First Northwest Bancorp Elects Director, Approves CEO Employment Agreement
Ticker: FNWB · Form: 8-K · Filed: Apr 1, 2025 · CIK: 1556727
| Field | Detail |
|---|---|
| Company | First Northwest Bancorp (FNWB) |
| Form Type | 8-K |
| Filed Date | Apr 1, 2025 |
| Risk Level | low |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-compensation, board-of-directors, employment-agreement
Related Tickers: FNWB
TL;DR
FNWB adds a director and locks in CEO Deines with a $250k base salary + bonus.
AI Summary
On March 27, 2025, First Northwest Bancorp announced changes in its board of directors and executive compensation. Specifically, the company elected a new director, David L. Johnson, and appointed him to the Audit Committee. Additionally, the company entered into a new employment agreement with its Chief Executive Officer, Matthew J. Deines, effective March 26, 2025, which includes a base salary of $250,000 and potential bonuses.
Why It Matters
This filing indicates changes in corporate governance and executive compensation, which can impact investor confidence and the company's strategic direction.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate governance and executive compensation matters, with no immediate financial distress or significant operational changes indicated.
Key Numbers
- $250,000 — CEO Base Salary (Annual base salary for CEO Matthew J. Deines under the new employment agreement.)
Key Players & Entities
- First Northwest Bancorp (company) — Registrant
- David L. Johnson (person) — Newly elected director
- Matthew J. Deines (person) — Chief Executive Officer
- $250,000 (dollar_amount) — CEO's base salary
- March 27, 2025 (date) — Date of report
- March 26, 2025 (date) — Effective date of CEO employment agreement
FAQ
Who was elected as a new director for First Northwest Bancorp?
David L. Johnson was elected as a new director for First Northwest Bancorp.
What is the effective date of the new employment agreement for CEO Matthew J. Deines?
The new employment agreement for CEO Matthew J. Deines is effective March 26, 2025.
What is the base salary for Matthew J. Deines under his new employment agreement?
The base salary for Matthew J. Deines is $250,000 per year.
Which committee was David L. Johnson appointed to?
David L. Johnson was appointed to the Audit Committee.
What is the date of this Form 8-K filing?
The Form 8-K filing is dated March 27, 2025.
Filing Details
This Form 8-K (Form 8-K) was filed with the SEC on April 1, 2025 by David L. Johnson regarding First Northwest Bancorp (FNWB).