ADDED
fnwb20251231_10k.htm 0001556727 First Northwest Bancorp false --12-31 FY 2025 true true true The Board has oversight responsibility for enterprise-wide risks, including cybersecurity risks.
The Audit Committee, a designated committee of the Board, is responsible for overseeing the Company's cybersecurity risk management program and reviewing its effectiveness.
The Information Security Officer ("ISO") is responsible for assessing and managing material risks from cybersecurity threats, with a dedicated staff of internal and external information security professionals.
The ISO is a Systems Security Certified Practitioner and Certified Information Systems Security Professional with over 13 years of education, training and experience managing technology and cybersecurity risks, including nine years of experience in the banking industry specifically.
The ISO regularly updates executive and senior management, including the Bank's Enterprise Risk Management Committee, as well as the Board Audit Committee on cybersecurity risks and mitigation strategies.
The Company has implemented internal controls to address the effectiveness of our cybersecurity program.
These controls include risk assessments, vulnerability assessments and scans, periodic audits, and periodic penetration testing.
The Board has oversight responsibility for enterprise-wide risks, including cybersecurity risks.
The Audit Committee, a designated committee of the Board, is responsible for overseeing the Company's cybersecurity risk management program and reviewing its effectiveness.
The Information Security Officer ("ISO") is responsible for assessing and managing material risks from cybersecurity threats, with a dedicated staff of internal and external information security professionals.
REMOVED
At September 30, 2024 and December 31, 2023, the amortized cost basis of the closed portfolio used in this hedging relationship was $56.8 million and $57.4 million, respectively; the cumulative basis adjustments associated with this hedging relationship was $1.4 million and $1.1 million, respectively; and the amount of the designated hedged items was $50.0 million for both periods.
Amounts presented for 2023 are limited to the fair value hedge on securities.
At September 30, 2024, the amortized cost basis of the closed portfolio used in this hedging relationship was $283.2 million, the cumulative basis adjustments associated with this hedging relationship was $1.6 million, and the amount of the designated hedged items was $100.0 million.
The aggregate market value of the voting stock held by non-affiliates of the registrant based on the closing price of such stock as quoted on The Nasdaq Stock Market, LLC as of June 30, 2024, was $ 86,154,236 .
Business 6 General 6 Market Area 7 Lending Activities 8 Asset Quality 24 Investment Activities 30 Deposit Activities and Other Sources of Funds 33 Subsidiary and Other Activities 37 Competition 38 Human Capital Resources 38 How We Are Regulated 40 Taxation 47 Item 1A.
Form 10-K Summary 135 Signatures 136 As used in this report, the terms, we, our, and us, and Company refer to First Northwest Bancorp ("First Northwest") and its consolidated subsidiary unless the context indicates otherwise.
For periods prior to June 30, 2023, such terms also include its former joint venture controlling interest, unless the context indicates otherwise.
When we refer to First Fed or the Bank in this report, we are referring to First Fed Bank, the wholly owned subsidiary of First Northwest Bancorp.
When we refer to "Quin" or "Quin Ventures" in this report, we are referring to Quin Ventures, Inc., a former First Northwest joint venture.
First Northwest and the Bank are collectively referred to as the "Company." For periods prior to June 30, 2023, Company references also include Quin Ventures.