SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 15, 2010
| | First Financial Northwest, Inc. | |
(Exact name of registrant as specified in its charter)
| Washington | | 001-3365 | | 26-0610707 |
State or other jurisdiction of Incorporation | | Commission File Number | | (I.R.S. Employer Identification No.) |
| | | | | |
| | 201 Wells Avenue South, Renton, Washington | | 98057 |
| | (Address of principal executive offices) | | (Zip Code) |
Registrant’s telephone number (including area code) (425) 255-4400
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions.
| [ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| [ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| [ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| [ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c)) |
Item 8.01 Other Events.
On April 15, 2010, First Financial Northwest, Inc. (“Company”), the holding company for First Savings Bank Northwest (“Bank”), announced that it expects to report a net loss of approximately $17.0 million to $19.0 million for the first quarter of 2010. The primary reasons for this net loss include the provision for loan losses and an anticipated valuation allowance related to the Company’s deferred tax asset. The Company plans to record approximately $12 million to $14 million in provision for loan losses for the first quarter of 2010, primarily due to continued decreases in updated appraisal values, and real estate collateral securing the Company’s nonperforming loans. The full text of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
99.1 Press Release dated April 15, 2010
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| | FIRST FINANCIAL NORTHWEST, INC. |
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| DATE: April 15, 2010 | By: /s/Victor Karpiak |
| | Victor Karpiak |
| | President and Chief Executive Officer |
