First Northwest Bancorp (NASDAQ: FNWB)

This investigation is for anyone who acquired securities in First Northwest Bancorp (NASDAQ: FNWB) prior to October 25, 2024.

The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by telling investors that the Company had sufficient financial controls in place to prevent incorrect financial reporting when the Company lacked such controls resulting in the Company taking a material charge off on uncollectible consumer loans.

On October 25, 2024, FNWB disclosed that its second quarter 2024 financial results should no longer be relied upon due to an additional $6.6 million in charge-offs and increased provision on consumer loans, resulting in a total restated provision for credit losses on loans of $8.7 million. Additionally, the Company stated that a material weakness in the Company’s internal control over financial reporting existed as of June 30, 2024. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in First Northwest Bancorp (NASDAQ: FNWB) prior to October 25, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.