Global Federal Credit Union Completes Acquisition of First Financial Northwest Bank

First Financial Northwest Inc. Announces Closing of Acquisition of First Financial Northwest Bank

Kirkland, WA - April 25, 2023 - First Financial Northwest Inc. (NASDAQ: FFNW), the holding company for First Financial Northwest Bank, announced today that it has closed its previously announced acquisition of First Financial Northwest Bank.

The acquisition, which was announced on February 22, 2023, was completed through a merger with First Financial Northwest Bank, with First Financial Northwest Inc. being the surviving entity. The combined company will operate under the First Financial Northwest Bank name and will continue to be headquartered in Kirkland, Washington.

"We are excited to officially welcome First Financial Northwest Bank to the First Financial Northwest family," said Joseph R. Kerns, President and CEO of First Financial Northwest Inc. "This acquisition strengthens our position in the market and provides us with additional resources to better serve our customers. We look forward to working together to drive growth and success."

The acquisition brings together two well-established and respected financial institutions in the Pacific Northwest, creating a stronger and more diversified organization. The combined company will have over $4.5 billion in assets, 35 branches, and a team of over 400 employees.

The merger is expected to generate significant cost savings and efficiencies, which will be used to invest in the business and drive future growth. The combined company will continue to focus on providing exceptional customer service, building strong relationships with its customers and communities, and delivering innovative financial solutions.

About First Financial Northwest Inc.

First Financial Northwest Inc. is the holding company for First Financial Northwest Bank, a Washington state-chartered bank that operates 35 branches in Washington state. First Financial Northwest Bank is a full-service bank that provides a range of financial services to individuals, families, and businesses. For more information, please visit our website at www.ffnwb.com.