First Northwest Bancorp is a US-listed company in the regional banks industry. Its financial year ends in December.
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Revenue for the twelve months to June 2026 was $68m, up 3.6% on a year earlier, against a decline of 3.8% a quarter earlier. That puts it 168 of 190 for growth among the regional banks companies we cover.
Our model value for First Northwest Bancorp is under review, so past values are not shown until it is resolved.
Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
First Northwest Bancorp's trailing-twelve-month revenue grew 3.6% year on year, with a free-cash-flow margin of 24.0%. Where it stands out: change in growth rate of +7.4pp ranks 29 of 244 regional banks companies we cover. Where it lags: net margin of 2.2% ranks 234 of 245 regional banks companies we cover.
Current signal Results well short of expectations: Reported earnings per share missed the analysts' consensus estimate by 170% in the quarter to 2026-09-30.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Third-party market data · may be delayed
Company announcements, filed results and changes that matter to shareholders.
No model value for First Northwest Bancorp at the moment. Current status: valuation models disagree too widely to rate. Available reported financials are shown below.
The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.
We value First Northwest Bancorp as a bank or lender, with every model that fits that kind of business. Cost of equity 7.9%: the 10-year Treasury yield (4.9%) plus a beta of 0.66 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | ~$6.3 ~$3.6–$10 | Primary model, counts double |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | ~$2.7 ~$2.4–$3.1 | Left out: far from the other models (more than 3x away from their median) |
| Price-to-book vs return on equity (peers) The price-to-book that peers with this return on equity trade on, from a line fitted across peers. | ~$15 ~$5.7–$24 | Included |
| Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. | ~$13 ~$18–$26 | Included |
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | ~$1.5 ~$1.7–$2.4 | Left out: out of range vs price (0.15x) |
| Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. | ~$1.7 ~$1.3–$2.2 | Left out: out of range vs price (0.16x) |
| Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. | — | Combined value withheld. Review the individual models and their assumptions. |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare First Northwest Bancorp with banks and lenders in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Weak moat
How hard First Northwest Bancorp's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
Net income has been a median 0.5% of total assets over 10 years.
Net margin has been a median 14.5%; its worst year was -15.6%.
The diluted share count fell 4.3% over five years; stock-based pay has been a median 2.2% of revenue.
AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (42 before it).
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | $0.08 | +131% | $66m | −5% |
| Next | $0.50 | +525% | $70m | +7% |
Next year's EPS estimate has moved −33.3% in 90 days, across 2 analysts.
The consensus EPS forecast for the current fiscal year is −60.0% on 90 days ago. In the last 30 days, 0 analysts raised First Northwest Bancorp's forecast and 2 cut it.
Average of analysts' published estimates (third-party data).
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | $0.20 | $0.75 |
| 60 days ago | $0.20 | $0.75 |
| 30 days ago | $0.08 | $0.50 |
| 7 days ago | $0.08 | $0.50 |
| Now | $0.08 | $0.50 |
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Sept 2026 | $0.02 | −$0.01 | −170.0% |
| Jun 2026 | $0.01 | $0.03 | +200.0% |
| Mar 2026 | $0.04 | $0.00 | −100.0% |
| Dec 2025 | $0.10 | −$0.00 | −103.7% |
Adjusted EPS as companies report it, against the average analyst estimate.
Last 12 months +13.6%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $65m | $68m | +3.6% |
| P/S multiple | 1.2x | 1.4x | +11.1% |
| Share count | 9m | 9m | −1.3% |
Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.
Last 3 years −16.5%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $79m | $68m | −14.6% |
| Net margin | 19.8% | 2.2% | −88.8% |
| P/E multiple | 7.1x | 60.9x | +758.2% |
| Share count | 9m | 9m | +1.7% |
Biggest factor: net margin.
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| FNWB | +31% | −23% | +6% | −34% | −7% | +10% |
| Industry peers (median) | +34% | −4% | −2% | +16% | +10% | +24% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| FNWB | 75% | 42% | 50% | 42% | 42% | 55% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| FNWB | −22% | −38% | −34% | −44% | −41% | −22% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since November 2, 2015: 68% from February 16, 2022 to June 25, 2025. Getting back needed a 213% gain, and the shares have not yet recovered.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| October 29, 2026 | −0.9% | −2.1% | — | — |
| July 29, 2026 | +0.2% | +0.1% | −5.8% | −5.5% |
| April 29, 2026 | −0.2% | +1.0% | −0.2% | −0.5% |
| January 29, 2026 | −2.7% | −0.5% | −2.7% | −12.5% |
| October 27, 2025 | +15.9% | +1.4% | +10.2% | +20.6% |
| July 24, 2025 | +0.7% | +0.5% | −0.4% | +4.2% |
| April 24, 2025 | +3.1% | +2.8% | 0.0% | −8.6% |
| January 29, 2025 | −0.5% | +0.1% | +1.0% | +1.7% |
| October 29, 2024 | −0.3% | −0.1% | −4.2% | +12.3% |
| October 25, 2024 | −4.1% | +0.3% | −6.2% | +11.5% |
| July 25, 2024 | −1.8% | +0.6% | −3.1% | +3.3% |
| April 25, 2024 | +4.3% | +0.6% | −2.9% | +3.0% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY23 Q3 | $76.5M |
| FY23 Q4 | $65.5M |
| FY24 Q1 | $62.9M |
| FY24 Q2 | $66.8M |
| FY24 Q3 | $64.8M |
| FY24 Q4 | $68.9M |
| FY25 Q1 | $70.4M |
| FY25 Q2 | $65.2M |
| FY25 Q3 | $66M |
| FY25 Q4 | $68.9M |
| FY26 Q1 | $67.8M |
| FY26 Q2 | $67.6M |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY23 Q3 | -2.5% |
| FY23 Q4 | -18.4% |
| FY24 Q1 | -22.3% |
| FY24 Q2 | -15.6% |
| FY24 Q3 | -15.3% |
| FY24 Q4 | 5.3% |
| FY25 Q1 | 11.9% |
| FY25 Q2 | -2.4% |
| FY25 Q3 | 1.9% |
| FY25 Q4 | 0.0% |
| FY26 Q1 | -3.8% |
| FY26 Q2 | 3.6% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY23 Q3 | 21.0% |
| FY23 Q4 | 24.9% |
| FY24 Q1 | 8.1% |
| FY24 Q2 | 2.6% |
| FY24 Q3 | 8.5% |
| FY24 Q4 | 22.4% |
| FY25 Q1 | -1.9% |
| FY25 Q2 | -8.4% |
| FY25 Q3 | -2.8% |
| FY25 Q4 | -5.8% |
| FY26 Q1 | 27.5% |
| FY26 Q2 | 24.0% |
| Fiscal year | 2013 Jun 2013 | 2014 Jun 2014 | 2015 Jun 2015 | 2016 Jun 2016 | 2017 Jun 2017 | 2018 Dec 2018 | 2019 Dec 2019 | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 | LTM Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | ||||||||||||||
| Revenue | 25 | 27 | 28 | 34 | 38 | 43 | 45 | 60 | 74 | 80 | 65 | 69 | 69 | 68 |
| Net income | 2 | 3 | −5 | 4 | 5 | 7 | 9 | 10 | 15 | 16 | 2 | −7 | −4 | 1 |
| Diluted EPS | — | — | −$0.42 | $0.33 | $0.46 | $0.68 | $0.91 | $1.07 | $1.63 | $1.71 | $0.26 | −$0.75 | −$0.48 | $0.17 |
| Growth (year on year) | ||||||||||||||
| Revenue | — | +5.7% | +2.9% | +21.7% | +12.6% | +12.9% | +5.1% | +33.3% | +23.6% | +8.5% | −18.4% | +5.3% | +0.0% | +3.6% |
| Net income | — | +15.1% | −290.8% | — | +28.2% | +38.8% | +26.9% | +14.7% | +49.1% | +1.5% | −85.4% | −389.3% | — | — |
| Diluted EPS | — | — | — | — | +39.4% | +47.8% | +33.8% | +17.6% | +52.3% | +4.9% | −84.8% | −388.5% | — | — |
| Margins | ||||||||||||||
| Net margin | 9.1% | 9.9% | −18.4% | 11.9% | 13.5% | 16.6% | 20.1% | 17.3% | 20.9% | 19.5% | 3.5% | −9.6% | −6.1% | 2.2% |
| Free-cash-flow margin | 40.4% | 6.0% | −8.8% | 25.4% | 0.5% | 24.6% | 30.5% | 19.1% | 12.4% | 16.2% | 24.9% | 24.5% | −4.0% | 25.7% |
| Cash flow | ||||||||||||||
| Cash from operations | 11 | 4 | −1 | 11 | 1 | 13 | 14 | 13 | 15 | 16 | 18 | 17 | −3 | 17 |
| Capital spending | 0 | 2 | 1 | 2 | 1 | 3 | 0 | 2 | 6 | 3 | 2 | 0 | 0 | 0 |
| Free cash flow | 10 | 2 | −2 | 9 | 0 | 10 | 14 | 11 | 9 | 13 | 16 | 17 | −3 | 17 |
| Stock-based pay | — | — | 0 | 0 | 1 | 1 | 1 | 1 | 2 | 2 | 1 | 1 | 1 | 1 |
| Free cash flow after stock pay | — | — | −2 | 9 | −1 | 9 | 13 | 10 | 7 | 11 | 15 | 16 | −3 | 17 |
| Balance sheet | ||||||||||||||
| Cash | — | — | — | — | — | 26 | 49 | — | — | — | — | — | — | — |
| Total debt | 0 | 105 | 90 | 81 | 77 | 137 | 113 | 110 | — | 285 | 321 | 336 | 308 | 313 |
| Net debt (negative = net cash) | — | — | — | — | — | 110 | 64 | — | — | — | — | — | — | — |
| Diluted shares | — | — | 12m | 12m | 11m | 10m | 10m | 9m | 9m | 9m | 9m | 9m | 9m | 9m |
| Returned to shareholders | ||||||||||||||
| Dividends | — | — | — | 0 | 0 | 0 | 1 | 2 | 3 | 3 | 3 | 3 | 1 | 0 |
| Buybacks | 0 | 0 | 0 | 6 | 17 | 10 | 8 | 7 | 6 | 5 | 1 | 4 | 0 | — |
| Total returned | 0 | 0 | 0 | 6 | 17 | 10 | 9 | 10 | 9 | 8 | 4 | 7 | 1 | 0 |
| Quarter | 2024 Q3 Sept 2024 | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 | 2026 Q1 Mar 2026 | 2026 Q2 Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 16 | 15 | 18 | 16 | 17 | 18 | 16 | 16 |
| Net income | −2 | −3 | −9 | 4 | 1 | 0 | 0 | 0 |
| Diluted EPS | −$0.23 | −$0.32 | −$1.03 | $0.42 | $0.09 | $0.04 | $0.00 | $0.03 |
| Growth (year on year) | ||||||||
| Revenue | −11.5% | +37.0% | +9.4% | −24.2% | +4.9% | +19.1% | −6.7% | −1.1% |
| Net income | −179.1% | — | <−999% | — | — | — | — | −91.6% |
| Diluted EPS | −182.1% | — | <−999% | — | — | — | — | −92.9% |
| Margins | ||||||||
| Net margin | −12.5% | −18.2% | −51.3% | 22.4% | 4.8% | 2.1% | 0.0% | 1.9% |
| Free-cash-flow margin | 7.3% | 80.9% | −123.4% | 24.3% | 28.5% | 56.0% | 5.4% | 9.2% |
| Cash flow | ||||||||
| Cash from operations | 1 | 12 | −22 | 4 | 5 | 10 | 1 | 1 |
| Capital spending | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | 1 | 12 | −22 | 4 | 5 | 10 | 1 | 1 |
| Stock-based pay | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free cash flow after stock pay | 1 | 12 | −22 | 4 | 5 | 10 | 1 | 1 |
| Last 12 months unless stated | FNWB | MNSB | JMSB | FNWD | QNBC | OVBC | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $68m | $67m | $68m | $69m | $66m | $69m | $255m |
| Revenue growth, last 12 months | 3.6% | −51.7% | 17.2% | 8.8% | 24.5% | 4.1% | 12.5% |
| Revenue growth, 3-year average | −5.1% | −8.7% | 2.1% | −2.4% | 10.8% | 6.2% | 6.0% |
| Revenue growth, latest quarter | −1.1% | −45.9% | 21.7% | 5.7% | 43.2% | 6.9% | 10.7% |
| Net margin | 2.2% | 25.7% | 35.8% | 14.2% | 20.3% | 20.5% | 28.7% |
| Cash from operations / revenue | 25.7% | 35.1% | 31.7% | 25.1% | 25.4% | 33.1% | 34.3% |
| Free-cash-flow margin | 24.0% | 34.4% | 31.7% | 24.0% | 23.0% | 28.4% | 31.4% |
| Free-cash-flow margin, 3-year average | 6.1% | 16.7% | 40.1% | 14.8% | 24.0% | 24.3% | 29.9% |
| Stock pay / revenue | 0.9% | 3.8% | 0.8% | 0.7% | 0.6% | — | 1.2% |
| Change in share count | 1.3% | −2.0% | −0.7% | 0.4% | 9.8% | 0.0% | 0.4% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | 3.6% | 12.5% | 212 of 245 |
| Change in growth rate Growth | +7.4pp | +0.0pp | 29 of 244 |
| Net margin Profitability | 2.2% | 28.7% | 234 of 245 |
| Stock pay as % of revenue Cash generation | 0.9% | 1.3% | 59 of 206 |
| Change in share count Balance sheet | 1.3% | 0.4% | 149 of 230 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Fourthstone LLC | $10M | 925K | 25.3% | ▲ 0.1% |
| Mink Brook Asset Management LLC | $4.5M | 417K | 11.4% | New |
| Renaissance Technologies LLC | $3.8M | 352K | 9.6% | ▲ 4.1% |
| Vanguard Capital Management LLC | $3.6M | 332K | 9.1% | ▼ 0.1% |
| Petiole Usa Ltd | $2.7M | 254K | 7.0% | ▼ 1.4% |
| Dimensional Fund Advisors LP | $2.1M | 192K | 5.3% | ▼ 15.7% |
| Blackrock, Inc. | $1.4M | 129K | 3.5% | ▲ 12.1% |
| Kennedy Capital Management LLC | $1.3M | 123K | 3.4% | ▼ 3.9% |
| Geode Capital Management, LLC | $933,330 | 86K | 2.4% | ▲ 7.6% |
| Pinnacle Holdings, LLC | $863,416 | 80K | 2.2% | 0.0% |
| Huber Capital Management LLC | $781,206 | 72K | 2.0% | ▼ 2.2% |
| Marshall Wace, LLP | $697,514 | 65K | 1.8% | ▲ 33.2% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not First Northwest Bancorp's complete shareholder register. Values are as reported by the filers .
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Behar Dana D. Director | August 14, 2026 | Sell | 25,000 | $11.51 | $287,750 |
| Queyrouze Curt President / CEO | February 6, 2026 | Buy | 4,770 | $10.41 | $49,656 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Next expected around January 28, 2027 estimated from the company's past filing pattern, not announced
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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