First Northwest Bancorp (FNWB) 2015年年度报告「NASDAQ」.pdf

1、2015Two Thousand FifteenAnnual ReportFirst Northwest BancorpMessage to Our ShareholdersCompletion and transition were our objectives in fiscal 2015.We are proud to have completed the conversion from a mutual form of ownership to a public company in January.We appreciate the community and shareholder

2、 support which has helped us strengthen our community bank and will position us for the future.In conjunction with the conversion we were able to fund the First Federal Community Foundation with a combination of cash and stock valued at$9.7 million.We celebrated the first anniversary of our Silverda

3、le branch in Kitsap County,where our phenomenal staff has produced deposit growth above levels achieved in any previous First Federal de novo branch.Financial PerformanceThe company experienced a net loss of$5.1 million for the fiscal year ended June 30,2015.The loss was primarily the result of the

4、costs associated with funding the First Federal Community Foundation.Excluding those one-time foundation costs we would have reported net income of$3.3 million*compared to$2.7 million for the fiscal year ended June 30,2014,an increase of 21.9%.Total assets increased$141.5 million,or 17.8%,from$795.3

5、 million at June 30,2014 to$936.8 million at June 30,2015.The primary source of increased assets was the conversion which raised$117.6 million in net proceeds.The proceeds of the conversion were invested in cash and investment securities.The balance of cash and investment securities increased from$2

6、51.2 million at June 30,2014 to$405.6 million at June 30,2015.It is our intent to systematically and prudently reposition these increased assets into higher yielding loans.Our initial branch expansion in Silverdale was a success,increasing deposit balances at our new location by$24.3 million during