First Northwest Bancorp · NASDAQ:FNWB
First Northwest Bancorp — Shareholder Meeting (May 2019)
20 slides from First Northwest Bancorp's shareholder meeting presentation, May 10, 2019
Slide 1: 2019 Annual Shareholders' Meeting
Exhibit 99.1 NASDAQ: FNWB First Northwest Bancorp 2019 Annual Shareholders’ Meeting Port Angeles, Washington | May 7, 2019
Slide 2: Safe Harbor Statement
Safe Harbor Statement Forward-Looking Statements When used in this presentation the words or phrases “believes,” “expects,” “anticipates,” “estimates” or similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995
Slide 3: Strategic Plan and Performance
Strategic Plan and Performance Accomplishments • Continued earning asset • Share Repurchases diversification • Shareholder Dividends • Improved Company performance Challenges • Improve earnings • Manage liquidity and capital • Focus on commercial lending • Expense control • Grow and maintain a low c
Slide 4: Leadership: Board of Directors
Leadership Board of Directors Director Name Board Title Since1 Stephen E. Oliver Chairman of the Board 2001 David A. Blake Vice Chairman of the Board 2005 David T. Flodstrom Director 2002 Laurence J. Hueth Director, President and Chief Executive Officer 2010 Jennifer Zaccardo Director 2011 Cindy H.
Slide 5: Leadership: Senior Management Team
Leadership Senior Management Team Years with Years in Name Title Company1 Industry Larry Hueth President and Chief Executive Officer 10 35 Regina Wood EVP, Chief Financial Officer 12 12 Kelly Liske EVP, Chief Banking Officer 12 23 Terry Anderson EVP, Chief Credit Officer 1 34 EVP, Chief Operations O
Slide 6: Economic Conditions
Economic Conditions Source: Employment Security Department Washington State 6 esd.wa.gov
Slide 7: Employment by County
Employment by County Economic Conditions NonFarm Covered Employment by County, Average for the Periods Presented Figures above are based on covered employment data for Washington counties, less NAICS code 11, provided by the Washington Employment Security Department at https://esd.wa.gov/labormarket
Slide 8: Locations
Locations Olympic Peninsula Port Angeles Administration (T) P Downtown (T) P Sixth Street Eastside Sequim Sequim Avenue Sequim Village Forks Port Townsend Puget Sound Expansion Silverdale Bellingham Bellingham/Fairhaven P Bainbridge Island P Mortgage Loan Center Seattle (T) – Technology service loca
Slide 9: Balance Sheet Assets
Balance Sheet Assets At the periods presented (dollars in millions) Total Assets Loans Receivable, net Investment Securities $400 $350 Net Loans to Investments to $300 Period Assets Assets $250 $200 6/30/16 61.4% 32.1% $150 $100 6/30/17 66.8% 25.8% $50 12/31/17 64.1% 28.0% $- 6/30/2016 6/30/2017 12/
Slide 10: Loan Diversification
Loan Diversification At the periods presented Portfolio Geographic December 31, 2017 December 31, 2017 Other States Home Equity Other Consumer Other 5% 4% Washington 6% 4% Commercial Real Estate North Olympic 26% Peninsula Single Family 37% Residential Multifamily 45% 9% Puget Sound 53% Construction
Slide 11: Asset Quality and Reserves
Asset Quality and Reserves At the periods presented Nonperforming Assets to Total Assets Nonperforming Loans to Total Loans ALLL to Nonperforming Loans ALLL to Total Loans 11
Slide 12: Balance Sheet Liabilities
Balance Sheet Liabilities At the periods presented (dollars in millions) Deposits Borrowings Net Loans Borrowings to to Total Period Deposits Assets 6/30/2016 85.7% 8.0% 6/30/2017 88.2% 7.1% 12/31/2017 88.0% 11.9% 12/31/2018 91.9% 10.8% 12
Slide 13: Deposit Diversification
Deposit Diversification At the periods presented Geographic Product December 31, 2017 Noninterest Certificates of bearing checking Deposit 17% 27% Interest bearing checking 13% Money Market Savings 31% 12% 13
Slide 14: Deposit Expansion
Deposit Expansion At the periods presented (dollars in millions) Branch Locations December 31, 2017 Deposits by Branch Clallam County Forks Port Angeles 6th Street Eastside Sequim Sequim Village Sequim Avenue Jefferson County Port Townsend December 31, 2018 Deposits by Branch Kitsap County Silverdal
Slide 15: Balance Sheet Equity
Balance Sheet Equity At the periods presented (dollars in millions) FNWB Shareholders’ Equity 6/30/2016 6/30/2017 12/31/2017 12/31/2018 $189.7 $177.7 $177.0 $172.3 15
Slide 16: Earnings Comparison
Earnings Comparison of the fiscal years ended June 30, 2016 and 2017, and the calendar years ended December 31, 2017 and 2018.* (dollars in millions) Net Income Net Interest Income Noninterest Income Noninterest Expense *In order to compare like periods, 12/31/2017 includes 01/01/2017 to 06/30/17, i
Slide 17: Earnings Comparison: Returns and EPS
Earnings Comparison of the fiscal years ended June 30, 2016 and 2017, and the calendar years ended December 31, 2017 and 2018.* (dollars in millions) Return on Average Assets Return on Average Equity Basic Earnings Per Share *In order to compare like periods, 12/31/2017 includes 01/01/2017 to 06/30/
Slide 18: Quarterly Updates
Quarterly Updates At or for the quarters presented (dollars in thousands) FNWB Quarterly Performance 3/31/2018 12/31/2018 3/31/2019 Total Assets $ 1,189,585 $ 1,258,758 $ 1,278,789 Net loans Receivable $ 798,828 $ 863,852 $ 883,195 Total Liabilities $ 1,016,083 $ 1,086,494 $ 1,105,382 Total Equity $
Slide 19: Stock Price
Stock Price First Northwest Bancorp (NASDAQ: FNWB) At the period ended: 12/31/2018 12/31/2017 6/30/2017 12/31/2016 Common Shares Outstanding (actual) 11,170,018 11,785,507 11,902,146 12,153,946 Basic Book Value per Share $ 15.42 $ 15.02 $ 14.93 $ 14.55 52 Week Price per Share Highlights High March 2
Slide 20: Thank You
Thank You 20
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