NEW YORK, NY / ACCESSWIRE / November 16, 2024 / Pomerantz LLP is investigating claims on behalf of investors of First Northwest Bancorp ("FNWB" or the "Company") (NASDAQ:FNWB). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether FNWB and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On October 25, 2024, FNWB disclosed that its second quarter 2024 financial results should no longer be relied upon due to an additional $6.6 million in charge-offs and increased provision on consumer loans, resulting in a total restated provision for credit losses on loans of $8.7 million. FNWB also stated that a material weakness in the Company's internal control over financial reporting existed as of June 30, 2024.
On this news, FNWB's stock price fell $0.23 per share, or 2.2%, to close at $10.13 per share on October 28, 2024.
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SOURCE: Pomerantz LLP