Plan Ledger DOL Form 5500 · updated monthly

First Northwest BancorpESOP

FIRST NORTHWEST BANCORP EMPLOYEE STOCK OWNERSHIP PLAN · PORT ANGELES, WA · plan year 2022

Employer contribution per participant · 2022
$2,734

First Northwest Bancorp's 2022 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $2,407,034 across 275 participant accounts, with employer contributions averaging $2,734 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $1M–$10M size bracket, benchmarked here against 30,021 comparable plans and shown alongside other finance & insurance employers. By assets it is among the smaller plans on file in Washington (1,539th of 1,714), and 4,634th of 4,798 in finance & insurance.

Plan summary
Net assets, end of year$2,407,034
Participants with balances275
Active participants205
Employer contributions$560,567
Employee contributions—
Employer contribution per active participant$2,734
Average account balance$8,753
Benefits paid to participants$626,658
Plan auditUnmodified (clean) audit opinion
AuditorMOSS ADAMS LLP
Plan history3
Yearassets · accounts · employer contribution
2024$-429K · 266 accts · $579K emplr
2023$1.3M · 279 accts · $569K emplr
2022$2.4M · 275 accts · $561K emplr
Employer contributions to the First Northwest Bancorp plan · 2022
Employer contribution per active participant$2,734
Median for plans this size$1,114
2024$3,469 per active participant
2023$2,857 per active participant
2022$2,734 per active participant

First Northwest Bancorp's 2022 employer contribution ran above the $1,114 median for plans its size, placing it in the top quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

Administrative cost history3
2024Not separately reported
2023Not separately reported
2022Not separately reported
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Source: U.S. Department of Labor, Form 5500 series, EIN 461259100 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.