First Financial Northwest, Inc. (NASDAQ:FFNW) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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First Financial Northwest, Inc. (NASDAQ:FFNW) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

First Financial Northwest, Inc. (NASDAQ:FFNW) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

(a) Resignation of Director
On September 20, 2019, First Financial Northwest, Inc. (the “Company”), its financial institution subsidiary, First Financial Northwest Bank (“Bank”), and its non-financial institution subsidiary, First Financial Diversified Corporation (“FFD”), announced that their Boards of Directors had accepted the resignation of Director Patricia M. Remch. Ms. Remch’s resignation is effective October 15, 2019. Ms. Remch has served as a director of the Company, Bank and FFD since April 1, 2019 and is resigning for personal reasons. At the time of her resignation, Ms. Remch was a member of the Company’s ALCO Committee, was the chair of the Internal Asset Review Committee and was on the Nominating and Corporate Governance Committee.
Ms. Remch’s letter of resignation did not indicate that her resignation was in connection with any disagreement with the Company pertaining to the Company’s operations, policies or practices.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
(a) On September 24, 2019, the Company amended its Bylaws to decrease the number of directors from seven to six members, effective October 15, 2019. A copy of the Company’s Amended and Restated Bylaws are attached hereto as Exhibit 3.2.
Item 8.01 Other Events
In an unrelated matter, on September 24, 2019 Daniel L. Stevens became Chairman of the Board of Directors of the Company, replacing Roger H. Molvar. Mr. Stevens is also becoming Chairman of the Boards of the Bank and FFD. Mr. Molvar will continue to serve as a director of the Company, the Bank and FFD.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits The following exhibits are being filed herewith and this list shall constitute the exhibit index:

First Financial Northwest, Inc. Exhibit
EX-3.2 2 ex328kdirectorresignation.htm EXHIBIT 3.2 Exhibit 3.2 AMENDED AND RESTATED BYLAWS OF FIRST FINANCIAL NORTHWEST,…
To view the full exhibit click here

About First Financial Northwest, Inc. (NASDAQ:FFNW)

First Financial Northwest, Inc. (First Financial Northwest) is a holding company for First Financial Northwest Bank (the Bank). The Bank primarily serves the greater Puget Sound region of King and to a lesser extent, Pierce, Snohomish and Kitsap Counties, Washington through its full-service banking office located in Renton, Washington and branch office in Mill Creek, Washington. The Bank’s business consists of attracting deposits from the public and utilizing these funds to originate one- to four-family residential, multifamily, commercial real estate, construction/land development, business and consumer loans. It focuses on its lending activities primarily on loans secured by commercial real estate, construction/land development, first mortgages on one- to four-family residences, multifamily and business lending. Its investment portfolio consisted principally of mortgage-backed securities, municipal bonds, the United States Government Agency obligations and corporate bonds.