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First Financial Northwest Bank to Purchase Four Bank Branches and to Open Two Additional Branches

FIRST FINANCIAL NORTHWEST (FFNW)  More Company Research Source: GlobeNewswire
Last first financial northwest earnings: 1/25 09:15 am Check Earnings Report
US:NASDAQ Investor Relations: ffnwb.com
PDF RENTON, Wash., April 10, 2017 (GLOBE NEWSWIRE) -- First Financial Northwest, Inc. (“Company”) (NASDAQ GS:FFNW), the holding company for First Financial Northwest Bank, (“Bank”) announced today that it has entered into a definitive agreement to purchase four branches located in Snohomish and King Counties.  The Bank will assume approximately $102 million in deposits associated with the branches, based on deposits as of December 31, 2016, for a deposit premium of 3.125%, based on deposit balances at the time the transaction closes.  The Bank is not acquiring any loans as part of the transaction. The purchase is subject to receiving regulatory approvals, and customary closing conditions. Under the agreement, the Bank will assume certain liabilities, including checking, savings, IRAs and CDs belonging to households and small business customers who live in the local area.  The Bank will be acquiring all four retail locations, including their ATMs. One branch property is owned and three [Read more]

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