First Northwest Bancorp · NASDAQ:FNWB
First Northwest Bancorp — Q3 2026 Earnings Presentation
20 slides from First Northwest Bancorp's earnings presentation, Oct 29, 2026
Slide 1: First Northwest Bancorp Investor Deck: Third Quarter 2026 Earnings & Strategic Update
Exhibit 99.2 “& First Northwest Bancorp Investor Deck 2026 Third Quarter Earnings & Strategic Update October 2026 omar red YY \ YY
Slide 2: Forward Looking Statement
Forward Looking Statement This investor presentation contains orword-ooking statements within the meaning ofthe Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, expectations ofthe business environment in which we operat, projections of
Slide 3: Deeply Rooted Puget Sound Banking Franchise
Deeply Rooted Puget Sound Banking Franchise Deposit $2.18 $1.68 $1.68 County —MarketRank NuMBerof Depositsin wyarige MOF Assets Loans Deposits Branches Market ($M) ‘Share (%) Franchise Clallam? 1 8 4114 40.32% 69.62% sefferson 2 1 22 22.84% 12.44% + First Fed Bank operates 11 full-service ‘Market To
Slide 4: Transform Operations, Funding, and Growth
Process & Data Efficiency Enterprise process mapping Automation of key workflows Data-driven pricing and analytics ‘S First Northwest Bancorp Grow relationship- based deposits Strengthen operating account base Reduce wholesale funding reliance Transform Operations, Funding, and Growth Core Deposit S
Slide 5: Executing a Disciplined Transformation: 2026 Priorities
Executing a Disciplined Transformation: 2026 Priorities Deliberate actions underway to improve efficiency, reposition the balance sheet, and drive sustainable profitability Reduce elevated expense base Renegotiate vendor contracts Cost & Efficiency Implement automation initiatives to improve back-of
Slide 6: Third Quarter 2026 Highlights
Third Quarter 2026 Highlights Net interest margin improved to 2.96% from 2.95% LQ. Recorded a $532,000 provision for credit losses on loans compared to a recapture of $337,000 in prior quarter NPAs decreased to 0.98% of assets from 1.05% LQ Gross loan balances held steady at $1.6 billion Loan produc
Slide 7: Third Quarter 2026 Results
Third Quarter 2026 Results Results were affected by the settlement of a previously disclosed legal matter EPS * Net loss of $743,000 for the third quarter of 2026 * Diluted loss per share of $0.08 *Gross loans decreased $19.5 million, or 1.21% from LQ Loan growth in commercial real estate was offset
Slide 8: Selected Quarterly Financial Data
Selected Quarterly Financial Data (Gin thousands, except for per share data) 032026 _Q22026 012026 _Q42025 032025 _Q22025 412025 _Q42024 ‘Net Interest income $ 14,318 $ 14,173 $ 14440 $ 14,690 $ 14569 § 14,193 § 13,847 $ 14,137 Provision for Credit Losses 739 (539) 7 564 (673) (361), 7,786 3,655 Tot
Slide 9: Average Deposits & Recent NIM Trends
Average Deposits & Recent NIM Trends {Sinmilions) $1,636 $1,619 $1,579 $1,580 $1,620 03 2025 24 2025 21 2026 022026 03 2026 mmm Average Interest Bearing mmm Average Nor-interest Bearing Total Deposit Cost ——NIM “S First Northwest Bancorp A © 206-irt Fed
Slide 10: Time Deposit Repricing Pressure on Margin
Time Deposit Repricing Pressure on Margin Based on current maturities within the portfolio and assuming no further interest rate adjustments in the Fed Funds Rate, there are $453.1 million of time deposits repricing in the next 12 months + $404.5 million of customer time deposits are repricing at an
Slide 11: Core Deposit Composition
Core Deposit Composition Brokered CDs E Q3 2026 Cost of Deposits 2.08% ‘S First Northwest Bancorp 03205420 nz © ar2026 03.2026, Tota Deposits Average Costof Deposits asit Trends Total deposits increased $27.0 million to $1.63 billion reased $27.0 mi brokered deposits remained flat with LO Customer d
Slide 12: Loan Portfolio Composition
Loan Portfolio Composition ss 0 ae — Sas ‘$1628 $1629 ‘sue “susoa 100 = som 100 $1,400 — ssa 22% Q3 2026 300 cram Yield $1200 son 3300 5.54% su sas 032025420 ar26 © 2202603206, Tota Loans (Gros) — Average Loan Yield Loan Trend: *+ Loan production increased, as new fundings increased to $58.1 million
Slide 13: Credit Trends — Risk Ratings
Credit Trends — Risk Ratings Loans byRiskRating 032026 %of Q22026 %of Qi2026 %of Q42025 %of 032025 %of (Sin Millions) Balance Total_Balance _Total_Balance Total Balance _Total_ Balance _ Total Pass (Grades 1-3) $1,407.3 88% $1,444.9 90% $1,450.0 89% $1,454.0 89% $1,496.7 92% Watch (Grade 4) $127.9 8
Slide 14: Credit Trends — Allowance for Credit Losses
Credit Trends — Allowance for Credit Losses Allowance for Credit Losses on Loans (ACLL) Net Charge Offs (Recoveries) (Sin Thousands) (Sin Thousands) ‘mt Alowance for credit losses —ACL/Loans $16,203 $16,987 $16,823 $16,309 $16,388. $1,522 ro $150 si78 $453 $318 32025 42025 12026 2202603 2026 032025
Slide 15: Classified Assets Trend Lower
Classified Assets Trend Lower ‘Amortized Cost of Classified Assets (Sin Thousands) 03 2026 2 2026 1 2026 942025 3 2025 (CRE Office $5929 $ 604 $ 6158 $ 6306 $ 6656 CRE — Multifamily Spokane 4,693 4,704 : - - CRE ~ Condo 3,595 4,160 4,160 5,139 6,029 CRE Gas Station 3,231 3,367 3,435, 3,435, 3,435 SB
Slide 16: Credit Quality Classified Asset Summary
Credit Quality Classified Asset Summary Classified Assets Schedule as of September 30, 2026 (Sin Thousands) Amortized —-% Total Cost Assets Status * Office Building in Fremont, WA CRE = Office $5929 0.28% __+ Master lease signed for entire space ‘+ Multifamily housing in Spokane, WA CRE — Multifamil
Slide 17: Strong Capital and Liquidity Positions
Strong Capital and Liquidity Positions Capital and Liquidity Ratios Cash Reserves Bank () = 9.6% leverage capital {in millions) * 12.2% CET1 capital sill 008 = 13.2% total risk-based capital ‘$000 ™ 8.0% TCE/TA (2) $600 ‘$501 Company ‘0 = 16.1% primary liquidity $200 = 39.2% total liquidity * Cash R
Slide 18: Bank Level Capital Ratios
Bank Level Capital Ratios jui il Assets, Tangible ible Assets * Leverage Ratio (as reported on FFIEC Form 051) eeu otal Assets wTCE/TA 109% sons 960% 93% aay, ms 2S! TS MES, ame mmr «BMG WSMV Tier 1 Capital Ratio (as reported on FFIEC Form 051) ‘Total RBC Ratio (as reported on FFIEC Form 051) 3% 8%
Slide 19: First Fed Executive Team
First Fed Executive Team Curt Queyroure David Edelstein President and CEO Chief innovation Ofcer Allizon Mahaney (Chief Legal Officer Jennifer Gribble Kyle Henderson Chief People officer Chie credit officer Phyllis Nomura Chief Financial Offcer Chris Walzh Chief Banking Officer ‘S First Northwest Ba
Slide 20: Non-GAAP Reconciliations
Non-GAAP Reconciliations Equity/Total Assets and Tangible CE/Tangible Assets Bank Equity/Total Assets and Tangible CE/Tangible Assets (Gann Corer ee a re ee ee ee mange ses a a ‘moni Pe ‘mange ses a a ‘Sango a a steno esos age iooseverero a venen@ w sa a2 aw 2 rentegbinnes aes aes Sma SSS ‘wntampben
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