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FIRST FINANCIAL NORTHWEST, INC. AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENTS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income        
Loans, including fees $ 13,606,000 $ 12,429,000 $ 26,887,000 $ 25,472,000
Investments available-for-sale 1,109,000 1,010,000 2,268,000 1,939,000
Interest-earning deposits 48,000 44,000 88,000 82,000
Dividends on FHLB stock 102,000 105,000 193,000 208,000
Total interest income 14,865,000 13,588,000 29,436,000 27,701,000
Interest expense        
Deposits 4,330,000 2,435,000 8,152,000 4,711,000
FHLB advances and other borrowings 829,000 1,024,000 1,726,000 1,877,000
Total interest expense 5,159,000 3,459,000 9,878,000 6,588,000
Net interest income 9,706,000 10,129,000 19,558,000 21,113,000
Recapture of provision for loan losses (800,000) (400,000) (400,000) (4,400,000)
Net interest income after recapture of provision for loan losses 10,506,000 10,529,000 19,958,000 25,513,000
Noninterest income        
Net loss on sale of investments 0 (21,000) (8,000) (21,000)
BOLI income 189,000 224,000 458,000 473,000
Wealth management revenue 261,000 156,000 457,000 255,000
Deposit Fees 205,000 175,000 376,000 336,000
Loan related fees 209,000 126,000 272,000 260,000
Other 15,000 3,000 24,000 6,000
Total noninterest income 879,000 663,000 1,579,000 1,309,000
Noninterest expense        
Salaries and employee benefits 4,734,000 4,931,000 9,734,000 9,593,000
Occupancy and equipment 898,000 829,000 1,764,000 1,598,000
Professional fees 326,000 442,000 822,000 770,000
Data processing 397,000 351,000 915,000 675,000
OREO related expenses, net 1,000 2,000 32,000 3,000
Regulatory assessments 136,000 110,000 273,000 265,000
Insurance and bond premiums 88,000 154,000 193,000 260,000
Marketing 76,000 77,000 162,000 184,000
Other general and administrative 627,000 591,000 1,097,000 1,166,000
Total noninterest expense 7,283,000 7,487,000 14,992,000 14,514,000
Income before federal income tax provision 4,102,000 3,705,000 6,545,000 12,308,000
Federal income tax provision 798,000 603,000 1,296,000 2,364,000
Net income $ 3,304,000 $ 3,102,000 $ 5,249,000 $ 9,944,000
Earnings per common share        
Basic earnings per share (in dollars per share) $ 0.33 $ 0.30 $ 0.52 $ 0.97
Diluted earnings per share (in dollars per share) $ 0.33 $ 0.30 $ 0.52 $ 0.96
Weighted average number of common shares outstanding        
Basic shares outstanding (in shares) 9,952,419 10,271,432 10,034,895 10,241,297
Diluted shares outstanding (in shares) 10,046,355 10,405,949 10,132,107 10,372,474