First Financial Northwest (FFNW) 2022年年度报告「NASDAQ」.pdf

1、2 0 2 2 A N N U A L R E P O R Tunique.innovative.solutions.Dear Fellow Shareholders,unique.innovative.solutions.As we head into 2023 and prepare to celebrate 100 years since our founding,we reflect on where we started and how far we have come.Established in 1923 on the shores of Lake Washington,12 m

2、iles south of Seattle,as the Renton Savings and Loan Association,First Financial Northwest Bank transformed over the years from a single branch thrift to a full-fledged community bank.In 2015 we embarked on a long-term strategy to expand our presence in the Puget Sound region to bring our unique,inn

3、ovative style of banking to more communities.Today we operate a total of 15 locations.Our award-winning branch model implements a smaller footprint and technology-centered offices where our experienced bankers provide personalized financial services to meet the needs of the individuals and businesse

4、s in the community.Our strategy continues to prove successful both in attracting new customers and in diversifying our deposit mix.In 2012,retail certificates of deposit dominated the deposit base,representing nearly 70%of the total.At the end of 2022 that percentage had fallen to just over 25%.Tota

5、l deposits increased by$12.6 million to$1.17 billion in 2022.This was due primarily to an increase in brokered deposits as retail deposits declined due to the competition for deposits in the current rising rate environment.We were pleased that noninterest-bearing demand deposits increased by$2.2 mil

6、lion in 2022.Attracting and retaining low-cost deposits will remain a focus in 2023.Net loans receivable increased by$63.6 million during 2022 to$1.17 billion.One-to-four family loans increased by$90.7 million and consumer loans increased$17.2 million,as we deliberately expanded our classic and coll