- Global Federal Credit Union completes $228.7 million acquisition of First Financial Northwest Bank.
- First Financial Northwest (NASDAQ: FFNW) to be delisted from Nasdaq on April 21, 2025.
- Initial shareholder distribution scheduled for April 30, 2025.
First Financial Northwest, Inc. (NASDAQ: FFNW) has officially concluded its acquisition by Global Federal Credit Union as of April 11, 2025. The transaction, valued at $228.7 million, involved Global acquiring nearly all assets and liabilities of First Financial Northwest Bank in cash. Following the acquisition, FFNW will be delisted from the Nasdaq Global Select Market effective April 21, 2025, and its stock transfer books will close, preventing future stock trades.
Shareholders of FFNW can anticipate receiving the initial distribution of the company's remaining assets on or around April 30, 2025. To be eligible for their pro-rata portions, shareholders who hold physical stock certificates need to convert them to a book-entry format through Computershare, the company’s designated stock transfer agent. Subsequent to these asset distributions, FFNW plans to dissolve under Washington state law.
This acquisition marks a significant geographic expansion for Global Federal Credit Union, broadening its footprint from Anchorage, Alaska into the Washington market. Furthermore, the strategic move underscores Global’s growth trajectory and reflects a trend of consolidation within the regional banking industry.
