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News Breaks
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April 15, 2010
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| 15:13 EDT |  | FFNW |
| theflyonthewall.com: | First Financial Northwest sees Q1 loss of $17M-$19M | | First Financial Northwest (FFNW), the holding company for First Savings Bank Northwest, announced that it expects to report a net loss for the first quarter of approximately $17M-$19M. The primary reasons for this net loss include the provision for loan losses and an additional valuation allowance related to our deferred tax asset. We anticipate recording approximately $12M-$14M in provision for loan losses for the first quarter and adding an additional deferred tax asset valuation allowance of approximately $7M-$9M. The increase in our provision for loan losses was primarily due to continued decreases in updated appraised values of real estate collateral securing our nonperforming loans. :theflyonthewall.com |
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