Jay Johnston and David Sharon Join First Northwest Bancorp as Commercial Relationship Managers

Port Angeles, Washington, UNITED STATES

PORT ANGELES, Wash., Jan. 14, 2020 (GLOBE NEWSWIRE) -- First Northwest Bancorp (NASDAQ: FNWB) (“Company”), the holding company for First Federal Savings and Loan Association of Port Angeles (“First Federal”), today announced that Jay Johnston and David Sharon joined First Federal’s management team as Commercial Relationship Managers.  Both will play an integral role in supporting the strategic direction of our franchise.

“Jay Johnston brings more than 15 years of in-depth experience in C&I and commercial real estate lending, and we are delighted to have him join our team,” said Terry Anderson, EVP/Chief Credit Officer.  “Jay is a proven top producer in his field and will be based out of our Bellingham office.”  Johnston previously served as Vice President, Commercial Bank Officer at Bank of the Pacific and was one of their top producers.  He holds a B.A. in Economics/Political Science from Western Washington University – Cum Laude.

“David Sharon joins us with over 20 years of banking experience, specializing in commercial real estate and construction lending.  I have had the pleasure of working with David for nearly 10 years and welcome him to our team,” said Matt Deines, President & CEO.  “David produced the highest volume of commercial loans at Sound Community Bank and was directly responsible for building a commercial loan portfolio that grew to $330 million through September 2019, from $47 million in June 2008, while maintaining excellent credit quality. David will work from our Seattle Lending Center and will lead our continued commercial loan growth in King County.”  Sharon holds a B.A. in Industrial Management from Oregon Institute of Technology.

About the Company

First Northwest Bancorp, a Washington corporation, is the bank holding company for First Federal Savings and Loan Association of Port Angeles. First Federal is a Washington state-chartered mutual savings bank primarily serving communities in Western Washington State with thirteen banking locations - eight located within Clallam and Jefferson counties, two in Kitsap County, two in Whatcom County, and a home lending center in King County.

Forward Looking Statements

Certain matters discussed in this press release may contain 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, perceived opportunities in the market, potential future credit experience, and statements regarding our mission and vision. These forward-looking statements are based upon current management expectations and may, therefore, involve risks and uncertainties. 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 or range of factors including, but not limited to: increased competitive pressures; changes in the interest rate environment; the credit risks of lending activities; changes in general economic conditions and conditions within the securities markets; legislative and regulatory changes; and other factors described in the Company’s latest Annual Report on Form 10-K 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. These risks could cause our actual results for 2019 and beyond to differ materially from those expressed in any forward-looking statements by, or on behalf of, us and could negatively affect the Company’s operations and stock price performance.

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