First Financial Northwest, Inc. — Cyborg Score 2/10
Challenged
Regional community banking
Strategic Profile
The bank had expanded from a single location to 15 branch locations in the Puget Sound region as part of its long-term business strategy. Its branch model implemented a smaller footprint and leveraged technology for efficient transaction flow with highly-skilled bankers. Following the acquisition in April 2025, the company is no longer engaged in any business activities and expects to dissolve in accordance with Washington law.
Cyborg Score Rationale
First Financial Northwest was acquired by Global Federal Credit Union on April 11, 2025, effectively ending its independent operations. In 2024, prior to acquisition, revenue declined 13.59% to $37.61 million and earnings fell 82.96% to $1.07 million.
Top Insights
(April 2025) Acquired by Global Federal Credit Union and dissolved; no longer engaged in business activities
(2024) Revenue declined to $37.61M (-13.59% YoY); net income collapsed to $1.07M (-82.96%)
Pre-acquisition operated as community bank serving Puget Sound region with 15 branches and personalized banking focus
Historical foundation: Established in 1923 as Renton Savings and Loan Association with 100+ years of community banking heritage
Named Competitors
Banner Bank — Regional bank serving Pacific Northwest
Washington Federal Bank — Community bank with regional presence in Washington
Global Federal Credit Union — Acquirer of First Financial Northwest; Alaska-based credit union
Recent Developments
(April 2025) Global Federal Credit Union completed acquisition of First Financial Northwest Inc.
(Q1 2025) Announced dissolution plans following acquisition closure
(2024) Full-year financial results showed significant revenue and earnings declines
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