First Financial Northwest, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2021
January 27, 2022 at 09:15 am EST
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First Financial Northwest, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2021. For the fourth quarter, the company reported net interest income was USD 11.58 million compared to USD 10.65 million a year ago. Net income was USD 2.74 million compared to USD 2.65 million a year ago. Basic earnings per share from continuing operations was USD 0.3 compared to USD 0.28 a year ago. Diluted earnings per share from continuing operations was USD 0.29 compared to USD 0.28 a year ago.
For the full year, net interest income was USD 44.98 million compared to USD 40.47 million a year ago. Net income was USD 12.25 million compared to USD 8.56 million a year ago. Basic earnings per share from continuing operations was USD 0.3 compared to USD 0.28 a year ago. Diluted earnings per share from continuing operations was USD 0.29 compared to USD 0.28 a year ago.
First Financial Northwest, Inc. is the holding company for First Financial Northwest Bank (the Bank). The Bank focuses on its lending activities primarily on loans secured by commercial real estate, construction/land, first mortgages on one-to-four family residences, multifamily, and business lending. It offers secured consumer loans, including savings account loans, auto loans and home equity loans that include lines of credit and second mortgage term loans. It originates construction/land loans primarily to residential builders for the construction of single-family residences, condominiums, townhouses, multifamily properties and residential developments located in its market area. Its land development loans are generally made to builders for preparation of a building site. Its investment portfolio consists of mortgage-backed securities, municipal bonds, United States government agency obligations, and corporate bonds. It serves King, Snohomish, Pierce and Kitsap counties, Washington.