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Red Flags Detected
- Debt Default (new) — Company disclosed March 10, 2026 that its $2.0M subordinated debt investment may default if issuer cannot make March 15 interest payment (10-day grace period expires March 25).
First Northwest reports management exodus, $5.7M legal settlement, and dividend suspension
Filed March 12, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 13, 2025 · ~1 min read
Key Changes
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Four senior executives departed in 2025-26, including CEO (July 2025), Chief Banking Officer, Chief Strategy Officer, and COO (Feb 2026). Company suspended cash dividends after May 2025 to preserve capital.
Risk Factors: Management Turnover verify on EDGAR → -
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Company paid $5.7M legal settlement and disclosed ongoing litigation with 3|5|2 Capital and Socotra. Post-period, a $2.0M subordinated debt investment may default if issuer misses March 2026 interest payment.
MD&A: Noninterest Expense; Notes: Subsequent Events verify on EDGAR → -
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Nonperforming commercial real estate loans rose 75% to $9.8M. Provision for credit losses fell $9.2M to $7.3M on higher recoveries and lower loss factors, improving allowance coverage of nonaccrual loans from 67% to 75%.
MD&A: Credit Quality verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Source-verified from EDGAR · Narrative written by AI · Jun 4, 2026 · How we verify