Market Overview

First Northwest Bancorp Welcomes New Chief Credit Officer

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First Northwest Bancorp (NASDAQ:FNWB) ("Company"), the holding company
of First Federal Savings and Loan Association of Port Angeles ("Bank"),
announced today that Terry A. Anderson will become the Bank's Executive
Vice President and Chief Credit Officer. It is anticipated that Mr.
Anderson's employment will start in September 2018.

Mr. Anderson has more than two decades of management experience in
credit administration, sales, commercial banking and residential real
estate. He most recently served as Executive Vice President and Chief
Credit Officer for South Sound Bank for more than six years and has
previously worked in a variety of positions with West Coast Bank, US
Bank and Bank of America.

"The effective execution of the financial and managerial
responsibilities of our Chief Credit Officer is absolutely essential to
this institution's sustainable growth and success," said Larry Hueth,
President and CEO of First Northwest. "Terry has significant experience
in banking and finance and is a financial professional with a proven
track record of performance and leadership. We look forward to welcoming
Terry to our team and leveraging his knowledge and expertise to continue
to grow our company."

Mr. Anderson will replace the current Chief Credit Officer, Christopher
A. Donohue, who is departing to pursue other opportunities and
interests. Mr. Donohue has played an important role in leading the
transformation of the Bank's credit department and improving operational
efficiencies. "Chris has made significant contributions to our company
during his tenure at First Federal," said Mr. Hueth. "We are grateful
for his years of service and wish him well."

About the Company

First Northwest Bancorp, a Washington corporation, is the bank holding
company for First Federal Savings and Loan Association of Port Angeles.
First Federal is a Washington state-chartered mutual savings bank
primarily serving communities in Western Washington State with thirteen
banking locations - eight located within Clallam and Jefferson counties,
two in Kitsap County, two in Whatcom County, and a home lending center
in King County.

Forward-Looking Statements

Certain matters discussed in this press release may contain
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements relate
to, among other things, expectations of the business environment in
which we operate, projections of future performance, perceived
opportunities in the market, potential future credit experience, and
statements regarding our mission and vision. These forward-looking
statements are based upon current management expectations and may,
therefore, involve risks and uncertainties. Our actual results,
performance, or achievements may differ materially from those suggested,
expressed, or implied by forward-looking statements as a result of a
wide variety or range of factors including, but not limited to:
increased competitive pressures; changes in the interest rate
environment; the credit risks of lending activities; changes in general
economic conditions and conditions within the securities markets;
legislative and regulatory changes; and other factors described in the
Company's latest Annual Report on Form 10-K and other filings with the
Securities and Exchange Commission ("SEC") - which are available on our
website at www.ourfirstfed.com
and on the SEC's website at www.sec.gov.

Any of the forward-looking statements that we make in this press release
and in other public statements we make may turn out to be incorrect
because of the inaccurate assumptions we might make, because of the
factors illustrated above or because of other factors that we cannot
foresee. Because of these and other uncertainties, our actual future
results may be materially different from those expressed or implied in
any forward-looking statements made by or on our behalf, and the
Company's operating and stock price performance may be negatively
affected. Therefore, these factors should be considered in evaluating
the forward-looking statements, and undue reliance should not be placed
on such statements. We do not undertake and specifically disclaim any
obligation to revise any forward-looking statements to reflect the
occurrence of anticipated or unanticipated events or circumstances after
the date of such statements. These risks could cause our actual results
for 2018 and beyond to differ materially from those expressed in any
forward-looking statements by, or on behalf of, us and could negatively
affect the Company's operations and stock price performance.

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