FIRST NORTHWEST BANCORP (NASDAQ:FNWB) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
First Northwest Bancorp (the “Company”) and its wholly owned subsidiary First Federal Savings and Loan Association of Port Angeles (“First Federal” and collectively with the Company, “First Northwest”) reported that on March 12, 2020, Regina M. Wood resigned as Executive Vice President, Chief Financial Officer and Principal Accounting Officer effective March 16, 2020. Ms. Wood’s resignation is to allow her to pursue other professional interests, and is not due to a dispute or disagreement with First Northwest.
On March 16, 2020, Geri Bullard was appointed Interim Chief Financial Officer and Principal Accounting Officer of First Northwest, to serve while First Northwest completes its search process for a permanent replacement for these positions.
Ms. Bullard, age 55, joined First Federal as Senior Vice President and Treasurer in January 2020. She has more than 20 years of experience as Controller or Chief Financial Officer at financial institutions located in the Pacific Northwest, California, and Idaho. Prior to joining First Federal, Ms. Bullard served as Controller at Salal Credit Union, located in Seattle, from August 2018 to January 2020; Chief Financial Officer of First Sound Bank, also in Seattle, from February 2017 to August 2018; Controller at Sound Community Bank from October 2015 to February 2017; and Chief Financial Officer of Bank of Washington from October 2014 to October 2015. Ms. Bullard holds a Bachelor of Science degree from Humboldt State University and is a licensed CPA and CMA.
Ms. Bullard does not have an interest in any transactions requiring disclosure under Item 404(a) of Regulation S-K. There are no family relationships between Ms. Bullard and any of the Company’s directors or other executive officers. There are no arrangements or understandings between Ms. Bullard and any other persons or entities to which she has been appointed as interim Chief Financial Officer and Principal Accounting Officer.
Ms. Bullard will receive an annual base salary of $195,000. She has not been granted any equity awards and there has been no change to her eligibility to participate in the Company’s cash bonus program in connection with her interim role.
Item 7.01. Regulation FD Disclosure.
A copy of the Company’s press release relating to the announcement reported in Item 5.02, dated March 16, 2020, is furnished as Exhibit 99.1 to this Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibit. The following exhibit is furnished with this Form 8-K.
First Northwest Bancorp Exhibit
EX-99.1 2 pressreleasecfo03162020.htm EXHIBIT 99.1 Exhibit CONTACT: MATTHEW P. DEINESPRESIDENT & CEO(360) 457-0461First Northwest Bancorp Announces Management ChangePORT ANGELES,…
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About FIRST NORTHWEST BANCORP (NASDAQ:FNWB)
First Northwest Bancorp is the bank holding company for First Federal Savings and Loan Association of Port Angeles (the Bank). The Bank is a community-oriented financial institution primarily serving the North Olympic Peninsula region of Washington. The Bank offers a range of products and services focused on the lending and depository needs of the communities it serves. The Bank provides commercial and consumer banking services to individuals and businesses located primarily on the Olympic Peninsula in the State of Washington. These services include deposit and lending transactions that are supplemented with borrowing and investing activities. The Bank’s principal lending activities are focused on first lien one- to four-family mortgage loans, and commercial and multi-family real estate loans. The Bank also makes construction and land loans (including lot loans), commercial business loans and consumer loans.
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