First Northwest is the holding company for First Fed, a community bank headquartered in Port Angeles, Washington, with roots going back to 1923. First Fed operates 12 full-service branches and 5 business centers across Western Washington, primarily on the Olympic Peninsula and in the Puget Sound region. The bank's core business is taking deposits and making loans to individuals, small-to-medium-sized businesses, and nonprofits in its local markets. First Fed's loan portfolio totals roughly $1.6B and spans commercial real estate (~25%), one-to-four family residential mortgages (~23%), multi-family real estate (~18%), auto and consumer loans (~17%), commercial business loans (~8%), home equity (~5%), and construction and land (~4%). A notable feature of First Fed's lending strategy is its use of third-party loan purchase programs — including classic auto loans through Woodside Credit, manufactured home loans through Triad Financial Services, and healthcare professional loans through Bankers Healthcare Group — to diversify beyond its core Olympic Peninsula market, which faces limited population growth and elevated unemployment. First Fed earns primarily through net interest income, the spread between loan and investment yields and deposit and borrowing costs. The bank funds loans mainly through customer deposits (~$1.6B), supplemented by FHLB advances. Noninterest income comes from gains on residential mortgage sales to the secondary market, mortgage servicing fees, and deposit fee income. First Northwest also holds small minority stakes in fintech-focused limited partnerships and a boutique investment bank, though these are not meaningful revenue contributors.