First Financial Northwest, Inc. Reports Un-Audited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017
January 25, 2018 at 12:34 pm
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First Financial Northwest, Inc. reported un-audited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported net income of $3.0 million, or $0.29 per diluted share, compared to net income of $2.406 million, or $0.23 per diluted share compared to and $3.021 million, or $0.29 per diluted share for the last year. The company reported total interest income of $13.3 million compared to $11.409 million, net interest income of $10.388 million compared to $9.304 million, income before federal income tax provision of $4.73 million compared to $4.344 million, return on assets of 0.8% compared to 1.12% and return on equity of 6.7% compared to 8.58% for the last year.
For the year, net income was $8.479 million, or $0.81 per diluted share, compared to $8.892 million, or $0.74 per diluted share, for the year ended December 31, 2016. The company reported total interest income of $47.644 million compared to $41.709 million, net interest income of $37.622 million compared to $24.202 million, income before federal income tax provision of $13.421 million compared to $12.604 million, return on assets of 0.76% compared to 0.88% and return on equity of 5.94% compared to 5.55% for the last year. Book value per common share as on December 31, 2017 was $13.27 compared to $12.63 as on December 31, 2016.
First Financial Northwest, Inc. is the holding company for First Financial Northwest Bank (the Bank). The Bank focuses on its lending activities primarily on loans secured by commercial real estate, construction/land, first mortgages on one-to-four family residences, multifamily, and business lending. It offers secured consumer loans, including savings account loans, auto loans and home equity loans that include lines of credit and second mortgage term loans. It originates construction/land loans primarily to residential builders for the construction of single-family residences, condominiums, townhouses, multifamily properties and residential developments located in its market area. Its land development loans are generally made to builders for preparation of a building site. Its investment portfolio consists of mortgage-backed securities, municipal bonds, United States government agency obligations, and corporate bonds. It serves King, Snohomish, Pierce and Kitsap counties, Washington.
FIRST FINANCIAL NORTHWEST, INC. 
