Transaction Overview

First Financial Northwest, Inc. (NASDAQ GS: FFNW) (the “Company”), the former holding company of First Financial Northwest Bank (the “Bank”), today announced the closing, effective April 11, 2025, of the previously announced transaction whereby Global Federal Credit Union (“Global”), headquartered in Anchorage, Alaska, acquired substantially all of the assets and assumed substantially all of the liabilities (including deposit liabilities) of First Financial Northwest Bank. In connection with the closing of the transaction, the Company received $228.7 million in cash pursuant to the Purchase and Assumption Agreement by and among the Company, Global and the Bank, dated January 10, 2024. The completion of this sale marks the largest transaction between a bank and a credit union in U.S. History.

The Company plans to distribute all of its remaining assets, including the purchase price received from Global, remaining after taxes and expenses, to Company shareholders beginning on or about April 30, 2025.