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First Financial Northwest Inc. Announces Closing of Acquisition of First Financial Northwest Bank by Global Federal Credit Union

Seattle, WA, April 11, 2025 – First Financial Northwest Inc. (FFNW), the parent company of First Financial Northwest Bank, announced today that it has closed the acquisition of First Financial Northwest Bank by Global Federal Credit Union.

As previously announced, FFNW entered into an agreement to sell its banking subsidiary, First Financial Northwest Bank, to Global Federal Credit Union. The acquisition was completed on April 10, 2025, and the combined entity will operate as Global Federal Credit Union.

"We are pleased to have completed the acquisition and are excited to join forces with Global Federal Credit Union," said Joseph R. Leimkuhler, President and CEO of FFNW. "This transaction will enable us to provide even more comprehensive financial services to our customers and expand our reach in the market."

The acquisition is expected to enhance the combined entity's capabilities and position it for future growth. The combined entity will operate under the Global Federal Credit Union brand and will continue to provide a wide range of financial services to its customers.

"We are thrilled to welcome First Financial Northwest Bank to our family of companies," said Michael J. Kelly, President and CEO of Global Federal Credit Union. "This acquisition will enable us to expand our presence in the market and provide our customers with a broader range of financial services and products."

The acquisition was financed through a combination of cash and assumption of liabilities. The terms of the transaction were not disclosed.

About First Financial Northwest Inc. First Financial Northwest Inc. is the parent company of First Financial Northwest Bank, a Washington state-chartered bank. FFNW is a diversified financial services company that provides a wide range of financial services to individuals, families, and businesses.

About Global Federal Credit Union Global Federal Credit Union is a federally chartered credit union that provides a wide range of financial services to its members. The credit union is headquartered in Seattle, Washington, and has a strong presence in the Pacific Northwest.