how the Company and other companies each calculate their non-GAAP financial measures when making comparisons. Reconciliations of the GAAP and non- GAAP measures are presented below. Calculations Based on Tangible Common Equity: For the Quarter Ended For the Nine Months Ended ($ in thousands, except per share data) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 September 30, 2026 September 30, 2025 Total shareholders' equity $ 148,836 $ 158,313 $ 156,966 $ 157,264 $ 154,528 $ 148,836 $ 154,528 Less: Goodwill and other intangible assets 1,062 1,062 1,062 1,062 1,080 1,062 1,080 Disallowed non-mortgage loan servicing rights 226 247 312 302 317 226 317 Total tangible common equity $ 147,548 $ 157,004 $ 155,592 $ 155,900 $ 153,131 $ 147,548 $ 153,131 Total assets $2,142,562 $2,124,835 $2,133,443 $2,107,895 $ 2,111,373 $2,142,562 $ 2,111,373 Less: Goodwill and other intangible assets 1,062 1,062 1,062 1,062 1,080 1,062 1,080 Disallowed non-mortgage loan servicing rights 226 247 312 302 317 226 317 Total tangible assets $2,141,274 $2,123,526 $2,132,069 $2,106,531 $2,109,976 $2,141,274 $2,109,976 Average shareholders' equity $ 157,400 $ 157,933 $ 159,532 $ 157,588 $ 151,376 $ 158,281 $ 151,538 Less: Average goodwill and other intangible assets 1,062 1,062 1,062 1,080 1,081 1,062 1,081 Average disallowed non-mortgage loan servicing rights 247 311 302 317 371 286 403 Total average tangible common equity $ 156,091 $ 156,560 $ 158,168 $ 156,191 $ 149,924 $ 156,933 $ 150,054 Net (loss) income $ (743) $ 308 $ 6 $ 382 $ 802 $ (429) $ (4,573) Common shares outstanding 9,508,205 9,504,441 9,499,300 9,467,925 9,462,150 9,508,205 9,462,150 GAAP Ratios: Equity to total assets 6.95% 7.45% 7.36% 7.46% 7.32% 6.95% 7.32% Return on average equity -1.87% 0.78% 0.02% 0.96% 2.10% -0.36% -4.03% Book value per common share $ 15.65 $ 16.66 $ 16.52 $ 16.61 $ 16.33 $ 15.65 $ 16.33 Non-GAAP Ratios: Tangible common equity to tangible assets (1) 6.89% 7.39% 7.30% 7.40% 7.26% 6.89% 7.26% Return on average tangible common equity (1) -1.89% 0.79% 0.02% 0.97% 2.12% -0.37% -4.07% Tangible book value per common share (1) $ 15.52 $ 16.52 $ 16.38 $ 16.47 $ 16.18 $ 15.52 $ 16.18 (1) We believe that the use of tangible equity and tangible assets improves the comparability to other institutions that have not engaged in acquisitions that resulted in recorded goodwill and other intangibles. 12