RENTON, Wash., Nov. 24, 2025 (GLOBE NEWSWIRE) -- First Financial Northwest, Inc. (CUSIP 32022K102) (the "Company") today announced that its Board of Directors has declared a final cash liquidation distribution in the amount of $1.30 per share pursuant to its previously announced Plan of Dissolution. The final cash liquidation distribution will be payable on December 12, 2025, to shareholders of record as of April 23, 2025, which was the record date set for the initial and all subsequent cash liquidation distributions.
The Company previously declared an initial cash liquidation distribution of $22.00 per share payable on April 30, 2025. Including the final cash liquidation distribution to be paid on December 12, 2025, the Company will have paid a total of $23.30 per share, or approximately $215 million, in accordance with its Plan of Dissolution. These distributions to the shareholders pursuant to this Plan of Dissolution represent all payments to be made to shareholders under the Plan.
As a condition to receiving payment of the cash liquidation distributions, shareholders holding physical stock certificates are required to convert their stock certificates to book-entry accounts. The Company has retained Georgeson LLC, an affiliate of the Company's stock transfer agent, Computershare, to assist in locating shareholders who have not responded to previous communications. Shareholders may contact Georgeson with questions about their shares or cash liquidation distributions:
Georgeson LLC
150 Royal Street, Suite 101
Canton, MA 02021
Tel: (866) 219-9661
Website: Georgesonclaims.com
Shareholders who hold shares in book entry accounts at Computershare will receive mailed checks or direct deposits in the amount of their cash liquidation distribution. Shareholders who hold shares through a broker or other DTC registered nominee will receive their cash distribution through their account at such broker or other nominee.
The cash liquidation distributions to Company shareholders will be reported on Form 1099-DIV for tax year 2025. U.S. shareholders will generally recognize gain or loss in an amount equal to the difference between the amount of cash received and such U.S. holder's adjusted tax basis in its Company common stock. The gain or loss generally will be capital gain or loss, and long-term capital gain or loss if the U.S. holder's holding period with respect to Company common stock exceeds one year. Long-term capital gains of non-corporate U.S. holders generally are subject to U.S. federal income tax at preferential rates. The deductibility of capital losses is subject to limitations.
This discussion of certain material U.S. federal income tax consequences is for general information only and is not intended to be tax advice. Holders of Company common stock are urged to consult their independent tax advisors with respect to the application of U.S. federal income tax laws to their particular situations as well as any tax consequences arising under the U.S. federal estate or gift tax rules, or under the laws of any state, local, foreign or other taxing jurisdiction or under any applicable tax treaty.
About First Financial Northwest, Inc.
First Financial Northwest, Inc. (CUSIP 32022K102) is the former holding company of First Financial Northwest Bank. On April 11, 2025, the Company completed the sale of the Bank to Global Federal Credit Union. The Company filed Form 25 with the Securities and Exchange Commission delisting the Company's common stock from trading on the Nasdaq Capital Market (NASDAQ: FFNW) and closed its stock transfer books effective April 21, 2025, pending its voluntary dissolution under applicable Washington law and the Plan of Dissolution.
Investor Contacts:
Rich Jacobson
Executive Vice President
jacobsonr@ffnorthwest.com
(206) 573-4973
Karla Evans
Investor Relations
evansk@ffnorthwest.com
(206) 833-1259
