First Northwest Bancorp (FNWB) 2019年年度报告「NASDAQ」.pdf

1、After delivering record profitability in 2019,we are excited to continue our momentum into 2020 by enhancing our strategy and building toward our future.This includes developing and deploying a comprehensive digital platform that positions us well to continue to meet the banking needs of all the mar

2、kets we serve.Over the past year,we have added to our excellent team of bankers with highly qualified and talented professionals who share in our relationship banking approach.Our team is poised to take advantage of opportunities that exist in all of our Western Washington markets.By focusing on our

3、 customers needs and delivering banking services that make them more productive,we will build on our strong foundation into 2020 and beyond.FINANCIAL PERFORMANCE The Company reported record profits of$9.0 million for the year ended December 31,2019,representing a 27%increase over 2018.Earnings per s

4、hare increased to$0.92 for 2019 compared to$0.69 for the previous year.This increase in earnings per share resulted from the combined impact of improved earnings and execution on the share repurchase program that was initiated in 2016.We continue to focus on expanding the balance sheet and improving

5、 the bottom line.During 2019,deposits increased$61.4 million,or 7%,reaching$1.0 billion at year-end,with core deposits representing 69%of total deposits.Net loans increased$14.6 million,or 2%,compared to a year ago,and total assets grew$48.6 million,or 4%,to$1.31 billion at December 31,2019.The perf

6、ormance of the branches in our expanded markets of Kitsap and Whatcom counties continue to mature and contribute to our financial results.As of December 31,2019,the combined deposits at our Silverdale and Bainbridge Island branches in Kitsap County(which opened in 2014 and 2018,respectively)exceeded