Washington › Finance and insurance › 250 to 499 participants
Form 5500 statement · plan year 1 Jul 2024 to 30 Jun 2025
First Northwest Bancorp Employee Stock Ownership Plan
Sponsored by First Northwest Bancorp, Port Angeles, WA
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
In the plan year ending 30 Jun 2025, First Northwest Bancorp Employee Stock Ownership Plan covered 266 participants and held −$429K in net assets. The plan is an employee stock ownership plan sponsored by First Northwest Bancorp of Port Angeles, Washington.
The employer contributed $579K during the year, or $3,469 per active participant against a same-size median of $2,017; participants contributed —. Benefits paid out totalled $682K.
The filing reports no service provider compensation on Schedule C. That is common where fees are paid by the employer or taken from investment returns, neither of which appears there. Administrative expenses charged to the plan were $0.
Across the filings on record, net assets went from $973K in 2015 to −$429K in 2024 (down 144%), and participants from 137 to 266 (up 94%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | — | $48,746 | $92,294 | $53,102 |
| Employer contributions per active participant | $3,469 | $2,017 | $3,564 | $2,175 |
| Schedule C compensation per participant | — | $141 | $137 | $123 |
| Schedule C compensation, share of net assets | — | 0.30% | 0.17% | 0.26% |
| Administrative expenses per participant | — | $133 | $130 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 250 to 499 participants (17,456 plans), finance and insurance (4,391) and all US plans (63,460). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 266 | −$429K | −$1,613 | $579K | — | $0 |
| 2023 | 279 | $1.3M | $4,538 | $569K | — | $0 |
| 2022 | 275 | $2.4M | $8,753 | $561K | — | $0 |
| 2021 | 241 | $6.4M | $26,722 | $566K | — | $0 |
| 2020 | 212 | $7.9M | $37,377 | $601K | — | $0 |
| 2019 | 212 | $2.5M | $11,976 | $663K | $0 | $0 |
| 2018 | 164 | $6.1M | $37,171 | $742K | — | $0 |
| 2017 | 174 | $5.3M | $30,580 | $835K | — | $0 |
| 2016 | 157 | $4.7M | $29,675 | $835K | — | $0 |
| 2015 | 137 | $973K | $7,102 | $810K | — | $0 |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$1,265,771
- Employer contributions$579,305
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$579,305
- Total income, including investment results−$827,627
- Benefits paid$682,223
- Administrative expenses$0
- Total expenses$866,791
- Net income−$1,694,418
- Net transfers$0
- Net assets, end of year−$428,647
Participants
- Active participants167
- Retired or separated, receiving benefits16
- Retired or separated, entitled to future benefits82
- Participants with account balances266
- Total participants, end of year266
Fees and service providers
No service provider organisations are listed on Schedule C for this plan year.
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Employer securities$6.6M · 100.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmBaker Tilly US, LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,000,000
- Blackout period during the yearYes
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2IStock bonus2PLeveraged ESOP3IPlan requiring that all or part of employer contributions be invested and held in employer securities
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 522110: Commercial Banking.
Similar plans in Washington
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Americas Credit Union, a Federal Credit Union 401(k) Savings Plan | America's Credit Union, a Federal Credit Union | 281 | $15.3M | $54,452 |
| Coldstream 401(k) Plan | Coldstream Capital Management, Inc. | 261 | $45.6M | $174,834 |
| Cascade West Title Company, LLC DBA CW Title 401(k) Plan | Cascade West Title Company, LLC DBA CW Title | 284 | $14.5M | $51,036 |
| Bank of the Pacific 401(k) Plan | Bank of the Pacific | 259 | $25.4M | $98,232 |
| First Fed Bank 401(k) Plan | First Fed Bank | 307 | $20.6M | $67,126 |
| Grange Insurance Association Savings & Investment Plan | Grange Insurance Association | 253 | $51.5M | $203,365 |
Defined contribution plans in finance and insurance closest in size.
Questions and answers
How big is First Northwest Bancorp Employee Stock Ownership Plan?
266 participants at the end of the plan year ending 30 Jun 2025, of whom 167 were active employees, with net assets of −$428,647. Among defined contribution plans that places it in the 250 to 499 participants band, which held 17,456 plans in plan year 2024.
What does First Northwest Bancorp contribute per participant?
The filing reports $579,305 in employer contributions for the year, which is $3,469 per active participant; the median for plans of the same type and size was $2,017 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports no provider compensation for the year. Administrative expenses on Schedule H were $0. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is First Northwest Bancorp. The financial statements were audited by Baker Tilly US, LLP. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jul 2024 to 30 Jun 2025, received by the Department of Labor on 21 May 2026. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 46-1259100, plan 003, received 21 May 2026; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.