First Financial Northwest Inc., the holding company for First Savings Bank Northwest, said the Federal Reserve System has lifted the memorandum of understanding entered into slightly over two years ago, with the termination of the four remaining conditions.
The company previously announced on April 5 that the Fed Reserve had lifted the other operating restrictions contained in the MOU.
"We are pleased that the Federal Reserve has acknowledged the significant improvements we have accomplished," said Joseph W. Kiley III, president and chief executive officer of First Savings Bank Northwest.
"Going forward, we are now in a position to consider future repurchases of our common stock and the payment of cash dividends to our shareholders. These decisions by our board of directors will be made in conjunction with an evaluation of our results of operations, capital position and needs, and the general economic environment."
In 4Q12 First Financial Northwest generated
