RENTON, Wash., April 17, 2009 (GLOBE NEWSWIRE) -- First Financial Northwest, Inc. (Nasdaq:FFNW) reported that its Board of Directors declared a cash dividend of $0.085 per share on its common stock on April 16, 2009.
The dividend will be paid on May 13, 2009 to shareholders of record as of the close of business on April 29, 2009. This is the fifth consecutive cash dividend paid by First Financial Northwest, Inc. since the completion of its mutual to stock conversion on October 9, 2007.
"We are pleased to be able to continue demonstrating the strength and soundness of our organization in paying a quarterly dividend to shareholders while also maintaining strong capital to support lending and future growth," said Victor Karpiak, Chairman, President and CEO of First Financial Northwest, Inc. "Many companies have suspended their dividend in this extremely tough time for our industry, but we feel strongly that our loyal shareholders should continue to be rewarded for their support."
First Financial Northwest, Inc. is a Washington corporation headquartered in Renton, Washington. It is the parent company of First Savings Bank Northwest, a Washington chartered stock savings bank that was originally organized in 1923. The Company serves the Puget Sound Region of Washington that includes King, Snohomish, Pierce and Kitsap Counties, through its full-service banking office. The Company is part of the ABA NASDAQ Community Bank Index (ABAQ) as well as the Russell 3000 Index. For additional information about the Company and the Bank, please visit our website at www.fsbnw.com and click on the "Investor Relations" section.
Forward-looking statements:
Certain matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, perceived opportunities in the market, potential future credit experience, and statements regarding the Company's mission and vision. These forward-looking statements are based upon current management expectations and may, therefore, involve risks and uncertainties. The Company's actual results, performance, or achievements may differ materially from those suggested, expressed, or implied by forward-looking statements as a result of a wide variety or range of factors including, but not limited to, interest rate fluctuations; economic conditions in the Company's primary market area; demand for construction/land development, residential, commercial real estate, consumer, and other types of loans; success of new products; competitive conditions between banks and non-bank financial service providers; regulatory and accounting changes; technological factors affecting operations; pricing of products and services; and other risks detailed in the Company's reports filed with the Securities and Exchange Commission. Accordingly, these factors should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements. The Company undertakes no responsibility to update or revise any forward-looking statement.