First Northwest Bancorp (FNWB) 2018年年度报告「NASDAQ」.pdf

1、Sincerely,Stephen Oliver Chairman,Board of DirectorsLarry Hueth President and Chief Executive Officer We are pleased to report record earnings for 2018,and look forward to continued improvement in 2019 and beyond.Our continued success is built upon our unwavering commitment to deliver banking produc

2、ts and services to the communities we serve with a“hometown”touch.At the same time we recognize the need to embrace the changing needs of our customers.With this in mind,we are developing and deploying a comprehensive digital platform that positions us to continue to meet the banking needs of all ge

3、nerations and geographies we serve.In addition,in 2018 we introduced our first shareholder dividend,which enhances the value and return for those who have invested and believed in us.Financial Performance The Company reported profits of$7.1 million for the year ended December 31,2018,representing a

4、45%increase over the previous year.Earnings per share increased to$0.69 for the most recent year end compared to$0.46 for the previous year.This increase in earnings per share resulted from the combined impact of improved earnings and a prudent share repurchase program that was initiated in 2016.The

5、 dedicated efforts of our entire team of banking professionals delivered strong balance sheet growth in 2018.During this year,net loans increased$84.8 million,or 10.9%,and deposits increased$55.3 million,or 6.2%,with total asset growth of$43.1 million,or 3.5%,to$1.26 billion at December 31,2018.We a

6、re pleased with the performance of the branches in our expansion markets of Kitsap and Whatcom counties.As of December 31,2018,combined deposits at our Silverdale branch in Kitsap County(which opened in 2014)exceeded$61 million;our Bellingham branches in Whatcom County(opened in 2015 and 2016)had co