First Financial Northwest Bank

Headquarters

201 Wells Avenue South
Renton, WA 98057
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.91% →
1-Year CD N.A. 1.01% →
2-Year CD N.A. 0.95% →
5-Year CD N.A. 1.30% →
30-Year Mortgage 3.86% 2.80% →
15-Year Mortgage 3.20% 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

First Financial Northwest Bank is an FDIC insured institution located in Renton, WA. It was founded in 1923 and has approximately $1.33 billion in assets. Customers can open an account at one of its 9 branches.

FDIC Insured Yes
FDIC Certificate # 29058
Date Established 1923
Assets $ 1,330.98 million
Loans $ 1,092.13 million
Deposits $ 1,025.40 million
Capital $ 132.88 million
 

For a more detailed analysis of First Financial Northwest Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - October 31, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Money Market
0.02% $2,500 $2,999 Learn More
Money Market
0.05% $10,000 $14,999 Learn More
Money Market
0.10% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
18 Mo CD
0.65% $100,000 $199,999 Learn More


Loan Rates - October 31, 2020

Your Current Location: Connecticut, CT 06828

Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

First Financial Northwest Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Fairfield,Connecticut


First Financial Northwest Bank Locations


Financial Details

First Financial Northwest Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First Financial Northwest Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
First Financial Northwest Bank U.S. Bank Average
1.81% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, First Financial Northwest Bank had $2,194,000 in non-current loans and $454,000 in owned real estate. To cover these potential losses it had $132,884,000 in equity and $13,530,000 in loans loss reserves. That gives it a Texas Ratio of 1.81%.

Return on Equity
First Financial Northwest Bank U.S. Bank Average
5.86% 7.80%

First Financial Northwest Bank has a Return on Equity of 5.86% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
First Financial Northwest Bank U.S. Bank Average
9.98% 12.68%

First Financial Northwest Bank has a Capitalization of 9.98% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

First Financial Northwest Bank Balance Sheet Analysis

As of March 31, 2020, First Financial Northwest Bank had assets of $1,330,982,000, loans of $1,092,128,000, and deposits of $1,025,403,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 28.52 million
Interest-bearing balances $ 22.06 million
Total securities $ 134.53 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 1,092.13 million
Loan loss allowance $ 13.53 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.45 million
Goodwill and other intangibles $ 1.82 million
All other assets $ 49.44 million
     Total Assets $ 1,198.10 million
LIABILITIES
Total deposits $ 1,025.40 million
      Interest-bearing deposits $ 964.96 million
      Deposits held in domestic offices $ 1,025.40 million
      % insured (estimated) 72.54%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 160.00 million
Subordinated debt N.A.
All other liabilities $ 12.70 million
      Total Liabilities $ 1,198.10 million
      Shareholders’ Equity $ 132.88 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 14.85 million
Total Interest Expense $ 4.86 million
Net interest income $ 10.00 million
Provision for loan and lease losses $ 0.30 million
Total non interest income $ 0.71 million
Total non interest expense $ 7.95 million
Pre-tax Net Operating Income $ 2.45 million

Bank Loan Profile?

The top three loan types in First Financial Northwest Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Multifamily Mortgages.

Compared to other banks in Washington, First Financial Northwest Bank has a significantly higher percent of Multifamily Mortgages on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 34.38
Multifamily
Mortgages
15.56
Credit Card Loans 0.00
Consumer Auto Loans 2.11
Small Business Loans 0.00
Construction and Development Loans 10.53
Commercial Real Estate 35.37
Commercial and Industrial Loans 1.67
Farm Loans 0.00

Frequently Asked Questions About First Financial Northwest Bank

Branches and Savings

Is First Financial Northwest Bank FDIC insured?

Yes. It is covered under FDIC Certificate #29058.

Why does First Financial Northwest Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are First Financial Northwest Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is First Financial Northwest Bank a commercial bank?

Yes

Where are First Financial Northwest Bank locations?

See branch locations nearby.

Is First Financial Northwest Bank open on Saturdays?

Is First Financial Northwest Bank open on Sundays?

What time does First Financial Northwest Bank open?

What time does First Financial Northwest Bank close?

Are First Financial Northwest Bank ATMs Open 24/7?

Do First Financial Northwest Bank ATMs accept cash deposits?

Can First Financial Northwest Bank customers use other ATMs?

Do First Financial Northwest Bank branches have notaries?

Will First Financial Northwest Bank notarize my document?

What address for First Financial Northwest Bank should I put for incoming ACH transfers?

Will the First Financial Northwest Bank branch print checks?

Do First Financial Northwest Bank checks expire?

Does First Financial Northwest Bank require US citizenship to open account?

Can First Financial Northwest Bank close my account?

Does First Financial Northwest Bank Report to credit bureaus?

Does First Financial Northwest Bank Use Equifax?

What is First Financial Northwest Bank's ACH Routing Number?

What is First Financial Northwest Bank's SWIFT code?

Products

Does First Financial Northwest Bank offer mortgages?

Compare mortgage rates here.

Does First Financial Northwest Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does First Financial Northwest Bank offer personal loans?

Compare personal loan rates here.

Does First Financial Northwest Bank offer student loans?

Will First Financial Northwest Bank cash a check?

Will First Financial Northwest Bank redeem a savings bond?

Does First Financial Northwest Bank cash savings bonds?

Will First Financial Northwest Bank cash money orders?

Can First Financial Northwest Bank issue a money order?

Does First Financial Northwest Bank do currency exchange?

Background on The Bank

Who owns First Financial Northwest Bank?

How long has First Financial Northwest Bank been around?

Can First Financial Northwest Bank transfer to other banks?

Does First Financial Northwest Bank have quick pay?

Does First Financial Northwest Bank accept rolled coins?

Will First Financial Northwest Bank accept loose change?

Where is First Financial Northwest Bank headquarters?

Customer Reviews for First Financial Northwest Bank


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