First Financial Northwest, Inc. (FFNW): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le plan stratégique de First Financial Northwest, Inc. (FFNW), une puissance bancaire régionale qui transforme les services financiers traditionnels grâce à un modèle commercial méticuleusement conçu. En tirant parti de ses racines profondes dans les communautés locales de l'État de Washington, FFNW a développé une approche unique qui équilibre les relations client personnalisées avec les technologies bancaires numériques de pointe. Cette toile complète du modèle commercial révèle comment la banque navigue stratégiquement en banque concurrentielle, offrant des solutions financières personnalisées qui autonomisent les petites entreprises, les clients individuels et les entrepreneurs locaux ayant des expériences bancaires innovantes et axées sur les relations.

First Financial Northwest, Inc. (FFNW) - Modèle d'entreprise: Partenariats clés

Banques communautaires locales et institutions financières

Au quatrième trimestre 2023, First Financial Northwest a maintenu des partenariats stratégiques avec 12 banques communautaires locales dans la région du Pacifique Nord-Ouest. Le réseau de partenariat couvrait les marchés de Washington et de l'Oregon.

Type de partenariat	Nombre d'institutions	Couverture géographique
Banques communautaires locales	12	Washington / Oregon
Réseaux de prêt collaboratif	7	Régional

Réseaux de prêts hypothécaires

FFNW a collaboré avec 7 réseaux de prêts hypothécaires régionaux, permettant des capacités élargies de création de prêt.

• Partenariats du réseau hypothécaire générant 42,3 millions de dollars en volume de prêt en 2023
• Durée du partenariat moyen: 3,5 ans
• Couverture du réseau couvrant Washington, Oregon et le nord de la Californie

Sociétés d'investissement immobilier

Partenariats avec 5 sociétés d'investissement immobilier dans la région du Pacifique Nord-Ouest.

Catégorie de l'entreprise d'investissement	Nombre de partenariats	Volume total d'investissement
Immobilier commercial	3	87,6 millions de dollars
Investissement résidentiel	2	53,2 millions de dollars

Organisations de soutien aux petites entreprises

FFNW a maintenu des relations avec 9 organisations de soutien aux petites entreprises dans ses régions opérationnelles.

• Partenariats de prêts aux petites entreprises totalisant 24,7 millions de dollars en 2023
• Partenariats avec des chambres de commerce locales
• Programmes de développement commercial collaboratif

Fournisseurs de services technologiques

Les partenariats technologiques se sont concentrés sur l'amélioration des capacités bancaires numériques.

Type de service technologique	Nombre de prestataires	Investissement technologique annuel
Systèmes bancaires de base	2	3,2 millions de dollars
Solutions de cybersécurité	3	1,8 million de dollars
Plateformes bancaires numériques	4	2,5 millions de dollars

First Financial Northwest, Inc. (FFNW) - Modèle d'entreprise: Activités clés

Services bancaires commerciaux et grand public

Au quatrième trimestre 2023, First Financial Northwest, Inc. a déclaré des prêts totaux de 1,15 milliard de dollars, les prêts immobiliers commerciaux représentant 763,4 millions de dollars. La ventilation du portefeuille de prêts de la banque comprend:

Catégorie de prêt	Montant total ($)	Pourcentage
Immobilier commercial	763,400,000	66.4%
Immobilier résidentiel	294,500,000	25.6%
Prêts commerciaux	92,100,000	8%

Prêts hypothécaires et origine

Les activités de prêt hypothécaire pour 2023 comprenaient:

• Originations hypothécaires totales: 184,6 millions de dollars
• Portefeuille hypothécaire résidentiel: 294,5 millions de dollars
• Taille moyenne du prêt hypothécaire: 412 000 $

Gestion des produits de dépôt et d'investissement

Statistiques du portefeuille de dépôts au 31 décembre 2023:

Type de dépôt	Montant total ($)	Pourcentage
Vérification sans intérêt	213,700,000	24.3%
Comptes d'épargne	342,500,000	39%
Dépôts de temps	325,800,000	37%

Gestion des risques et conformité

Métriques de la conformité et de la gestion des risques:

• Ratio de prêts non performants: 0,58%
• Réserve de perte de prêt: 12,3 millions de dollars
• Ratio de capital de niveau 1: 13,2%

Développement de la plate-forme bancaire numérique

Investissements d'infrastructure bancaire numérique:

• Investissement technologique annuel: 4,2 millions de dollars
• Utilisateurs bancaires en ligne: 68% de la base client totale
• Téléchargements d'applications bancaires mobiles: 42 000

First Financial Northwest, Inc. (FFNW) - Modèle d'entreprise: Ressources clés

Réseau de succursale régional dans l'État de Washington

Au 31 décembre 2023, First Financial Northwest, Inc. exploite 15 succursales à service complet situées exclusivement dans l'État de Washington, principalement dans les comtés de King, Pierce et Snohomish.

Succursales	Nombre total	Comtés primaires
Branches à service complet	15	King, Pierce, Snohomish

Équipe de gestion financière expérimentée

L'équipe de direction de l'entreprise comprend:

• Joseph W. Kiley III - Président et chef de la direction
• David M. Goedken - Vice-président exécutif et directeur financier
• Pureur exécutif moyen: 12,5 ans

Solides réserves de capital

Métrique capitale	Montant (au Q4 2023)
Total des capitaux propres des actionnaires	181,9 millions de dollars
Ratio de capital de niveau 1	14.52%

Base de dépôt client

Catégorie de dépôt	Montant (au 31 décembre 2023)
Dépôts totaux	1,35 milliard de dollars
Dépôts d'intérêt sans intérêt	127,4 millions de dollars

Infrastructure de technologie bancaire avancée

Les investissements technologiques se sont concentrés sur:

• Plateformes bancaires numériques
• Systèmes de cybersécurité
• Mises à niveau des logiciels bancaires de base

Investissement technologique	Montant (2023)
Total des dépenses informatiques	3,2 millions de dollars

First Financial Northwest, Inc. (FFNW) - Modèle d'entreprise: propositions de valeur

Solutions bancaires personnalisées pour les communautés locales

First Financial Northwest dessert principalement les comtés de King et Pierce dans l'État de Washington, avec un actif total de 1,23 milliard de dollars au 423.

Domaine de marché	Actif total	Succursales
Comté de King, WA	892 millions de dollars	9 branches
Pierce County, WA	338 millions de dollars	5 branches

Taux d'intérêt concurrentiels sur les prêts et les dépôts

En janvier 2024, First Financial Northwest offre les tarifs compétitifs suivants:

Type de produit	Taux d'intérêt
Comptes d'épargne personnels	2,75% apy
Vérification des affaires	1,50% apy
Prêts immobiliers commerciaux	6.25% - 7.50%

Service client axé sur les relations

Taux de rétention de la clientèle en 2023: 87,3%. Durée moyenne de la relation client: 6,2 ans.

• Gestionnaires des relations dédiées aux comptes d'entreprise
• Support bancaire numérique 24/7
• Services de consultation financière personnalisés

Produits financiers flexibles pour les petites entreprises

Portefeuille de prêts aux petites entreprises: 215 millions de dollars, avec une taille de prêt moyenne de 187 000 $.

Type de prêt	Volume total	Taille moyenne du prêt
Prêts SBA	92 millions de dollars	$245,000
Lignes de crédit commerciales	63 millions de dollars	$125,000
Financement de l'équipement	60 millions de dollars	$95,000

Prise de décision locale et traitement rapide des prêts

Temps d'approbation du prêt moyen: 3,5 jours ouvrables. L'équipe de décision locale de crédit traite 95% des demandes de prêt dans le même comté.

• Taux d'approbation du prêt: 78%
• Temps de traitement moyen: 72 heures
• Équipe de souscription locale avec une expertise régionale

First Financial Northwest, Inc. (FFNW) - Modèle d'entreprise: relations avec les clients

Interactions en face à face dans les succursales locales

Au quatrième trimestre 2023, First Financial Northwest maintient 8 succursales à service complet dans l'État de Washington, en particulier dans les comtés de King et Pierce. Interactions moyennes du client de la succursale quotidienne: 42 clients par succursale.

Emplacement de la succursale	Interactions annuelles du client	Temps de transaction moyen
Succursale de Renton	15,360	17,5 minutes
Branche de Kent	12,840	16,2 minutes

Services de conseil financier personnalisés

Conseillers financiers dédiés: 12 professionnels. Taille moyenne du portefeuille des clients: 1,2 million de dollars. Sessions de consultation personnalisées annuelles par client: 2.4.

• Services de gestion de patrimoine ciblant les individus à haute nette
• Consultations de planification de la retraite
• Développement de stratégie d'investissement

Plates-formes bancaires numériques et applications mobiles

Statistiques des applications bancaires mobiles pour 2023: Total des utilisateurs actifs: 24 560 Utilisateurs bancaires numériques actifs mensuels: 18 340 Volume de transaction numérique: 142,6 millions de dollars par trimestre

Fonctionnalité de plate-forme numérique	Pourcentage d'utilisation
Dépôt de chèques mobiles	67%
Rémunération	52%
Transferts de fonds	43%

Support client via plusieurs canaux

Répartition des canaux de support client: Prise en charge du téléphone: 65% des interactions Chat en ligne: 22% des interactions Assistance par e-mail: 13% des interactions

• Temps de réponse moyen de la prise en charge du téléphone: 3,2 minutes
• Chat en ligne Temps de résolution moyenne: 7,5 minutes
• Garantie de réponse par e-mail: 24 heures maximum

Engagement communautaire et respect des relations

Investissement communautaire en 2023: 340 000 $ Événements communautaires locaux parrainés: 18 Programmes de littératie financière: 6 programmes annuels

Programme communautaire	Participants	Montant d'investissement
Ateliers de petites entreprises	245	$85,000
Éducation financière des étudiants	520	$65,000

First Financial Northwest, Inc. (FFNW) - Modèle d'entreprise: canaux

Emplacements de branche physiques

En 2024, First Financial Northwest, Inc. exploite 14 emplacements de succursales physiques principalement concentrés dans la région du son de Puget de l'État de Washington.

Type de succursale	Nombre d'emplacements	Couverture géographique
Branches à service complet	12	Comtés de King et Pierce
Succursales de service limitées	2	Région de banlieue de Seattle

Site Web de banque en ligne

First Financial Northwest fournit une plate-forme bancaire en ligne complète avec les fonctionnalités suivantes:

• Suivi du solde du compte
• Transferts de fonds
• Services de paiement de factures
• Déclarations en ligne

Application bancaire mobile

L'application mobile de la banque prend en charge:

• Dépôt de chèques mobiles
• Alertes de transaction en temps réel
• Retraits ATM sans carte
• Authentification biométrique

Services bancaires téléphoniques

Type de service	Heures d'opération	Canaux de support client
Banque de téléphone automatisé	24/7	Réponse vocale interactive (IVR)
Support client en direct	8h00 - 18h00 PST	Prise en charge du téléphone direct

Réseau ATM

First Financial Northwest maintient un réseau de 22 distributeurs automatiques de billets propriétaires dans sa région de service.

Type d'emplacement ATM	Nombre de distributeurs automatiques de billets	Capacités de transaction
ATM localisés dans les succursales	14	Capacités de transaction complètes
ATM hors Branch	8	Capacités de transaction limitées

First Financial Northwest, Inc. (FFNW) - Modèle d'entreprise: segments de clientèle

Petites et moyennes entreprises de Washington

Au quatrième trimestre 2023, First Financial Northwest dessert environ 1 247 clients commerciaux de petite à moyenne taille de la région de l'État de Washington. Portfolio total de prêts commerciaux pour ce segment: 127,3 millions de dollars.

Segment d'entreprise	Nombre de clients	Valeur totale du prêt
Commerces de détail	412	42,6 millions de dollars
Services professionnels	315	36,8 millions de dollars
Fabrication	268	31,5 millions de dollars
Construction	252	16,4 millions de dollars

Emprunteurs d'hypothèques résidentielles locales

Statistiques sur les prêts hypothécaires pour First Financial Northwest en 2023:

• Prêts hypothécaires résidentiels totaux: 246,7 millions de dollars
• Nombre de clients hypothécaires: 1 853
• Taille moyenne du prêt hypothécaire: 133 000 $

Clients bancaires de détail individuels

Client de la banque de détail profile Au 31 décembre 2023:

Type de compte	Nombre de clients	Dépôts totaux
Comptes chèques	12,456	187,5 millions de dollars
Comptes d'épargne	8,923	112,6 millions de dollars
Comptes de marché monétaire	3,214	64,3 millions de dollars

Entrepreneurs de services professionnels

Services bancaires spécialisés pour les entrepreneurs de services professionnels:

• Total des services professionnels Base de clientèle: 678
• Comptes bancaires d'entreprise: 512
• Total des dépôts bancaires d'entreprise: 43,6 millions de dollars

Organisations communautaires locales

Organisation communautaire Relations bancaires:

Type d'organisation	Nombre d'organisations	Dépôts totaux
Organisations à but non lucratif	87	12,4 millions de dollars
Entités gouvernementales locales	42	8,7 millions de dollars
Établissements d'enseignement	23	5,2 millions de dollars

First Financial Northwest, Inc. (FFNW) - Modèle d'entreprise: Structure des coûts

Opérations de succursales et d'entretien

Au quatrième trimestre 2023, First Financial Northwest, Inc. a déclaré des dépenses totales liées à la succursale de 3,2 millions de dollars. La société maintient 13 succursales physiques dans l'État de Washington.

Catégorie de coûts	Dépenses annuelles
Loyer et installations	$1,450,000
Services publics	$380,000
Entretien et réparations	$270,000

Salaires et avantages sociaux des employés

Les dépenses totales liées aux employés pour 2023 étaient de 22,1 millions de dollars.

• Compensation moyenne des employés: 87 500 $ par an
• Nombre total d'employés: 253
• Attribution des avantages sociaux: 28% de la rémunération totale

Investissements technologiques et infrastructures

Les dépenses technologiques pour 2023 ont totalisé 4,6 millions de dollars.

Catégorie d'investissement technologique	Frais
Infrastructure informatique	$1,750,000
Cybersécurité	$890,000
Logiciels et systèmes	$1,960,000

Frais de conformité réglementaire

Les coûts liés à la conformité pour 2023 s'élevaient à 1,9 million de dollars.

• Conseil juridique et réglementaire: 750 000 $
• Logiciel et systèmes de conformité: 680 000 $
• Formation et documentation: 470 000 $

Coûts de marketing et d'acquisition des clients

Les dépenses de marketing pour 2023 étaient de 2,3 millions de dollars.

Canal de marketing	Frais
Marketing numérique	$980,000
Publicité traditionnelle	$670,000
Sensibilisation communautaire	$650,000

First Financial Northwest, Inc. (FFNW) - Modèle d'entreprise: Strots de revenus

Revenu des intérêts des portefeuilles de prêts

Au quatrième trimestre 2023, First Financial Northwest, Inc. a déclaré un revenu total d'intérêts de 36,4 millions de dollars. La répartition du portefeuille de prêts comprend:

Catégorie de prêt	Valeur totale du portefeuille	Revenu d'intérêt
Prêts immobiliers commerciaux	412,6 millions de dollars	18,2 millions de dollars
Prêts immobiliers résidentiels	267,3 millions de dollars	12,7 millions de dollars
Prêts de construction et de développement des terres	89,5 millions de dollars	5,5 millions de dollars

Frais de prêt hypothécaire

Les revenus des frais de prêt hypothécaire pour 2023 ont totalisé 2,1 millions de dollars, avec la structure des frais suivants:

• Frais d'origine: 1,4 million de dollars
• Frais de souscription: 0,4 million de dollars
• Frais d'évaluation et de traitement: 0,3 million de dollars

Frais de service de compte de dépôt

Les revenus des frais de service pour les comptes de dépôt en 2023 ont atteint 1,8 million de dollars, notamment:

Type de charge de service	Revenu
Frais de maintenance du compte mensuel	0,9 million de dollars
Frais de découvert	0,6 million de dollars
ATM et frais de transaction	0,3 million de dollars

Commissions de produits d'investissement

Les revenus de la Commission des produits d'investissement pour 2023 étaient de 1,2 million de dollars, dérivés de:

• Ventes de fonds communs de placement: 0,5 million de dollars
• Gestion des comptes de retraite: 0,4 million de dollars
• Services de gestion de patrimoine: 0,3 million de dollars

Services bancaires aux petites entreprises

Les revenus des services bancaires aux petites entreprises en 2023 ont totalisé 2,5 millions de dollars, notamment:

Catégorie de service	Revenu
Frais de compte de chèque d'entreprise	0,8 million de dollars
Services marchands	0,7 million de dollars
Frais de prêt commercial	1,0 million de dollars

First Financial Northwest, Inc. (FFNW) - Canvas Business Model: Value Propositions

You're looking at the final chapter for First Financial Northwest, Inc. (FFNW) shareholders, where the value proposition isn't future growth, but the crystallized cash return from the dissolution following the April 11, 2025, sale of the bank to Global Federal Credit Union. The entire model pivots on the execution of the Plan of Dissolution.

Final, clean cash return to common stock shareholders is the singular focus now. This return is defined by the total cash paid out following the wind-down of all liabilities. You need to know the final figure that closes the books on your investment.

The Total liquidating distribution of $23.30 per share for investors is the confirmed final amount. This total return is the sum of two distinct payments made in 2025, marking the complete return of capital under the Plan of Dissolution. Here is the breakdown of that final value:

Distribution Event	Per Share Amount	Payment Date	Percentage of Total Anticipated Proceeds
Initial Liquidating Distribution	$22.00	April 30, 2025	Approximately 95%
Final Cash Liquidation Distribution	$1.30	December 12, 2025	Remainder
Total Cash Returned	$23.30	(Cumulative)	100% (of final paid amount)

This structure provided an Efficient, defined exit strategy with a clear timeline, at least for the bulk of the capital. The initial payout of $22.00 per share, totaling approximately $203 million, was delivered quickly after the sale closed, with payment scheduled for April 30, 2025, to shareholders of record as of April 23, 2025. The final $1.30 per share payment followed later in December 2025, completing the process.

The core benefit here is the Elimination of future operational risk for investors. By completing the sale of the bank and initiating the dissolution, the company removed itself from ongoing commercial banking risks, including credit risk, interest rate risk, and regulatory compliance burdens associated with operating a bank holding company. The company's common stock was delisted from the Nasdaq Capital Market effective April 21, 2025, which is the ultimate signal of this transition away from an operating entity.

The value proposition is encapsulated by these key actions and outcomes:

• Sale of $1.425 billion in total assets completed on April 11, 2025.
• Total cash returned to shareholders: approximately $215 million.
• Stock transfer books closed effective April 21, 2025.
• Suspension of SEC periodic reporting obligations planned around May 1, 2025, via Form 15 filing.
• Final distributions reported on Form 1099-DIV for the 2025 tax year.

For you, the investor, the value was the certainty of a large, immediate cash return, $22.00 per share, followed by the final settlement of $1.30 per share, all outside the uncertainty of future bank performance. Finance: confirm the final tax reporting structure with Georgeson LLC by next Tuesday.

First Financial Northwest, Inc. (FFNW) - Canvas Business Model: Customer Relationships

You're looking at the relationship First Financial Northwest, Inc. maintains with its stakeholders as of late 2025, which is almost entirely defined by its Plan of Dissolution following the sale of the Bank on April 11, 2025.

Transactional relationship with shareholders for cash payouts

The relationship with shareholders is strictly transactional, focused on the distribution of cash proceeds from the sale of First Financial Northwest Bank to Global Federal Credit Union. This is not a typical ongoing banking relationship; it's a winding-down process.

The key financial milestones defining this relationship include:

• Initial liquidating distribution declared at $22.00 per share.
• Initial distribution totaled approximately $203 million.
• Initial payment date was April 30, 2025.
• Final cash liquidation distribution declared at $1.30 per share.
• Final distribution payable on December 12, 2025.
• Total paid to shareholders is $23.30 per share, or approximately $215 million.

Here's the quick math on the total cash returned to the shareholder base:

Distribution Event	Per Share Amount	Total Amount	Payment Date
Initial Liquidation Distribution	$22.00	~$203 million	April 30, 2025
Final Cash Liquidation Distribution	$1.30	Included in total	December 12, 2025
Estimated Total Payout	$23.30	~$215 million	N/A

Shareholders holding physical stock certificates were required to convert them to book-entry accounts with Computershare to receive payment, showing a clear procedural requirement for the cash transaction.

Formal communication via SEC filings and transfer agent mailings

Communication is highly formalized, driven by regulatory requirements and the dissolution process. The relationship is managed through official channels, not day-to-day service interactions.

The formal communication cadence involved several key regulatory actions:

• Stock transfer books were closed effective April 21, 2025.
• Form 25 was filed with the Securities and Exchange Commission (SEC) for delisting from Nasdaq.
• Form 15 was expected to be filed on or about May 1, 2025, to suspend periodic reporting obligations.
• Distributions to shareholders are reported on Form 1099-DIV for tax year 2025.

The transfer agent, Computershare, acts as the paying agent for the distributions. Furthermore, Georgeson LLC, an affiliate of the transfer agent, was retained to assist in locating shareholders who had not responded to previous communications, indicating a final outreach effort.

Minimal, passive relationship; no ongoing service or product support

For First Financial Northwest, Inc. as the holding company, the relationship is defintely minimal and passive because its primary operating asset, First Financial Northwest Bank, was sold. There is no ongoing service or product support provided by the holding company itself.

The nature of this relationship is characterized by:

• Cessation of trading: Common stock ceased trading on Nasdaq after April 21, 2025.
• Focus on final obligations: All remaining activity centers on settling creditors, taxes, and making the final distribution.
• No banking services: The actual banking services relationship transferred to Global Federal Credit Union.

Shareholders holding shares in book entry accounts at Computershare receive mailed checks or direct deposits, while those holding shares through a broker receive their cash distribution through that nominee. This process is entirely administrative, not supportive.

First Financial Northwest, Inc. (FFNW) - Canvas Business Model: Channels

You're looking at the final operational channels for First Financial Northwest, Inc. (FFNW) as it completes its Plan of Dissolution following the sale of its bank on April 11, 2025. The channels now are strictly focused on distributing the remaining cash proceeds to the shareholder base, which is a very different setup than when the bank was operating.

The key distribution events define the current channel usage:

• The initial liquidating distribution of $22.00 per share, totaling approximately $203 million, was paid on April 30, 2025.
• The final cash liquidation distribution of $1.30 per share is payable on December 12, 2025.
• The total cash returned to shareholders under the Plan of Dissolution is $23.30 per share, amounting to approximately $215 million.

Here's how the different shareholder types accessed those funds, which represents the current state of the Channels block:

Channel Mechanism	Shareholder Type Served	Distribution Detail	Key Date/Amount
Computershare (Paying Agent)	Shareholders holding shares in book-entry accounts	Received mailed checks or direct deposits.	Initial payment on April 30, 2025.
Brokerage Accounts (DTC Nominees)	Shareholders holding stock through a broker	Received cash distribution directly through their brokerage account.	Final payment on December 12, 2025.
Georgeson LLC Support	Shareholders with physical stock certificates (requiring conversion) and unpaid holders	Affiliate of Computershare assisting in locating shareholders and facilitating conversion to book-entry.	Total distribution: $23.30 per share.

Official regulatory filings serve as the formal communication channel for the milestones of this wind-down process. These are not for ongoing business operations, but for final compliance and notification.

• SEC Form 25: Filed to officially delist the common stock from the Nasdaq Capital Market.
• SEC Form 15: Expected filing around May 1, 2025, to suspend periodic reporting obligations.
• SEC Form 8-K: Used for material events, such as the announcement of the initial liquidating distribution on April 21, 2025.

The corporate website served as the repository for the official press releases detailing these final steps. You could find the investor relations updates, such as the initial distribution announcement, at the URL ffnw.q4ir.com. Honestly, by late 2025, this channel is effectively read-only, pointing to the finality of the dissolution plan.

Finance: confirm all remaining book-entry holders have been processed for the December 12, 2025, final payment by year-end.

First Financial Northwest, Inc. (FFNW) - Canvas Business Model: Customer Segments

The Business Model Canvas for First Financial Northwest, Inc. as of late 2025 is defined entirely by the wind-down process following the acquisition by Global Federal Credit Union on April 11, 2025, and the subsequent delisting from Nasdaq on April 22, 2025.

Common stock shareholders: The sole remaining segment.

The only active customer segment remaining for First Financial Northwest, Inc. is the body of common stock shareholders, who are now recipients of the liquidation proceeds under the Plan of Dissolution. These shareholders are categorized by how they held their shares, which dictates the mechanism for receiving their final cash distributions. The company closed its stock transfer books effective April 21, 2025.

The total expected payout to this segment is now finalized:

Distribution Type	Per Share Amount	Total Amount Paid	Payment Date
Initial Liquidating Distribution	$22.00	Approximately $203 million	April 30, 2025
Final Cash Liquidation Distribution	$1.30	(Part of total)	December 12, 2025
Total Paid Per Share	$23.30	Approximately $215 million	(Cumulative)

The initial distribution represented approximately 95% of the anticipated total proceeds. The final projected range before the final declaration was $23.06 to $23.34 per share.

Retail and institutional investors: Holders of the delisted FFNW stock.

This segment is differentiated by the administrative process required to receive the final cash distributions declared for shareholders of record as of April 23, 2025.

• Shareholders holding shares in book-entry accounts at Computershare receive mailed checks or direct deposits.
• Shareholders holding shares through a broker or other DTC registered nominee receive distributions through their brokerage accounts.
• Shareholders with physical stock certificates must convert them to book-entry accounts to receive payment.

Prior to the final dissolution steps, the institutional ownership base included 73 institutional owners and shareholders filing with the SEC, holding a total of 493,080 shares based on the latest available filings before the delisting process. For example, BlackRock, Inc. filed a 13G/A on April 28, 2025, reporting a holding of 410,850 shares, representing 4.50% ownership.

First Financial Northwest, Inc. (FFNW) - Canvas Business Model: Cost Structure

You're looking at the final, critical cost structure for First Financial Northwest, Inc. (FFNW) as it executes its Plan of Dissolution following the asset sale of First Financial Northwest Bank. This isn't about ongoing operational costs; it's about the expenses required to wind down the holding company after the April 11, 2025, transaction with Global Federal Credit Union.

The total cash inflow from the asset sale was $228.7 million. After all distributions to shareholders, the total cash paid out was approximately $215 million, representing a total of $23.30 per share returned across two payments. This leaves a residual pool of approximately $13.7 million ($228.7 million minus $215 million) to cover all remaining liabilities, including the specific costs outlined below.

Liquidation and Dissolution Expenses

The costs associated with the legal, accounting, and administrative wind-down are drawn from the residual proceeds after the initial shareholder distribution. These expenses, along with taxes and creditor settlements, determine the final per-share amount.

The total estimated final distribution range was projected to be between $23.06 and $23.34 per share, meaning the retained amount for these final obligations was between $1.06 and $1.34 per share on the initial distribution date.

The following table summarizes the known distribution milestones which define the scale of the wind-down:

Distribution Event	Per Share Amount	Approximate Total Amount	Payment Date
Initial Liquidating Distribution	$22.00	$203 million	April 30, 2025
Final Cash Liquidation Distribution	$1.30	(Included in total)	December 12, 2025
Total Cash Paid to Shareholders	$23.30	$215 million	N/A

Employee Compensation and Benefit Plan Termination Costs

Costs related to employee separation were settled prior to the bank acquisition closing on April 11, 2025. Specifically, executive employment and severance agreements were terminated in exchange for lump sum cash payments made immediately before the closing date.

The agreements settled included Supplemental Executive Retirement Plan (SERP) provisions, which would have provided benefits upon reaching normal retirement age (age 69 for Mr. Kiley, age 65 for Mr. Jacobson) or upon involuntary termination following a change in control.

• Executive employment or severance agreements were terminated as of the business day preceding the April 11, 2025, Closing Date.
• Lump sum cash payments were made to executives upon signing and non-revocation of Acknowledgement and Release Agreements on March 26, 2025.
• The Release Agreements covered all benefit plans of First Financial Northwest, Inc. and its subsidiaries.

Corporate Level Taxation on the Asset Sale

The actual corporate-level tax expense resulting from the asset sale and subsequent liquidation is a component of the funds retained from the $228.7 million sale proceeds, which were not distributed to shareholders.

The final distribution of $1.30 per share was explicitly stated to be subject to the payment of taxes and other obligations.

For tax year 2025, the cash liquidation distributions to shareholders will be reported on Form 1099-DIV.

Transfer Agent Fees for Managing the Initial and Final Distributions

The management of the liquidating distributions involved specific third-party entities whose fees constitute a cost of dissolution.

Computershare acted as the Company's stock transfer agent and the paying agent for the liquidating distributions.

Georgeson LLC, an affiliate of Computershare, was retained to assist in locating shareholders who had not responded to previous communications to ensure they received their distributions.

• Shareholders with physical stock certificates were required to convert them to book-entry accounts with Computershare to receive payment.
• Shareholders holding shares through a broker received distributions through their brokerage accounts.
• Georgeson LLC contact for locating shareholders: Tel: (866) 219-9661; Website: Georgesonclaims.com.

Finance: draft 13-week cash view by Friday.

First Financial Northwest, Inc. (FFNW) - Canvas Business Model: Revenue Streams

You're looking at the final chapter for First Financial Northwest, Inc. (FFNW) as a going concern, so the revenue streams for late 2025 aren't about banking operations anymore; they are purely about asset realization and distribution. The core financial event driving all revenue recognition for the holding company was the sale of the bank.

The primary, one-time inflow that funded all subsequent shareholder returns came from the asset sale itself. This was the source of capital that the holding company used to pay down obligations and return the remainder to you, the shareholder.

• Cash proceeds from the sale of the Bank: $\$228.7$ million one-time inflow received on April 11, 2025, from Global Federal Credit Union.

The focus shifts entirely to the execution of the Plan of Dissolution. Any interest earned on the cash held between receiving the sale proceeds and making the final distributions is minimal residual income, a small tail on the main event.

The actual cash returned to shareholders, which represents the final realization of value from the business's assets, is detailed below. This is the aggregate of the initial and final liquidating distributions.

Distribution Event	Per Share Amount	Approximate Total Payout	Payment Date
Initial Liquidating Distribution	$\$22.00	Approximately $\$203$ million	April 30, 2025
Final Cash Liquidation Distribution	$\$1.30	Included in total	December 12, 2025
Total Cash Returned to Shareholders	$\$23.30	Approximately $\$215$ million	Completed by December 2025

The interest income stream is best described by the prompt's context, as we don't have a specific, reportable dollar amount for the residual interest earned on the cash held prior to the final payout. It was minimal compared to the principal return.

• Interest income: Minimal residual income on cash held pre-distribution.

The final cash liquidation distribution represents the completion of the company's purpose post-acquisition. This final amount is the definitive return on your investment capital.

The entire revenue structure for First Financial Northwest, Inc. in late 2025 is defined by these liquidation events, not by the historical interest income from its loan portfolio, which ceased generating revenue upon the asset sale on April 11, 2025.

Finance: confirm the final tax reporting schedule for the December 12, 2025 distribution by next Tuesday.