First Northwest Bancorp (FNWB) Stock

First Northwest Bancorp (FNWB) is a Financials stock trading at $11.08 (as of 2026-09-02), with a market capitalization of $105.39M and a trailing P/E of 70.4. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

First Northwest Bancorp is a bank holding company for First Fed Bank, providing commercial and consumer banking services to individuals, businesses, and nonprofit organizations in western Washington. It takes deposits such as checking and savings accounts and certificates of deposit, and makes loans including one- to four-family mortgages, commercial and real estate loans, and consumer loans, served through full-service branches and a Seattle lending center.

Understand First Northwest Bancorp: how it makes money

First Northwest Bancorp operates First Fed Bank, a community bank in western Washington that earns income by gathering deposits and making commercial, mortgage, and consumer loans to local customers. Profit is almost entirely the net interest spread between what it pays depositors and charges borrowers, with no meaningful product diversification.

Profit is the thin spread between deposit costs and loan yields on a small western Washington loan book, making earnings highly sensitive to local credit conditions and the regional deposit cycle.

Business quality (Weak): Weak. A 1% operating margin places the bank at near-breakeven profitability, and the 70x P/E leaves no cushion if the turnaround does not deliver.

Valuation: At 70× earnings, FNWB trades 440% above the Banking average (13×).

Bull case

  • Depressed base implies recovery upside: The operating margin at 1% marks a severely compressed earnings base for a small community bank. Even partial normalization of net interest income from this trough would lift earnings by a large multiple, and the market's willingness to pay a premium for the stock suggests it expects that inflection.

Bear case

  • Multiple is 5x sector norm: P/E 70.0x vs Banking industry 13x (440% above). The stock trades at over five times the sector multiple while generating near-zero profit, so any stumble in loan growth or deposit costs would have an outsized impact on the multiple.
Valuation — source: SEC EDGAR (first-party)
Price$11.08
Market Cap$105.39M
P/E Ratio70.4
EV / EBITDA52.0
Price / Book0.67
Price / Sales1.01
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$107.00M
Net Margin-3.9%
Revenue Growth (YoY)-6.2%
EPS Growth (YoY)-92.9%
Valuation vs Sector & Industry
Stock P/E70.4
Sector P/E (Financials)14.9
Industry P/E (Banking)12.7
vs Sector371.6%
vs Industry454.2%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderFourthstone LLC ($8.02M)
Institutional Holders Tracked10
Company
SectorFinancials
IndustryBanking
CEOCurt T. Queyrouze
Employees227
CountryUS
IPO Date2015-01-30

Related Companies (Banking; 8 comparable banks)

  • Timberland Bancorp, Inc. (TSBK)
  • Greene County Bancorp, Inc. (GCBC)
  • Avidia Bancorp, Inc. (AVBC)
  • Northeast Community Bancorp, Inc. (NECB)
  • FB Bancorp, Inc. Common Stock (FBLA)
  • Home Bancorp, Inc. (HBCP)
  • FS Bancorp, Inc. (FSBW)
  • Affinity Bancshares, Inc. (AFBI)
FNWB earnings history · FNWB institutional & insider holders · FNWB KPIs & operating metrics · FNWB financials · FNWB investor presentations & press releases · FNWB SEC filings · FNWB peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-09-02.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.