First Northwest Bancorp 2025年度报告

FORM 10-K ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended December 31, 2025or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from _____ to _____ Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☐No☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes☐No☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 duringthe preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements forthe past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerginggrowth company. See the definitions of "large accelerated filer,""accelerated filer,""smaller reporting company,"and "emerging growth company"in Rule 12b-2of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control overfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its auditreport.Yes☒No☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filingreflect the correction of an error to previously issued financial statements.☐ Table of Contents Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by anyof the registrant’s executive officers during the relevant recovery period pursuant to§240.10D-1(b)☐ DOCUMENTS INCORPORATED BY REFERENCE: Portions of the registrant's Definitive Proxy Statement to be filed with the Securities and Exchange Commission pursuant to Regulation 14A for the2026 AnnualMeeting of Shareholders are incorporated by reference into Part III of this Annual Report on Form 10-K. FIRST NORTHWEST BANCORP2025ANNUAL REPORT ON FORM 10-KTABLE OF CONTENTS Forward-Looking Statements5PART IItem 1. Business6General6Market Area7Lending Activities8Asset Quality23Investment Activities29Deposit Activities and Other Sources of Funds32Subsidiary and Other Activities36Competition37Human Capital Resources37Information About Our Executive Officers38Available Information39Regulation and Supervision39Taxation45Item 1A. Risk Factors46Item 1B. Unresolved Staff Comments60Item 1C. Cybersecurity61Item 2. Properties62Item 3. Legal Proceedings62Item 4. Mine Safety Disclosures62PART IIItem 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities62Item 6. [Reserved]62Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations63General63Our Business and Operating Strategy64Critical Accounting Policies65New Accounting Pronouncements66Comparison of Financial Condition at December 31, 2025 and December 31, 202466Comparison of Results of Operations for the Years Ended December 31, 2025 and December 31, 202469Average Balances, Interest and Average Yields/Cost72Rate/Volume Analysis73Asset and Liability Management and Market Risk73Liquidity Management75Off-Balance Sheet Activities76Commitments and Off-Balance Sheet Arrangements76Capital Resources76Effect of Inflation and Changing Prices77Recent Accounting Pronouncements77Item 7A. Quantitative and Qualitative Disclosures About Market Risk77Item 8. Financial Statements and Supplementary Data77 FIRST NORTHWEST BANCORP2025ANNUAL REPORT ON FORM 10-KTABLE OF CONTENTS (Continued) Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure133Item 9A. Controls and Procedures133Item 9B. Other Information134Item 9C. Disclosures Regarding Foreign Jurisdictions that Prevent Inspections134PART III.Item 10. Directors, Executive Officers and Corporate Governance134Item 11. Executive Compensation135Item 12. Security Ownership of Certain Beneficial Owners and