First Financial Northwest (FFNW) 2021年年度报告「NASDAQ」.pdf

1、ANNUAL REPORT2021unique.innovative.solutions.Dear Fellow Shareholders,unique.innovative.solutions.We recently passed the two-year anniversary of when the World Health Organization first characterized COVID-19 as a pandemic.We optimistically believed things would be back to normal in a relatively sho

2、rt timeframe,but things have been anything but normal since.We are very proud that we were able to adapt quickly to continue to deliver dependable and responsive service to our customers and support the businesses and nonprofit organizations in our communities.Over the last two years,the Bank partic

3、ipated in the U.S.Small Business Administration(“SBA”)Paycheck Protection Program(“PPP”)to provide near-term relief to small businesses and nonprofit organizations impacted by COVID-19.In total,we funded$77.7 million in PPP loans.The great majority of these loans have been forgiven by the SBA in acc

4、ordance with the terms of the program,and we expect most of the remaining PPP borrowers to seek full or partial forgiveness of their loans.Under the CARES Act and related bank regulatory guidance,we were also able to provide short-term modifications of loans,such as full and partial payment deferral

5、s.The quarter-end high for such deferrals was$132.1 million at June 30,2020.At December 31,2021,no loans remained on active deferral.In March 2021,we opened our 15th office in Issaquah,Washington and shifted focus to growing our customer base and deepening relationships within our existing markets.O

6、ur small footprint,technology-centered offices serve as“billboards”for the Bank in their targeted market and provide a local presence for our experienced bankers as they develop and nurture relationships with the businesses and individuals in their communities.This strategy has proven successful bot